Golf Cart Market by Product type Electric Golf Cart, Gasoline Golf Cart, Solar Golf Cart Industry Forecast, 2023-2032

According to a new report published by Allied Market Research, titled, "Golf Cart Market," 𝐓𝐡𝐞 𝐠𝐨𝐥𝐟 𝐜𝐚𝐫𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟏.𝟏 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟐, 𝐚𝐧𝐝 𝐢𝐬 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟐.𝟏 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐, 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟔.𝟓% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟑 𝐭𝐨 𝟐𝟎𝟑𝟐.

Continuously growing global carbon emission by combustion of fuel has been one of the foremost concerns for governments and environmentalists from past few years, which is expected to drive demand for electric and solar golf cart across the globe; which supplements growth of the market. Furthermore, increase in fuel prices at international level, growing pollution, and traffic congestion, especially in urban areas have further increased acceptance of golf cart as a recreational vehicle across the globe. In addition, relatively higher running and maintenance cost of gasoline golf cart leads to shift in preference for electric golf cart for shorter transits, which, in turn, boosts the golf cart market growth during the forecast period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/2099

In America, the U.S. has the maximum number of golf courses, which counts around 15,332 followed by other countries such as Canada with 2,363 golf courses, Mexico with around 200, Brazil with 75, and Argentina with 319. The golf industry across the U.S. includes nearly 2 million jobs and golf game also contributes more to charity than any other major sports industry. In addition, around 36% of the U.S. population, which is over 107 million, who have either played, watched, or read about golf in 2018.

In 2020, the U.S. NGF (National Golf Foundation) witnessed ~24.8 million golfers in the U.S., representing a rise of nearly 2% or 500,000 as compared to 2019, the largest net increase recorded in 17 years. Increase in number of golf courses is supported by rise in number of people, who have inclined interest toward golf. This directly boosts growth in demand for golf carts. In addition, there is an increase, though at a slower rate of around 15, in the number of country clubs and golf courses in the U.S. Further, increase in disposable income leads to rise in expenditure of recreational time and discretionary income of population. All these factors collectively boost growth of the global golf cart market.

Governments across the globe has become very strict regarding problems of vehicle emission due to its impact on environment. U.S., Germany, France, and China have implemented government laws and regulations for vehicular emission and have made it mandatory for automobile manufacturers to use advanced technologies to combat high emission levels in vehicles. Program launched by California Air Resources Board (CARB), also includes guidelines for manufacturers to produce and deliver zero-emission vehicles (ZEVs). The ZEV mandate substantially boosts adoption of electric vehicles. Golf carts are available in two variants, one being gasoline powered and other that runs on electricity.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/golf-cart-market/purchase-options

Electric variant is the most ecofriendly out of the two but the gasoline powered variety itself does not produce a lot of unwanted pollution, owing to its downsized engines and low overall power and weight than other vehicles. These vehicles are quite compliant toward vehicular emission and has a bright future ahead, owing to their quality. This holds especially true for electric golf carts, which boosts the market growth.

As per the study conducted by the Aarhus University in Denmark in 2020, a 50-cart fleet of golf buggies could help reduce energy consumption from grid if each electric vehicle includes a 250 W panel. Based on their techno-economic analysis which considered the use of solar powered buggies at the Los Naranjos Golf Club in Marbella, southern Spain - the return on investment could be achieved within five years. Annual savings of $18,607 would be possible with an upfront investment of $78,000, the researchers added.

Furthermore, with effective integration of technology and workflow by prominent players in the industry is expected to contribute toward reinforcing adoption of solar powered golf carts in the future. For instance, in October 2020, India's Kinetic Green Vehicles announced to launch a new range of solar and electric-powered golf carts, designed Lamborghini, as part of its joint venture inked by Tonino Lamborghini and Kinetic Green in 2018. Under this agreement, Lamborghini handles designing part of the vehicle. Furthermore, the production part is handled by Kinetic Green with manufacturing facility in India.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/2099

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘 :

By product type, the solar golf cart segment holds a suitable growth rate during the forecast period.

By application, the personal service segment holds a suitable growth rate during the forecast period.

In 2022, Asia-Pacific holds a suitable growth rate during the forecast period, followed by Europe.

The key players analyzed in the golf cart market include 𝐂𝐥𝐮𝐛 𝐂𝐚𝐫, 𝐂𝐫𝐮𝐢𝐬𝐞 𝐂𝐚𝐫 𝐈𝐧𝐜., 𝐉𝐇 𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬, 𝐈𝐧𝐜., 𝐌𝐚𝐫𝐬𝐡𝐞𝐥𝐥 𝐆𝐫𝐞𝐞𝐧 𝐏𝐨𝐰𝐞𝐫, 𝐇𝐃𝐊 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬, 𝐍𝐨𝐫𝐝𝐢𝐜 𝐆𝐫𝐨𝐮𝐩 𝐨𝐟 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬, 𝐋𝐭𝐝., 𝐒𝐮𝐳𝐡𝐨𝐮 𝐄𝐚𝐠𝐥𝐞 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐌𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐂𝐨., 𝐋𝐭𝐝, 𝐓𝐞𝐱𝐭𝐫𝐨𝐧 𝐈𝐧𝐜., 𝐘𝐚𝐦𝐚𝐡𝐚 𝐌𝐨𝐭𝐨𝐫 𝐂𝐨., 𝐋𝐭𝐝., 𝐚𝐧𝐝 𝐗𝐢𝐚𝐦𝐞𝐧 𝐃𝐚𝐥𝐥𝐞 𝐍𝐞𝐰 𝐄𝐧𝐞𝐫𝐠𝐲 𝐀𝐮𝐭𝐨𝐦𝐨𝐛𝐢𝐥𝐞 𝐂𝐨., 𝐋𝐭𝐝.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog: https://blog.alliedmarketresearch.com

About us -

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.