Golf carts have emerged as an integral part of golf courses owing to their functionality in transporting golfers and their equipment conveniently within large golf course premises. Golf carts aid in quick and hassle-free mobility for senior golfers or those recovering from injuries. They allow golfers to focus solely on their game while commuting between holes. The rising golf tourism industry in India has significantly contributed to higher demand for specialized golf carts. India is witnessing sizable investments to develop international standard golf courses across major cities and tourist destinations. Several domestic and international players are adding golf properties to their portfolio to appeal to India’s growing affluent population and attract golf enthusiasts from across the globe. This growing network of golf courses is propelling the need for fleet of golf carts.

The global India Golf Cart Market is estimated to be valued at US$ 25.66 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.

Market key Trends

The rising popularity of eco-friendly, solar-powered golf carts aligning with sustainability goals of golf courses is one of the key trends witnessed in the industry. Leading golf cart manufacturers are focusing on developing hybrid and fully electric golf carts to reduce carbon footprint of golf facilities. Furthermore, advancement in lithium-ion battery technology is enabling golf cart producers to enhance battery life and driving range of electric golf carts. This is increasing adoption of alternative fueled golf carts among environmentally conscious operators. Integration of technologies such as GPS and Bluetooth in high-end golf carts is another distinguishing trend. These features provide convenience to golfers through functionalities like locating carts, streaming music, and integrating with course management systems. The ability of golf carts embedded with latest technologies to enhance golfer experience is driving their popularity among premium golf clubs and resorts.

Porter’s Analysis

Threat of new entrants: Entry barriers in the India golf cart market are moderate as it requires technical expertise and initial investments. However, presence of established brands make the market competitive for new entrants.

Bargaining power of buyers: Buyers have moderate bargaining power driven by the availability of several options from key brands. However, bulk buyers have high bargaining power.

Bargaining power of suppliers: The suppliers have moderate bargaining power due to availability of raw material suppliers and established supply chains. However, branding plays a crucial role.

Threat of new substitutes: Substitutes like electric vehicles pose low threat currently owing to their higher costs and niche application of golf carts in golf courses.

Competitive rivalry: The market witnesses high competition owing to presence of global and domestic manufacturers. Factors like brand, product differentiation, and pricing intensity influence competition.

Key Takeaways

The global India Golf Cart Market Share is expected to witness high growth. The global India Golf Cart Market is estimated to be valued at US$ 25.66 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024-2030.

Regional analysis:

The North region dominates India’s golf cart market and is expected to continue its dominance over the forecast period. States like Delhi, Haryana, Punjab, and Uttarakhand contribute significantly owing to high number of golf courses and players.

Key players: Key players operating in the India golf cart market are Yamaha Motor Co., Ltd., Club Car, LLC, JH Global Services, Inc. (EZ-GO), Maini Materials Movement Pvt. Ltd., Hitachi Cheif Cars Pvt. Ltd.

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