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Report
Global Golf Cart Market Forecast 2022-2030
Market Report I 2022-07-25 I 220 Pages I Inkwood Research
KEY FINDINGS
The global golf cart market is set to project a CAGR of 5.78% during the forecast years of 2022 to 2030. The market growth is mainly ascribed to the rise in golf tourism, the increasing number of golf courses, as well as government regulations regarding vehicular emissions.
MARKET INSIGHTS
Golf carts are characterized as low-speed vehicles (LSVs) that mainly utilize an electric motor or an ICE. These carts are used to move golfers as well as their gear around a golf course. Moreover, their top speed is less than 45 kilometers per hour.
While the demand for golf carts is increasing, golf courses are anticipated to grow in size, thus necessitating their upkeep, as well. Due to the accelerating number of golf courses, there is an increased requirement to maintain mobility owing to the broad area. This aspect further supports the overall sale of golf carts.
In this regard, as per the National Golf Foundation, in 2020, there were 24.8 million golfers in the United States, indicating an increase of 500,000 and 2% compared to the previous year. Furthermore, the net rise is at its highest level in 17 years. Countries such as India, Vietnam, Thailand, and China are also witnessing a surge in gold courses owing to the rising popularity of the sport as well as golf tourism. As a result, the growing number of golf courses plays an essential role in augmenting the global golf cart market.
REGIONAL INSIGHTS
The global golf cart market growth assessment comprises the evaluation of North America, Europe, Asia-Pacific, and Rest of World. The Asia-Pacific is set to grow with the highest CAGR during the forecasted years. The market growth of the region is ascribed to fiscal and monetary policies, the increase in demand from premium buyers, and the rising tourism industry.
COMPETITIVE INSIGHTS
The global golf cart market is witnessing intense rivalry between players in order to capture newer geographical regions, including the Asia-Pacific. Hence, the threat of rivalry is high.
Some of the key companies operating in the market are Garia, HDK Electric Vehicle, Club Car, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. SCOPE OF STUDY
1.3. METHODOLOGY
1.4. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. MARKET OVERVIEW
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. INCREASING NUMBER OF GOLF COURSES
3.1.2. GOVERNMENT REGULATIONS REGARDING VEHICULAR EMISSIONS
3.1.3. GROWTH IN GOLF TOURISM
3.2. KEY RESTRAINTS
3.2.1. HIGH COST OF GOLF MEMBERSHIPS AND GOLF CARTS
4. KEY ANALYTICS
4.1. IMPACT OF COVID-19 ON GOLF CART MARKET
4.2. KEY MARKET TRENDS
4.3. PORTER'S FIVE FORCES ANALYSIS
4.3.1. BUYERS POWER
4.3.2. SUPPLIERS POWER
4.3.3. SUBSTITUTION
4.3.4. NEW ENTRANTS
4.3.5. INDUSTRY RIVALRY
4.4. OPPORTUNITY MATRIX
4.5. VENDOR LANDSCAPE
4.6. REGULATORY FRAMEWORK
5. MARKET BY SEATING CAPACITY
5.1. ONE-TO-FOUR-SEATER
5.2. ABOVE-FIVE-SEATER
6. MARKET BY END-USER
6.1. GOLF AND RECREATION
6.2. COMMERCIAL USAGE
6.3. PERSONAL USAGE
7. MARKET BY VEHICLE TYPE
7.1. GAS GOLF CART
7.2. ELECTRIC GOLF CART
7.3. SOLAR GOLF CART
8. GEOGRAPHICAL ANALYSIS
8.1. NORTH AMERICA
8.1.1. MARKET SIZE & ESTIMATES
8.1.2. KEY GROWTH ENABLERS
8.1.3. KEY CHALLENGES
8.1.4. KEY PLAYERS
8.1.5. COUNTRY ANALYSIS
8.1.5.1. UNITED STATES
8.1.5.2. CANADA
8.2. EUROPE
8.2.1. MARKET SIZE & ESTIMATES
8.2.2. KEY GROWTH ENABLERS
8.2.3. KEY CHALLENGES
8.2.4. KEY PLAYERS
8.2.5. COUNTRY ANALYSIS
8.2.5.1. UNITED KINGDOM
8.2.5.2. GERMANY
8.2.5.3. FRANCE
8.2.5.4. SPAIN
8.2.5.5. IRELAND
