Golf Cart Battery Market Expected to Reach $216.5 Million by 2031, According to AMR

Allied Market Research

Rapid urbanization and rising popularity of lithium-ion batteries, motor homes, golf carts, and electric carts are driving the growth of the global golf cart battery market. Based on rated voltage, the 6V segment contributed the major share in 2021. By region, on the other hand, Asia-Pacific would remain lucrative by 2031.

Portland, OR, Sept. 09, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the golf cart battery market was estimated to reach $122.8 million in 2021 and is projected to reach $216.5 million by 2031, registering a CAGR of 5.9% from 2022 to 2031. The report provides a detailed analysis of the major pockets of investment, winning strategies, drivers and opportunities, market size. & estimates, the competitive landscape and changing market trends. Market research is a useful source of information for early adopters, new entrants, investors and shareholders in developing strategies for the future and strengthening their position in the market.

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Report coverage and details:

Report cover

Details

Forecast period

2022–2031

Year of reference

2021

Market size in 2021

$122.8 million

Market size in 203

$216.5 million

CAGR

5.9%

Number of pages in the report

238

Segments Covered

Rated voltage, type, application and region.

Drivers

Rapid urbanization

The growing popularity of lithium-ion batteries, motor homes, golf carts and electric carts

Opportunities

Growing deployment of advanced batteries and their environmentally friendly nature

Covid-19 scenario-

  • Manufacturing companies across the globe have faced supply chain and demand crunch due to labor shortages, which has negatively impacted the global golf cart battery market .

  • In addition, the halt in the construction of new electric utility infrastructure, renewable power plants, electric vehicles and other power plants has further aggravated the market situation. However, the market has already started to get back on track.

The global golf cart battery market is analyzed based on voltage rating, type, application, and region. The report contains an exhaustive analysis of the segments and their sub-segments using tabular and graphical representation. Investors and market participants can benefit from the breakdown and devise schemes based on the most revenue-generating and fastest-growing segments shown in the report.

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Based on rated voltage, the 6V segment contributed around two-fifths of the global golf cart battery market revenue in 2021 and is expected to dominate by 2031. The same segment would also exhibit the fastest CAGR of 6.3% throughout the forecast period.

By type, the lithium segment held more than two-fifths of the total market revenue in 2021 and is expected to dominate by 2031. The same segment would also show the fastest CAGR of 6.2% throughout the forecast period. .

Based on the application, the golf course segment accounts for almost two-fifths of the total market revenue in 2021 and is expected to dominate by 2031. The same segment would also exhibit the fastest CAGR of 6.5% while throughout the forecast period.

Based on the region, the market across North America generated nearly two-fifths of the global market revenue in 2021 and is expected to retain the lion’s share by 2031. The Asia-Pacific region, simultaneously, would manifest the CAGR the fastest of 6.4% during the forecast period. Other regions studied in the report include LAMEA and Europe.

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Key market players analyzed in the Global Golf Cart Battery Market report are Clarios Crown Battery Manufacturing Co., Enersys, Exide Industries Ltd., GS Yuasa Corp., Samsung SDI Co. Ltd., C&D Technologies Inc. , ReliON Batteries, Leoch International. Technology Ltd. and East Penn Manufacturing Co. Inc.

These market players have adopted several strategies including partnership, expansion, collaboration, joint ventures and others to showcase their prowess in the golf cart battery industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments of key players.

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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. Pawan Kumar, CEO of Allied Market Research is essential to inspire and encourage everyone associated with the business to maintain high quality data and help customers in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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