INDIA GOLF CART MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2022 to 2030)

A golf cart or golf car is a small vehicle, which designed to carry two golfers and their golf clubs around a golf course. Golf carts are available in a wide range of formats and are used to convey a small number of passengers at less speed and shorter distances. According to the American National Standards Institute (ANSI), a golf cart is a self-propelled vehicle driven by electric motors and internal combustion engines typically meant for and used on golf courses for transporting golfers and their equipment. Battery operated vehicles (BOVs) used for internal transportation of man and material, with an average speed of 25–50 Kmph.

 In 2021, India Golf Cart Market is estimated to reach US$ 17.3 Million in terms of value.

Market Dynamics

India has witnessed rapid urbanization in the last two decades. According to the World Bank, over 33% of the Indian population lived in urban areas in 2015 as compared to 18% in 1965. Growing urbanization combined with increasing industrialization has led to boost in mall culture, amusement and theme parks, and hi-tech and smart housing projects. Such development is expected to accelerate the demand for internal transportation, in order to carry people and goods. Furthermore, golf carts are emerging as a significant part of industries for internal transportation. Thus, rapid urbanization and industrialization are expected to drive growth of the market during the forecast period. Golf carts are battery-operated vehicles with simple build and maximum speed of up to 31 km/h. As a result of this, golf cars have become most favored vehicles in public places such as tourist spots, railway stations, and airports. Moreover, golf carts are easy to operate and do not require trained people to operate them. Besides, golf carts fall under electric vehicles, which have power of less than 250 W and are generally not categorized as motor vehicles. Hence, no transport rules are applicable to golf carts in India. Leniency in government regulations, coupled with simplicity in the manufacture of golf carts, has boosted production of golf carts in the country. Hence, these factors are expected to propel the India golf cart market growth over the forecast period.

Key features of the study:

• This report provides an in-depth analysis of the India Golf Cart Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the India Golf Cart Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered in the India Golf Cart Market includes Auto Power, Volmac Engg. (P) Limited, Club Car, LLC, Carrieall Car Private Limited, Speedways Electric, GDrive Golf Carts, Maini Material Movement Pvt. Ltd., Nebula Automotive Pvt. Ltd., Prevalence Ltd., and Yamaha Golf-Car Company.
• These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, Application up gradation, market expansion, and marketing tactics
• The India Golf Cart market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the India Golf Cart Market

Detailed Segmentation

• India Golf Cart Market, By Product Type
• • ELECTRIC
  • GASOLINE
• India Golf Cart Market, By Seating Capacity
  • 2–4 Seater
  • 6–8 Seater
  • 10+ Seater
• India Golf Cart Market, By Application
  • PSUs
  • Railways
  • Hotel/Resorts
  • Golf Courses
  • Airports
  • Housing Projects
  • Others
• Company Profiles
• • Auto Power*
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Key Strategies
    • Recent Developments
    • Future Plans
  • Carrieall Car Private Limited
  • Club Car, LLC
  • GDrive Golf Carts
  • Maini Material Movement Pvt. Ltd.
  • Nebula Automotive Pvt. Ltd.
  • Prevalence Ltd
  • Speedways Electric
  • Volmac Engg. (P) Limited
  • Yamaha Golf-Car Company

“*” marked represents similar segmentation in other categories in the respective section.