Golf Cart Market, by Component (Electric Golf Carts and Gasoline Golf Carts), by End Users (Private and Government), by Product Type (Electric Golf Carts and Gasoline Golf Carts), By Seating Capacity (Small (2-4), Medium (6-8), and Large (10+)), and by Geography - Global Forecast to 2025

  • Published On : Nov 2017 |
  • Pages : 350 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Global Golf Cart Market

The global golf cart market was valued at US$ 3,262.3 million in 2016 and is projected to exhibit a CAGR of 5.95% during the forecast period (2017–2025), reaching US$ 5,590.0 million by 2025. Growing urbanization and industrialization are some of the factors driving growth of the global golf cart market. However, high initial costs associated with golf carts is major factor hindering growth of the market. Moreover, lack of infrastructure for charging points of golf carts in emerging economies hinders growth of the golf cart market.

The increasing urbanization and industrialization in emerging economies have fueled growth of the golf cart market

Increasing urbanization and industrialization in various emerging economies such as South Korea, Brazil, South Africa, China, and India are expected to boost mall culture, theme parks, amusement parks, and smart housing projects, among others. This is expected to increase demand for golf carts for internal transportation in malls to carry goods and people. Furthermore, increasing demand for customized products related to seating capacity and vehicle aesthetics have provided immense opportunities for market players.

Increasing demand for electric golf carts fuels growth of the global golf cart market

On the basis of product type, the global golf cart market is segmented into electric golf carts and gasoline golf carts. The electric golf carts segment held a dominant position in 2016 and is projected to retain its dominance throughout the forecast period. Increasing demand for pollution-free vehicles, surging prices of fuels, coupled with low costs associated with maintenance of electric carts are creating a conducive environment for growth of the segment.

Electric golf carts are powered by lead-acid batteries that enables the increase in its weight-to-performance ratio. Lithium golf cart batteries are half the size of a traditional lead-acid battery, and two-thirds of the battery weight, which enables the golf cart to reach higher speeds with less energy and can transport more weight.

Figure 1. Global Golf Cart Market, by Product Type (2016)

golf cart market

Source: Coherent Market Insights Analysis, 2016

North America holds a dominant position in the global golf cart market

On the basis of geography, the global golf cart market is segmented into North America, Europe, Asia Pacific, Latin America, Africa, and the Middle East. According to Coherent Market Insights, North America held a dominant position in the global golf cart market in 2016 and is projected to retain its dominance throughout the forecast period. High popularity of golf sport in this region has resulted in the establishment of a large number of golf clubs, in turn increasing the demand for golf carts in the region. The U.S. and Canada are the major countries driving growth of the golf cart market in North America. Asia Pacific holds the second largest position in the golf cart market. Increasing adoption of electric golf carts in various end-use industries such as malls, airports, and residential apartments are fueling growth of the market in the region. China, Japan, Australia, and India are the major countries driving growth of the market for golf cart in Asia Pacific.

The global golf cart market generated a revenue of US$ 3,262.3 million in 2016 and is projected to exhibit a CAGR of 5.95% over the forecast period, reaching US$ 5,590.0 million by 2025.

Market Dynamics

Increasing demand for electric golf carts is a key factor driving growth of the golf cart market. Increasing demand for pollution-free vehicles, surging prices of fuels, and low maintenance cost of electric golf carts have contributed to the rapid growth of the electric golf cart segment. Furthermore, growing urbanization and industrialization have increased the demand for internal transportation to carry goods and people. This in turn, fuels demand for golf carts, thus driving growth of the golf cart market.

Market Taxonomy

This report segments the global golf cart market on the basis of component, end users, product type, seating capacity, and geography. For a comprehensive understanding of market dynamics, the market is analyzed across key geographical regions namely, North America, Europe, Asia Pacific, Latin America, Africa, and the Middle East. Each of these regions is analyzed based on the market findings across major countries in these regions for a macro-level understanding of the market.

Key features of the study:

  • This report provides an in-depth analysis of the golf cart market with market size (US$ Million) and CAGR (%) for the forecast period: 2017–2025, considering 2016 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global golf cart market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies
  • Key companies covered as a part of this study include Club Car, LLC, Columbia ParCar Corp, Cruise Car, Inc, EverGreen Electrical Vehicles, E-Z-GO, Garia Luxury Golf Car, Hitachi Chemical Co., Ltd., Maini Material Movement Pvt. Ltd., Xiamen Dalle Electric Car Co., Ltd, and Yamaha Golf-Car Company
  • Insights from this report will allow marketers and management authorities of companies to make informed decisions with respect to their future product launch, technology upgrades, market expansion, and marketing tactics
  • Various strategy matrices used in analyzing the golf cart market would provide stakeholders vital inputs to make strategic decisions accordingly

