According to a new report by IMARC Group. the global golf cart market grew at a CAGR of 4% during 2014-2019. Looking forward, the market is expected to continue its moderate growth during the next five years.
Also known as a golf buggy, a golf cart is a low-speed vehicle that is primarily utilized within the premises of a golf course for the transportation of equipment and golfers. It relies on electricity, gasoline or solar power as a source of fuel. As it is easy to use, cost-effective and produces zero carbon emission, it is extensively used in airports, hotels, resorts, exhibition centers, factories, amusement parks, multi-residential complexes and railway stations for traveling short distances.
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Rapid urbanization, in confluence with inflating income levels and the increasing participation in golf, represents one of the key factors escalating the demand for golf carts around the world. Moreover, owing to the benefits associated with golf carts, they are increasingly being used in promotional and marketing activities. Apart from this, the incorporation of innovative features, such as GPS, radio and air-conditioning, along with the introduction of golf carts for disabled and older people, are anticipated to fuel the market growth in the coming years.
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Insights on Market Segmentation:
Market Breakup by Product Type:
Electric Golf Cart
Gasoline Golf Cart
Solar Golf Cart
Market Breakup by Application:
Market Breakup by Seating Capacity:
Small (2-4 Seater)
Medium (6-8 Seater)
Large (Above 8 Seats)
Market Breakup by Region:
Middle East and Africa
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