The global electric golf cart market is projected to grow from USD 2.84 billion in 2025 to USD 5.69 billion by 2034, expanding at a CAGR of 8.03%. The market growth is fueled by the increasing adoption of eco-friendly transportation solutions across golf courses, resorts, hotels, airports, universities, and gated communities.
Technological advancements, particularly in battery innovation, and strategic collaborations between manufacturers and composite brands are shaping the industry’s positive outlook. Research into solid-state batteries is also expected to open new avenues for market players over the coming decade.
Market Highlights
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North America dominated the market in 2025, while Asia-Pacific is expected to record the highest CAGR during the forecast period.
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Fleet golf carts led by vehicle type, while utility golf carts are projected to grow fastest.
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Lead-acid batteries held the largest share, while lithium-ion batteries are anticipated to grow rapidly.
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Golf courses dominated the application segment, while resorts & hotels are expected to expand quickly.
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Commercial end-users led the industry, while the personal use segment is projected to rise significantly.
Key Market Trends in 2025
Partnerships
Golf cart manufacturers are partnering with battery companies to enhance battery efficiency and extend vehicle lifespan.
Joint Ventures
Global players are collaborating with automotive and luxury brands to design innovative, high-performance electric golf carts.
Product Launches
New long-range golf carts tailored for residential and commercial use are entering the market, targeting eco-conscious consumers.
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Segmental Insights
By Vehicle Type
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Fleet Golf Carts: Dominated in 2025 due to wide usage in golf courses, universities, and gated communities.
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Utility Golf Carts: Expected to witness the fastest growth as they gain adoption in warehouses, resorts, and municipal facilities.
By Battery Type
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Lead-Acid Batteries: Popular for affordability, availability, and ease of maintenance.
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Lithium-Ion Batteries: Growing quickly due to lightweight design, longer life, and faster charging.
By Application
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Golf Courses: Remain the largest consumer segment, driven by demand for sustainable fleet solutions.
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Resorts & Hotels: Anticipated to grow rapidly as properties enhance guest experiences with eco-friendly transport.
By Drive Type
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2-Seater Golf Carts: Widely used in golf courses and compact commercial environments.
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6-Seater and Above: Increasingly popular in resorts, airports, and campuses.
By Power Output
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5–10 kW: Balanced performance and efficiency, suitable for residential and community use.
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Above 10 kW: Growing adoption in industrial and large-scale resort applications.
By End User
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Commercial Sector: Largest consumer segment, including golf courses, airports, and universities.
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Personal Users: Fastest-growing segment, fueled by residential communities and recreational demand.
Regional Insights
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North America: Dominated in 2025, led by the U.S. with strong adoption across golf courses, resorts, and gated communities.
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Asia-Pacific: Poised for the fastest growth, driven by rising tourism, urban infrastructure, and EV incentives in China, India, and Southeast Asia.
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Europe: Gradually adopting electric carts for sustainable mobility in golf clubs, resorts, and retirement villages.
Recent Industry Developments
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July 2025 – Kinetic Green and Tonino Lamborghini formed a joint venture to manufacture electric golf carts, combining Italian design with Indian manufacturing.
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June 2025 – Yamaha Motor launched a new range of five-seater electric golf carts in Japan.
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April 2025 – Club Car introduced a 6-seater electric cart with enhanced comfort and safety features.
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August 2025 – E-Z-GO unveiled the enhanced RXV Golf Car featuring Samsung SDI lithium battery technology.
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Top Companies in the Electric Golf Cart Market
Club Car
About: A leading U.S.-based golf cart manufacturer, part of Platinum Equity.
Products: Electric and gas-powered golf carts, fleet management systems.
Market Cap: Estimated at USD 1.2 billion (private ownership valuation).
Yamaha Golf-Car Company
About: A division of Yamaha Motor Co., Ltd. specializing in golf carts and utility vehicles.
Products: Electric golf carts, gasoline-powered carts, utility vehicles.
Market Cap: Yamaha Motor Co., Ltd. valued at approx. USD 15 billion (2025).
E-Z-GO (Textron Inc.)
About: U.S.-based manufacturer under Textron, renowned for advanced fleet and personal carts.
Products: RXV, TXT, lithium-powered golf carts.
Market Cap: Textron Inc. approx. USD 18 billion (2025).
Polaris Industries Inc.
About: A global leader in powersports and off-road vehicles.
Products: GEM electric vehicles, off-road carts, utility EVs.
Market Cap: Approx. USD 8 billion (2025).
Garia Inc.
About: A Danish luxury golf cart manufacturer.
Products: Luxury electric carts, custom-designed high-performance carts.
Market Cap: Privately owned, estimated valuation in millions.
Columbia Vehicle Group Inc.
About: Specializes in electric commercial utility and industrial vehicles.
Products: ParCar golf carts, utility transport EVs.
Market Cap: Private company.
STAR EV (JH Global Services, Inc.)
About: U.S.-based electric vehicle company.
Products: Golf carts, electric shuttles, utility EVs.
Market Cap: Privately held.
Bintelli Electric Vehicles
About: U.S.-based company known for affordable golf carts and electric shuttles.
Products: Street-legal golf carts, customizable EVs.
Market Cap: Private ownership.
ICON Electric Vehicles
About: U.S. manufacturer offering high-value street-legal golf carts.
Products: ICON i20, i40, i60, and utility models.
Market Cap: Privately held.
Kinetic Green (Joint Venture with Tonino Lamborghini)
About: India-based EV company led by Dr. Sulajja Firodia Motwani.
Products: Electric golf carts, e-rickshaws, three-wheelers.
Market Cap: Privately owned, emerging EV innovator.
Frequently Asked Questions
Q1. What is the projected size of the electric golf cart market by 2034
The market is expected to reach USD 5.69 billion by 2034.
Q2. Which region will grow the fastest in the electric golf cart market
Asia-Pacific is projected to record the highest CAGR due to tourism growth and EV adoption policies.
Q3. Which battery type dominates the electric golf cart industry
Lead-acid batteries currently hold the largest share, though lithium-ion batteries are growing fastest.
Q4. What are the main applications of electric golf carts beyond golf courses
They are widely used in resorts, hotels, airports, universities, gated communities, and industrial facilities.
Q5. Who are the leading players in the electric golf cart market
Major companies include Club Car, Yamaha, E-Z-GO (Textron), Polaris, Garia, STAR EV, and Kinetic Green.
Source : https://www.towardsautomotive.com/insights/electric-golf-cart-market-sizing
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