Used Golf Cart Market Research Report: By Cart Type (Two-Seater, Four-Seater, Six-Seater, Eight-Seater), By Power Source (Electric, Gasoline), By Usage (Private, Commercial (Golf Courses, Resorts)), By Condition (Excellent, Good, Fair, Poor), By Accessories (Light Kits, GPS Systems, Custom Seats, Lift Kits, Windshields) and By Regional (North America, Europe, South America, Asia-Pacific, Middle East and Africa) - Forecast to 2032

Used Golf Cart Market Overview

As per MRFR analysis, the Used Golf Cart Market Size was estimated at 1.56 (USD Billion) in 2022. The Used Golf Cart Market Industry is expected to grow from 1.63(USD Billion) in 2023 to 2.5 (USD Billion) by 2032. The Used Golf Cart Market CAGR (growth rate) is expected to be around 4.85% during the forecast period (2024 - 2032).

Key Used Golf Cart Market Trends Highlighted

The second-hand golf cart market is rising due to a number of key drivers. One significant factor is the surging popularity of golf as an entertainment activity, particularly among old people and those desiring outdoor fun. This increased demand for golf carts has filtered down into the pre-owned market, where older models and gently used ones are sought after because they are cheap and practical.

Furthermore, the electric golf carts' environmental sustainability has been a catalyst for their adoption. The eco-conscious ones prefer environmentally friendly alternatives such as electric golf carts that do not emit any fumes and are more silent in comparison to traditional gas-powered ones. Hence, there have been demands for greener options, which propelled growth in the used electric golf cart segment.

Current trends in the used golf cart market indicate that buyers have become more selective and price-sensitive. They opt for properly maintained carts with good condition leading to premiums on low mileages as well as solid service histories. This development has forced many dealers who sell second-hand gold carts to expand their reconditioning services by providing full inspections and refurbishments aimed at boosting the performance of used cars while also increasing their lifespans.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Used Golf Cart Market Drivers

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  Rising Popularity of Golf as a Recreational Activity

  
  

Golf has gained immense popularity as a recreational activity, particularly among older adults and retirees. This growing enthusiasm for golf has led to an increased demand for used golf carts, as they provide a convenient and affordable way to navigate the golf course. Used golf carts offer a cost-effective alternative to purchasing new ones, making them an attractive option for budget-conscious individuals and families. The rising popularity of golf as a recreational activity is expected to continue driving the growth of the Used Golf Cart Market in the coming years.

Expansion of Golf Courses and Resorts

The expansion of golf courses and resorts across the globe has contributed to the growth of the used golf cart market. New golf courses and resorts often require a substantial number of golf carts to cater to the needs of golfers. Used golf carts provide a cost-effective solution for golf course owners and operators, allowing them to acquire a fleet of golf carts without incurring the high costs associated with purchasing new ones. The growth of the golf industry, with the development of new golf courses and resorts, is expected to continue driving the demand for used golf carts.

Technological Advancements and Innovation

Technological advancements and innovation in the golf cart industry have also played a role in the growth of the used golf cart market. Used golf carts have become more technologically advanced, offering features such as GPS navigation, Bluetooth connectivity, and improved battery life. These technological advancements enhance the golfing experience and make used golf carts more desirable to consumers. Additionally, the development of electric golf carts has contributed to the growth of the used golf cart market, as electric golf carts offer environmental benefits and lower operating costs compared to gasoline-powered golf carts.

Used Golf Cart Market Segment Insights:

Used Golf Cart Market Cart Type Insights

The Used Golf Cart Market segmentation by Cart Type comprises Two-Seater, Four-Seater, Six-Seater, and Eight-Seater. In 2023, the Two-Seater segment accounted for the largest revenue share, owing to its affordability, compact size, and ease of maneuverability. It is widely used by individuals and couples for recreational purposes on golf courses, parks, and residential communities. The Four-Seater segment is expected to witness significant growth over the forecast period, driven by increasing demand for larger golf carts for families and groups.Six-Seater and Eight-Seater segments are gaining popularity in commercial applications, such as transportation within resorts, hotels, and theme parks. The growing popularity of golf cart rental services is further fueling the growth of the Used Golf Cart Market. Market players are focusing on offering a wide range of used golf carts to meet the diverse needs of customers, including electric, gas, and diesel-powered models with various features and accessories. The increasing adoption of used golf carts for non-golf applications, such as utility vehicles and neighborhood electric vehicles, is creating new growth opportunities for the market.The Used Golf Cart Market is expected to continue its growth trajectory, driven by the rising popularity of golf as a recreational activity, increasing disposable income, and growing demand for affordable and eco-friendly transportation solutions.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Used Golf Cart Market Power Source Insights

The Used Golf Cart Market is segmented by Power Source into Electric and Gasoline. The Electric segment is expected to register a CAGR of 5.2% during the forecast period, while the Gasoline segment is expected to register a CAGR of 4.3%. Electric golf carts are becoming increasingly popular due to their environmental friendliness and lower operating costs. They are also quieter than gasoline golf carts, which can be an advantage in residential areas. Gasoline golf carts are still the more popular choice in some areas, however, due to their lower upfront cost and longer range.In 2023, the Electric segment accounted for 38% of the Used Golf Cart Market revenue, while the Gasoline segment accounted for 62%. By 2032, the Electric segment is expected to account for 45% of the market revenue, while the Gasoline segment is expected to account for 55%. The growth of the Electric segment is being driven by a number of factors, including the increasing popularity of electric vehicles in general, the rising cost of gasoline, and the growing awareness of environmental concerns. The Gasoline segment is expected to continue to grow but at a slower pace than the Electric segment.

Used Golf Cart Market Usage Insights

The Used Golf Cart Market is segmented based on usage into private and commercial (golf courses, resorts). The private segment is expected to account for a larger market share in 2024, owing to the increasing popularity of golf as a recreational activity and the rising disposable income of individuals. The commercial segment, on the other hand, is anticipated to grow at a faster CAGR during the forecast period, driven by the increasing number of golf courses and resorts around the world. The Used Golf Cart Market segmentation provides valuable data and insights to companies and organizations operating in the market, helping them to make informed decisions and plan their strategies to capture a larger market share.

Used Golf Cart Market Condition Insights

The condition segment of the Used Golf Cart Market is categorized into 'Excellent', 'Good', 'Fair', and 'Poor'. The 'Excellent' condition segment is anticipated to account for the highest revenue share in 2024 owing to the increasing demand for high-quality used golf carts that are in near-new condition. Customers prefer these carts as they offer better performance and durability, making them a more reliable choice compared to carts in other condition segments. The 'Good' condition segment is expected to follow closely behind, with a significant market share.These carts are well-maintained and in good working condition, making them suitable for budget-conscious buyers. The 'Fair' and 'Poor' condition segments are expected to have a smaller market share, primarily driven by lower prices and limited availability. However, these carts may require additional repairs or maintenance, which can impact their overall value and appeal.

Used Golf Cart Market Accessories Insights

The accessories segment of the Used Golf Cart Market is projected to register a CAGR of 5.2% through 2027, reaching a valuation of 2.1 billion USD by 2027. This growth is largely attributed to the increasing popularity of golf and the growing number of golf courses worldwide. Additionally, the rising disposable income of consumers is expected to drive demand for accessories that enhance the golf cart experience. Light kits are among the most popular accessories for used golf carts, as they allow users to operate their carts in low-light conditions.GPS systems are also becoming increasingly popular, as they provide users with accurate yardage and hole information. Custom seats are another popular accessory, as they can provide users with a more comfortable and personalized ride. Lift kits are also gaining popularity, as they allow users to increase the ground clearance of their carts, making them more suitable for off-road use. Windshields are another popular accessory, as they can protect users from the elements.

Used Golf Cart Market Regional Insights

The Used Golf Cart Market is segmented into several regions, including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa (MEA). Each region presents unique market dynamics and growth opportunities. North America dominates the Used Golf Cart Market, accounting for the largest market share. The region has a well-established golf industry, with a large number of golf courses and golf enthusiasts. The presence of major players in the region, such as Club Car and EZ-GO, further contributes to the market growth.Europe is another key region in the used golf cart market. The region has a strong golf culture, particularly in countries such as the United Kingdom, Germany, and France. The increasing popularity of golf tourism in Europe is driving the demand for used golf carts. The Asia-Pacific region is expected to witness significant growth in the used golf cart market over the forecast period. The region has a growing number of golf courses and golf enthusiasts, especially in countries such as China, India, and Japan. The increasing disposable income and rising popularity of golf as a recreational activity are contributing to the market growth.South America and MEA are relatively smaller markets for used golf carts, but they are expected to grow steadily over the forecast period. The growing number of golf courses and the increasing popularity of golf in these regions are driving the market growth.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Used Golf Cart Market Key Players And Competitive Insights:

Major players in the Used Golf Cart Market industry are continuously striving to gain a competitive edge by implementing various strategies. They are focusing on product innovation, expanding their distribution channels, and strengthening their brand reputation. Leading Used Golf Cart Market players are also actively involved in mergers and acquisitions to consolidate their market position. The Used Golf Cart Market is expected to witness significant growth in the coming years, driven by increasing demand from various sectors, including hospitality, tourism, and recreation.Club Car, a leading player in the Used Golf Cart Market, is renowned for its high-quality golf carts and exceptional customer service. The company offers a wide range of models to meet the diverse needs of its customers. Club Car's strong distribution network and its commitment to innovation have contributed to its success in the market. EZ-GO, another prominent player in the Used Golf Cart Market, is known for its durable and feature-rich golf carts. The company has a global presence and caters to a wide range of customers, from golf courses to private individuals. EZ-GO's focus on sustainability and its commitment to environmental responsibility have set it apart in the market.Yamaha Golf-Car Company is another major player in the Used Golf Cart Market, holding a significant market share. The company is renowned for its innovative golf carts and advanced technology. Yamaha's golf carts are known for their performance, reliability, and comfort. The company's strong brand reputation and its commitment to customer satisfaction have contributed to its success in the market.

Key Companies in the Used Golf Cart Market Include:

• EZGO


• Advent Electric Vehicles


• GEM


• Yamaha GolfCar Company


• Tomberlin Electric Vehicles


• Club Car


• Global Electric Motorcars


• HDK Motors


• Columbia Par Car


• Cushman


• Star EV


• Bad Boy Buggies


• Garia


• Textron Specialized Vehicles

Used Golf Cart Market Industry Developments

The Used Golf Cart Market is projected to reach USD 2.5 billion by 2032, exhibiting a CAGR of 4.85% during the forecast period (2024-2032). The rising popularity of golf as a recreational activity and increasing demand for affordable golf carts are key factors driving market growth.Recent news developments include the launch of new models by major manufacturers such as Club Car and Yamaha, as well as the entry of new players into the market. Additionally, the growing popularity of electric golf carts is expected to boost market growth in the coming years.

Used Golf Cart Market Segmentation Insights

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  Used Golf Cart Market Cart Type Outlook

  
  
  
  
  • Two-Seater
  
  
  • Four-Seater
  
  
  • Six-Seater
  
  
  • Eight-Seater
  
  
  
  

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  Used Golf Cart Market Power Source Outlook

  
  
  
  
  • Electric
  
  
  • Gasoline
  
  
  
  

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  Used Golf Cart Market Usage Outlook

  
  
  
  
  • Private
  
  
  • Commercial (Golf Courses, Resorts)
  
  
  
  

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  Used Golf Cart Market Condition Outlook

  
  
  
  
  • Excellent
  
  
  • Good
  
  
  • Fair
  
  
  • Poor
  
  
  
  

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  Used Golf Cart Market Accessories Outlook

  
  
  
  
  • Light Kits, GPS Systems, Custom Seats, Lift Kits, Windshields
  
  
  
  

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  Used Golf Cart Market Regional Outlook

  
  
  
  
  • North America
  
  
  • Europe
  
  
  • South America
  
  
  • Asia-Pacific
  
  
  • Middle East and Africa