Golf Cart Market Share

North America Market Statistics

The Golf Cart market in the North American region is expected to hold the largest with a share of about 42% by the end of 2037. The market growth in the region is also expected on account of increased golfers and rising golf awareness. For instance, in the US, more than 57,000 golf driving ranges were registered in 2020, which increased the demand for golf carts in this region.

The presence of the greatest number of golf courses in the country and the maximum number of golf players can both be strongly attributed to the growth of the regional market. For instance, the National Golf Foundation reports that there are more than 16,000 golf courses in the United States, making up around 40% of all golf courses worldwide. Furthermore, rising disposable income among consumers drives up spending on leisure activities, and the popularity of these sports is projected to contribute to the expansion of the regional market.

APAC Market Analysis

The APAC region will also encounter huge growth for the golf cart market during the forecast period and will hold the second position. This is owing to higher focus on mobility services, urbanization, governmental regulations, and an increase in fuel prices boosts the increasing demand for non-fuel-based vehicles over the fuel-based vehicles. Several technological advancements are also taking place in electrical vehicles, owing to governmental regulations and initiatives, which increase the market demand in this region.