India's Golf Cart Market Set for Growth by Rising Affinity Towards Golf Tourism
The India golf cart market has been gaining significant traction over the recent years on account of the rising popularity of golf tourism in the country. Golf carts or golf buggies provide convenient transport for golfers across golf courses and are becoming increasingly common at golf resorts and clubs in India. Being eco-friendly and emission-free, golf carts help promote sustainability while enhancing the overall golfing experience. The battery-powered electric variants allow silent and smooth rides over turf and have emerged as a preferable choice among resorts and courses.
The Global India Golf Cart Market is estimated to be valued at US$ 2.72 Bn in 2024 and is expected to exhibit a CAGR of 13.% 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. They are focusing on expanding their product portfolios and venturing into electric golf carts to capitalize on the growing preference for sustainable transport solutions.
The rising number of golf resorts and luxury golf courses in India is driving lucrative opportunities for golf cart manufacturers and rental service providers. State governments promoting golf tourism through infrastructure development projects will further propel market growth.
The market is witnessing increased international investments with global leaders setting up local manufacturing units to tap the vast untapped potential. Domestic players are also eyeing overseas expansion opportunities arising from India's growing influence in the global golf industry.
Market Drivers
The rapid growth of golf tourism in India owing to initiatives like 'Golf Tourism Policy' and 'Adopt a Golf Course' is a prime driver boosting demand for golf carts. India is emerging as a leading golfing destination in Asia Pacific with several high-profile golf courses coming up across states. The growing interest amongst Indians in taking up golf as a recreational sport is also driving the need for convenient intra-course transport solutions like golf carts. Furthermore, implementation of stricter emission norms is encouraging the adoption of environment-friendly electric golf carts.
PEST Analysis
Political: There are no strict laws or regulations concerning golf cart usage in India. However, golf carts need to adhere to general road safety norms.
Economic: India's growing economy and rising disposable incomes have boosted leisure activities like golf. This has driven demand for golf carts used on golf courses.
Social: Golf is slowly gaining popularity among the urban elite in India. More people have started taking up golf as a hobby and leisure activity. This has increased the need for environment-friendly transport on golf courses.
Technological: Advancements in battery technology have enhanced golf cart features like speed, driving range and charging time. New models offer connectivity options and infotainment systems. Solar panels are also being incorporated in some high-end electric golf carts.
The geographical regions where the India golf cart market is concentrated in terms of value are Maharashtra, Gujarat, Karnataka and Tamil Nadu. These western and southern states have a higher number of golf courses per capita. Private golf clubs catering to high net worth individuals based in metropolitan areas are driving demand.
The fastest growing region for the India golf cart market is expected to be the national capital region comprising Delhi, Gurgaon, Noida and Faridabad. Many new international standard golf resorts and clubs are coming up in this region to attract tourists and business travelers. This is expected to propel the sales of golf carts in North India over the coming years.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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