June 25, 2024
India Golf Cart Market

India Golf Cart Market Is Expected To Be Flourished By Rising Number Of Golf Courses In The Country

Golf carts or golf buggies are small vehicles used to transport golf bags and golfers around a golf course. They have four wheels and a small gasoline or electric motor for mobility assistance. Golf carts are available in different sizes depending on seating capacity ranging from two to fourteen seats. Traditionally, golf carts had lead-acid batteries and basic functionality. However, with technological advancements, modern golf carts are equipped with lithium-ion batteries offering longer run times, GPS tracking, Bluetooth connectivity, and stylish exteriors. Golf courses utilize fleet of golf carts to ensure smooth gameplay for multiple golfers at one time. Rising number of golf courses in India is one of the major opportunities fueling the demand for golf carts 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, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Rising number of golf courses: Golf is gaining popularity among elite and middle-class population in India. In order to promote golf tourism, various state governments are developing new golf courses across major cities. For instance, over 40 golf courses were added between 2015 to 2020 taking total golf courses in India to over 200. Such rising infrastructure is translating to increased demand for fleet of well-maintained golf carts from golf clubs and resorts.

Technological advancements:

Golf cart manufacturers are focusing on developing tech-enabled electric golf carts with Smartphone connectivity, GPS tracking, Bluetooth connectivity, USB charging ports and sleek exteriors. Such features are appealing to modern golfers and clubs are willing to upgrade their old fleet with advanced electric golf carts. This driver is expected to propel the India golf cart market growth over the forecast period.

Segment Analysis

The Indian golf cart market is dominated by the two-seater golf cart sub-segment which has a market share of around 45%. This is because most golf courses in India require lightweight and compact golf carts for convenient mobility of two golfers and their bags around the golf course. The four-seater golf cart sub-segment is growing steadily due to increasing popularity of family outings and recreational activities at golf courses on weekends.

PEST Analysis

Political: The government promotes growth of tourism and sports sector through favorable policies and infrastructure development support. This benefits golf tourism.
Economic: Rising income levels and interest of young population in open-air sports is fueling demand. However, high customs duty of 60-80% on imported golf cars is a challenge.
Social: Golf is seen as a luxury sport but is gaining popularity among the young. More people are taking interest in weekend activities like golf.
Technological: Lithium-ion battery and solar-powered models are gaining traction due to their low maintenance and fuel efficiency. GPS and Bluetooth enabled features in new golf carts enhance comfort.

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 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.

Regional analysis comprises Northeast region accounted for over 20% market share in 2024 driven by projects like Tourist Circuit at Sikkim. States like West Bengal and Assam are also witnessing growth in recreational facilities and tourism.

Key players comprise Key players operating in the India golf cart market are Yamaha Motor Co., Ltd., Club Car (Ingersoll-Rand plc.), Garia A/S, Cruise Car, Inc., and Textron Specialized Vehicles Inc. Yamaha and Garia are leaders in the high-end golf cart market while Club Car dominates in fleet sales to golf courses.

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