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Used Golf Cart Market Size

Report ID: GMI6037
Published Date: Jun 2023
Report Format: PDF

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Used Golf Cart Market Size

Used Golf Cart Market size was valued at USD 845 million in 2022 and is anticipated to grow at 6% CAGR from 2023 to 2032. The proliferating tourism industry across Latin America and the MEA is boosting the product demand. The rising number of tourists is propelling the demand for golf carts to accommodate consumer needs. Used golf carts are also gaining traction as a transportation option in the tourism industry, providing affordable options for individuals, businesses, and even other golf courses seeking additional carts.

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The emphasis on sustainability and reducing carbon footprints has also led to a rising interest in electric golf carts. Used electric golf carts are in high demand as they provide a greener alternative to gas-powered models. High maintenance & service costs associated with the product can hamper industry growth worldwide.

Used Golf Cart Market Report Attributes
Report Attribute	Details
Base Year:	2022
Used Golf Cart Market Size in 2022:	USD 845 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	6%
2032 Value Projection:	USD 1.5 Billion
Historical Data for:	2018 – 2022
No. of Pages:	200
Tables, Charts & Figures:	295
Segments covered:	Fuel, Application, Seating Capacity
Growth Drivers:	Cost benefits associated with used golf carts Positive outlook for tourism activities in Latin America and the MEA region Rising investments in recreational activities Growing demand for customized and modified golf carts Cost benefits associated with used golf carts
Pitfalls & Challenges:	High maintenance & service costs Increasing safety & environmental concerns

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While used golf carts may offer a lower initial purchase price compared to new ones, buyers need to consider the ongoing maintenance & servicing expenses associated with a used vehicle. Golf carts typically use batteries for power and the battery lifespan can vary depending on the usage & maintenance. Expensive replacements are also required in the event of used golf cart batteries approaching the end of their life cycle. The prospect of having to invest in a new set of batteries can discourage buyers and limit used golf cart market demand.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of used golf cart was worth USD 845 million in 2022 and is projected to witness over 6% CAGR during 2023 to 2032 driven by the proliferating tourism industry across Latin America and the MEA region.

Used golf cart industry share from the personal use application segment is anticipated to observe 7% growth rate from 2023-2032 owing to its rising affordability.

North America held more than 60% share of the used golf cart industry in 2022 and is poised to attain over 6% gain between 2023 and 2032 attributed to the strong presence of golf courses and resorts.

Golfbuggy, Player Golf Car Inc., Club Car Inc., Winters Recreation, ATV Traders, Discovery Golf Cars, Cart Gone Wild, Ritchie Bros, Jeffrey Allen, Inc., Golf Cars of Beaumont, Golf Cart Resource, Harris Golf Cars, Carolina Golf Cars, and CCE GOLF CARS are some top industry players.