Golf Cart and NEV Market Envisioned to Exceed USD 11.8 Billion by 2031
The global market for golf carts and Neighborhood Electric Vehicles (NEVs) reached an estimated value of USD 4.85 billion in 2023 and is projected to grow to USD 11.8 billion by 2031, registering a robust CAGR of 10.80%.
This market is witnessing steady growth, primarily driven by increasing environmental awareness, urbanization, and the growing demand for sustainable transportation options. Here's a comprehensive analysis of the Golf Cart and NEV market, including market dynamics, competitive landscape, key market segments, recent developments, opportunities, and challenges: