North America Golf Cart Market Segmented By Propulsion (Electric, Gasoline, Solar), By Application (Golf Course, Personal Services, Commercial Services), By Country (United States, Canada, Mexico), Competition, Forecast & Opportunities, 2018- 2028F

Industry : Automotive
Pages : NA
Published Date : NA

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Report Description

North America Golf Cart market is projected to grow at a considerable rate in coming years due to increasing travel activities in the country.

North America Golf Cart Market Scope

The golf carts market in North America is projected to grow at a high CAGR in the next few years due to the increasing use of golf carts for various applications in the region, such as hotels and resorts, airports, golf courses, etc. Furthermore, the popularity of golf in the region is also increasing due to the changing lifestyle. In addition, many golf cart manufacturers offer golf carts configured as a small utility vehicle (UTV), which were originally designed for golf course operation. These UTVs came in a variety of configurations, such as small golf carts for pickup beds, flatbeds, dump style beds, van boxes, coolers, and cabinets. To meet the growing demand for golf carts, manufacturers have had to get creative with their products and modernize them to meet the needs of a wider audience. Additionally, electrification of golf carts is expected to further increase the demand for golf carts in the coming years.

North America Golf Cart Market Overview

Golf carts, also known as golf buggies or golf cars, are small, motorized vehicles that are typically designed to be used by two golfers to traverse a golf course in a shorter amount of time rather than walking. The typical size of a golf cart, when used for two golfers, is approximately 4 feet in width, 8 feet in length, and 6 feet in height, with weight ranging from 900 to 1000 pounds (410 to 450 kg). It can reach speeds of up to 15 miles an hour (24 kilometers per hour). Furthermore, golf cart manufacturers are increasingly investing in the development of wide selection of products for a variety of uses, in order to expand their sales in North America. Moreover, the North America golf cart market is expected to experience significant growth rate in the near future.

North America Golf Cart Market Driver

Eco Friendly Transportation

In the North America golf cart market, electric golf carts are becoming increasingly popular in the region due to the emission regulations implemented by the governments in North America to achieve sustainable environmental goals. Golf carts are widely powered by electric batteries, which emit less emissions than gasoline vehicles, and are commonly used in large resorts and gated communities, as well as golf courses. Furthermore, majorly in the United States, the popularity of golf is constantly on the rise, leading to an increase in the demand for golf carts in the country. Approximately 43% of worldwide golf courses are located in the United States with over 15,000 golf course courses in the year 2021. With these multiple advantages and advances to make environmentally friendly transportation, the overall North American golf cart market is expected to grow at a fast pace in the upcoming years.

North America Golf Cart Market Challenge

Limited Access to Public Places

A significant challenge in the North America golf cart market is the limited use of golf carts in the public area. Each year, about 13,000 golf cart-related accidents require emergency room visits, according to the U.S. Consumer Products Safety Commission which results in the limited usage of vehicles. The government lacks regulations and strategies for golf cart accessibility which are restricted to private properties and resorts. This limitation can hinder the wide spread of golf carts as mode of transportation for short distances in urban areas. Moreover, development in safety standards and advanced technology in battery manufacturing is anticipated to open up higher growth rate in forthcoming years.

North America Golf Cart Market Trend

Increasing Demand for Customization

One of the most important trends in the North America golf carts market is the growing trend of customization and personalization of golf carts. Many golf cart manufacturers offer customized vehicles to meet the needs of the customers which increases brand awareness and retention. This also leads to an increase in the sales of golf carts in the North America region. In addition to above custom accessories, better sound system and features also increase the demand among the consumers. In recent years, a new trend has started gaining traction in the North America region, especially in the United States. Golf carts are becoming more and more popular as primary mode of transportation between neighboring communities, beach town areas, and others. Furthermore, golf carts are compact and easy to operate. They consume significantly less power than conventional cars and are becoming more popular when traveling short distances. All these major trends contribute to the growth of the golf carts market in North America, in the coming years.

Recent Development

In March 2023, Club Car, the world’s leading producer of small-wheel zero-emission electric vehicles, to launched Club Car urban LSV and the Club Car XR through company’s North American commercial distributor network.

In May 2022, Club Car announced a partnership with the Dallas Cowboys to expand its personal transportation vehicles market presence.