Detailed Segmentation:

  • Global Golf Cart Market, By Component:
    • Electric Golf Carts Component
      • Brake Systems
      • Electrical Components
      • Suspension System
      • Wheels and Tires
      • Others
    • Gasoline Golf Carts Component
      • Brake Systems
      • Engine and Related Components
      • Exhaust System
      • Suspension System
      • Wheels and Tires
      • Others
  • Global Golf Cart Market, By End Users:
    • Private
      • Golf Clubs
      • Hotels/Resorts
      • Housing Projects
      • Others
    • Government
      • Airports
      • Railways
      • PSUs
      • Others
  • Global Golf Cart Market, By Product Type
    • Electric Golf Carts
    • Gasoline Golf Carts
  • Global Golf Cart Market, By Seating Capacity
    • Small (2-4)
    • Medium (6-8)
    • Large (10+)
  • Global Golf Cart Market, By Geography:
    • North America
      • By Country
        • U.S.
        • Canada
      • By Segmentation
        • By Component
          • Electric Golf Carts
            • Brake Systems
            • Electrical Components
            • Suspension System
            • Wheels and Tires
            • Others
          • Gasoline Golf Carts
            • Brake Systems
            • Engine and Related Components
            • Exhaust System
            • Suspension System
            • Wheels and Tires
            • Others
        • By End Users:
          • Private
            • Golf Clubs
            • Hotels/Resorts
            • Housing Projects
            • Others
          • Government
            • Airports
            • Railways
            • PSUs
            • Others
        • By Product Type
          • Electric Golf Carts
          • Gasoline Golf Carts
        • By Seating Capacity
          • Small (2-4)
          • Medium (6-8)
          • Large (10+)
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
      • By Segmentation
        • By Component
          • Electric Golf Carts
            • Brake Systems
            • Electrical Components
            • Suspension System
            • Wheels and Tires
            • Others
          • Gasoline Golf Carts
            • Brake Systems
            • Engine and Related Components
            • Exhaust System
            • Suspension System
            • Wheels and Tires
            • Others
        • By End Users:
          • Private
            • Golf Clubs
            • Hotels/Resorts
            • Housing Projects
            • Others
          • Government
            • Airports
            • Railways
            • PSUs
            • Others
        • By Product Type
          • Electric Golf Carts
          • Gasoline Golf Carts
        • By Seating Capacity
          • Small (2-4)
          • Medium (6-8)
          • Large (10+)
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest Of Asia Pacific
      • By Segmentation
        • By Component
          • Electric Golf Carts
            • Brake Systems
            • Electrical Components
            • Suspension System
            • Wheels and Tires
            • Others
          • Gasoline Golf Carts
            • Brake Systems
            • Engine and Related Components
            • Exhaust System
            • Suspension System
            • Wheels and Tires
            • Others
        • By End Users:
          • Private
            • Golf Clubs
            • Hotels/Resorts
            • Housing Projects
            • Others
          • Government
            • Airports
            • Railways
            • PSUs
            • Others
        • By Product Type
          • Electric Golf Carts
          • Gasoline Golf Carts
        • By Seating Capacity
          • Small (2-4)
          • Medium (6-8)
          • Large (10+)
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Rest Of Asia Pacific
      • By Segmentation
        • By Component
          • Electric Golf Carts
            • Brake Systems
            • Electrical Components
            • Suspension System
            • Wheels and Tires
            • Others
          • Gasoline Golf Carts
            • Brake Systems
            • Engine and Related Components
            • Exhaust System
            • Suspension System
            • Wheels and Tires
            • Others
        • By End Users:
          • Private
            • Golf Clubs
            • Hotels/Resorts
            • Housing Projects
            • Others
          • Government
            • Airports
            • Railways
            • PSUs
            • Others
        • By Product Type
          • Electric Golf Carts
          • Gasoline Golf Carts
        • By Seating Capacity
          • Small (2-4)
          • Medium (6-8)
          • Large (10+)
    • Africa
      • By Country
        • South Africa
        • Central Africa
        • North Africa
      • By Segmentation
        • By Component
          • Electric Golf Carts
            • Brake Systems
            • Electrical Components
            • Suspension System
            • Wheels and Tires
            • Others
          • Gasoline Golf Carts
            • Brake Systems
            • Engine and Related Components
            • Exhaust System
            • Suspension System
            • Wheels and Tires
            • Others
        • By End Users:
          • Private
            • Golf Clubs
            • Hotels/Resorts
            • Housing Projects
            • Others
          • Government
            • Airports
            • Railways
            • PSUs
            • Others
        • By Product Type
          • Electric Golf Carts
          • Gasoline Golf Carts
        • By Seating Capacity
          • Small (2-4)
          • Medium (6-8)
          • Large (10+)
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest Of Middle East
      • By Segmentation
        • By Component
          • Electric Golf Carts
            • Brake Systems
            • Electrical Components
            • Suspension System
            • Wheels and Tires
            • Others
          • Gasoline Golf Carts
            • Brake Systems
            • Engine and Related Components
            • Exhaust System
            • Suspension System
            • Wheels and Tires
            • Others
        • By End Users:
          • Private
            • Golf Clubs
            • Hotels/Resorts
            • Housing Projects
            • Others
          • Government
            • Airports
            • Railways
            • PSUs
            • Others
        • By Product Type
          • Electric Golf Carts
          • Gasoline Golf Carts
        • By Seating Capacity
          • Small (2-4)
          • Medium (6-8)
          • Large (10+)
  • Company Profiles
      • Club Car, LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Columbia ParCar Corp
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Cruise Car, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • EverGreen Electrical Vehicles
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • E-Z-GO
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Garia Luxury Golf Car
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Hitachi Chemical Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Maini Material Movement Pvt. Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Xiamen Dalle Electric Car Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Yamaha Golf-Car Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates

