Golf Cart Market Analysis

Product Type (Electric Golf Cart, Gasoline Golf Cart, Solar Powered Golf Cart)

The electric golf cart market is estimated to gain the largest revenue share of about 48% in the year 2037. The segment growth can be attributed to the reduced battery prices of electric golf carts and the strictly enforced emission regulations by the government act as a positive driver for the electric market sales.

Along with this, the electric golf carts consist of fewer moving parts, so the maintenance costs are non-existent, which contributes to the expansion of this particular segment. The gasoline golf cart is the second largest segment as their variants gained popularity due to the space they consume and the cost of it, this increased the demand for this segment, especially in the universities, stadiums, airports, and bus stations. The solar-based cart offers less emissions and this attracts the tax benefits in several countries as well.

Application (Medical, Golf Course, Commercial Services)

The golf course segment is set to garner a notable share shortly and is likely to remain the largest segment in the application of the golf cart market. As the number of golf courses has increased, the number of active participants has also increased all over the globe. During the forecasted period, the commercial segment is estimated to increase at a great rate in market. In addition to this, the customizable option of the golf carts plays a huge role in the increase of this market in this particular region.

Battery Capacity (4V, 6V, 8V, 10V)

The 8V segment is slated to hold the largest revenue for about USD 972 Million by the end of the forecasted period, i.e., 2037. As these product types are budget friendly and can be afforded easily along with this, as the voltage is neither the least nor the highest their power efficiency is the best, due to which 8V battery capacity golf carts are in more demand than 10V battery capacity golf cart, and is expected to increase in the forecasted period.

Our in-depth analysis of the market includes the following segments: