Top 3 Emerging Trends Impacting the Global Golf Cart Battery Market From 2017-2021: Technavio

Technavio has published a new report on the global golf cart battery market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio’s latest report on the global golf cart battery market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

The research study by Technavio on the global golf cart battery market for 2017-2021 provides a detailed industry analysis based on the battery type (lead-acid battery and Li-ion battery) and geography (the Americas, APAC, and EMEA).

 
The battery used in golf carts for motive propulsion is deep cycle lead-acid batteries, which is different from batteries used in trucks and cars. Deep cycle batteries have thicker plates that are built to discharge utilizing the maximum capacity deeply. Technavio analysts forecast the global golf cart battery market to grow at a CAGR of nearly 5% over the forecast period.
 

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The top three emerging trends driving the global golf cart battery market according to Technavio energy research analysts are:

  • Advances in golf cart technology
  • Rise in the use of golf carts for commuting
  • Increased investments by vendors

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Advances in golf cart technology

The golf course industry is witnessing a transformation, owing to the use of latest technologies. To enhance a golfer’s experience and attract new customers, golf clubs are integrating the latest models of golf carts, containing features like the global positioning system in their golf courses,” says Thanikachalam Chandrasekaran, a lead analyst at Technavio for energy storage research.

At present, manufacturers are coming up with advanced golf carts to meet consumer requirements. For instance, Yamaha Golf-Car launched its Drive AC golf cart, which has a 6.7 hp engine for climbing hills. This cart operates on alternate current, which delivers more voltage while drawing less current during charging. It reduces the total cost of ownership in the long run due to less power consumption on recharging.

Rise in the use of golf carts for commuting

Golf carts are being used for daily commutes, driven by the fluctuating fuel prices and stringent emission regulations imposed by governments worldwide. Golf carts are versatile and can be used outside the golf course for other purposes, owing to the added features, such as gates, heaters, stereos, and others.

Golf carts are low in cost, energy efficient, and are used for daily needs, such as shopping and recreational purposes. In South Carolina, the US, a golf cart can be driven up to a 4-mile radius from the starting location. States, such as Alaska and Texas, allow carts to be driven on roads, with speed limits up to 45 mph.

Increased investments by vendors

Vendors are expanding their current production capacities for lead-acid batteries. Samsung SDI has a contract with golf cart manufacturer, E-Z-GO to supply its cylindrical battery, which is based on the Li-ion battery technology. Similarly, GS Yuasa announced the expansion of its production capacity in Indonesia,” says Thanikachalam.

The expansion of renewable energy has also stimulated interest for storage battery systems to improve power supply stability, with the use of lead-acid batteries. With rapid development and production of renewables, the use and installation of the grid and off-grid connected energy storage systems will also increase. A battery-integrated storage system either reduces or eliminates voltage fluctuations and maintains grid stability. This has attracted the attention of several vendors.

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio’s report on the global golf cart battery market provides an analysis of the most important trends expected to impact the market outlook.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com