Golf Cart Battery Market Size - By Battery Type (Lithium-ion Batteries, Lead-acid Batteries), By Battery Voltage (6-Volt, 8-Volt, 12-Volt), By End-user (Golf Courses, Commercial Services), Sales Channel & Forecast 2023 - 2032

Golf Cart Battery Market Size

Golf Cart Battery Market size was valued at USD 143.6 million in 2022 and is anticipated to grow at over 4% CAGR from 2023 to 2032 owing to the growing golfing industry along with the increasing number of golf courses across the world.
 

The increased reliance on golf carts for carrying equipment and transporting players is fueling the need for dependable & high-performance batteries in these carts. The adoption of electric vehicles due to the increasing emphasis on environmental sustainability is resulting in the rising demand for electric golf carts. These golf carts need powerful, long-lasting batteries to operate, thereby bolstering the product demand. In recent years, the global market for electric automobiles and the growing acceptance of electric cart buggies as well as rapid urbanization and rising disposable income levels have contributed to a significant increase in the golf cart battery market demand.
 

Golf cart batteries, especially high-performance and long-lasting options such as deep-cycle batteries, have a higher initial cost compared to traditional lead-acid batteries. The cost of acquiring and installing these batteries can be a significant deterrent for certain customers, particularly in price-sensitive markets. Furthermore, golf cart batteries have a finite lifespan and require regular maintenance to ensure optimal performance. Over time, the battery capacity may diminish, resulting in a reduced range and operating time. Maintenance including proper charging, watering & periodic replacement adds to the overall cost and effort involved in managing golf cart batteries.
 

COVID-19 Impact

During the pandemic, manufacturers in the golf cart battery market encountered unexpected challenges such as production delays brought on by lockdown restrictions, worker shortages, supply chain delays, nationwide lockdowns, and changes in raw material prices. The pandemic also restricted business at airports, train stations, golf courses, and tourist destinations. The COVID-19 outbreak forced governments around the world and golf course owners to postpone their final investment decisions for golf cart battery, thereby hampering industry growth.
 

Golf Cart Battery Market Trends

The golf cart battery business is observing a rise in the use of battery management systems (BMS). By balancing cell voltages, ensuring efficient charging, and providing protection from overcharging & over-discharging, BMS technology monitors and optimizes battery performance. The lifespan and overall performance of golf cart batteries are improved by the incorporation of cutting-edge BMS solutions. As environmental sustainability is a significant trend in the industry, the batteries that offer minimal environmental impact and recyclability are in higher demand. To meet the sustainability objectives of customers and regulatory requirements, battery manufacturers are putting effort into creating eco-friendly battery technologies.
 

Golf Cart Battery Market Analysis

The lithium-ion batteries segment crossed around USD 85 million of the golf cart battery market revenue in 2022 and is expected to grow significantly by 2032. They possess a higher energy density, allowing for longer operating times and an increased driving range for golf carts. This improved performance is highly desirable among golf cart users seeking extended playtime and improved mobility. These batteries have a longer lifespan compared to lead-acid batteries and can endure a higher number of charge cycles before experiencing significant degradation. This factor reduces the frequency of battery replacements and overall maintenance costs for golf cart owners & operators, thereby driving segment growth.
 

The 6-volt sector crossed a valuation of USD 53 million in 2022. The 6-volt battery voltage segment caters specifically to this requirement, ensuring compatibility and seamless integration with golf cart electrical systems. These batteries ensure the optimum performance of golf carts, delivering the necessary torque and power for smooth operation on the golf course. Thus, golf cart owners and operators prefer 6-volt batteries as they are specifically designed to meet the power demands of golf cart applications.
 

North America golf cart battery market captured over 38% of the global share in 2022. The region is a significant marketplace for golf cart batteries due to the presence of a large population, the abundance of golf courses, and the presence of golf-centric communities. The wide use of golf carts in various applications and the popularity of golf as a sport are creating a sizable demand for golf cart batteries in North America. The growing use of electric golf carts as a greener substitute for conventional gas-powered carts is propelling the regional product.
 

Golf Cart Battery Market Share

Some of the major players operating in the golf cart battery business landscape are

• Clarios
• Continental Battery Systems
• Crown Battery Manufacturing Co.
• Duracell Inc.
• East Penn Manufacturing Co., Inc.
• EnerSys
• Exide Technologies
• U.S. Battery Manufacturing Co.
• Trojan Battery Company LLC

These players are focused on strategic partnerships, new product launches, and commercialization efforts for market expansion. They are heavily investing in research to introduce innovative products and garner maximum market revenue.
 

Golf Cart Battery Industry News:

• 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.

 
This golf cart battery market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:

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Market, By Battery Type

• Lithium-ion battery
• Lead-acid battery

Market, By Battery Voltage

• 6-volt
• 8-volt
• 12-volt
• Others

Market, By End-user

• Golf courses
• Commercial services

Market, By Sales Channel

• Original Equipment Manufacturer (OEM)
• Aftermarket

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia and New Zealand
  • South Korea 
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa