Golf Cart Market by 2026 Capacity, Production,
Revenue, Regions, Players
Golf Cart Market study provides key insights about market drivers,
restraints, opportunities, new product launches or approval, regional
outlook, and competitive strategies adopted by the leading players.
The global golf cart market was valued at US$ 3,262.3 million in 2016 and is projected to exhibit
a CAGR of 5.95% during the forecast period (2017–2025), reaching US$ 5,590.0 million by 2025.
Growing urbanization and industrialization are some of the factors driving growth of the global
golf cart market. However, high initial costs associated with golf carts is major factor hindering
growth of the market. Moreover, lack of infrastructure for charging points of golf carts in
emerging economies hinders growth of the golf cart market.
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The increasing urbanization and industrialization in emerging economies have fueled growth
of the golf cart market
Increasing urbanization and industrialization in various emerging economies such as South
Korea, Brazil, South Africa, China, and India are expected to boost mall culture, theme parks,
amusement parks, and smart housing projects, among others. This is expected to increase
demand for golf carts for internal transportation in malls to carry goods and people.