How much is a Golf Cart: An Analysis of the Market

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How much is a Golf Cart

Golf carts have had numerous uses throughout the years. It’s a useful vehicle to get around not only in golf courses but also in small communities. The golf cart is much simpler to operate and it is easier to move around due to its size that it is necessary where travel could be far but doesn’t require full-length cars as well.

Having said that, this article is an analysis of the golf cart market. How much is a golf cart? We’ll discuss the aspects that affect its share in the industry, its price with a little bit of history, and anything that comes in between.

History of Golf Carts

How much is a Golf Cart

In 1932 the first homemade golf cart was made. It quickly became popular with people who had disabilities. It was already in the early 1950s when it gained widespread usage on golf courses. These were the early electric golf carts. Merle Williams from California based the concept from cars produced from the WW2.

In 1963 heavy hitter Harley-Davidson started manufacturing them.

In the 1970s the gas golf car made its debut and it was a hit in the masses. To date, you’ll see both electric and gas golf carts operating in different places. The G-1 was born out of Yamaha in 1979 with a two-stroke oil injection system and its electric counterpart was born just a year later.

To date a lot of communities uses golf carts these are campgrounds, farms, apartment complex, beaches, storage unit personal, large warehouses, and even used for hunting or any personal purposes.

It’s convenient and handy and so don’t expect it to go away any time soon.

How much is a Golf Cart? Get to know through our Market analysis

By the end of 2019, the golf cart market is estimated to reach US $3 billion. And that is projected to rise by a CAGR of 5% from 2019 to 2029. The market is expecting a relatively high demand for electric golf carts compared to its gas-driven counterpart. These are due to factors such as eco-friendliness, less sound pollution, and zero carbon emission.

The growth is also attributed to the increasing growth in the hospitality and tourism industry. Along with the increasing demand for customized golf carts like personalized golf carts and speed modified golf carts. The growth is seen in North America, Europe, and Asia in particular.

Another reason for this is solar-powered golf carts. These carts are expected to gain significant traction during the aforementioned period and are also due to the rising demand of users of vehicles that uses renewable energy instead.

In short, being environmentally friendly is the biggest aspect of why golf carts are and will be of high demand. The growth prospect would be significantly high in North America for obvious reasons. Especially the personalized ones which are in demand on military bases, and college campuses.

Indeed economic and environmental benefits of the newer innovations for golf carts, and with the additional use of alternative fuels, plus lower operational costs, are huge factors for its market growth.

Particularly the golf cart industry in countries such as Mexico, China, India, and Brazil is also expected to grow significantly. This is in part due to the growth in the urban population, which has helped the boost in hi-tech culture. You’d see golf carts utilized in markets or amusement parks more than before.

Some factors that affect and shapes the golf cart market are as follows:

  • Golf carts are being adapted for promotional activities
  • Golf carts application scopes increases in other vertical activities
  • Golf cart rental services are rapidly growing

How much is a Golf cart: The rise and fall of its price

Now on to the main topic of this discussion, how much is a golf cart?

Nowadays, golf carts will go for $8,000 or $9,000. Although there are golf carts that are priced for as low as $2500 to around $3000. Luxury golf carts can cost you about $20000. Are you looking for a personalized cart? Commercial cart? Or maybe you’re okay with a second-hand cart.

These factors affect the price you’re going to have to pay to acquire one. The brand should also matter.

Top Golf Cart Brands

EZGO

Founded way back 1954 the company has pushed its limits when it comes to innovating the golf cart. It’s known for its hill climbing golf carts and for high-efficiency vehicles.

American Custom Golf Cars (ACG)

Did we mention that personalized and customized golf carts are going to help push the industry forwards? Well, this company that started in the 90s are well-known for their unique golf carts.

Star EV

This brand is relatively younger being only founded in 2003. They are known for quipping their golf carts with AC motors for it to stand the test of time. Also, their carts are classically designed.

Polaris GEM

It was also founded way back in 1954 but as a mechanical shop. The company had designed a lot of Powersports vehicles. They are quite innovative and their expertise lies in off-road machines.

Club Car

A worthy investment is what this company boasts. Been around for over 60 years and that’s no simple matter. They design personal and commercial utility vehicles and the company’s credential is top-notch.

Yamaha

Who hasn’t heard about this brand? Considered one of the top golf cart manufacturers in the world. A pioneer not just in this category but in all vehicle types. You can’t go wrong with this brand.

Final Thoughts

Golf carts are convenient, easy to use, and easy to go around with because of their size. Little as it is its share on the market has had a steady growth because of aspects that make it quite adaptable. Being environment friendly is a huge boost in its relevancy.

If it means less pollution then communities should look into adapting to using golf carts in the next few years. Countries should study their efficiencies and seriously look into utilizing it for it’s for the good of everyone. I hope you get to understand How much is a Golf Cart if you are planning to have your own.

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