8.2.5.6. DENMARK
8.2.5.7. NETHERLANDS
8.2.5.8. SWEDEN
8.2.5.9. REST OF EUROPE
8.3. ASIA-PACIFIC
8.3.1. MARKET SIZE & ESTIMATES
8.3.2. KEY GROWTH ENABLERS
8.3.3. KEY CHALLENGES
8.3.4. KEY PLAYERS
8.3.5. COUNTRY ANALYSIS
8.3.5.1. CHINA
8.3.5.2. JAPAN
8.3.5.3. INDIA
8.3.5.4. SOUTH KOREA
8.3.5.5. INDONESIA
8.3.5.6. THAILAND
8.3.5.7. VIETNAM
8.3.5.8. AUSTRALIA & NEW ZEALAND
8.3.5.9. REST OF ASIA-PACIFIC
8.4. REST OF WORLD
8.4.1. MARKET SIZE & ESTIMATES
8.4.2. KEY GROWTH ENABLERS
8.4.3. KEY CHALLENGES
8.4.4. KEY PLAYERS
8.4.5. REGIONAL ANALYSIS
8.4.5.1. LATIN AMERICA
8.4.5.2. MIDDLE EAST & AFRICA
9. COMPETITIVE LANDSCAPE
9.1. KEY STRATEGIC DEVELOPMENTS
9.1.1. MERGERS & ACQUISITIONS
9.1.2. PRODUCT LAUNCHES
9.1.3. PARTNERSHIPS
9.1.4. DIVESTITURES
9.2. COMPANY PROFILES
9.2.1. CLUB CAR
9.2.2. CRUISE CAR INC
9.2.3. EVOLUTION ELECTRIC VEHICLES
9.2.4. E-Z-GO (ACQUIRED BY TEXTRON INC)
9.2.5. GARIA
9.2.6. HAWK CARTS
9.2.7. HDK ELECTRIC VEHICLE
9.2.8. KARRIOR ELECTRIC VEHICLES
9.2.9. MARSHELL
9.2.10. POLARIS INDUSTRIES INC
9.2.11. STAR EV CORPORATION
9.2.12. THAI SUMMIT GROUP
9.2.13. TOMBERLIN
9.2.14. VARLEY GROUP
9.2.15. YAMAHA GOLF-CAR COMPANY (YAMAHA CORPORATION)
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - GOLF CART
TABLE 2: REGULATORY FRAMEWORK
TABLE 3: GLOBAL GOLF CART MARKET, BY SEATING CAPACITY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 4: GLOBAL GOLF CART MARKET, BY SEATING CAPACITY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 5: GLOBAL ONE-TO-FOUR-SEATER MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 6: GLOBAL ONE-TO-FOUR-SEATER MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 7: GLOBAL ABOVE-FIVE-SEATER MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 8: GLOBAL ABOVE-FIVE-SEATER MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 9: GLOBAL GOLF CART MARKET, BY END-USER, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 10: GLOBAL GOLF CART MARKET, BY END-USER, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 11: GLOBAL GOLF AND RECREATION MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 12: GLOBAL GOLF AND RECREATION MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 13: GLOBAL COMMERCIAL USAGE MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 14: GLOBAL COMMERCIAL USAGE MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 15: GLOBAL PERSONAL USAGE MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 16: GLOBAL PERSONAL USAGE MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 17: GLOBAL GOLF CART MARKET, BY VEHICLE TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 18: GLOBAL GOLF CART MARKET, BY VEHICLE TYPE, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 19: GLOBAL GAS GOLF CART MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 20: GLOBAL GAS GOLF CART MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 21: GLOBAL ELECTRIC GOLF CART MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 22: GLOBAL ELECTRIC GOLF CART MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 23: GLOBAL SOLAR GOLF CART MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 24: GLOBAL SOLAR GOLF CART MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 25: GLOBAL GOLF CART MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 26: GLOBAL GOLF CART MARKET, BY GEOGRAPHY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 27: NORTH AMERICA GOLF CART MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 28: NORTH AMERICA GOLF CART MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 29: LEADING PLAYERS OPERATING IN NORTH AMERICA GOLF CART MARKET
