Golf Cart Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The global golf cart market size is expected to reach a value of more than USD 1.50 Billion in 2024. The industry’s projected growth is at a CAGR of 4.50% during the forecast period of 2025-2034. Demand for eco-friendly, energy-efficient transportation solutions in golf courses, resorts, and residential communities is driving the growth of the golf cart market, pushing the market to reach a value of USD 2.33 Billion by 2034.

The rise in demand for eco-friendly transportation methods is leading to the rapid growth of the golf cart market. Golf carts (also known as golf cars or golf buggies) are commonly used in golf courses as well as in residential communities. These vehicles represent an eco-friendly option for close-range transportation, and as a result have helped fuel a surge in golf tourism. As the world becomes increasingly focused on sustainability, an increasing number of people are choosing electric golf carts with lower carbon emissions. Even golf courses are embracing these vehicles to improve the player experience while promoting eco-friendly transportation. Technology is set to improve efficiency and overall aesthetic appeal as the market continues to grow in scale, all of which will add to the upsurge of golf carts worldwide.

The golf cart market growth has been gradually on the rise, due to the growing need for sustainable transportation systems. With the rise of urbanization & smart cities electric mobility options have gained increased popularity. Golf courses are now being more environmentally friendly with the introduction of these vehicles. With electric golf carts the sales have been on the rise, boosting steady growth while heading towards green alternatives which are a convenient option for recreational as well as urban commuting.

Golf Cart Market Trends

The Golf Car Industry's Rapid Electrification Will Propel Market Expansion.

One of the major features fueling the global golf cart industry is the fast electrification of the golf car sector. The electric golf carts are growing as greener options as more players and businesses turn towards more eco-friendly solutions. Electrification can reduce carbon emissions and align with the global goals focus on carbon neutrality. With manufacturers working to develop better technology and performance for batteries, electric golf carts are a friendlier option for golf courses for less costly and sustainable transportation.

As the golf car industry is quickly growing with rapid electrification, the market observes an increasing number of electric-powered models hitting the course. Battery capacities in electric models are getting better in terms of performance and range and therefore have become more attractive. This trend is likely to fuel market growth during the forecast period with sustainability and cost-efficiency taking utmost precedence.

One of the prominent market trends is the fast-paced electrification that offers increasing autonomy in the golf car industry. Through a mix of autonomous and driverless technology, golf carts are becoming smarter, which helps with increased convenience and safety. When paired with electrification, they are set to greatly propel market growth by revolutionizing the future of golf cart usage.

Key Trends and Developments

Electric, solar, and customized golf carts with advanced technologies drive market growth and innovation.

August 2024

LOBO EV Technologies has launched solar-powered golf carts, selling 33 units in the United States. This move highlights the company's commitment to sustainable transportation while tapping into the growing demand for eco-friendly, energy-efficient alternatives in the golf cart market.

July 2024

Kandi America partnered with Lowe’s to introduce NFL team-branded electric golf carts, combining eco-friendly technology with fan loyalty. These unique, branded carts cater to football fans this fall season, merging sustainability with team pride, thus attracting a niche market segment.

December 2022

Saera Electric Auto introduced its advanced electric golf cart in India, featuring a monocoque frame, luxurious interiors, an AC drive system, and LED lighting. The cart offers a premium, eco-friendly transportation solution for Indian markets.

November 2022

Neuron Energy launched the Adler electric golf cart range equipped with lithium-ion batteries and GPRS tracking. Targeting exports to the Middle East, these innovative carts are designed for better performance, tracking capabilities, and long-lasting battery life.

Rise of Electric Golf Carts

The increasing demand for eco-friendly transportation is driving the growth of electric golf carts. Electric models are popular due to their low emissions, reduced noise, and lower maintenance costs compared to gas-powered carts. For instance, Yamaha Golf-Car Company has introduced electric models like the Drive2 EFI, which offers lower fuel consumption and reduced emissions. Golf courses and resorts prefer electric carts as they are more sustainable, cost-efficient, and align with the global push toward greener practices. This trend is expected to continue, with electric golf carts becoming the standard across many regions, thus augmenting the golf cart demand growth.

Solar-Powered Golf Carts

Solar-powered golf carts are gaining popularity as they offer an even more sustainable alternative to traditional electric carts. These carts run from solar panels charged batteries, thus decreasing the usage of fossil fuels and the amount of electrical cost. LOBO EV Technologies introduced the solar-powered carts in August 2024 that were sold to 33 units in the US. The eco-aware consumers and golf course operators who want to do even better on carbon footprint will find these solar power solutions attractive. The trend is expected to continue to rise with more efficient and affordable solar technology, making it a competitive product in the golf cart market.

Customization and Premium Features

There is a rising trend toward customization and luxury features in golf carts because both golf courses and personal users are demanding more comfort and style. Brands such as Club Car have available customization models-the Onward Series, allowing the inclusion of features ranging from improved seating to larger performance tires, and incorporated Bluetooth systems. This would be attributed to the luxury that consumers desire in commodities and experiences; high carts are used not only on the golf courses but also gated communities, resorts, leisure activities. Customization and luxury options are expanding the premium golf cart market, thus boosting the golf cart market revenue.

Technological Advancements

There is a growing trend of high-tech golf carts that can integrate GPS tracking, telematics, and even autonomous driving. For instance, Neuron Energy's Adler electric golf cart was introduced in November 2022 and comes with GPRS tracking and lithium-ion batteries to enhance performance and safety. These technologies enhance the user experience by providing real-time data on vehicle performance, location, and maintenance needs, particularly for fleet management at golf courses and resorts. Such technological advancements in the industry will become quite common as consumers and businesses demand smarter solutions.

Golf Cart Market Growth Factors

Electric Golf Car Prices Are Steadily Declining, Which Will Support Market Expansion.

The steadily lowering cost of electric golf cars is a primary factor driving market growth. Thanks to the plunging prices of batteries, especially lithium-ion batteries, electric variants are starting to become more affordable and accessible. This is driving the adoption of electric models and further fueling growth. With this, electric golf cars will take the lead as they are more efficient and less expensive, propelling the market in the future.

Increased Demand from the Travel and Tourism Sector Will Fuel Market Development

Demand for golf carts is expected to continue to increase due to a surge from the tourism industry. Low-speed vehicles play a critical role in transport in expanding golf tourism industry with the need of transport over large resort areas and golf courses. With numerous destinations already embracing this simple and eco-friendly method of transportation for its convenience and low-cost services, considerable market growth is expected.

• RESTRAINING FACTORS

A Declining Global Golfer Population Could Limit Market Expansion

The decreasing number of golfers across the globe could hinder the market growth over the forecast period. The demand for golf carts throughout recreational and commercial settings could decrease with the declining number of golf players. This can have a significant impact on the revenue of the global golf cart market sales in the coming years.

Golf Cart Market Segmentation Analysis

By Product Type Analysis

High Adoption of Electric Golf Cars to Drive Segment Growth

The electric golf carts market is witnessing strong growth driven by increasing demand for sustainable and cost-effective means of transport. Electric versions are becoming popular on golf courses and residential communities due to their sustainability, reduced operating costs, and minimal environmental impact. Battery technology is advancing, and electric golf carts are providing stronger performance, greater ranges and quicker charging times.

Additionally, increasing focus on reducing carbon footprints and the growing adoption of green practices across sectors is boosting the demand for gasoline golf carts. Thanks to sustainability goals and increasingly high-profile eco-friendliness, more golf courses are choosing to invest in electric models. The growth would be further driven by an increasing focus on eco-friendly solutions by governments and businesses, pushing solar golf cart segment to grow faster than other product types available in the global market. The segment is likely to exert a strong influence in forthcoming years, aided by technological progress and changing consumer preferences for green alternatives, with a significant shift toward electrification.

By Application Analysis

Increasing Use in the Commercial Sector to Promote Segment Development

The global market for golf carts is experiencing tremendous growth through different applications, fueled by growing demand in recreational and commercial markets. Golfers depend greatly on golf carts to move around the course effectively, with advanced technology improving the experience. The use of GPS systems, electric motors, and other advanced features provides better performance, convenience, and sustainability. With advancing technology, the need for sophisticated golf carts keeps growing, further fueling market growth.

