North America Golf Cart Market Expected to Reach USD 1.13 Billion

Categories: Golf Resorts & TripsResorts & Trips

The growing trend of electric golf carts in residential communities is driving market growth.

News Summary

The North American golf cart market is projected to grow significantly, reaching a valuation of USD 1.13 billion by 2033, up from USD 0.68 billion in 2024. This growth, attributed to the rising popularity of electric models and their diverse applications beyond golf courses, showcases a compound annual growth rate (CAGR) of 5.82%. The increasing number of golf participants and advancements in golf cart technology, including smart features and solar-powered options, are further driving the market expansion, despite some challenges such as high costs and regulatory issues.

City, State – The North America golf cart market is set to reach a valuation of USD 1.13 billion by 2033, growing from USD 0.68 billion in 2024, according to recent market research. This expansion signifies a compound annual growth rate (CAGR) of 5.82% from 2025 to 2033. Factors contributing to this growth include increased adoption of electric models and the versatility of golf carts beyond traditional golf course use.

The market is anticipated to see a steady rise, with an estimated size of USD 0.72 billion in 2025. This growth is fueled by the rise in golf participation—over 24 million Americans played golf on courses in 2023—and an expanding use of golf carts in environments such as residential communities, industrial sites, resorts, and recreational facilities.

Growth of Electric Models

Electric golf carts are becoming increasingly prominent within the market, comprising over 60% of newly sold golf carts in North America in 2023. This trend is driven by heightened environmental awareness and regulatory support; more than 80% of new golf cart purchases in Canada were electric models in 2023. In the U.S., electric carts accounted for nearly 70% of total unit sales in the same year. The enhanced performance of electric models, aided by advancements in lithium-ion battery technology—which provides a 40% greater energy density than traditional lead-acid batteries—has also encouraged their adoption.

Applications and Uses

Golf carts are increasingly recognized for their versatility. In addition to conventional uses on golf courses, they are finding applications in gated communities and large commercial complexes as eco-friendly transportation solutions. The golf course segment, which hosts over 14,000 golf facilities in the U.S., remains the largest market share contributor. Furthermore, the commercial services sector is gaining traction, projected to grow at a CAGR of 11.8% as golf carts are utilized for urban mobility and logistics.

Technological Innovations

Manufacturers are investing in smart technologies aimed at enhancing the functionality of golf carts. Features like GPS tracking, telematics, and mobile app integration are becoming common, appealing to tech-savvy consumers and businesses alike. Additionally, solar-powered golf carts are gaining traction, with a significant growth rate of 14.2% anticipated during the forecast period.

Challenges Facing the Market

Despite promising growth prospects, certain challenges continue to impede market advancement. The high initial cost associated with electric models poses a barrier for many consumers, particularly small club owners, with nearly 40% identifying affordability as a key challenge. Furthermore, inconsistent regulations regarding the legal use of golf carts on public roads are evident, with only 28 states having established laws permitting low-speed vehicles as of early 2023, hindering wider adoption.

Additionally, supply chain volatility and rising costs of lithium-ion batteries could present future obstacles for manufacturers and consumers alike, as fluctuating prices may impact retail costs.

Market Overview and Future Outlook

The United States holds the largest share of the North American golf cart market, accounting for 83.3% in 2024, while Canada contributes 14.3%. The emergence of more golf courses, particularly in regions like Florida, where over 20 new golf courses were added between 2020 and 2023, indicates a growing demand for golf carts, with each new course requiring an average of 50-100 carts.

In conclusion, as the golf cart market in North America evolves, electric models and technological innovations are poised to lead the way. With a blending of traditional roles and new applications, golf carts are redefining their place in both recreational and urban landscapes.