Global Golf Cart Battery Market is expected to foresee significant growth. North America to lead the growth!

A golf cart battery is a type of rechargeable lead-acid battery that is specifically designed to power electric golf carts. These batteries normally range from 6 to 8 V and could be added in a series or in parallel combination to produce higher voltage and electricity. They are made to offer the cart a dependable and durable power source and can operate for a longer duration. The global market for electric automobiles and their growing acceptance of electric cart buggies, along with rapid urbanization and rising individual disposable income, have contributed to a major increase in demand for golf cart batteries in recent years. Also, the stringent government regulation for emissions and increasing investment in battery manufacturing across the countries are expected to support the market growth during the forecast period.

The Golf Cart Battery Market is expected to grow at a steady rate of around 6% during the forecast period (2022-2028) owing to the increasing demand for the golf cart along with the increasing adoption of the electric canal board and lighting for camping among others. Major companies in the market are focusing to provide golf cart batteries with technologically advanced features along with new product launches, collaboration, and mergers & acquisitions. For instance, in June 2022, Club Car acquired Garia A/S a Denmark-based manufacturer of electric low-speed vehicles for utility, consumer, and golf markets which will support the golf cart segment business of the organization.

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Based on application, the market is segmented into the electric coach, golf cart, and other. The golf cart segment is expected to register significant growth during the forecast period attributed to its versatility and convenience in a variety of settings such as golf courses, gated communities, parks, and industrial complexes. Additionally, the increasing popularity of golf cart rentals for tourism and recreation, as well as the growing interest in electric vehicles, has also contributed to the increase in demand for golf carts battery.

On the basis of voltage, the market is categorized into 6V, 8V, and 12V. The 6V segment is expected to witness a significant CAGR during the forecast period owing to their increasing adoption for lighting applications to power club golf cart buggies. Additionally, the need for deep cycling and the 6V battery’s longer lifespan is expected to drive growth. The demand will also increase as a result of these batteries’ decreased weight, quick recharging, increased energy density, and inclusion into golf cart vehicles. Also, the li-ion batteries have discharging rates of 1C and 2C and the charging range could be 6.8V to 7.2V which provides an additional advantage over other batteries.

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For a better understanding of the market adoption of the golf cart battery industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America led the market in 2021. This is mainly due to the increasing popularity of golf carts in various applications, such as golf courses, gated communities, and industrial complexes along with the rising adoption of the golf cart battery system in a commercial and residential settings. Additionally, the growing adoption of electric golf carts in North America is also expected to drive market growth. Also, the growth in the market is driven by factors such as increasing urbanization, rising demand for electric vehicles, and the rising popularity of golf as a sport. Also, the increasing individual income and changing lifestyle coupled with the increasing investment and growing number of the tournament in the region are expected to support the market expansion. For instance, according to National Golf Foundation, the US has registered a growth of 36% in junior girls’ participation compared to the 15% in 2000.

Some of the major players operating in the market include Power Solutions, CROWN BATTERY, Clarios, RELiON Batteries, EXIDE INDUSTRIES LTD., ENERSYS, GS Yuasa International Ltd., Leoch International Technology Limited Inc, SAMSUNG SDI CO., LTD, and East Penn Manufacturing Company.

Global Golf Cart Battery Market Segmentation

Market Insight, by Battery

· Li-Ion Battery

· Lead Acid Battery

Market Insight, by Voltage

· 6 V

· 8 V

· 12 V

Market Insight, by Application

· Electric Coach

· Golf Cart

· Other

Market Insight, by Region

· North America

o US

o Canada

o Rest of North America

· Europe

o Germany

o United Kingdom

o France

o Italy

o Spain

o Rest of Europe

· Asia-Pacific

o China

o Japan

o India

o Rest of Asia-Pacific

· Rest of the World

Top Company Profiles

· Power Solutions

· CROWN BATTERY

· Clarios

· RELiON Batteries

· EXIDE INDUSTRIES LTD.

· ENERSYS

· GS Yuasa International Ltd.

· Leoch International Technology Limited Inc

· SAMSUNG SDI CO., LTD

· East Penn Manufacturing Company