Summary

The U.S. golf cart market is poised for steady growth, driven by various factors that contribute to the increasing demand for these vehicles across multiple sectors. The U.S. golf cart market is poised for steady growth, with the market expected to reach a valuation of USD 800 million in 2024 and further expand to USD 1,176 million by 2031, reflecting a compound annual growth rate (CAGR) of 5.70%.Golf carts, traditionally associated with golf courses, are now finding broader applications beyond the fairways. The market is experiencing a transformation, with an expanding base of customers who are exploring diverse uses for golf carts in urban settings, industrial areas, and even personal transport.

One of the primary drivers of this market is the growing number of golf courses and country clubs across the United States. Golf remains a popular sport, and the increasing number of golf facilities is directly contributing to the demand for golf carts. However, the use of golf carts is not limited to golf courses alone. They are increasingly being utilized in various other sectors, including hospitality, tourism, and industrial applications.

The Southern United States is currently leading the market, with a significant share of golf cart sales in the country. This region's dominance can be attributed to the presence of numerous golf courses and the rising popularity of golf as a leisure activity. The Southern market is expected to maintain its leading position, with steady growth anticipated in the coming years.

Expanding Applications of Golf Carts

Golf carts are no longer confined to the boundaries of golf courses. The rise in urbanization and industrialization has led to an increase in demand for these vehicles in various other areas. Golf carts are now being used in settings such as hotels, amusement parks, airports, and even private communities. Their versatility and adaptability make them suitable for a wide range of applications.

The use of golf carts as utility vehicles is becoming increasingly common. In small communities, large apartment complexes, and university campuses, golf carts serve as efficient transportation solutions for maintenance personnel and light cargo. Their ability to navigate different terrains makes them ideal for moving goods and equipment in various environments.

In addition to their utility functions, golf carts are also gaining popularity in the travel and tourism industry. These vehicles offer a convenient and eco-friendly mode of transportation in tourist spots, heritage sites, and zoos. The use of golf carts in such locations helps reduce pollution and preserve the environment.

Customization and Technological Advancements

The market is also witnessing a growing demand for customized golf carts. Customers are increasingly seeking golf carts with specific features and designs that cater to their individual needs. This trend has led to the development of custom golf cart bodies with all-weather enclosures, air-conditioning, and other advanced features. The availability of such customized options is attracting a broader customer base, further driving market growth.

Technological advancements are playing a crucial role in the evolution of the golf cart market. Manufacturers are focusing on modernizing their product offerings by incorporating cutting-edge technologies. Solar-powered golf carts, remote-controlled features, and other innovations are becoming increasingly popular. These technologically-savvy golf carts are gaining traction among customers who seek advanced and eco-friendly solutions.

Public golf courses and country clubs have been early adopters of these advanced golf carts, as they offer an enhanced experience for their clientele. The incorporation of modern features such as launch monitors and golf robots is helping these establishments attract more customers and stay competitive in the market.

Regional Insights

The U.S. golf cart market is characterized by regional variations in demand and growth potential. The Southern United States is currently the largest market, driven by the presence of numerous golf courses and favorable weather conditions. This region is expected to continue leading the market, with steady growth anticipated in the future.

The Western United States is also emerging as a significant market for golf carts. The increasing popularity of outdoor sports and the growing demand for rental golf equipment are contributing to the market's growth in this region. The Western U.S. market is poised to become a prominent player in the golf cart industry, with a strong focus on rental services and tourism.

End-User Insights

Golf clubs remain one of the largest end-users of golf carts in the United States. The popularity of golf as a sport continues to drive demand for these vehicles, as they are essential for transporting players and equipment across golf courses. The golf club segment is expected to continue its dominance in the market, supported by the increasing number of golf facilities and the sport's sustained popularity.

In addition to golf clubs, other sectors such as hotels, resorts, and private communities are also contributing to the demand for golf carts. These vehicles offer a convenient mode of transportation within large properties, making them ideal for use in hospitality and residential settings. The growing preference for low-speed vehicles in these sectors is expected to support market growth.

