Asia-Pacific Golf Cart Market - By Fuel Type (Gasoline, Electric); By Seating Capacity (2–4 Seater, 4–8 Seater, and More than 8 Seater); By Vehicle Speed (Low-Speed Vehicles, High-Speed Vehicles); By End User (Golf Course, Personal Services, Commercial Services), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Asia-Pacific Golf Cart Market Size Expanding to Reach USD 160 Million by 2029
Asia-Pacific golf cart market is flourishing owing to fiscal and monetary policies, the expansion of new buildings, particularly in the real estate and tourism sectors, and the rise in demand from affluent consumers.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Asia-Pacific golf cart market size at USD 105.21 million in 2022. During the forecast period between 2023 and 2029, the Asia-Pacific golf cart market size is projected to grow at a CAGR of 6.29% reaching a value of USD 159.97 million by 2029. The fiscal and monetary policies, as well as an increase in new development, particularly in the real estate and tourism industries, as well as an increase in demand from high-end consumers, are predicted to give the regional market in Asia-Pacific golf carts lucrative growth potential. Due mostly to an increase in high-end consumer demand, golf carts are steadily becoming increasingly well-liked across the nation. Also, the nation is a major market for low-speed automobiles (LSVs). Rising earnings and disposable incomes are anticipated to drive the purchasing of golf carts in India, which is on course to become the third-largest economy in the world by 2030. However, the Asia-Pacific golf cart market may be constrained by declining golf membership in several countries, including Japan.
Asia-Pacific Golf Cart Market – Overview
Two golfers and their clubs can be transported around a golf course in a golf cart, also referred to as a golf cart. Golf carts are intended to transport a small group of people over shorter distances and at a slower speed. They are available in a range of designs. For moving golfers and their equipment around golf courses, golf carts are self-propelled vehicles with internal combustion engines and electric motors. Battery-operated vehicles (BOVs), which normally travel at 25 to 50 km/h, are used for internal transportation of persons and products.
Asia-Pacific Golf Cart Market – By Application
Asia-Pacific golf cart market is segmented by end-user into Golf Course, Personal Services, and Commercial Services. The golf course segment is expected to grow during the forecast period due to the presence of a large number of golf courses across Asia Pacific. In addition, as golf has grown in popularity in recent years, so has coaching and investment in the sport. Professional golfers prefer to play on traditional golf courses, despite the high costs.
Competitive Landscape
Asia-Pacific golf cart market is fiercely competitive, with Cruise Car Inc., HDK Electric Vehicle, Varley Group, Polaris Industries Inc, Star EV Corporation, Yamaha Golf-Car Company, Thai Summit Group, Karrior Electric Vehicles, Hawk Carts, Tomberlin, and Other Prominent Players. Companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Asia-Pacific golf cart market.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Asia-Pacific Golf Cart Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Asia-Pacific Golf Cart Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Asia-Pacific Golf Cart Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Rising construction activities due to rapid urbanization
- 3.2.1.2. Growing tourism and hotel industry
- 3.2.1.3. Increasing participation in golf across the emerging economies
- 3.2.2. Restraints
- 3.2.2.1. High cost of product and its initial maintenance
- 3.2.2.2. Low power and speed
- 3.2.3. Opportunities
- 3.2.3.1. Rising technological advancements in Golf Cart
- 3.2.3.2. Reduction in fuel and battery costs
- 3.2.4. Challenges
- 3.2.4.1. Low-quality products offered by local players in the region
- 3.3. Technology Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Asia-Pacific Golf Cart Market Overview
- 4.1. Market Size & Forecast, by Value, 2019–2029
- 4.1.1. By Value (USD Billion)
- 4.2. Market Share & Forecast
- 4.2.1. By Fuel Type
- 4.2.1.1. Gasoline
- 4.2.1.2. Electric
- 4.2.2. By Seating Capacity
- 4.2.2.1. 2-4 Seater
- 4.2.2.2. 4-8 Seater
- 4.2.2.3. More than 8 Seater
- 4.2.3. By Vehicle Speed
- 4.2.3.1. Low-Speed Vehicles
- 4.2.3.2. High-Speed Vehicles
- 4.2.4. By End User
- 4.2.4.1. Golf Course
- 4.2.4.2. Personal Services
- 4.2.4.3. Commercial Services