TABLE 30: EUROPE GOLF CART MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 31: EUROPE GOLF CART MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 32: LEADING PLAYERS OPERATING IN EUROPE GOLF CART MARKET
TABLE 33: ASIA-PACIFIC GOLF CART MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 34: ASIA-PACIFIC GOLF CART MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 35: LEADING PLAYERS OPERATING IN ASIA-PACIFIC GOLF CART MARKET
TABLE 36: REST OF WORLD GOLF CART MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 37: REST OF WORLD GOLF CART MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 38: LEADING PLAYERS OPERATING IN REST OF WORLD GOLF CART MARKET
TABLE 39: LIST OF MERGERS & ACQUISITIONS
TABLE 40: LIST OF PRODUCT LAUNCHES
TABLE 41: LIST OF PARTNERSHIPS
TABLE 42: LIST OF DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: OPPORTUNITY MATRIX
FIGURE 4: VENDOR LANDSCAPE
FIGURE 5: GLOBAL GOLF CART MARKET, GROWTH POTENTIAL, BY SEATING CAPACITY, IN 2021
FIGURE 6: GLOBAL GOLF CART MARKET, BY ONE-TO-FOUR-SEATER, 2022-2030 (IN $ MILLION)
FIGURE 7: GLOBAL GOLF CART MARKET, BY ABOVE-FIVE-SEATER, 2022-2030 (IN $ MILLION)
FIGURE 8: GLOBAL GOLF CART MARKET, GROWTH POTENTIAL, BY END-USER, IN 2021
FIGURE 9: GLOBAL GOLF CART MARKET, BY GOLF AND RECREATION, 2022-2030 (IN $ MILLION)
FIGURE 10: GLOBAL GOLF CART MARKET, BY COMMERCIAL USAGE, 2022-2030 (IN $ MILLION)
FIGURE 11: GLOBAL GOLF CART MARKET, BY PERSONAL USAGE, 2022-2030 (IN $ MILLION)
FIGURE 12: GLOBAL GOLF CART MARKET, GROWTH POTENTIAL, BY VEHICLE TYPE, IN 2021
FIGURE 13: GLOBAL GOLF CART MARKET, BY GAS GOLF CART, 2022-2030 (IN $ MILLION)
FIGURE 14: GLOBAL GOLF CART MARKET, BY ELECTRIC GOLF CART, 2022-2030 (IN $ MILLION)
FIGURE 15: GLOBAL GOLF CART MARKET, BY SOLAR GOLF CART, 2022-2030 (IN $ MILLION)
FIGURE 16: NORTH AMERICA GOLF CART MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)
FIGURE 17: UNITED STATES GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 18: CANADA GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 19: EUROPE GOLF CART MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)
FIGURE 20: UNITED KINGDOM GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 21: GERMANY GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 22: FRANCE GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 23: SPAIN GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 24: IRELAND GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 25: DENMARK GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 26: NETHERLANDS GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 27: SWEDEN GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 28: REST OF EUROPE GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 29: ASIA-PACIFIC GOLF CART MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)
FIGURE 30: CHINA GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 31: JAPAN GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 32: INDIA GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 33: SOUTH KOREA GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 34: INDONESIA GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 35: THAILAND GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 36: VIETNAM GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 37: AUSTRALIA & NEW ZEALAND GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 38: REST OF ASIA-PACIFIC GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 39: REST OF WORLD GOLF CART MARKET, REGIONAL OUTLOOK, 2021 & 2030 (IN %)
FIGURE 40: LATIN AMERICA GOLF CART MARKET, 2022-2030 (IN $ MILLION)
FIGURE 41: MIDDLE EAST & AFRICA GOLF CART MARKET, 2022-2030 (IN $ MILLION)
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