Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Golf Cart Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
How Will the Golf Cart Market Grow Between 2024 and 2025?
The size of the golf cart market has consistently increased over the past few years. The market size is expected to rise from $1.72 billion in 2024 to $1.79 billion in 2025, with a compound annual growth rate (CAGR) of 4.0%. The historical growth trend for the Golf Cart Global Market Report 2025 shows a steady increase.
How Much Will the Golf Cart Market Be Worth in 2029?
The Golf Cart Global Market is predicted to reach a valuation of $2.21 billion in 2029, with a compound annual growth rate (CAGR) of 5.4%.
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Which Golf Cart Market Drivers Are Linked to Revenue Growth?
The key drivers in the golf cart market are:
• Rapid rate of urbanization
• Heightened support from government bodies
• Rising older population who are active golf players
• Growth in both the international and national tourism sectors
Which Segments Are Expected to Grow in the Golf Cart Market?
The golf cart market covered in this report is segmented –
1) By Product Type: Push-Pull Golf Cart, Gasoline Golf Cart, Electric Golf Cart, Solar Powered Golf Cart
2) By Operation: Manual, Powered
3) By Ownership: Rented, Fully Owned
4) By Application: Golf Course Use, Personal Use, Commercial Use
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What Are The Key Trends Impacting Growth In The Global Golf Cart Market?
The key trends in the golf cart market are:
• Strategic partnerships and collaborations among market players are emerging trends.
• A heightened focus on electric golf carts is a significant trend.
• Greater emphasis on the development of customizable golf carts is becoming prevalent.
• The increasing emphasis on sustainability and green energy solutions is steering the market.
Who Are the Key Competitors in the Global Golf Cart Market?
Major players in the golf cart market are:
• Textron Inc.
• Yamaha Motor Co., Ltd
• Club Car LLC
• Marshell Green Power Co. Ltd
• Guangdong Lvtong New Energy Electric Vehicle Technology Co Ltd
• Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd
• HDK Electric Vehicle
• JH Global Services Inc
• Dongguan Excar Electric Vehicle Co., Ltd
• STAR EV Corporation
• Xebio Group
• Kandi Technologies Corporation
• Borcart
• HillBilly Australia
• Garia Luxury Golf Car
• Stewart Golf Limited
• Melex
• Icon Golf Cart
• CCE Golf Cars
• Mission Golf Cars
• Inland Hobbs Material Handling
• Ness Turf Equipment
• King of Carts, LLC
• Nivel Parts
• Motor Appliance Corp
• Golf Cart Parts Company
• Sol Patch International, Inc
• Bugle Forklift Sales & Rentals LTD
• Royal Impex
• Neuron Energy
• First International Specialized Vehicles Trading LLC
• H I C Battery FZCO
• Eazytech
• Royal Elite Valet Parking Company
• Smith Power Equipment
• Golf Car Worx
• Evo Motors
Where Is the Golf Cart Market Growing Fastest Between 2025 and 2029?
North America was the largest region in the golf cart market in 2024
