India Golf Cart Market is Anticipated to Witness High Growth Owing to Rising Adoption of Golf Carts in Golf Tourism

 


The India golf cart market has been growing significantly over the past few years owing to the rising popularity of golf tourism and increasing number of golf courses in the country. Golf carts offer convenient transportation solutions for travelling within golf courses and provide comfortable commute for golfers carrying bags and equipment. The availability of electric-powered, fuel-efficient, and environment-friendly golf carts has further fuelled their demand. Additionally, golf cart manufacturers are focusing on introducing technologically advanced golf carts with improved features such as charging indicators, anti-theft mechanisms, Bluetooth connectivity and LED headlights.

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.

Key players are focusing on expanding their product portfolios by launching golf carts with new designs, features and improved battery technologies. For instance, Kogel Trailer GmbH & Co. KG launched its new ClubCar Precedent golf cart models with LED headlights and Bluetooth connectivity.

The growth of golf tourism in India is expected to open lucrative opportunities for golf cart manufacturers. States like Himachal Pradesh, Kerala, Goa and Assam are witnessing increasing investments in developing new golf courses and resorts to attract domestic and international golf tourists.

Key companies are planning to expand their presence in global markets like the Middle East, Africa and Southeast Asia. For example, Wabash National Commercial Trailer Products has set up a new manufacturing plant in Dubai to cater to the Gulf countries.

Market Drivers
Growing popularity of golf as a sport - Rising interest among the young population and emergence of new golf clubs and resorts in India are driving the demand for golf carts.
Increasing investments in golf infrastructure - Government initiatives to develop golf tourism and establishment of international standard golf courses are propelling the golf cart market.

Market Restraints
High procurement and maintenance costs - Golf carts have high initial purchase costs while their regular maintenance and repairs add to the overall expense.
Substitute transportation options - Developing public transportation systems provide alternatives to golf carts, limiting their demand.


Segment Analysis

The India golf cart market growth is dominated by the gasoline golf cart sub segment. Over 60% of the overall market share is commanded by gasoline golf carts as they are more affordable and provide better performance on undulating terrains compared to electric golf carts. While electric golf carts have lower maintenance costs and produce zero emissions, restricted range and high acquisition costs, especially of batteries, have slowed down their adoption in India. However, with rapid infrastructure development and rising tourist inflow into golf resorts and clubs, demand for high-end, special utility vehicles and electric golf carts catering to global standards is surging steadily.

Global Analysis

Regionally, Western India accounts for over 40% of the overall India golf cart market demand led by prominent golfing destinations like Maharashtra and Gujarat. These states are witnessing strong GDP growth alongside massive investments in leisure infrastructure development including golf courses, resorts and clubs. Bulk of the remaining demand comes from Southern and Northern regions of the country. Southern India, led by demand from Tamil Nadu and Andhra Pradesh, is the fastest expanding regional market for golf carts given increased foreign tourist arrivals and middle class interest in the sport. Prominent golf equipment manufacturers are also focusing on these high potential regions through strategic tie-ups with golf facility owners and dealers.

Get more insights on this topic: https://www.ukwebwire.com/india-golf-cart-market-share-and-opportunity-analysis/

 

Explore more trending article on this topic: https://masstamilan.tv/automotive-parts-remanufacturing-an-environmental-friendly-and-cost-effective-solution/

Comments

Post a Comment

Popular posts from this blog

Blast Chillers Market Poised to Witness High Growth Owing to Rising Focus on Food Safety

Image
  Blast Chillers Market Blast chillers, also known as shock freeze machines, are appliances used to quickly cool or freeze food items that have been cooked. Blast chillers allow rapid and accurate chilling of cooked or cooked/hot foods quickly to temperatures that inhibit the growth of harmful bacteria. This rapid chilling process helps restaurants, cafes, caterers and foodservice distributors maintain food quality as well as meet critical food safety regulations. Blast chillers help in preserving the look, texture, flavor and nutritional value of foods even after rapid chilling. They extend the shelf life of cooked foods by preventing bacterial growth in the food's temperature danger zone — between 4°C and 60°C. With increasing focus on food safety, hygiene and quality across the foodservice industry, demand for blast chillers has been rising significantly. The Global blast chillers market is estimated to be valued at US$ 2.24 Bn in 2024 and is expected to exhibit a CAGR of 15%...
Read more

Driving Forces and Strategic Insights: Unveiling Growth Opportunities in the Global Pharma 4.0 Market

Image
  Global Pharma 4.0 Market The Global Pharma 4.0 Market is witnessing unprecedented growth driven by several factors. One of the key market drivers is the increasing adoption of digitalization and automation in the pharmaceutical industry. Pharma 4.0 represents the integration of advanced technologies such as artificial intelligence, big data analytics, Internet of Things (IoT), and robotics into pharmaceutical manufacturing and supply chain processes. This integration enhances efficiency, reduces costs, and improves the quality of pharmaceutical products. Additionally, the rising demand for personalized medicine and the need for efficient drug development processes are further fueling the growth of the Global Pharma 4.0 Market. The Global Pharma 4.0 Market is estimated to be valued at   US$ 54.43 Bn in 2024 and is expected to exhibit a CAGR of 18.3% over the forecast period from 2024 to 2031.   Conducting a PEST analysis provides insights into the external facto...
Read more

Navigating Growth: Insights into the Global Flea, Tick, and Heartworm Products Market

Image
  Global Flea, Tick, and Heartworm Products Market The Global Flea, Tick, and Heartworm Products Market have witnessed robust growth in recent years, driven by several key factors. Market drivers such as increasing pet ownership, rising awareness about pet health, and the growing prevalence of flea, tick, and heartworm infections among pets are propelling the demand for related products. Furthermore, advancements in veterinary medicines and the introduction of novel products with improved efficacy are augmenting market growth. The rising disposable income and changing lifestyles, particularly in emerging economies, have also contributed significantly to the expansion of the Global Flea, Tick, and Heartworm Products Market. The Global Flea, Tick, and Heartworm Products Market is estimated to be valued at US$ 3.14 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031. Conducting a PEST analysis provides valuable insights into the external f...
Read more