Golf Cart Battery Market Scope
A golf cart is small vehicle used to carry golf clubs, golfers and their golf clubs around a golf course. There are two types of golf cart including electric golf cart and petrol based golf cart. The battery used in an electric golf cart is called a golf cart battery. Increasing construction projects such as constructing a smart housing project having golf ground are fueling the market. Also, growing popularity for the golf sport is supplementing the growth of the market. Additionally, Growing use of golf carts for internal transportation in various industries and new construction of resorts/golf resorts and golf courses is boosting the overall growth of the market. However, the presence of without battery golf cart and high cost associated with golf cart battery is considered as limiting factors for the market.
According to AMA, the Global Golf Cart Battery market is expected to see growth rate of 5.23%The Vendors having a strong hold in the market are Universal Power Group, Trojan Battery Company, EXIDE INDUSTRIES LIMITED, Lifeline, Amstron. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Golf Cart Battery market throughout the predicted period.
Universal Power Group (United States), Trojan Battery Company (United States), EXIDE INDUSTRIES LIMITED (India), Lifeline (United States), Amstron (United States), Microtex Energy Private Limited (India), Johnson Controls, Inc. (United States), ACDelco (United States), Crown Battery (United States) and Harris Battery (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are RELiON Batteries (United States) and East Penn Manufacturing (United States).
Segmentation Overview
The study have segmented the market of Global Golf Cart Battery market by Type (Lead-acid Batteries and Li-ion Batteries) and Region with country level break-up.
On the basis of geography, the market of Golf Cart Battery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Growing Use of Golf Carts for Internal Transportation in Various Industries
Market Growth Drivers:
Increasing Hi-tech & Smart Housing Projects with Golf Ground and Increasing Popularity of Golf Sport across the Western Countries
Challenges:
Intense Competition among Established Players and High Cost associated with Golf Cart Battery
Restraints:
High Initial Investment for Manufacturing Golf Cart Battery and Presence of Petroleum Golf Cart
Opportunities:
New Construction of Resorts/Golf Resorts and Golf Courses and Continuous New Launches of New Electric Golf Cart by Key Players
Market Leaders and their Expansionary Development Strategies
In December 2022, India's Exide Industries is considering a proposal to merge its two lithium business subsidiaries into one entity. Exide's Board of Directors has approved the merger of Exide Leclanche Energy Private Limited with Exide Energy Solutions Limited. Exide Leclanche, the 'Nexcharge' brand, started as the company's initial joint venture with Swiss battery company Leclanché but is now a wholly owned subsidiary of Exide.
On January 2017, Samsung SDI Clinches has announced its strategical partnership with TSV (Textron Specialized Vehicles Inc.). The main of the partnership is to supply Lithium-ion Battery for E-Z-GO, a Global Golf Car Brand. This new partnership will create new opportunities for the company in the coming years.
“The Mercury-Containing and Rechargeable Battery Management Act of 1996 (“Battery Act”) has made some important strides in protecting the environment and human health. Through this law, the EPA and state Department of Environmental Quality agencies can reduce the number of hazardous substances released into the environment from used batteries.”
Key Target Audience
Golf Cart Battery Manufacturers, Raw Material Suppliers, Distributors and Suppliers, Government Association and Agencies, Potential Investors and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.