All updated as on -
In 2023, the golf cart battery market was estimated to be worth 0.47 billion USD. From 2024 to 2032, the golf cart battery market is expected to expand from $0.48 billion to $0.67 billion, representing a CAGR (compound annual growth rate) of 7.14 percent. The main factors fueling the expansion of this market are the rising demand for golf cart modifications around the world and the quick pace of industrialization and urbanization.
The demand for reliable and high-performance batteries in golf carts is being driven by the growing dependence on these vehicles for transporting players and equipment. Demand for electric golf carts is on the rise as more and more people choose for electric vehicles as a means to reduce their environmental impact. The desire for powerful and long-lasting batteries is driven by the fact that these golf carts require them to operate. The demand for golf cart batteries has been skyrocketing in recent years, driven by factors such as the expanding worldwide market for electric cars, the increasing popularity of electric cart buggies, the rate of urbanization, and the average consumer's disposable income.
The battery is an essential component of any golf cart since it powers the vehicle. The increasing demand for golf cart batteries can be attributed to the golf carts' extensive usage around the world. A multitude of variables are propelling the worldwide market forward, such as the growing demand for lithium-ion batteries, electric cart buggies, camper homes, golf carts, and urbanization. The increasing demand for electric vehicles is also contributing to the industry's expansion. It is critical that the size and power requirements of a new battery be compatible with those of the original battery, since golf carts also use numerous batteries to provide the required voltage and amperage. Golf carts don't use a single 6V, 8V, or 12V battery, but rather a number of them. You should make sure there is just one combination on the replacement battery before buying it.
The lithium sector, which varies by type, had the largest market share of approximately 43.3% in 2021 and is predicted to continue dominating the projection period. Since they do not release any harmful substances into the atmosphere, the increasing demand for golf cart batteries is to blame. So, this upsurge should help the global market expand in the years to come.
Compared to standard lead-acid batteries, the upfront cost of golf cart batteries, particularly long-lasting and high-performance alternatives like deep-cycle batteries, is greater. In price-sensitive regions in particular, the upfront and ongoing costs of these batteries may put off potential buyers. In addition, golf cart batteries need frequent maintenance to keep them in top performance and have a limited lifespan. The battery's capacity decreases with time, which might shorten the device's range and power output. Managing golf cart batteries is an ongoing process that requires maintenance such as charging, watering, and replacement at regular intervals.
Production delays due to lockdown limitations, personnel shortages, supply chain delays, fluctuations in raw material pricing, and statewide lockdowns were among the unforeseen obstacles faced by golf cart battery market makers during the pandemic. Businesses in the transportation, hospitality, and tourism industries were also hit hard by the pandemic. Golf course owners and governments worldwide were prompted to delay final investment choices on golf cart batteries because to the COVID-19 pandemic, which slowed the growth of the business.
A combination of factors, including growing concerns about the environment, increasing fuel costs, and the global popularity of golf carts, is propelling the golf cart battery market to record highs in terms of compound annual growth rate (CAGR). Golf carts have several uses beyond the game of golf. That's why they don't limit their employment to just golf clubs. Tight regulatory regulations for golf cart batteries have emerged, particularly in industrialized nations, as a consequence of rising fuel costs and consumer and government concerns about the environment. During the projected time frame, a rise in fuel prices is anticipated to stimulate demand for golf cart batteries and raise interest in electric vehicles. During the projected period, rising fuel prices and environmental concerns are expected to drive up demand for golf cart batteries.
Government programs promoting golf cart batteries and investments in manufacturing also contributed to an improvement in people's level of living. The market is expected to grow as more people become aware of the advantages of electric cart buggies. As far as golf cart batteries go, lithium-lead acid is likely to be the most popular option. Even more so, golf carts are being used by more and more businesses as a means of transportation for staff. The tourism and hospitality industries have received substantial funding due to their importance in developing countries' service sectors. More and more businesses are investing in hotels to accommodate the growing number of tourists. More resorts, hotels, and golf courses mean more golf cart batteries will be needed in the future. Rechargeable batteries are becoming more common, which is driving the growth of the global market.
Report Coverage
Global Golf Cart Battery research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Golf Cart Battery report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Golf Cart Battery competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Golf Cart Battery market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Golf Cart Battery market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Golf Cart Battery market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Samsung SDI Co. Ltd., Exide Industries Ltd, East Penn Manufacturing Co. Inc., Leoch International Technology Ltd., C And D Technologies Inc., ReLiON Batteries, Crown Battery Manufacturing Co., Enersys, Clarios, GS Yuasa Corp.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Golf Cart Battery market based on the below-mentioned segments:
Global Golf Cart Battery Market, By Type
Lithium
Lead Acid
Global Golf Cart Battery market, By Application
Golf Course
Personal Services
Commercial Services
Global Golf Cart Battery Market, By Voltage Rating
6V
8V
12V
Global Golf Cart Battery market, Regional Analysis
The demand for reliable and high-performance batteries in golf carts is being driven by the growing dependence on these vehicles for transporting players and equipment. Demand for electric golf carts is on the rise as more and more people choose for electric vehicles as a means to reduce their environmental impact. The desire for powerful and long-lasting batteries is driven by the fact that these golf carts require them to operate. The demand for golf cart batteries has been skyrocketing in recent years, driven by factors such as the expanding worldwide market for electric cars, the increasing popularity of electric cart buggies, the rate of urbanization, and the average consumer's disposable income.
