by The golf cart market in India has witnessed significant growth over the past few years owing to the rising demand from golf courses and luxury resorts in the country. Golf carts provide comfortable transportation within resort premises for guests and staff. They are cost-effective, eco-friendly, and convenient for commuting short-to-medium distances. Various models such as electaric, gas, and hybrid are available according to terrain and usage. Major advantages of golf carts include lower maintenance costs than traditional vehicles, noise and emission-free operation, and higher fuel efficiency. The growing popularity of golf among India’s affluent population and expansion of resort infrastructure are driving the demand for technologically advanced 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. These manufacturers offer diversified golf cart models and provide strong distribution networks across the country.
The rising installation of solar panels in golf carts along with the development of lithium-ion batteries provide key opportunities in the market. They make golf carts more environment-friendly and efficient to use. Further, the integration of GPS and telematics allows fleet operators to effectively track and monitor golf cart movement.
Technological advancements including addition of USB ports, Bluetooth connectivity, and app-based controls have enhanced the functionality of modern golf carts. Meanwhile, development of alternative fuel models like compressed natural gas and autogas is expected to boost adoption. Electric golf carts with advanced lithium batteries offering longer range are also gaining traction.
Market Drivers
The key drivers contributing to the growth of the India golf cart market are –
Growing popularity of golf tourism: India is witnessing rising influx of foreign and domestic golf tourists. Several new international standard golf courses catering to tourists are being developed.
Infrastructure expansion of luxury resorts: More resorts are installing fleets of golf carts for easy internal commute. This is driven by boom in hospitality and wellness tourism industry.
Government support to promote golf: Favorable initiatives for golf development through projects like ‘India Golf Development’ aimed at promoting golf as a sport are aiding market growth.
Rising disposable income: India’s affluent population is increasingly taking up golf as a hobby. This supports procurement of associated equipment and vehicles such as golf carts.
Challenges in India Golf Cart Market
The India golf cart market size is currently facing challenges such as lack of infrastructure, lack of standard regulations, high cost of manufacturing and technological advancements. Since the market is still in a nascent stage, there is lack of standard golf courses and infrastructure required for golf carts. Absence of standard regulations by government bodies has also impacted the growth of the market. Moreover, manufacturing golf carts with latest technology incurs high costs which increases the overall price of golf carts. This poses a challenge for wider adoption of golf carts across different sectors.
SWOT Analysis
Strength: Growing interest in golf sport and increasing number of golf courses in India are creating demand for golf carts. They provide ease of transportation and mobility for golf players in the course.
Weakness: High costs of manufacturing and limitations in technology are restricting golf cart adoption. Lack of standardization also affects product quality.
Opportunity: Untapped rural markets and growing tourism can drive the golf cart demand if supported by infrastructure development. New product innovations with renewable energy sources present new opportunities.
Threats: Rising electric vehicles and availability of alternatives for transportation poses competition. Economic slowdowns impact spending on recreational activities and luxury purchases like golf carts.
Geographical Regions
In terms of value, north India region currently holds over 35% share of the India golf cart market led by states like Haryana, Delhi and Punjab. This is due to presence of majority of golf courses and higher disposable income in this region.
The south India region is expected to witness fastest growth during the forecast period. Rising number of golf associations and courses being set up in states like Karnataka, Tamil Nadu and Kerala are creating high potential for golf cart market growth in this region.
Current challenges in India Golf Cart Market
The golf cart market in India is currently at a nascent stage, with numerous challenges restricting its growth. Firstly, lack of standard regulations regarding safety, speed limits and manufacturing specifications has led to inconsistent product quality. Secondly, the overall costs of golf carts are high compared to income levels in India. Absence of mass production and local manufacturing have increased reliance on imports, adding to the costs. Thirdly, inadequate infrastructure in terms of separate lanes, parking spaces and charging stations limits the adoption of golf carts beyond golf courses. Finally, low awareness among general public about the benefits of golf carts as eco-friendly vehicles poses a significant challenge. Wider marketing campaigns are required to promote their usage for airport transports, weekly markets etc. Overcoming these challenges is necessary to accelerate golf cart adoption in India.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