Product Insights

The market offers a variety of golf cart options, including electric and gasoline-powered models. While both types have their advantages, electric golf carts are gaining popularity due to the growing emphasis on sustainability and the shift towards electric vehicles (EVs). Electric golf carts are seen as a more environmentally friendly option, and their adoption is increasing across various sectors.

The customization of golf carts is another trend that is gaining traction in the market. Customers are seeking vehicles that cater to their specific needs, whether it be for personal use, utility, or recreation. The availability of customized options is helping manufacturers cater to a wider range of customers, thereby driving market growth.

Competitive Analysis

The U.S. golf cart market is characterized by intense competition among manufacturers. In recent years, there has been a significant increase in acquisitions and expansions aimed at improving supply chain efficiency and meeting the growing demand for golf carts. Major manufacturers are focusing on providing a wide range of customized options to cater to the diverse needs of their customers.

Key Companies Profiled

•Club Car, LLC

•E-Z-GO

•Yamaha Motor Corporation

•Polaris Industries

•Textron Inc

•Garia Golf Carts

•Cruise Car Inc

•STAR EV Corporation

•Tomberlin U.S.A

•Spartan-EV

•ICON Electric Vehicles

•HDk Golf Carts

Segmentation of U.S. Golf Cart Industry Survey

By Product Type:

•Electric Golf Carts

•Gasoline Golf Carts

By Seating Capacity:

•Small (2-4) Golf Carts

•Medium (6-8) Golf Carts

•Large (10+) Golf Carts

By End Use:

•Golf Clubs

•Hotels/Resorts

•Housing Projects

•Others (Private)

•Airports

•Railways

•PSUs

•Private Communities

•Others (Gov)

By Region:

