Growing urbanization and a preference for environmentally friendly choices are pushing the golf cart market. According to a Future Market Insights (FMI) report, the worldwide golf cart market is expected to reach US$ 2.59 billion in 2021, growing at a CAGR of 4.3 percent from 2021 to 2031. Although the COVID-19 epidemic impacted sales, the market is expected to rebound by 2021.
The demand for solar-powered and electric vehicles is rising as the focus on renewable energy grows. The tendency can also be seen in the golf cart industry. Electric golf carts are predicted to account for over 87 percent of sales in 2021, according to FMI.
Club Car, LLC, for example. In 2019, Club Car, a leading golf cart manufacturer, debuted its lithium-ion-powered golf cart technology. Leading firms’ efforts are predicted to be beneficial to the industry.