Battery Powered Golf Carts is the largest segment driving the...

Battery Powered Golf Carts is the largest segment driving the growth of India Golf Cart Market

Posted 2023-11-14 09:53:53

The global India Golf Cart Market is estimated to be valued at US$ 25.66 Mn or Mn in 2023 and is expected to exhibit a CAGR of 21.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
India Golf Cart helps in carrying golfing equipment like golf bags, clubs and provides convenient transportation for golfers on golf courses. It enhances mobility for elderly and physically challenged golfers on large courses.

Market key trends:
Golf carts are becoming more technically advanced with inclusion of features like GPS navigation systems, Bluetooth connectivity and mobile charging points. Battery technologies are improving to provide longer run times per charge. Lithium-ion batteries are gaining popularity over traditional lead-acid batteries due to higher power density and longer life. Golf cart manufacturers are focusing on development of solar-powered golf carts and hybrid electric vehicles integrating regenerative breaking. Lightweight materials like composites and aluminum are being used to manufacture structures for improved fuel-efficiency.

Market key trends:
The India golf cart market has been witnessing rising adoption driven by increasing construction of golf courses and members-only clubs across India. With growing interest in golf as a sport in the country and rising disposable income, numerous golf courses adhering to international standards have been coming up. This has fueled the demand for technologically advanced and high-performance golf carts for transferring golfers as well as their kits across golf courses efficiently. Moreover, golf cart manufacturers are engaging in new product launches catering to the emerging requirements of golf courses as well as individual customers.

SWOT Analysis
Strength: Growing construction of golf courses in India is driving robust demand for golf carts.
Weakness: High cost of advanced golf carts remain unaffordable for some customers.
Opportunity: Untapped rural areas present new market expansion opportunities.
Threats: Availability of cheaper alternatives can pose challenge to market growth.

Key Takeaways
India Golf Cart Market Demand is expected to witness high growth, exhibiting CAGR of 21% over the forecast period, due to increasing construction of golf courses across India. Metros and tier I and II cities have emerged as major hubs for golf tourism and are witnessing rising golf cart adoption.
Regional analysis: The North region holds dominant share in India's golf cart market currently due to maximum number of golf courses located in states like Haryana, Punjab, Delhi, etc. Southern region is also growing rapidly on back of projects like KGA Golf Course in Bengaluru.
Key players operating in the India golf cart market are Auto Power, Volmac Engg. (P) Limited, Club Car, LLC, Carrieall Car Private Limited, Speedways Electric, GDrive Golf Carts, Maini Material Movement Pvt. Ltd., Nebula Automotive Pvt. Ltd., Prevalence Ltd., and Yamaha Golf-Car Company.