The global golf cart battery market size was US$ 122.8 million in 2021. The global golf cart battery market size is estimated to reach US$ 205.7 million by 2030, growing at a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2022 to 2030.
Golf carts are utilized for numerous goals like deploying golf carts in the tourism industry primarily in sacred places for more aged people and for other commuting objectives due to which the need for golf carts will grow in coming years. It does not operate without batteries, so the battery utilized in the golf cart is an unavoidable accessory.
Factors Influencing Market Growth
• The increasing popularity of camper homes, lithium-ion batteries, electric cart buggies, golf carts, and urbanization drive the overall market expansion.
• The increasing in-depth cost of golf cart batteries as it does not cause any pollution, thus secure for the environment. Thus, driving the overall market expansion.
• The increasing need for electric vehicles drives the overall market growth.
• Construction of new resorts, hotels, golf resorts, and golf courses is anticipated to grow, which ultimately drives the overall market expansion.
Effect of the COVID-19 Pandemic
COVID-19 had a severe impact on the overall market expansion. Many sectors were forced to halt processes due to the strict lockdowns enforced in many countries. The global market was impacted in 2020 by the coronavirus disease of 2019 on a worldwide scale. It initiates travel bans, flight cancellations, quarantines, restaurant closures, limitations on all indoor occasions, crises announced in multiple countries, unpredictability in the stock market, a substantial downshift in the supply chain, a drop in business security.
Asia-Pacific had the highest global market in 2021 and is anticipated to stay the fastest-growing component during the analysis period. This is due to the increase in the need for renewable power generation in many countries. Various nations notice the increase in the need for continuous and stable power supply owing to the rise in population, and is, therefore, anticipated to drive the expansion of the overall market.
The prominent players in the global golf cart battery market are:
• ReLiON Batteries
• Leoch International Technology
• Samsung SDI
• GS Yuasa
• Exide Industries
• East Penn Manufacturing
• C And D Technologies
• Crown Battery Manufacturing
The global golf cart battery market segmentation focuses on Voltage Rating, Type, Application, and Region.
Segmentation on the basis of Voltage Rating
Segmentation on the basis of Type
• Lead Acid
Segmentation on the basis of Application
• Golf Course
• Personal Services
• Commercial Services
Segmentation on the basis of Region
• North America
• The U.S.
• Western Europe
• The UK
• Rest of Western Europe
• Eastern Europe
• Rest of Eastern Europe
• Asia Pacific
• Australia & New Zealand
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Rest of South America