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Golf Cart Battery Market Trends

Report ID: GMI6106
Published Date: Jun 2023
Report Format: PDF

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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.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of golf cart battery reached USD 143.6 million in 2022 and is expected to register 4% CAGR during 2023 to 2032 owing to the fast-growing golfing sector coupled with the increasing number of golf courses globally.

Golf cart battery industry size from the lithium-ion battery type segment generated USD 85 million in 2022 and is set to expand significantly through 2032 due to the advantages, such as superior performance compared to traditional lead-acid batteries.

North America held more than 38% of the industry share in 2022 and is estimated to expand at steady pace through 2032 attributed to the abundance of golf courses and the presence of golf-centric communities.

Few leading companies operating in the industry scenario include Clarios, Continental Battery Systems, Crown Battery Manufacturing Co., Duracell Inc., East Penn Manufacturing Co., Inc., EnerSys, Exide Technologies, U.S. Battery Manufacturing Co., and Trojan Battery Company LLC.