The global golf trolley market size is projected to reach USD 195.4 million by 2025, according to a new report published by Million Insights, growing with a CAGR of 3.7% from 2019 to 2025. The rising popularity of golf among the youth population is surging the demand for this product across the world. Moreover, the constant innovation by the producers like RolleyGolf Experience and Motocaddy is predicted to drive the growth of the market in the upcoming years.
The electric product is expected to grow at the fastest rate over the forecast period. The products are best suited for players suffering from health problems owing to their lightweight and minimal physical efforts required.
Companies have been emphasizing on introducing advanced features to the electronic products to acquire a larger customer base. For example, Motocaddy, in March 2019, launched its newest S1 model powered golf trolley which can be remote-controlled. Additional features incorporated in the model include battery meter, compact-folding, speed indicator, and LCD screen.
The non-commercial segment held a market share of over 60% in 2018. The growth is attributed to the increasing number of public clubs that are less expensive as compared to private clubs.
North America held the dominant position with a revenue share of 50% in 2018. The region consists of the highest number of courses that are above 15,000 in numbers. Moreover, the inclination of the Americans for investing in recreational activities coupled with a higher purchasing power has led to the growth of the golf trolleys market in this region.
The key players include Motocaddy; Cart Tek Golf Carts; Bat-Caddy; SUN MOUNTAIN SPORTS; Golf Tech Golfartikelvertriebs GmbH; THE PROACTIVE SPORTS GROUP; Adept Golf; SPITZER Products Corp.; Bag Boy Company; and Axglo International Inc.
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Further key findings from the report suggest:
• Based on product, the electric segment accounted for the largest share of more than 65.0% in 2018.
• The online channel is anticipated to grow at a CAGR of 4.2% from 2019 to 2025.
• By application, the non-commercial segment accounted for a share of over 60.0% in 2018.
• Asia Pacific is predicted to register a CAGR of 4.9% over the forecast period.
• North America acquired the largest share above 50% in 2018.
Million Insights has segmented the global golf trolley market on the basis of product, application, distribution channel, and region:
Golf Trolley Product Outlook (Revenue, USD Million, 2015 - 2025)
Golf Trolley Application Outlook (Revenue, USD Million, 2015 - 2025)
Golf Trolley Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Golf Trolley Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa