골프 카트용 배터리 시장 예측(-2030년) : 유형별, 정격 전압별, 판매 채널별, 용도별, 지역별 세계 분석

According to Stratistics MRC, the Global Golf Cart Battery Market is accounted for $142.97 million in 2023 and is expected to reach $243.44 million by 2030 growing at a CAGR of 7.9% during the forecast period. The golf cart battery market refers to the industry that produces and supplies batteries specifically designed for golf carts. These batteries are essential components of electric golf carts, providing the necessary power for propulsion. Manufacturers in this market focus on developing batteries with high energy density, longer lifespan, and quick charging capabilities to meet the performance requirements of golf carts.

According to the National Golf Foundation, there were more than 16,100 golf courses in the U.S. at the end of 2020.

Market Dynamics:

Driver:

Growing demand for electric golf carts

With a global shift towards sustainable and eco-friendly transportation solutions, electric golf carts have gained substantial popularity. Golf courses, resorts, and recreational facilities are increasingly opting for electric alternatives due to their lower environmental impact and operational cost savings. As awareness of environmental issues grows, consumers and businesses alike are inclined to adopt cleaner and greener mobility options, bolstering electric golf carts. This surge in demand directly translates into an increased need for efficient and reliable golf cart batteries.

Restraint:

High initial cost

While electric golf carts offer long-term operational cost savings through reduced fuel expenses and maintenance, the upfront investment required for purchasing the vehicle and its associated batteries can be substantial. This financial barrier presents a challenge, particularly for smaller golf courses, recreational facilities, and businesses looking to adopt electric alternatives. However, the initial cost includes not only the electric golf cart but also the specialized batteries designed for optimal performance, contributing to the overall expense.

Opportunity:

Advancements in battery technology

As the industry witnesses continuous innovations, battery manufacturers strive to enhance key performance metrics such as energy density, lifespan, and charging efficiency. Technological breakthroughs lead to the development of more powerful and efficient batteries, addressing the demand for high-performance energy storage solutions in electric golf carts. Furthermore, improved battery technology not only extends the range and operational capabilities of golf carts but also contributes to overall sustainability by fostering the adoption of electric vehicles.

Threat:

Lack of standardization

The absence of universally accepted specifications and standards for golf cart batteries creates challenges for both manufacturers and consumers. This lack of standardization can lead to compatibility issues, limiting the interchangeability of batteries and hindering seamless integration across various golf carts and brands. Consequently, consumers may face difficulties in finding suitable replacement batteries, and manufacturers encounter complexities in designing products that meet diverse specifications. The absence of standardized norms also impedes technological innovation and collaboration within the industry.

Covid-19 Impact:

The widespread global economic slowdown, lockdowns, and restrictions on mobility adversely impacted the production and distribution of golf carts and their batteries. The closure of golf courses, resorts, and recreational facilities during lockdowns led to a sharp decline in the demand for golf carts, affecting the entire supply chain, including battery manufacturers. Supply chain disruptions, labor shortages, and reduced consumer spending further compounded the challenges. However, uncertainties about the duration and severity of the pandemic created a cautious approach among businesses, affecting investment decisions.

The lead acid segment is expected to be the largest during the forecast period

Lead Acid segment is prophiesed to hold the largest share during the forecast period due to its well-established presence, reliability, and cost-effectiveness. Lead acid batteries have long been the traditional power source for golf carts, offering a proven and durable solution. Golf courses, resorts, and other recreational facilities often opt for lead acid batteries due to their relatively lower initial cost compared to alternative technologies. Moreover, these batteries are well-suited for the intermittent use characteristic of golf carts, providing ample power for short bursts of activity.

The golf course segment is expected to have the highest CAGR during the forecast period

Golf Course segment is expected to have the highest CAGR during the extrapolated period. Golf courses worldwide are increasingly transitioning from traditional gas-powered carts to electric alternatives, fueled by a growing emphasis on environmental sustainability and enhanced user experience. As golf courses embrace this eco-friendly shift, there is a heightened demand for high-performance golf cart batteries. These batteries must provide reliable and efficient power for extended periods to cover the expansive terrain of golf courses.

Region with largest share:

Due to the growing acceptance of golf cart battery systems in both commercial and residential settings, as well as the growing popularity of golf carts in a variety of applications, including industrial complexes, gated communities, and golf courses, North America is expected to hold the largest share during the projection period. The regional product is growing as more people choose electric golf carts as an environmentally friendly alternative to gas-powered golf carts. Moreover, the robust tourism and hospitality industry, along with the popularity of retirement communities utilizing golf carts, further fuels demand.

Region with highest CAGR:

Because of the increased need for batteries worldwide, rising fuel prices, environmental concerns, and the growing popularity of golf carts, the Asia-Pacific region is expected to rise at a substantial pace during the prolonged time frame. The demand for energy-efficient solutions and technological advancements have led to a growing trend towards sophisticated golf cart batteries. Furthermore, government regulations pertaining to golf cart batteries have become more stringent, particularly in developed nations, as a result of growing fuel costs and public and government concerns about the environment.

Key players in the market

Some of the key players in Golf Cart Battery market include Exide Industries Ltd, GS Yuasa Corp, East Penn Manufacturing Co. Inc, Leoch International Technology Ltd, Crown Battery Manufacturing Co, Samsung SDI Co. Ltd, ReLiON Batteries, Trojan Battery Company LLC, and Continental Battery Systems.

Key Developments:

In June 2023, Trojan Battery Company partnered with TheGolfCartFarm, an online seller of golf cart accessories and parts, allowing the latter to sell its line of lithium-ion batteries. The strategic partnership will improve the functionality and longevity of golf carts and utility vehicles by giving owners easy access to premium Lithium-ion batteries.

In March 2022, Samsung SDI and Stellantis N.V. announced they would create a joint venture and invest more than $2.5 billion in a production facility for EV cells and modules in Kokomo, Indiana, in the United States. Samsung SDI, Stellantis, and the state government of Kokomo, Indiana, USA, launched the investment announcement event and signed the joint venture agreement to build an EV battery facility.

Types Covered:

• Lead Acid
• Lithium
• Other Types

Voltage Ratings Covered:

• 6V
• 8V
• 12V

Sales Channels Covered:

• Aftermarket
• Original Equipment Manufacturer (OEM)
• Other Sales Channels

Applications Covered:

• Commercial Services
• Personal Services
• Golf Course
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 Emerging Markets
• 3.8 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Golf Cart Battery Market, By Type

• 5.1 Introduction
• 5.2 Lead Acid
• 5.3 Lithium
• 5.4 Other Types

6 Global Golf Cart Battery Market, By Voltage Rating

• 6.1 Introduction
• 6.2 6V
• 6.3 8V
• 6.4 12V

7 Global Golf Cart Battery Market, By Sales Channel

• 7.1 Introduction
• 7.2 Aftermarket
• 7.3 Original Equipment Manufacturer (OEM)
• 7.4 Other Sales Channels

8 Global Golf Cart Battery Market, By Application

• 8.1 Introduction
• 8.2 Commercial Services
• 8.3 Personal Services
• 8.4 Golf Course
• 8.5 Other Applications

9 Global Golf Cart Battery Market, By Geography

• 9.1 Introduction
• 9.2 North America
  • 9.2.1 US
  • 9.2.2 Canada
  • 9.2.3 Mexico
• 9.3 Europe
  • 9.3.1 Germany
  • 9.3.2 UK
  • 9.3.3 Italy
  • 9.3.4 France
  • 9.3.5 Spain
  • 9.3.6 Rest of Europe
• 9.4 Asia Pacific
  • 9.4.1 Japan
  • 9.4.2 China
  • 9.4.3 India
  • 9.4.4 Australia
  • 9.4.5 New Zealand
  • 9.4.6 South Korea
  • 9.4.7 Rest of Asia Pacific
• 9.5 South America
  • 9.5.1 Argentina
  • 9.5.2 Brazil
  • 9.5.3 Chile
  • 9.5.4 Rest of South America
• 9.6 Middle East & Africa
  • 9.6.1 Saudi Arabia
  • 9.6.2 UAE
  • 9.6.3 Qatar
  • 9.6.4 South Africa
  • 9.6.5 Rest of Middle East & Africa

10 Key Developments

• 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 10.2 Acquisitions & Mergers
• 10.3 New Product Launch
• 10.4 Expansions
• 10.5 Other Key Strategies

11 Company Profiling

• 11.1 Exide Industries Ltd
• 11.2 GS Yuasa Corp
• 11.3 East Penn Manufacturing Co. Inc
• 11.4 Leoch International Technology Ltd
• 11.5 Crown Battery Manufacturing Co
• 11.6 Samsung SDI Co. Ltd
• 11.7 ReLiON Batteries
• 11.8 Trojan Battery Company LLC
• 11.9 Continental Battery Systems