The battery is an essential component of any golf cart since it powers the vehicle. The increasing demand for golf cart batteries can be attributed to the golf carts' extensive usage around the world. A multitude of variables are propelling the worldwide market forward, such as the growing demand for lithium-ion batteries, electric cart buggies, camper homes, golf carts, and urbanization. The increasing demand for electric vehicles is also contributing to the industry's expansion. It is critical that the size and power requirements of a new battery be compatible with those of the original battery, since golf carts also use numerous batteries to provide the required voltage and amperage. Golf carts don't use a single 6V, 8V, or 12V battery, but rather a number of them. You should make sure there is just one combination on the replacement battery before buying it.
The lithium sector, which varies by type, had the largest market share of approximately 43.3% in 2021 and is predicted to continue dominating the projection period. Since they do not release any harmful substances into the atmosphere, the increasing demand for golf cart batteries is to blame. So, this upsurge should help the global market expand in the years to come.
Compared to standard lead-acid batteries, the upfront cost of golf cart batteries, particularly long-lasting and high-performance alternatives like deep-cycle batteries, is greater. In price-sensitive regions in particular, the upfront and ongoing costs of these batteries may put off potential buyers. In addition, golf cart batteries need frequent maintenance to keep them in top performance and have a limited lifespan. The battery's capacity decreases with time, which might shorten the device's range and power output. Managing golf cart batteries is an ongoing process that requires maintenance such as charging, watering, and replacement at regular intervals.
Production delays due to lockdown limitations, personnel shortages, supply chain delays, fluctuations in raw material pricing, and statewide lockdowns were among the unforeseen obstacles faced by golf cart battery market makers during the pandemic. Businesses in the transportation, hospitality, and tourism industries were also hit hard by the pandemic. Golf course owners and governments worldwide were prompted to delay final investment choices on golf cart batteries because to the COVID-19 pandemic, which slowed the growth of the business.
A combination of factors, including growing concerns about the environment, increasing fuel costs, and the global popularity of golf carts, is propelling the golf cart battery market to record highs in terms of compound annual growth rate (CAGR). Golf carts have several uses beyond the game of golf. That's why they don't limit their employment to just golf clubs. Tight regulatory regulations for golf cart batteries have emerged, particularly in industrialized nations, as a consequence of rising fuel costs and consumer and government concerns about the environment. During the projected time frame, a rise in fuel prices is anticipated to stimulate demand for golf cart batteries and raise interest in electric vehicles. During the projected period, rising fuel prices and environmental concerns are expected to drive up demand for golf cart batteries.
Government programs promoting golf cart batteries and investments in manufacturing also contributed to an improvement in people's level of living. The market is expected to grow as more people become aware of the advantages of electric cart buggies. As far as golf cart batteries go, lithium-lead acid is likely to be the most popular option. Even more so, golf carts are being used by more and more businesses as a means of transportation for staff. The tourism and hospitality industries have received substantial funding due to their importance in developing countries' service sectors. More and more businesses are investing in hotels to accommodate the growing number of tourists. More resorts, hotels, and golf courses mean more golf cart batteries will be needed in the future. Rechargeable batteries are becoming more common, which is driving the growth of the global market.
Report Coverage
Global Golf Cart Battery research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Golf Cart Battery report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Golf Cart Battery competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Golf Cart Battery market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2023 |
| Forecast Period | 2023-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Samsung SDI Co. Ltd., Exide Industries Ltd, East Penn Manufacturing Co. Inc., Leoch International Technology Ltd., C And D Technologies Inc., ReLiON Batteries, Crown Battery Manufacturing Co., Enersys, Clarios, GS Yuasa Corp. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Golf Cart Battery Market from 2021 to 2031.
- Market Forecast for Golf Cart Battery Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Golf Cart Battery competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Golf Cart Battery
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Golf Cart Battery market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Golf Cart Battery market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Samsung SDI Co. Ltd., Exide Industries Ltd, East Penn Manufacturing Co. Inc., Leoch International Technology Ltd., C And D Technologies Inc., ReLiON Batteries, Crown Battery Manufacturing Co., Enersys, Clarios, GS Yuasa Corp.
Primary Target Market
- Market Players of Golf Cart Battery
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Golf Cart Battery market based on the below-mentioned segments:
Global Golf Cart Battery Market, By Type
Lithium
Lead Acid
Global Golf Cart Battery market, By Application
Golf Course
Personal Services
Commercial Services
Global Golf Cart Battery Market, By Voltage Rating
6V
8V
12V
Global Golf Cart Battery market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive golf cart battery market market research and competitor analysis for your business to help you develop more profound insights into the golf cart battery market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the golf cart battery market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.