Golf Cart Battery Market Trends Analysis m

sudeep
sudeep 11/15/2023 5:02:18 PM

Golf Cart Battery Market Trends,
Analysis & Forecast, 2032


Golf
Cart Battery Market

is projected to cross USD 217.6 Million by 2032. The surging popularity of
electric golf carts due to their efficient and durable battery
requirements   to power their operations
will drive the product demand. For instance, in November 2022, Indian EV
battery maker Neuro Energy introduced Adler, a new electric golf cart range,
powered by its lithium-ion batteries comprising GPRS tracker and remote
assistance. Of late, electric golf carts are also equipped with medical
equipment and firefighting gear to offer rapid response and assistance in large
facilities, including stadiums and airports. The rising number of government
initiatives for promoting the adoption of electric vehicles driven by the
higher focus on environmental sustainability will also positively impact the
market growth.

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The 12-volt battery voltage segment recorded
over 15% of the golf cart battery industry revenue share in 2022 owing to their
simplicity leading to lower manufacturing and maintenance costs. With
long-standing popularity in the automotive and industrial sectors, 12-volt
battery systems are witnessing widespread usage in golf carts to find and
replace batteries and components. The ease of availability, cost-effectiveness
and higher manufacturing rate offered by 12-volt lead-acid batteries will also
drive the segment growth.

Demand for golf cart
lead-acid batteries may reach over USD 94 million in revenue by the end of 2032
on account of the continuous demand for replacements. Lead-acid battery
technology renders enhanced reliability and durability, adding to the longevity
of golf cart batteries. On account of their inexpensiveness to manufacture and
purchase, these batteries are practical choice for golf cart manufacturers and
consumers. The minimal efforts incurred during basic maintenance tasks, such as
cleaning terminals, checking water levels, and recharging will also influence
the product adoption.

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Europe golf cart battery market size is
estimated to cross USD 59.5 million by the end of 2032. The growth can be
attributed to the presence of strong golfing culture in the U.K., Spain,
Germany, France, and Sweden along with the consistent demand for golf cart
batteries in these regions.  The rising
support for sustainability and environmental responsibility in European
countries has led to the rising shift towards environmentally friendly
battery-powered electric golf carts, such as lithium-ion and advanced lead-acid
batteries. The influx of advanced charging infrastructure will also boost the
regional market growth.

Some of the leading golf cart battery industry
players are 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.
These firms are working on new product developments to meet the rising consumer
demands. For instance, Trojan Battery Company, in January 2022, released its
new lithium-ion golf battery, the Trojan GC2 48V to render fast-charging, durable,
powerful, and maintenance-free benefits to golf cars owners.

Partial chapters of report table of contents
(TOC):

Chapter
2   Executive Summary

2.1    Golf cart
battery market 360º synopsis, 2018 - 2032

2.2    Business
trends

2.2.1    Total
Addressable Market (TAM), 2023-2032

2.3    Regional
trends

2.4    Battery type
trends

2.5    Battery
voltage trends

2.6    End-user
trends

2.7    Sales
channel trends

Chapter 3   Golf Cart Battery Market Industry
Insights

3.1    Impact of
COVID-19

3.2    Impact of
the Russia-Ukraine war

3.3    Industry
ecosystem analysis

3.4    Vendor
matrix

3.5    Profit
margin analysis

3.6    Technology
& innovation landscape

3.7    Patent
analysis

3.8    Key news and
initiatives

3.8.1   
Partnership/Collaboration

3.8.2   
Merger/Acquisition

3.8.3    Investment

3.8.4    Battery
type launch & innovation

3.9    Regulatory
landscape

3.10    Impact
forces

3.10.1    Growth
drivers

3.10.1.1   
Increasing demand for golf carts

3.10.1.2   
Government support for electric vehicles

3.10.1.3   
Technological advancements in battery technology

3.10.1.4   
Increasing adoption of lithium-ion batteries

3.10.1.5    Growing
consumer interest in golf as a leisure activity

3.10.2    Industry
pitfalls & challenges

3.10.2.1    High
initial cost of golf cart batteries

3.10.2.2    Limited
charging infrastructure

3.11    Growth
potential analysis

3.12    Porter’s
analysis

3.13    PESTEL
analysis

 

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sudeep
Written by

sudeep

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