Golf Cart Industry is Adopting Driverless Cart Technology

24 February 2021

Golf is a popular game that is played in more than 190 countries, while the top 20 countries currently account for almost 90% of the global golf courses. Golf has witnessed the presence of a few big names in the past, including one of the biggest, Tiger Woods. It was during the era, that the game became popular, and the US alone had 29.8 million golfers. Asian, African, and Central American countries are expected to drive the growth of golf tourism in the future. The growth in golf tourism also fuels the demand for golf supply in various parts of the world. The major revenue of the golf cart industry comes from North America as it has high number of golf courses in the world. APAC and the middle East & Africa are expected to drive the demand for golf carts, with increased construction of golf carts. The global golf cart industry revenue will grow by 1.31x by 2026.

There are several opportunities available for players catering to the global golf cart industry. These come in the form of sponsorships and partnerships with stars or emerging golfers and even setting up facility centers in markets that offer scope for expansion. The global golf cart market remains dependent on a wide range of factors. However, the most crucial factor that determines the growth of the market is the rise in demand for the game played across the globe and the need for having such equipment in the games. New cart development and consistent innovation form the key to success in the golf cart market.

Read: Golf Cart and Buggy Market Global Outlook and Forecast 2021-2026

Technology Advances in the Golf Cart Industry

The continuous technological development in the golf equipment is helping the golf cart market to grow. Additionally, golf carts play a major role in increasing efficiency in golf matches as it saves the time to cover distance between holes on the golf course and boost utility in other sectors such as medical, where golf carts are mostly used.  Infosys has also introduced new driverless golf cars, but it is witnessing legal battles in India. In addition, the promotion of sustainable green resources in golf courses and other fields of electric transportation, solar-powered carts help in eliminating the need to shift from gas-powered golf carts to solar-powered carts.

Various golf cart market players are working on the development of golf carts, which will operate on renewable energy. For instance, Sunray Cruize Car is a golf cart that operates using a solar panel placed on its roof. Technological advances have helped introduce electric golf vehicles with features such as 2-tone luxury leather seating, Bluetooth touch screen back up camera, and folding rear sear with storage compartments. Caruca has introduced its single rider golf carts that offer comfort, safety, and stability and increases the profitability of golf courses.

Increasing Golf Rental Services

Europe is one of the largest markets for golf courses, where the rental services for golf carts are also growing. SHBs Golf Buggy Hire one of the most renowned rental golf cart industry in Europe. In recent years, the golf cart rental business has grown steadily as event management companies have to hire golf carts for internal transportation. Mostly, the demand for rental golf carts is high in public events such as exhibitions, music events, and wedding events.

Golf carts are customizable according to the event and economical, thus heightening the preference for renting golf carts instead of limos or other expensive cars. Rental golf carts are also popular in weddings as buggies and golf shuttles are used to ferry guests around large wedding venues. The rise in internal transportation and changing customer demand have led many manufacturers to focus on offering golf cart rental services. Thus, the rise in large events, gatherings, and concerts propel the market for rental golf carts.

Read: Golf Equipment Market Global Outlook and Forecast 2020-2025

FAQs about the Golf Cart Industry:

Q. What is the size of the global golf cart market?

A. The global golf cart industry size to be valued at USD 4 billion by 2026

Q. What is the market growth of global golf cart industry?

A. The global golf cart industry is projected to grow at a CAGR of around 4.6% during the forecast period.

Q. What is the market segmentation of the global golf cart industry?

A. The global golf cart industry is segmented by fuel, application, end-user, seating capacity, and geography

Q. What is the market insight of the global golf cart industry?

A. The revenue of golf carts in the Middle East & Africa region is expected to reach USD 272 million by 2026 on account of the rise in golfing activities and the use of golf carts in commercial places.

Q. What are the major regions in the global golf cart market?

A. The leading regions in the golf cart industry include North America, Europe, APAC, Latin America, and Middle East and Africa.

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