Golf Cart Battery Market Size, Share, Growth, and Industry Analysis, By Type (6V, 8V, 12V), By Application (Golf Carts, Electric Coach, Others), Regional Insights and Forecast From 2025 To 2033

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GOLF CART BATTERY MARKET REPORT OVERVIEW

Global golf cart battery market size was projected at USD 0.49 billion in 2024 and is anticipated to reach USD 0.73 billion by 2033, registering a CAGR of 4.4% during the forecast period.

A golf cart or golf cart is a small vehicle designed to transport two golfers and their golf clubs around the golf course. Golf carts come in many different shapes and are used to transport a small number of passengers at lower speeds and shorter distances. According to the American National Standards Institute (ANSI), a golf cart is a self-propelled vehicle powered by electric and commercial internal combustion engines, typically designed and used to transport golfers and their equipment on golf courses. Battery-electric vehicles (BOV) used for internal transport of people and materials with an average speed of 25-50 km/h.

One of the major factors driving the market growth is the increasing popularity of professional golf tournaments. With this knowledge, clients can design growth strategies that capitalize on opportunities and effectively neutralize challenges. Golf carts are becoming increasingly popular for a variety of purposes, including transportation around golf courses, gates and campuses. This will increase the demand for golf cart batteries. Lithium-ion batteries are also lighter and easier to maintain than lead-acid batteries.

COVID-19 IMPACT

"Market Growth Restrained by Pandemic due to Supply Chain Disruptions"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

To prevent the spread of COVID-19 disease, India has ordered a statewide lockdown. Because of the lack of staff, the manufacturing facilities struggled to move the products, causing the supply chain and logistics of the golf manufacturing businesses to suffer. As a result, the COVID-19 pandemic hampered India's market growth. In addition, US manufacturing companies have faced a supply chain and demand crisis due to labor shortages, which has hindered the growth of the golf cart battery market. In addition, other industries such as pharmaceuticals, chemicals, healthcare, textiles and automobiles have halted operations and production due to a lack of funding for R&D, which in turn has slowed market growth during the pandemic. Thus, all these factors have compounded the slow growth of the global golf cart battery market in 2021.

LATEST TRENDS

"Growing Popularity Of Custom Golf Carts Leading To Market Expansion "

A recent trend in the Indian golf cart market is increasing demand for end-user customization in terms of vehicle aesthetics and seating capacity. There is a growing demand for luxury, vintage and outdoor food carts in India. The golf cart market in India is nascent and thus technological advances have several opportunities to exploit. Another important development to increase the reliability of golf carts is the introduction of the solar-electric hybrid. The development of batteries such as lithium ion batteries and lithium polymer batteries is expected to significantly expand the driving range and carrying capacity of golf carts.

GOLF CART BATTERY MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into 6V, 8V, 12V.

The 6V golf cart battery offers a shallower depth of discharge, longest range of 56 amps, higher capacity, offers more charge cycles than other voltage batteries and longer life, making it increasingly used to transport golfers and equipment around the golf course expected to increase the demand for golf cart batteries.

By Application

Based on application the global market can be categorized into Golf Carts, Electric Coach, Others.

A golf cart is a small motorized vehicle originally designed to transport two golfers and their golf clubs around the golf course with less effort than walking.

DRIVING FACTORS

"Advances in Technology Can Provide Great Growth Opportunities "

The growing popularity of professional golf tournaments is the major driver of the golf cart battery market. Interest in professional golf tournaments continues to grow as the sport grows in popularity as a championship game. Thanks to its global expansion and popularity, golf was reinstated as an Olympic sport at the 2016 Summer Olympics in Rio de Janeiro after 112 years. The increasing popularity and increasing participation rate of professional golf tournaments will therefore drive the demand for golf carts and drive the growth of the global golf cart battery market from 2021 to 2025.The increased reliance on golf carts to transport equipment and players increases the need for reliable and efficient batteries in these carts. The adoption of electric vehicle due to the emphasis on environmental sustainability is increasing the demand for electric golf carts. In recent years, the global electric car market and increasing adoption of electric carts, along with rapid urbanization and rising disposable incomes, have significantly increased the demand for the golf cart battery market.

"Growing Interest And Innovations In Golf Carts Are Fueling The Market Growth "

The Golf Cart Battery Market CAGR is driven by the increasing demand for golf cart batteries due to rising fuel prices, environmental concerns and widespread adoption of golf carts, with the demand for batteries increasing across the globe. Golf carts have many applications outside of golf. That's why you didn't realize they only work on golf clubs. Rising fuel prices and environmental concerns from governments and customers have led to tight government guidelines for golf cart batteries, especially in industrialized countries. The price of fuel is rising the forecast period will increase the interest in electric vehicles and increase the demand for golf cart batteries.

RESTRAINING FACTORS

"High Cost and High Maintenance to Impede Market Growth"

While electric golf carts are more cost-effective in the long run, they often have higher upfront costs than their traditional gasoline counterparts. This may discourage golf courses, resorts and individuals from considering the purchase of a battery electric golf cart. Factors such as usage, charging practices and maintenance affect the lifespan of electric golf cart batteries. Battery replacement can be a costly expense for golf courses and users, affecting overall costs.

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GOLF CART BATTERY MARKET REGIONAL INSIGHTS

"North America Dominating the Market due to Presence of a Large Consumer Base"

North America dominated the golf cart battery market share in 2020 and is expected to continue its dominance in the coming years. The U.S. accounted for the largest market share in the North American golf cart market. The market is led by the largest number of golf courses in the U.S. For example, according to the National Golf Foundation, there were more than 16,100 golf courses in the U.S. at the end of 2020. In addition major key players such as Yamaha Golf-Car Company, Textron Inc and the presence of other regions are expected to accelerate the golf cart battery market growth in the coming years.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The golf cart battery market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. The market is moderately fragmented due to the presence of various regional players. However, companies use strategic partnerships with regional and international players to expand geographically and develop their product range to attract a wider consumer base to strengthen their position in the global market. For example, in October 2021, Indian electric car company Kinetic Green Energy and Power Solutions announced a partnership with the Lamborghini family to jointly develop the global market. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Top Golf Cart Battery Companies

• Crown Battery (U.S.)
• East Penn Manufacturing (U.S.)
• Exide Technologies (France)
• EnerSys (U.S.)
• RELiON Batteries (U.S.)

INDUSTRIAL DEVELOPMENT

June 2023: Trojan Battery Company has partnered with The GolfCartFarm, an online retailer of golf cart accessories and parts, allowing the latter to sell its lithium-ion batteries. The strategic partnership improves the functionality and longevity of golf carts and utility vehicles by providing owners with easy access to high-quality lithium-ion batteries.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.