Table of Contents

  1. Research Objective and assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet By Component
      • Market Snippet By End-Users
      • Market Snippet By Product Type
      • Market Snippet By Seating Capacity
      • Market Snippet By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New Product Approvals/Launch
  4. Global Golf Cart Market, By Component, 2015 - 2025 (USD Million)
    • Introduction
      • Market Share Analysis, 2016 and 2025 (%)
      • Segment Trends
    • Electric Golf Cart Component
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (USD Million)
      • Sub-segments
        • Brake Systems
        • Electrical Components
        • Suspension System
        • Wheels and Tires
        • Others
    • Gasoline Golf Cart Component
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (USD Million)
      • Sub-Segments
        • Brake Systems
        • Engine and Related Components
        • Exhaust System
        • Suspension System
        • Wheels and Tires
        • Others
  5. Global Golf Cart Market, By End Users, 2015 - 2025 (USD Million)
    • Introduction
      • Market Share Analysis, 2016 and 2025 (%)
      • Segment Trends
    • Private
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (USD Million)
      • Sub-segments
        • Golf Clubs
        • Hotels/Resorts
        • Housing Projects
        • Others
    • Government
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (USD Million)
      • Sub-segments
        • Airports
        • Railways
        • PSUs
        • Others
  6. Global Golf Cart Market, By Product Type, 2015 - 2025 (USD Million)
    • Introduction
      • Market Share Analysis, 2016 and 2025 (%)
      • Segment Trends
    • Electric Golf Cart
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (USD Million
    • Gasoline Golf Cart
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (USD Million)
  7. Global Golf Cart Market, By Seating Capacity, 2015 - 2025 (USD Million)
    • Introduction
      • Market Share Analysis, 2016 and 2025 (%)
      • Segment Trends
    • Small (2-4)
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (USD Million)
    • Medium (6-8)
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (USD Million)
    • Large (10+)
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (USD Million)
  8. Global Golf Cart Market, By Regions, 2015 - 2025 (USD Million)
    • Introduction
    • Market Share Analysis, By Region, 2016 and 2025 (%)
    • North America
      • By Country
        • U.S.
        • Canada
      • By Segment
        • Market Size and Forecast, By Component, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Seating Capacity, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
    • Europe
      • By Country
        • Germany
        • UK
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
      • By Segment
        • Market Size and Forecast, By Component, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Seating Capacity, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest Of Asia Pacific
      • By Segment
        • Market Size and Forecast, By Component, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Seating Capacity, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Rest Of Asia Pacific
      • By Segment
        • Market Size and Forecast, By Component, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Seating Capacity, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
    • Africa
      • By Country
        • South Africa
        • Central Africa
        • North Africa
      • By Segment
        • Market Size and Forecast, By Component, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Seating Capacity, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest Of Middle East
      • By Segment
        • Market Size and Forecast, By Component, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By Seating Capacity, 2015 - 2025 (USD Million)
        • Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
  9. Competitive Landscape
    • Company Profiles
      • Club Car, LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Columbia ParCar Corp
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Cruise Car, Inc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • EverGreen Electrical Vehicles
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • E-Z-GO
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Garia Luxury Golf Car
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Hitachi Chemical Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Maini Material Movement Pvt. Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Xiamen Dalle Electric Car Co., Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Yamaha Golf-Car Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
    • Analyst Views
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact
    • Available Customizations
      • ATM Managed Services Market
      • Steel Pipes Market
      • Industrial Cyber Security Market

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  • Desk Research
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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

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The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

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Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

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  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

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  • System Integrators
  • Distributors
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