An emerging trend in the industry is the rising dependence on golf carts in the commercial sector. Golf carts are increasingly being adopted for a range of commercial applications, including resorts, large campuses and industrial facilities. Due to their cost-efficiency and eco-friendly nature, businesses are employing these vehicles in transportation, maintenance, and logistics. Due to the need and practicality of such operations, it is anticipated that the commercial sector will drive the demand for golf carts, particularly in smart city developments as urbanization spikes.

In addition, the increasing personal/residential implementation of electric golf carts is also contributing to the growth of the segment. They are favored especially in environments where low-emission, quiet and efficient transportation is needed. Due to the recent global push to decrease the carbon footprint, electric golf carts are becoming more widespread in residential uses. These are not only operationally effective but also environmentally responsible.

Regional Insights

North America Golf Cart Market Trends

The North American golf cart market has always been one of the most dominant markets. Specifically, the U.S. holds a significant share in the golf carts market owing to the well-established golf culture and high adaptation of golf carts. Golf courses, resorts and residential communities in this region have turned, in increasing numbers, to electric golf carts due to their cost-effectiveness and sustainability. The demand for environmentally friendly transportation means and improvements in battery technology have also been a key factor in the growth of electric models. Additionally, the focus of the region on preserving the environment and promoting green causes has fostered the demand for low-emission vehicles like electric golf carts. Government incentives and EV infrastructure also help support market growth.

Europe Golf Cart Market Trends

There is a constant growth in the golf cart market in Europe which is driven by sustainability and environmental policies. Many of the European nations now have a focus on eco-friendly transport. Hence, golf courses and resorts in this region are increasingly switching to electric golf carts under the green initiative. Electric golf cart production in the region has surged as electric vehicles and carbon neutrality gain traction in the region. In addition, the rising trend of golf tourism in nations such as Spain and Portugal have led to a growing number of commercial establishments that provide golf carts for the convenience of their customers.

Asia Pacific Golf Cart Market Trends

The Asia Pacific region is expected to see significant growth. This is due to the expanding golf tourism industry and rising urbanization. Japan, China, and Australia are growing markets, while golf courses and resorts are increasingly opting for golf carts to serve increasing tourism. Additionally, a swift rate of urbanization and the use of golf carts in residential communities, resorts, and commercial complexes are projected to boost the market growth. Countries in the region are increasingly looking to combat pollution and drive sustainable mobility solutions, boosting the surge in electric models. The demand for golf carts, especially electric and eco-friendly types, is being fueled due to the growing middle class and resulting disposable income.

Latin America Golf Cart Market Trends

The golf cart industry in Latin America is expanding due to the increasing number of golf courses and resorts. Countries including Mexico, Brazil, and Argentina are seeing the number of golf courses increase, which leads to a growing demand for golf carts. With the continuous growth of tourism in the region as well as golf tourism, more establishments are investing in golf carts to enhance the guest experience. Latin American countries are also working to decrease emissions and achieve environmental sustainability while electric models gain more traction.

Middle East and Africa Golf Cart Market Trends

The Middle East and Africa golf cart market is expanding with relatively steady growth owing to increased investments in tourism and hospitality infrastructure. In the United Arab Emirates, Saudi Arabia, and South Africa, golf courses, resorts, and large-scale communities are increasingly adopting golf carts to improve guest experience and reduce their environmental footprints. The demand for luxury and leisure facilities is high in the Middle East. Sustainable practices and green tourism are gaining popularity in several countries across Africa, driving the market. Despite the market being comparatively smaller than the other regions, the rising adoption of electric golf carts in the region will significantly contribute to the growth in the following years.

List of Key Companies in Golf Cart Market

Leveraging Strategic Alliances and Partnerships to Increase Competition

Strategic alliances and collaborations are fast becoming a major driving force within the golf cart industry. Additionally, market players are improving the battery to boost performance and modernizing technologies with an emphasis on Bluetooth and GPS communication. In order to meet the growing demand for vehicles that are both environmentally friendly and lifestyle-oriented, golf cart manufacturers are concentrating on high customization, which may involve customizing the design or partnering with brands like NFL teams.