Yamaha Motor Co., Ltd., in August 2019, announced the development of the model Sociable Cart SC-1, a low-speed mobility vehicle, in partnership with Sony Corporation.

Company Insights

Yamaha Motor Co. Ltd. (Yamaha Motor) announced in June 2023 that they will merge with subsidiary Yamaha Motor Electronics to enhance its vehicle and product development capabilities.

Club Car launched Club Car CRU in March 2023. Club Car CRU is expected to revolutionize the street-legal lifestyle market for consumers.

Club Car also announced in February 2023 that the company would be the global supplier for the 2023 Ryder Cup.

Yamaha Motor also announced in January 2023 that Club Car, a worldwide leader in golf, will renew and extend its partnership with the Professional Golfers’ Association (PGA). Also, after more than 30 years of partnership, Club Car to continue providing support to the golf industry of North America.

Market Opportunities

The alternative to traditional fuels such as gasoline, diesels, the opportunities for retrofitting and conversion to electric vehicle are on the rise. The need for reducing emissions and sustainability is gaining more popularity which provides greater opportunities to organizations specializing in electric vehicle conversion and retrofitting services. Many established and new players can utilize the advantage of the growing market to convert golf carts to eco-friendly vehicles. All these factors jointly provide significant opportunities and growth in the North America golf cart market in the forecast years.

Market Segmentation

The North America Golf Cart Market is segmented by Propulsion, by Application and by Country. Based on propulsion, the market is segmented into electric, gasoline, and solar. On the basis of application, the market is divided into Golf Course, Personal Services, and Commercial Services. The market analysis also studies the country-wise segmentation to devise the market, divided among United States, Canada, and Mexico.

Company Profiles

Yamaha Motor Co. Ltd., Platinum Equity Advisors LLC, Textron Specialized Vehicles Inc., Garia Inc., Nordic Group of Companies Ltd., JH Global Services Inc., Cruise Car Inc., Showa Denko, Elite Golf Carts, Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd. are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.

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Attribute	Details
Base Year	2022
Historical Years	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Volume in Thousand Units and Value in USD Million and CAGR for 2018-2022 and 2023-2028
Report Coverage	Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	By Propulsion By Application By Country
Country Wise Scope	United States, Canada, Mexico
Key Companies Profiled	Yamaha Motor Co. Ltd., Platinum Equity Advisors LLC, Textron Specialized Vehicles Inc., Garia Inc., Nordic Group of Companies Ltd., JH Global Services Inc., Cruise Car Inc., Showa Denko, Elite Golf Carts, Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

Report Scope:

In this report, North America Golf Cart Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

· North America Golf Cart Market, By Propulsion:

o Electric

o Gasoline

o Solar

· North America Golf Cart Market, By Application:

o Golf Course

o Personal Services

o Commercial Services

· North America Golf Cart Market, By Country:

o United States

o Canada

o Mexico

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in North America Golf Cart Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

· Detailed analysis and profiling of additional market players (up to five).

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Table of content

1. Introduction

1.1. Market Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Impact of COVID-19 on North America Golf Cart Market

5. Voice of Customer Analysis

5.1. Brand Awareness

5.2. Factors Influencing Purchase Decision

5.3. Challenges & Unmet Needs

6. North America Golf Cart Market Outlook

6.1. Market Size & Forecast

6.1.1. By Volume

6.1.2. By Value

6.2. Market Share & Forecast

6.2.1. By Propulsion Market Share Analysis (Electric, Gasoline, Solar)

6.2.2. By Application Market Share Analysis (Golf Course, Personal Services, Commercial Services)

6.2.3. By Country Market Share Analysis

6.2.3.1. United States Market Share Analysis

6.2.3.2. Canada Market Share Analysis

6.2.3.3. Mexico Market Share Analysis

6.2.4. By Company Market Share Analysis (Top 5 Companies, Others – By Value, 2022)

6.3. North America Golf Cart Market Mapping & Opportunity Assessment

6.3.1. By Propulsion Market Mapping & Opportunity Assessment

6.3.2. By Application Market Mapping & Opportunity Assessment

6.3.3. By Country Market Mapping & Opportunity Assessment

7. North America: Country Analysis

7.1. United States Golf Cart Market Outlook

7.1.1. Market Size & Forecast

7.1.1.1. By Volume

7.1.1.2. By Value

7.1.2. Market Share & Forecast

7.1.2.1. By Propulsion Market Share Analysis

7.1.2.2. By Application Market Share Analysis

7.2. Canada Golf Cart Market Outlook

7.2.1. Market Size & Forecast

7.2.1.1. By Volume

7.2.1.2. By Value

7.2.2. Market Share & Forecast

7.2.2.1. By Propulsion Market Share Analysis

7.2.2.2. By Application Market Share Analysis

7.3. Mexico Golf Cart Market Outlook

7.3.1. Market Size & Forecast

7.3.1.1. By Volume

7.3.1.2. By Value

7.3.2. Market Share & Forecast

7.3.2.1. By Propulsion Market Share Analysis

7.3.2.2. By Application Market Share Analysis

8. Market Dynamics

8.1. Market Drivers

8.2. Market Challenges

9. Market Trends and Developments

10. Policy and Regulatory Landscape

11. United States Economic Profile

12. Competitive Landscape

12.1. Company Profiles (Up to 10 leading companies)

12.1.1. Yamaha Motor Co. Ltd.

12.1.1.1. Company Details

12.1.1.2. Product & Services

12.1.1.3. Recent Developments

12.1.1.4. Key Management Personnel

12.1.2. Platinum Equity Advisors LLC

12.1.2.1. Company Details

12.1.2.2. Product & Services

12.1.2.3. Recent Developments

12.1.2.4. Key Management Personnel

12.1.3. Textron Specialized Vehicles Inc.

12.1.3.1. Company Details

12.1.3.2. Product & Services

12.1.3.3. Recent Developments

12.1.3.4. Key Management Personnel

12.1.4. Garia Inc.

12.1.4.1. Company Details

12.1.4.2. Product & Services

12.1.4.3. Recent Developments

12.1.4.4. Key Management Personnel

12.1.5. Nordic Group of Companies Ltd.

12.1.5.1. Company Details

12.1.5.2. Product & Services

12.1.5.3. Recent Developments

12.1.5.4. Key Management Personnel

12.1.6. JH Global Services Inc.

12.1.6.1. Company Details

12.1.6.2. Product & Services

12.1.6.3. Recent Developments

12.1.6.4. Key Management Personnel

12.1.7. Cruise Car Inc.

12.1.7.1. Company Details

12.1.7.2. Product & Services

12.1.7.3. Recent Developments

12.1.7.4. Key Management Personnel

12.1.8. Showa Denko

12.1.8.1. Company Details

12.1.8.2. Product & Services

12.1.8.3. Recent Developments

12.1.8.4. Key Management Personnel

12.1.9. Elite Golf Carts

12.1.9.1. Company Details

12.1.9.2. Product & Services

12.1.9.3. Recent Developments

12.1.9.4. Key Management Personnel

12.1.10. Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.

12.1.10.1. Company Details

12.1.10.2. Product & Services

12.1.10.3. Recent Developments

12.1.10.4. Key Management Personnel

13. Strategic Recommendations

13.1. Key Focus Areas

13.1.1. Target Regions

13.1.2. Target Application Type

13.1.3. Target Fuel Type

14. About Us & Disclaimer

Figures and Tables

Frequently asked questions

Which propulsion segment is leading the North America Golf Cart Market?

Currently, due to high penetration in multiple industries, gasoline segment is leading the North America Golf Cart Market.

What is the major driver in the North America Golf Cart Market?

With the introduction of electric golf carts, the demand increases, further driving the overall North America golf cart market.

Who are the top players in the North America Golf Cart Market?

The major player contributing North America Golf Cart Market are Yamaha Motor Co. Ltd., Platinum Equity Advisors LLC, Textron Specialized Vehicles Inc., Garia Inc., Nordic Group of Companies Ltd., JH Global Services Inc., Cruise Car Inc., Showa Denko, Elite Golf Carts, Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.

What are the challenges in the North America Golf Cart Market?

Limited access to public places possesses a major challenge in the North America golf cart market, by 2028.

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Press Release

United States is leading with majority of shares in the Golf Cart Market and is Expected to Witness Growth

Oct, 2023

Increasing demand for zero emission vehicles and usage in multiple industry applications are factors majorly driving the growth of North America golf cart market in the forecast period 2024-2028.