by Golf carts, also known as golf buggies, are small vehicles used to transport golfers and their equipment around a golf course. They provide convenience to players as they can reach holes without walking long distances between them. The growing number of golf courses and rising enthusiasm for the sport among people in India have increased the adoption of golf carts in the country. They offer improved mobility while playing golf and help in completing rounds faster.
The global India Golf Cart Market is estimated to be valued at US$ 25.66 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The increased adoption of golf carts among golf courses is one of the major trends fueling the growth of India golf cart market. With golf gaining popularity in India, several new golf courses are being opened. Golf carts help golf courses in providing convenient services to players and enhance their golfing experience. They also enable courses to organize large tournaments and events efficiently. This growing demand from golf courses for electric and gasoline golf carts to improve operations is driving the market in India. Advanced lithium-ion battery powered electric golf carts are also gaining traction due to their eco-friendly nature and low maintenance compared to gasoline variants.
SWOT Analysis
Strength: The India Golf Cart market is observing high demand from golf courses and commercial facilities. Growing participation in golf tournaments is augmenting the sales of golf carts.
Weakness: Presence of local and unorganized players impacts the brand image and reliability of golf carts. High cost of golf carts limits their adoption.
Opportunity: Increasing investments by government and private parties in developing golf courses and sports infrastructure presents an opportunity for golf cart providers. Growing popularity of electric vehicles provides an avenue to introduce eco-friendly golf carts.
Threats: Restrictions imposed due to COVID-19 pandemic affected the tourism and sports industry which impacted the golf cart market. Rising prices of raw materials increases the production cost.
Key Takeaways
The India Golf Cart Market Demand is is expected to witness high growth on account of rising participation in golf activities and increasing number of golf courses in the country. The global India Golf Cart Market is estimated to be valued at US$ 25.66 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.
Regionally, southern states like Andhra Pradesh, Telangana and Karnataka are emerging as major markets for golf carts due to large number of golf courses.
Key players like Kogel Trailer GmbH & Co. KG, Wabash National Commercial Trailer Products and Randon Implementos have a prominent presence and offer a wide variety of golf carts including electric, gasoline and hybrid versions. Going forward, growth in tourism and investment in sports infrastructure are likely to boost the adoption of golf carts across commercial and recreational settings. Focus on introducing electric golf carts would aid in addressing sustainability concerns as well.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