- 5. Asia Pacific Golf Cart Market
- 5.1. Market Size & Forecast, by Value, 2019–2029
- 5.1.1. By Value (USD Billion)
- 5.2. Market Share & Forecast
- 5.2.1. By Fuel Type
- 5.2.2. By Seating Capacity
- 5.2.3. By Vehicle Speed
- 5.2.4. By Country
- 5.2.4.1. China
- 5.2.4.1.1. By Fuel Type
- 5.2.4.1.2. By Seating Capacity
- 5.2.4.1.3. By Vehicle Speed
- 5.2.4.1.4. By Application
- 5.2.4.2. India
- 5.2.4.2.1. By Fuel Type
- 5.2.4.2.2. By Seating Capacity
- 5.2.4.2.3. By Vehicle Speed
- 5.2.4.2.4. By Application
- 5.2.4.3. Japan
- 5.2.4.3.1. By Fuel Type
- 5.2.4.3.2. By Seating Capacity
- 5.2.4.3.3. By Vehicle Speed
- 5.2.4.3.4. By Application
- 5.2.4.4. South Korea
- 5.2.4.4.1. By Fuel Type
- 5.2.4.4.2. By Seating Capacity
- 5.2.4.4.3. By Vehicle Speed
- 5.2.4.4.4. By Application
- 5.2.4.5. Australia & New Zealand
- 5.2.4.5.1. By Fuel Type
- 5.2.4.5.2. By Seating Capacity
- 5.2.4.5.3. By Vehicle Speed
- 5.2.4.5.4. By Application
- 5.2.4.6. Indonesia
- 5.2.4.6.1. By Fuel Type
- 5.2.4.6.2. By Seating Capacity
- 5.2.4.6.3. By Vehicle Speed
- 5.2.4.6.4. By Application
- 5.2.4.7. Malaysia
- 5.2.4.7.1. By Fuel Type
- 5.2.4.7.2. By Seating Capacity
- 5.2.4.7.3. By Vehicle Speed
- 5.2.4.7.4. By Application
- 5.2.4.8. Singapore
- 5.2.4.8.1. By Fuel Type
- 5.2.4.8.2. By Seating Capacity
- 5.2.4.8.3. By Vehicle Speed
- 5.2.4.8.4. By Application
- 5.2.4.9. Philippines
- 5.2.4.9.1. By Fuel Type
- 5.2.4.9.2. By Seating Capacity
- 5.2.4.9.3. By Vehicle Speed
- 5.2.4.9.4. By Application
- 5.2.4.10. Vietnam
- 5.2.4.10.1. By Fuel Type
- 5.2.4.10.2. By Seating Capacity
- 5.2.4.10.3. By Vehicle Speed
- 5.2.4.10.4. By Application
- 5.2.4.11. Rest of Asia Pacific
- 5.2.4.11.1. By Fuel Type
- 5.2.4.11.2. By Seating Capacity
- 5.2.4.11.3. By Vehicle Speed
- 5.2.4.11.4. By Application
- 6. Competitive Landscape
- 6.1. List of Key Players and Their Offerings
- 6.2. Asia-Pacific Golf Cart Company Market Share Analysis, 2022
- 6.3. Competitive Benchmarking, By Operating Parameters
- 6.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
- 7. Impact of Covid-19 on Asia-Pacific Golf Cart Market
- 8. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 8.1. Cruise Car Inc.
- 8.2. HDK Electric Vehicle
- 8.3. Varley Group
- 8.4. Polaris Industries Inc
- 8.5. Star EV Corporation
- 8.6. Yamaha Golf-Car Company
- 8.7. Thai Summit Group
- 8.8. Karrior Electric Vehicles
- 8.9. Hawk Carts
- 8.10. Tomberlin
- 8.11. Other Prominent Players
- 9. Key Strategic Recommendations
- 10. Research Methodology
- 10.1. Qualitative Research
- 10.1.1. Primary & Secondary Research
- 10.2. Quantitative Research
- 10.3. Market Breakdown & Data Triangulation
- 10.3.1. Secondary Research
- 10.3.2. Primary Research
- 10.4. Breakdown of Primary Research Respondents, By Region
- 10.5. Assumptions & Limitations
- *Financial information in case of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
- List of Figures
- Figure 1 Asia-Pacific Golf Cart Segmentation
- Figure 2 Asia-Pacific Golf Cart Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 Asia-Pacific Golf Cart Market Size, By Value (USD Million), 2019–2029
- Figure 5 Asia-Pacific Golf Cart Market Share, By Fuel Type, By Value, 2019–2029
- Figure 6 Asia-Pacific Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029
- Figure 7 Asia-Pacific Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029
- Figure 8 Asia-Pacific Golf Cart Market Share, By Application, By Value, 2019–2029
- Figure 9 Asia-Pacific Golf Cart Market Share, By Country, By Value, 2019–2029
- Figure 10 China Golf Cart Market Size, By Value (USD Million), 2019–2029
- Figure 11 China Golf Cart Market Share, By Fuel Type, By Value, 2019–2029
- Figure 12 China Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029
- Figure 13 China Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029
- Figure 14 China Golf Cart Market Share, By Application, By Value, 2019–2029
- Figure 15 India Golf Cart Market Size, By Value (USD Million), 2019–2029
- Figure 16 India Golf Cart Market Share, By Fuel Type, By Value, 2019–2029
- Figure 17 India Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029
- Figure 18 India Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029
- Figure 19 India Golf Cart Market Share, By Application, By Value, 2019–2029
- Figure 20 Japan Golf Cart Market Size, By Value (USD Million), 2019–2029
- Figure 21 Japan Golf Cart Market Share, By Fuel Type, By Value, 2019–2029
- Figure 22 Japan Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029
- Figure 23 Japan Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029
- Figure 24 Japan Golf Cart Market Share, By Application, By Value, 2019–2029
- Figure 25 South Korea Golf Cart Market Size, By Value (USD Million), 2019–2029
- Figure 26 South Korea Golf Cart Market Share, By Fuel Type, By Value, 2019–2029
- Figure 27 South Korea Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029
- Figure 28 South Korea Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029
- Figure 29 South Korea Golf Cart Market Share, By Application, By Value, 2019–2029
- Figure 30 Australia & New Zealand Golf Cart Market Size, By Value (USD Million), 2019–2029
- Figure 31 Australia & New Zealand Golf Cart Market Share, By Fuel Type, By Value, 2019–2029
- Figure 32 Australia & New Zealand Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029
- Figure 33 Australia & New Zealand Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029
- Figure 34 Australia & New Zealand Golf Cart Market Share, By Application, By Value, 2019–2029
- Figure 35 Indonesia Golf Cart Market Size, By Value (USD Million), 2019–2029
- Figure 36 Indonesia Golf Cart Market Share, By Fuel Type, By Value, 2019–2029
- Figure 37 Indonesia Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029
- Figure 38 Indonesia Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029
- Figure 39 Indonesia Golf Cart Market Share, By Application, By Value, 2019–2029
- Figure 40 Malaysia Golf Cart Market Size, By Value (USD Million), 2019–2029
- Figure 41 Malaysia Golf Cart Market Share, By Fuel Type, By Value, 2019–2029
- Figure 42 Malaysia Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029
- Figure 43 Malaysia Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029
- Figure 44 Malaysia Golf Cart Market Share, By Application, By Value, 2019–2029
- Figure 45 Singapore Golf Cart Market Size, By Value (USD Million), 2019–2029
- Figure 46 Singapore Golf Cart Market Share, By Fuel Type, By Value, 2019–2029
- Figure 47 Singapore Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029
- Figure 48 Singapore Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029
- Figure 49 Singapore Golf Cart Market Share, By Application, By Value, 2019–2029
- Figure 50 Philippines Golf Cart Market Size, By Value (USD Million), 2019–2029
- Figure 51 Philippines Golf Cart Market Share, By Fuel Type, By Value, 2019–2029
- Figure 52 Philippines Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029
- Figure 53 Philippines Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029
- Figure 54 Philippines Golf Cart Market Share, By Application, By Value, 2019–2029
- Figure 55 Vietnam Golf Cart Market Size, By Value (USD Million), 2019–2029
- Figure 56 Vietnam Golf Cart Market Share, By Fuel Type, By Value, 2019–2029
- Figure 57 Vietnam Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029
- Figure 58 Vietnam Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029
- Figure 59 Vietnam Golf Cart Market Share, By Application, By Value, 2019–2029
- Figure 60 Rest of APAC Golf Cart Market Size, By Value (USD Million), 2019–2029
- Figure 61 Rest of APAC Golf Cart Market Share, By Fuel Type, By Value, 2019–2029
- Figure 62 Rest of APAC Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029
- Figure 63 Rest of APAC Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029
- Figure 64 Rest of APAC Golf Cart Market Share, By Application, By Value, 2019–2029
- List of Tables
- Table 1 Asia-Pacific Golf Cart Market Size, By Fuel Type, By Value, 2019–2029
- Table 2 Asia-Pacific Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029
- Table 3 Asia-Pacific Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029
- Table 4 Asia-Pacific Golf Cart Market Size, By Application, By Value, 2019–2029
- Table 5 Asia-Pacific Golf Cart Market Size, By Country, By Value, 2019–2029
- Table 6 China Golf Cart Market Size, By Value (USD Million), 2019–2029
- Table 7 China Golf Cart Market Size, By Fuel Type, By Value, 2019–2029
- Table 8 China Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029
- Table 9 China Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029
- Table 10 China Golf Cart Market Size, By Application, By Value, 2019–2029
- Table 11 India Golf Cart Market Size, By Value (USD Million), 2019–2029
- Table 12 India Golf Cart Market Size, By Fuel Type, By Value, 2019–2029
- Table 13 India Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029
- Table 14 India Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029
- Table 15 India Golf Cart Market Size, By Application, By Value, 2019–2029
