The Global India Golf Cart Market is projected to driven by Increasing Number of Golf Courses
The India golf cart market has been witnessing significant growth over the past few years owing to the rising number of golf courses across the country. Golf carts or buggies are utility vehicles used for transportation purposes at golf courses. They allow easy and effortless movement of golfers and their equipment between different points on the golf course. India has witnessed substantial investments in the development of new golf courses over the past decade due to improving sports infrastructure and rising interest of people in golf as a recreational sport. The number of golf courses registered in India has grown from around 150 courses in 2010 to over 250 courses in 2022.
Government support for golf tourism through initiatives like 'Golf Tourism in India' is also promoting the development of premium international standard golf courses across major cities and tourist destinations. Growing participation from corporate sectors for business meetings and team-building activities at golf courses is another key factor augmenting the demand for convenient transport solutions like golf carts.
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.
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 demand for golf carts is expected to grow significantly during the forecast period due to the rising number of new golf courses and increasing participation in golf as a recreational sport across India. Various state governments are also aggressively promoting golf tourism by developing international standard golf destinations.
The market is witnessing expansion towards smaller cities and tourist spots with golf courses increasingly coming up in places beyond metro and tier-1 cities. Leading global and domestic golf cart manufacturers are targeting such emerging regional markets through customized product offerings and strategic dealership partnerships.
Market Drivers
The rising number of golf courses across India remains the single largest driver augmenting demand for golf carts in the country. As per industry reports, India added over 90 new golf courses in the last five years alone taking the total count to above 250 currently. States with robust golf infrastructure development plans like Maharashtra, Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Punjab, Haryana etc. will continue pushing growth in the foreseeable future. India golf cart market is also gaining from promotional initiatives of the government to boost golf tourism. Growing interest of people from higher-income segments in country clubs and golf as a niche recreational sport bodes well for sustained demand of convenient transport solutions exemplified by golf carts.
Impact of Geopolitical Situation on India Golf Cart Market Growth
The growth of the India golf cart market size is facing challenges due to the ongoing geopolitical conflicts and economic slowdown. Rising political tensions between India and neighboring countries like China and Pakistan are negatively impacting the trade and business scenario. Furthermore, inflationary pressures and high fuel prices are reducing consumer spending power, thereby hampering the demand for golf carts used for leisure and recreational purposes. However, the growing popularity of golf tourism and initiatives by the Government of India to promote sports can support the market in the long run. The industry needs to diversify operations, focus on cost optimization, and explore new export opportunities to withstand current macro headwinds. Additionally, developing lightweight and eco-friendly electric models can help gain traction.
Geographical Regions with High Concentration in India Golf Cart Market
In terms of value, South India accounts for the highest share in the India golf cart market currently. States like Kerala, Karnataka and Tamil Nadu have witnessed substantial growth in tourism, especially golf tourism in recent years on account of many international standard golf courses coming up across cities and towns. The growing infrastructure and real estate development have further necessitated the use of utility vehicles like golf carts for internal transportation. Moreover, higher disposable income levels in metropolitan areas have increased the adoption of golf carts for leisure uses. North India is also emerging as another focus area for golf cart manufacturers due to expanding golf infrastructure.
Fastest Growing Region in the India Golf Cart Market
The West India region is projected to experience the fastest growth in the India golf cart market during the forecast period. States such as Gujarat and Maharashtra are leading industrial and economic hubs attracting significant investments. This has positively impacted the construction and real estate sectors necessitating the use of utility vehicles. Additionally, growing health awareness and rising interest in golf as a sport are driving the sales of recreational golf carts. Domestic manufacturers are also exploring the region to tap the market potential. The development of new smart cities and expansion of airports and seaports will continue to generate demand.
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