Golf Cart Battery Market: Segmentation Analysis
The market research report segments the golf cart battery market by Type (Lead-acid battery and Li-ion battery) and Geography (North America, APAC, Europe, South America, and MEA). The numerous golf courses, coupled with the huge number of golf enthusiasts and the demand for golf carts from commercial establishments, are expected to drive the demand for golf cart batteries globally during the forecast period.
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Golf Cart Battery Market: Major Driver
- An increase in the popularity of professional golf tournaments is the major driver for the golf cart battery market.
- The interest in professional golf tournaments is increasing steadily as the sport continues to increase in popularity as a championship game. Owing to its global expansion and popularity, golf was re-introduced as an Olympic sport at the 2016 summer Olympics held in Rio de Janeiro after 112 years. Professional golf tournaments are experiencing substantial growth in viewership in recent years.
- For instance, final day coverage of the Professional Golfers Association (PGA) Championship by National Broadcasting Co. (NBC) held in Paris, France, in October 2018 had a total audience delivery of 2.71 million, an increase of almost one-fifth over 2014. Thus, the growing popularity of professional golf tournaments and the increasing participation rates are driving the demand for golf carts, and subsequently, will drive the growth of the global golf cart battery market during 2021-2025.
Golf Cart Battery Market: Major Trend
- Multiple uses for golf carts are the major trend driving the growth of the golf cart battery market.
- The use of golf carts is not limited only to golf courses, as they are being used for various other commuting purposes. The trend of using golf carts for daily transportation is a growing trend. Battery-powered golf carts do not involve any major emissions; therefore, compliance with stringent regulations on vehicular emissions and the rising fuel prices are contributing to their growing popularity in transport or short commute applications, such as shopping, commuting inside a neighborhood, recreational purposes, and on planned community roads.
- Golf carts are also becoming popular among older people because of the convenience and low speeds at which they operate. Another sector that is widely deploying golf carts is the tourism sector, especially places of religious pilgrimage that are visited by a large number of ailing pilgrims and older people. Therefore, the growing use of golf carts for various purposes will drive the demand for
The competitive scenario provided in the Golf Cart Battery Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don’t wait, Make a strategic approach & boost your business goals with our Golf Cart Battery Market Forecast Report – Buy Now!
- The cylindrical lithium-ion battery market share is expected to increase to USD 11.88 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.42%.
- The solar PV market share in APAC is expected to increase to USD 150.13 million by 2026, and the market’s growth momentum will accelerate at a CAGR of 21.74%.
Golf Cart Battery Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 3.37%
Market growth 2021-2025
USD 58.48 million
YoY growth (%)
North America, APAC, Europe, South America, and MEA
Performing market contribution
North America at 59%
Key consumer countries
US, Canada, Japan, UK, and Australia
Leading companies, competitive strategies, consumer engagement scope
Brookfield Business Partners L.P., C and D Technologies Inc., Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., Exide Technologies, GS Yuasa Corp., Leoch International Technology Ltd., and Samsung SDI Co. Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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Table of Content
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis: Renewable electricity
3 Market Sizing
- 3.1 Market Definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.4 Market outlook: Forecast for 2020 – 2025
- Exhibit 06: Global – Market size and forecast 2020 – 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 – 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08:Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition – Five forces 2020
5 Market Segmentation by Type
- 5.1 Market segments
- Exhibit 15: Type – Market share 2020-2025 (%)
- 5.2 Comparison by Type
- Exhibit 16: Comparison by Type
- 5.3 Lead-acid battery – Market size and forecast 2020-2025
- Exhibit 17: Lead-acid battery – Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Lead-acid battery – Year-over-year growth 2020-2025 (%)
- 5.4 Li-ion battery – Market size and forecast 2020-2025
- Exhibit 19: Li-ion battery – Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Li-ion battery – Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by Type
- Exhibit 21: Market opportunity by Type
6 Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 23: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 24: Geographic comparison
- 7.3 North America – Market size and forecast 2020-2025
- Exhibit 25: North America – Market size and forecast 2020-2025 ($ million)
- Exhibit 26: North America – Year-over-year growth 2020-2025 (%)
- 7.4 APAC – Market size and forecast 2020-2025
- Exhibit 27: APAC – Market size and forecast 2020-2025 ($ million)
- Exhibit 28: APAC – Year-over-year growth 2020-2025 (%)
- 7.5 Europe – Market size and forecast 2020-2025
- Exhibit 29: Europe – Market size and forecast 2020-2025 ($ million)
- Exhibit 30: Europe – Year-over-year growth 2020-2025 (%)
- 7.6 South America – Market size and forecast 2020-2025
- Exhibit 31: South America – Market size and forecast 2020-2025 ($ million)
- Exhibit 32: South America – Year-over-year growth 2020-2025 (%)
- 7.7 MEA – Market size and forecast 2020-2025
- Exhibit 33: MEA – Market size and forecast 2020-2025 ($ million)
- Exhibit 34: MEA – Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 35: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 36: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.2 Market challenges
- Exhibit 37: Impact of drivers and challenges
9 Vendor Landscape
- 9.1 Overview
- Exhibit 38: Vendor landscape
- 9.2 Landscape disruption
- Exhibit 39: Landscape disruption
- Exhibit 40: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 41: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 42: Market positioning of vendors
- 10.3 Brookfield Business Partners L.P.
- Exhibit 43: Brookfield Business Partners L.P. – Overview
- Exhibit 44: Brookfield Business Partners L.P. – Business segments
- Exhibit 45: Brookfield Business Partners L.P. – Key offerings
- Exhibit 46: Brookfield Business Partners L.P. – Segment focus
- Exhibit 47: C and D Technologies Inc. – Overview
- Exhibit 48: C and D Technologies Inc. – Product and service
- Exhibit 49: C and D Technologies Inc. – Key offerings
- List of Abbreviations
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