May 22, 2024
India Golf Cart Market
Ict

India Golf Cart Market is expected to driven by rising popularity of golf tourism

The India Golf Cart Market provides cost-effective transportation solutions for golf courses with its multi-functional design and durability. Golf carts are battery-powered vehicles used for transportation over short distances, primarily on golf courses. They offer easy maneuverability and facilitate convenient transportation of golf equipment and users over the green. Golf carts consume less energy compared to gasoline-powered vehicles and help reduce environmental footprint. The growing golf tourism industry and increasing participation in recreational golf activities are fueling demand for specialized utility vehicles like golf carts in India.

The Global India Golf Cart Market is estimated to be valued at US$ 29.57 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.

Rising interest in golf as a sport and burgeoning golf tourism are major factors propelling the market. Golf carts enhance the overall golf course operations by assisting with turf management tasks, transporting equipment and supplies, and shuttling golfers between holes efficiently. The increasing number of golf courses and club establishments in India presents lucrative opportunities for golf cart manufacturers and rental service providers.

Key Takeaways
Key players operating in the India Golf Cart market are Kogel Trailer GmbH & Co. KG, Wabash National Commercial Trailer Products, Randon Implementos, Great Dane Trailers, Inc., Gray & Adams Ltd., Utility Trailer Manufacturing Company, Hyundai Translead, Montracon Ltd., Schmitz Cargobull AG, Lamberet Refrigerated SAAS, and Fahrzeugwerk Bernard KRONE GmbH.

The rising popularity of golf as a recreational sport is fueling demand for golf carts in India. Golf participation has grown significantly, especially among the affluent demographic. This growing interest in the sport has boosted infrastructure development, including state-of-the-art golf courses, driving demand for specialized vehicles.

International golf brands are increasingly looking to tap the burgeoning Indian golf cart market size by partnering with domestic golf course operators and local governments. This is providing afillip to golf infrastructure expansion across major Indian cities. The growing network of golf destinations is promoting the rental and purchase of golf carts among facilities.

Market Key Trends
Electric golf carts are gaining traction in India as environmentally-friendly alternatives to gasoline variants. They offer lower operating costs with negligible emissions. This makes them particularly appealing for frequent short-haul applications on golf courses. Leading manufacturers are focusing on introducing innovative electric models with advanced lithium-ion batteries and efficient drivetrains to meet the rising sustainable mobility demand. Meanwhile, the golf cart rental market is flourishing in India, allowing golf facilities and individual users flexible acquisition options. This has further spurred market growth over the recent past.

Porter’s Analysis
Threat of new entrants: High capital requirement and strong brand loyal customers make it difficult for new players to enter the market.
Bargaining power of buyers: Buyers have moderate bargaining power due to fragmented presence of multiple manufacturers.
Bargaining power of suppliers: Suppliers have low bargaining power as raw materials used in manufacturing are easily available.
Threat of new substitutes: Low threat of substitution as golf carts have unique usage and no close substitute.
Competitive rivalry: Market comprises few large manufacturers and competition is based on quality, innovation and pricing.

Geographical Regions
India golf cart market value is majorly concentrated in Maharashtra, Gujarat, New Delhi and Karnataka. Booming tourism and recreational facilities development by various state governments in these regions drive significant golf cart sales.

Rajasthan is emerging as the fastest growing region for India golf cart market. Growing adventure sports activities and rising number of golf courses construction projects approved by the state government is attracting high sales of golf carts in the region. Recent initiatives of the Rajasthan government to promote golf tourism is positively impacting the golf cart market growth.

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  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it