•Northeastern United States Golf Cart Market

•Western United States Golf Cart Market

•Midwestern United States Golf Cart Market

•Southern United States Golf Cart Market

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Table of Contents

1. Executive Summary
1.1. U.S. Golf Cart Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Price Analysis, 2019 - 2023
3.1. U.S. Average Price Analysis, by Product Type, US$ Per Unit, 2019 - 2023
3.2. Prominent Factor Affecting Golf Cart Prices
3.3. U.S. Average Price Analysis, by Country, US$ Per Unit
4. U.S. Golf Cart Market Outlook, 2018 – 2031
4.1. U.S. Golf Cart Market Outlook, by Product Type, Value (US$ Mn) and Volume (Units), 2018 – 2031
4.1.1. Key Highlights
4.1.1.1. Electric Golf Carts
4.1.1.2. Gasoline Golf Carts
4.2. U.S. Golf Cart Market Outlook, by Seating Capacity, Value (US$ Mn), 2018 – 2031
4.2.1. Key Highlights
4.2.1.1. Small (2-4) Golf Carts
4.2.1.2. Medium (6-8) Golf Carts
4.2.1.3. Large (10+) Golf Carts
4.3. U.S. Golf Cart Market Outlook, by End-use, Value (US$ Bn, 2018 – 2031
4.3.1. Key Highlights
4.3.1.1. Golf Clubs
4.3.1.2. Hotels/Resorts
4.3.1.3. Housing Projects
4.3.1.4. Others (Private)
4.3.1.5. Airports
4.3.1.6. Railways
4.3.1.7. PSUs
4.3.1.8. Private Communities
4.3.1.9. Others
4.4. U.S. Golf Cart Market Outlook, by Zones, Value (US$ Mn) and Volume (Units), 2018 – 2031
4.4.1. Key Highlights
4.4.1.1. West
4.4.1.2. Midwest
4.4.1.3. Southwest
4.4.1.4. Southeast
4.4.1.5. Northeast
5. West Golf Cart Market Outlook, 2018 – 2031
5.1. West Golf Cart Market Outlook, by Product Type, Value (US$ Mn) and Volume (Units), 2018 – 2031
5.1.1. Key Highlights
5.1.1.1. Electric Golf Carts
5.1.1.2. Gasoline Golf Carts
5.2. West Golf Cart Market Outlook, by Seating Capacity, Value (US$ Mn), 2018 – 2031
5.2.1. Key Highlights
5.2.1.1. Small (2-4) Golf Carts
5.2.1.2. Medium (6-8) Golf Carts
5.2.1.3. Large (10+) Golf Carts
5.3. West Golf Cart Market Outlook, by End-use, Value (US$ Bn, 2018 – 2031
5.3.1. Key Highlights
5.3.1.1. Golf Clubs
5.3.1.2. Hotels/Resorts
5.3.1.3. Housing Projects
5.3.1.4. Others (Private)
5.3.1.5. Airports
5.3.1.6. Railways
5.3.1.7. PSUs
5.3.1.8. Private Communities
5.3.1.9. Others
5.3.2. BPS Analysis/Market Attractiveness Analysis
6. Midwest Golf Cart Market Outlook, 2018 – 2031
6.1. Midwest Golf Cart Market Outlook, by Product Type, Value (US$ Mn) and Volume (Units), 2018 – 2031
6.1.1. Key Highlights
6.1.1.1. Electric Golf Carts
6.1.1.2. Gasoline Golf Carts
6.2. Midwest Golf Cart Market Outlook, by Seating Capacity, Value (US$ Mn), 2018 – 2031
6.2.1. Key Highlights
6.2.1.1. Small (2-4) Golf Carts
6.2.1.2. Medium (6-8) Golf Carts
6.2.1.3. Large (10+) Golf Carts
6.3. Midwest Golf Cart Market Outlook, by End-use, Value (US$ Bn, 2018 – 2031
6.3.1. Key Highlights
6.3.1.1. Golf Clubs
6.3.1.2. Hotels/Resorts
6.3.1.3. Housing Projects
6.3.1.4. Others (Private)
6.3.1.5. Airports
6.3.1.6. Railways
6.3.1.7. PSUs
6.3.1.8. Private Communities
6.3.1.9. Others
6.3.2. BPS Analysis/Market Attractiveness Analysis
7. Southwest Golf Cart Market Outlook, 2018 – 2031
7.1. Southwest Golf Cart Market Outlook, by Product Type, Value (US$ Mn) and Volume (Units), 2018 – 2031
7.1.1. Key Highlights
7.1.1.1. Electric Golf Carts
7.1.1.2. Gasoline Golf Carts
7.2. Southwest Golf Cart Market Outlook, by Seating Capacity, Value (US$ Mn), 2018 – 2031
7.2.1. Key Highlights
7.2.1.1. Small (2-4) Golf Carts
7.2.1.2. Medium (6-8) Golf Carts
7.2.1.3. Large (10+) Golf Carts
7.3. Southwest Golf Cart Market Outlook, by End-use, Value (US$ Bn, 2018 – 2031
7.3.1. Key Highlights
7.3.1.1. Golf Clubs
7.3.1.2. Hotels/Resorts
7.3.1.3. Housing Projects
7.3.1.4. Others (Private)
7.3.1.5. Airports
7.3.1.6. Railways
7.3.1.7. PSUs
7.3.1.8. Private Communities
7.3.1.9. Others
7.3.2. BPS Analysis/Market Attractiveness Analysis
8. Southeast Golf Cart Market Outlook, 2018 – 2031
8.1. Southeast Golf Cart Market Outlook, by Product Type, Value (US$ Mn) and Volume (Units), 2018 – 2031
8.1.1. Key Highlights
8.1.1.1. Electric Golf Carts
8.1.1.2. Gasoline Golf Carts
8.2. Southeast Golf Cart Market Outlook, by Seating Capacity, Value (US$ Mn), 2018 – 2031
8.2.1. Key Highlights
8.2.1.1. Small (2-4) Golf Carts
8.2.1.2. Medium (6-8) Golf Carts
8.2.1.3. Large (10+) Golf Carts
8.3. Southeast Golf Cart Market Outlook, by End-use, Value (US$ Bn, 2018 – 2031
8.3.1. Key Highlights
8.3.1.1. Golf Clubs
8.3.1.2. Hotels/Resorts
8.3.1.3. Housing Projects
8.3.1.4. Others (Private)
8.3.1.5. Airports
8.3.1.6. Railways
8.3.1.7. PSUs
8.3.1.8. Private Communities
8.3.1.9. Others
8.3.2. BPS Analysis/Market Attractiveness Analysis
9. Northeast Golf Cart Market Outlook, 2018 – 2031
9.1. Northeast Golf Cart Market Outlook, by Product Type, Value (US$ Mn) and Volume (Units), 2018 – 2031
9.1.1. Key Highlights
9.1.1.1. Electric Golf Carts
9.1.1.2. Gasoline Golf Carts
9.2. Northeast Golf Cart Market Outlook, by Seating Capacity, Value (US$ Mn), 2018 – 2031
9.2.1. Key Highlights
9.2.1.1. Small (2-4) Golf Carts
9.2.1.2. Medium (6-8) Golf Carts
9.2.1.3. Large (10+) Golf Carts
9.3. Northeast Golf Cart Market Outlook, by End-use, Value (US$ Bn, 2018 – 2031
9.3.1. Key Highlights
9.3.1.1. Golf Clubs
9.3.1.2. Hotels/Resorts
9.3.1.3. Housing Projects
9.3.1.4. Others (Private)
9.3.1.5. Airports
9.3.1.6. Railways
9.3.1.7. PSUs
9.3.1.8. Private Communities
9.3.1.9. Others
9.3.2. BPS Analysis/Market Attractiveness Analysis
10. Competitive Landscape
10.1. Company Market Share Analysis, 2023
10.2. Competitive Dashboard
10.3. Company Profiles
10.3.1. Club Car, LLC
10.3.1.1. Company Overview
10.3.1.2. Product Portfolio
10.3.1.3. Financial Overview
10.3.1.4. Business Strategies and Development
10.3.2. E-Z-GO
10.3.2.1. Company Overview
10.3.2.2. Product Portfolio
10.3.2.3. Financial Overview
10.3.2.4. Business Strategies and Development
10.3.3. Yamaha Motor Corporation
10.3.3.1. Company Overview
10.3.3.2. Product Portfolio
10.3.3.3. Financial Overview
10.3.3.4. Business Strategies and Development
10.3.4. Polaris Industries
10.3.4.1. Company Overview
10.3.4.2. Product Portfolio
10.3.4.3. Financial Overview
10.3.4.4. Business Strategies and Development
10.3.5. Textron Inc
10.3.5.1. Company Overview
10.3.5.2. Product Portfolio
10.3.5.3. Financial Overview
10.3.5.4. Business Strategies and Development
10.3.6. Garia Golf Carts
10.3.6.1. Company Overview
10.3.6.2. Product Portfolio
10.3.6.3. Financial Overview
10.3.6.4. Business Strategies and Development
10.3.7. Cruise Car Inc
10.3.7.1. Company Overview
10.3.7.2. Product Portfolio
10.3.7.3. Financial Overview
10.3.7.4. Business Strategies and Development
10.3.8. STAR EV Corporation
10.3.8.1. Company Overview
10.3.8.2. Product Portfolio
10.3.8.3. Financial Overview
10.3.8.4. Business Strategies and Development
10.3.9. Tomberlin U.S.A
10.3.9.1. Company Overview
10.3.9.2. Product Portfolio
10.3.9.3. Financial Overview
10.3.9.4. Business Strategies and Development
10.3.10. Spartan-EV
10.3.10.1. Company Overview
10.3.10.2. Product Portfolio
10.3.10.3. Financial Overview
10.3.10.4. Business Strategies and Development
10.3.11. ICON Electric Vehicles
10.3.11.1. Company Overview
10.3.11.2. Product Portfolio
10.3.11.3. Financial Overview
10.3.11.4. Business Strategies and Development
10.3.12. HDk Golf Carts
10.3.12.1. Company Overview
10.3.12.2. Product Portfolio
10.3.12.3. Financial Overview
10.3.12.4. Business Strategies and Development
11. Appendix
11.1. Research Methodology
11.2. Report Assumptions
11.3. Acronyms and Abbreviations