Golf Cart Battery Market Highlights:
Global industry is expected to grow faster than ever before due to new technologies and various key industry players choosing multiple business tactics to expand globally by 2030.
Government policies and various regulations are playing vital role in this industry. Regional market growth is outstanding post pandemic. Some drivers and trends are helping the industry to grow at a high CAGR during forecast period 2023-2030.
Golf Cart Battery Market is projected to grow at 6.50% CAGR during the forecast period.
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Scope Of Golf Cart Battery Industry Ecosystems
Market Segmentation:
The global golf cart battery market has been segmented based on battery type, product type, and application.
- Based on battery type, the golf cart battery market is divided into lithium-ion and lead acid batteries. The lithium-ion segment is expected to hold the largest share within the global market during the forecast period. Increasing concerns regarding global warming and environmental pollution may be well served with advances in lithium-ion batteries. Moreover, the manufacturing cost of lithium-ion batteries is declining significantly, which is expected to increase the scale of production for lithium-ion batteries.
- Based on product type, the golf cart battery market is divided into 6V, 8V, and 12V. The 6V segment is expected to hold the largest share during the forecast period due to its wide application to power golf cars, electric boats, and others.
- By application, the global market is divided into golf cart, electric coach, and others. The golf cart is expected to hold the largest share globally due to growing golf tourism.
Scope of the Report
- Battery type
- Lithium-ion battery
- Lead acid battery
- Product type
- 6V
- 8V
- 12V
- Application
- Golf cart
- Electric coach
- Others
Regional Analysis:
The cart battery market has been segmented into five regions: Asia-Pacific, the Middle East Africa, Europe, North America, and South America.
- North America is expected to hold the largest share of the market during the forecast period. The growing exposure of golf as a sport and high demand from commercial establishments is supporting the demand for golf cart batteries in the region.
- Europe is expected to be the second-largest market for golf cart batteries owing to the increasing deployment of advanced batteries in electric barges and boats.
- In Asia-Pacific, countries such as China and India are significantly focusing on the automotive sector, which is expected to be one of the major end users of golf cart batteries owing to its large population base.
- In the Middle East Africa and South America, golf cart batteries gain exposure due to urbanization.
By Region
- North America
- Asia-Pacific
- Europe
- Middle East Africa
- South America
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Key Players
The Key Players in the Global Golf Cart Battery Market are CD Technologies Inc., Clarios, Crown Battery Manufacturing Co., Enersys, East Penn Manufacturing Co., Inc., Exide Industries Ltd, GS Yuasa Corp., Samsung SDI Co. Ltd., Leoch International Technology Ltd., and ReLiON Batteries.
