Kinetic Green Energy & Power Solutions Ltd an electric vehicle manufacturer in India had teamed up with Lamborghini to produce more Italian-designed along with India-made golf carts. This project was carried out while focusing on the global market.
Textron Inc. made their E-Z-GO Liberty vehicle, which is the first industry vehicle that offers four front-facing seats in a compact golf cart size.
In the year 2023, the industry size of golf carts was over USD 1.42 billion.
The market size for golf carts is projected to cross USD 3.09 billion by the end of 2036 expanding at a CAGR of 6.7% during the forecast period i.e., between 2024-2036.
The major players in the market are Platinum Equity Aadvisors LLC (Club Car), Textron Inc. (E Z GO), Yamaha Motor Co Ltd., Showa Denko (Hitachi Chemicals), Maini Group, Nordic Group of Companies Ltd., Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Xiamen Dalle New Energy Automobile Co. Ltd., and others.
In terms of product type, the electric golf cart segment is anticipated to account for the largest market share of 48% during 2024-2036.
The North American golf cart sector is poised to hold the highest share of 35% by 2036.