- Table 16 Japan Golf Cart Market Size, By Value (USD Million), 2019–2029
- Table 17 Japan Golf Cart Market Size, By Fuel Type, By Value, 2019–2029
- Table 18 Japan Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029
- Table 19 Japan Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029
- Table 20 Japan Golf Cart Market Size, By Application, By Value, 2019–2029
- Table 21 South Korea Golf Cart Market Size, By Value (USD Million), 2019–2029
- Table 22 South Korea Golf Cart Market Size, By Fuel Type, By Value, 2019–2029
- Table 23 South Korea Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029
- Table 24 South Korea Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029
- Table 25 South Korea Golf Cart Market Size, By Application, By Value, 2019–2029
- Table 26 Australia & New Zealand Golf Cart Market Size, By Value (USD Million), 2019–2029
- Table 27 Australia & New Zealand Golf Cart Market Size, By Fuel Type, By Value, 2019–2029
- Table 28 Australia & New Zealand Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029
- Table 29 Australia & New Zealand Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029
- Table 30 Australia & New Zealand Golf Cart Market Size, By Application, By Value, 2019–2029
- Table 31 Indonesia Golf Cart Market Size, By Value (USD Million), 2019–2029
- Table 32 Indonesia Golf Cart Market Size, By Fuel Type, By Value, 2019–2029
- Table 33 Indonesia Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029
- Table 34 Indonesia Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029
- Table 35 Indonesia Golf Cart Market Size, By Application, By Value, 2019–2029
- Table 36 Malaysia Golf Cart Market Size, By Value (USD Million), 2019–2029
- Table 37 Malaysia Golf Cart Market Size, By Fuel Type, By Value, 2019–2029
- Table 38 Malaysia Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029
- Table 39 Malaysia Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029
- Table 40 Malaysia Golf Cart Market Size, By Application, By Value, 2019–2029
- Table 41 Singapore Golf Cart Market Size, By Value (USD Million), 2019–2029
- Table 42 Singapore Golf Cart Market Size, By Fuel Type, By Value, 2019–2029
- Table 43 Singapore Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029
- Table 44 Singapore Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029
- Table 45 Singapore Golf Cart Market Size, By Application, By Value, 2019–2029
- Table 46 Philippines Golf Cart Market Size, By Value (USD Million), 2019–2029
- Table 47 Philippines Golf Cart Market Size, By Fuel Type, By Value, 2019–2029
- Table 48 Philippines Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029
- Table 49 Philippines Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029
- Table 50 Philippines Golf Cart Market Size, By Application, By Value, 2019–2029
- Table 51 Vietnam Golf Cart Market Size, By Value (USD Million), 2019–2029
- Table 52 Vietnam Golf Cart Market Size, By Fuel Type, By Value, 2019–2029
- Table 53 Vietnam Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029
- Table 54 Vietnam Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029
- Table 55 Vietnam Golf Cart Market Size, By Application, By Value, 2019–2029
- Table 56 Rest of APAC Golf Cart Market Size, By Value (USD Million), 2019–2029
- Table 57 Rest of APAC Golf Cart Market Size, By Fuel Type, By Value, 2019–2029
- Table 58 Rest of APAC Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029
- Table 59 Rest of APAC Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029
- Table 60 Rest of APAC Golf Cart Market Size, By Application, By Value, 2019–2029
- Table 61 Cruise Car Inc. Company Overview
- Table 62 Cruise Car Inc. Financial Overview
- Table 63 HDK Electric Vehicle Company Overview
- Table 64 HDK Electric Vehicle Financial Overview
- Table 65 Varley Group Company Overview
- Table 66 Varley Group Financial Overview
- Table 67 Polaris Industries Inc. Company Overview
- Table 68 Polaris Industries Inc. Financial Overview
- Table 69 Star EV Corporation Company Overview
- Table 70 Star EV Corporation Financial Overview
- Table 71 Yamaha Golf-Car Company Overview
- Table 72 Yamaha Golf-Car Company Financial Overview
- Table 73 Thai Summit Group Company Overview
- Table 74 Thai Summit Group Financial Overview
- Table 75 Karrior Electric Vehicles Company Overview
- Table 76 Karrior Electric Vehicles Financial Overview
- Table 77 Hawk Carts Company Overview
- Table 78 Hawk Carts Financial Overview
- Table 79 Tomberlin Company Overview
- Table 80 Tomberlin Financial Overview
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