Yamaha Motor Co., Ltd.

Yamaha Motor Co., Ltd., founded in 1955, is a major mobility manufacturer, headquartered in Shizuoka, Japan. Its product portfolio includes motorcycles, e-bike systems, golf cars, industrial robots, and electric motors, among others.

Garia ApS

Garia ApS, incorporated in 2005, is a producer of luxury golf cars, with its headquarters in Greve, Denmark. The company mainly offers high-end two, four, and six-seater golf cars that are inspired by Danish designs.

Textron Inc.

Textron Inc. is a multinational provider of aerospace and defence and industrial products, established in 1923 and based in Rhode Island, the United States. Some of its popular brands include Bell, Cessna, Pipistrel, Kautex, and Textron Systems, among others.

LIST OF KEY COMPANIES PROFILED:

• Yamaha Motor Co., Ltd.
• Garia ApS
• Textron Inc.
• Marshell Electric Vehicle Co., Ltd.
• Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.
• HDK Electric Vehicle
• Dongguan Excar Electric Vehicle Co., Ltd.
• Club Car, LLC
• STAR EV Corporation
• Speedways Electric
• Cruise Car, Inc.
• JH Global Services, Inc.
• SHOWA DENKO K.K.
• Columbia Vehicle Group Inc.
• Others

KEY INDUSTRY DEVELOPMENTS

March 2025

Yamaha Motor Company declared that in June 2025, it will introduce the G30E and G31EP, two new five-seater electric golf carts, in Japan. Additionally, the business intends to eventually release both models to the Taiwanese market. The manually operated G31EPs and electromagnetically guided G30Es, both of which are outfitted with a vehicle control unit and a recently designed lithium-ion battery, make up the new lineup.

November 2024

Massimo Group, a producer and distributor of pontoon boats and powersport vehicles, announced the arrival of its new MVR Series electric carts, which include the MVR Cargo Max Utility Cart and the MVR 2X Golf Cart. The growing need for low-speed electric vehicles (LSVs) that are adaptable for both professional and recreational use is being satisfied by these high-performance electric cars.

August 2024

A new solar-powered golf cart was introduced by LOBO EV Technologies, and 33 of the units in its first manufacturing run have already been sold to consumers in the US. This is the third time the company has successfully exported golf carts to the United States, bolstering its expanding market share.

July 2024

In collaboration with Lowe's, Kandi America, a pioneer in off-road electric vehicle innovation, unveiled a limited-edition golf cart line that features the designs and emblems of all 32 NFL teams. With a strong 5,000-watt engine and a 48V lithium 150Ah battery, these carts are made to provide enthusiasts with an experience they won't soon forget.

June 2023

Textron Specialized Vehicles company E-Z-GO unveiled the new street-legal Liberty LSV and a modernized Freedom RXV model that combines a pleasant ride with a sleek new appearance. The Liberty LSV can be driven on public highways with posted speed limits of 35 mph or below in the majority of states, and it satisfies all NHTSA requirements for an LSV, including a top speed of 25 mph.

January 2023

The MadJax XSeries Storm, a new golf cart under Nivel's MadJax brand, was introduced by Nivel Parts & Manufacturing. The golf cart will be offered for sale through Nivel's dealer partners across the United States, with a focus on secondary and recreational transportation customers.

Golf Cart Industry Segmentation

“Golf Cart Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Electric Golf Cart
• Gasoline Golf Cart
• Solar Golf Cart

Market Breakup by Application

• Golf
• Personal/Residential
• Commercial

Market Breakup by Region

• North America
• United States of America
• Canada
• Europe
• United Kingdom
• Germany
• France
• Italy
• Others
• Asia Pacific
• China
• Japan
• India
• ASEAN
• Australia
• Others
• Latin America
• Brazil
• Argentina
• Mexico
• Others
• Middle East and Africa
• Saudi Arabia
• United Arab Emirates
• Nigeria
• South Africa
• Others