Golf carts provide convenient transportation solutions on large sports fields, golf courses and industrial premises and help in easy movement of people and cargo
Golf carts provide convenient transportation solutions on large sports fields, golf courses and industrial premises and help in easy movement of people and cargo. With golf gaining popularity as a leisure sport in India, the demand for specialized utility vehicles like golf carts has been on the rise. The golf cart market offers multiple benefits like easy maneuverability, noise-free operations and eco-friendly propulsion systems.
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 key trends:
Increased tourist interest in golfing as a leisure activity has boosted the growth of golf tourism industry across major cities and tourist destinations in India. States like Maharashtra, Karnataka and Tamil Nadu have emerged as key golf tourism hubs by promoting golf courses and developing infrastructure around them. This has positively impacted the golf cart market as more golf courses and resorts are investing in fleets of dedicated golf carts for convenient transportation of golfers and equipment within the premises. The golf cart market is expected to grow steadily with the rising popularity of golf tourism experience in India.
Segment Analysis
The India golf cart market is expected to be dominated by electric golf carts, which accounted for over 60% of the total market share in 2023. This is due to the growing awareness about environmental concerns and rising demand for eco-friendly transportation solutions. Electric golf carts run on rechargeable batteries and produce zero direct emissions, making them a sustainable alternative to fossil fuel-powered counterparts. Their low operating costs and minimal maintenance requirements further appeal to customers and golf course owners.
Key Takeaways
The India Golf Cart Market Demand is expected to witness high growth over the forecast period of 2023 to 2030 owing to rising number of golf courses and expansion in tourism and recreational activities. 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
The western region accounted for the largest share in India's golf cart market in 2023 due to presence of a large number of golf courses located around major cities like Mumbai and Pune. States like Maharashtra and Goa are witnessing rapid development of integrated golf resorts and tourism projects which is fueling demand for golf carts in the region.
Key players related
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 companies are focusing on launching new electric golf cart models with advanced features to capitalize on the growing environmental consciousness.
Explore more related article on this topic: https://www.newsanalyticspro.com/india-golf-cart-market-is-projected-to-driven-by-increasing-interest/
Comments
0 comment