An outlook on the growing Indian Golf Cart Market and how Saera Electric Auto plays a key role in driving the trends owing to the significant rise in demand.
As per a report published by Future Market Insights (FMI) in 2022, the golf cart market is expected to gain impetus in 2022-2032. According to FMI, the market valued at US$ 1.34 billion in 2022 is going to increase to US$ 2.12 billion in 2032. The golf cart market is anticipated to expand at a CAGR of 3.9% over the course of this projected period. As per the analysis by FMI, the USA, the UK, and China are predicted to be the most lucrative markets for golf cart sales. The presence of a great number of golf cart companies will fuel the growth of golf carts in the USA.
The growth recorded in construction activities and infrastructural development in the UK is cited to boost the market for golf carts. The remarkable growth in the automotive industry will drive the accelerating sales of electric golf carts in the UK. At the same time, the growing population and technological advancements are the major drivers of market growth in China. Another country which has registered splendid growth in the electric golf cart buggy market is India. India has emerged as one of the strongest players and a highly lucrative market for golf carts in the past couple of years. As per another market research report, the Indian Golf Cart Market is predicted to expand at a CAGR of 21.8% during 2022-2030. Furthermore, the ‘Make in India’ campaign is anticipated to create a conducive environment for the production of electric golf buggies. Furthermore, it is projected that the advent of lithium polymer batteries and lithium-ion batteries will bode well for the Indian golf cart market.
In the Indian Golf Cart Market, as per the Product Type segment, the electric golf cart segment dominated the global market in 2021 with a 98.2% share in terms of value. The Golf Cart Market in India was valued at US$ 17.3 Million in 2021 and is predicted to grow and reach US$ 100.5 Million by 2023. That means it will grow at a CAGR of 21.8% between 2022 and 2030.
Market Drivers for Golf Carts:
The demand for golf cart buggies in the Indian market is fueled by urbanisation. The country has witnessed rapid urbanisation over the course of the last two decades. The World Bank claims that more than 33% of the Indian population resided in urban areas in 2015 compared to 18% in 1965. Rapid urbanisation, along with increasing industrialisation, has pushed for a boost in mall culture, hi-tech, amusement and theme parks, and smart housing projects. This type of development is forecasted to expedite the demand for internal transportation to carry people and goods. In addition to this, golf carts are becoming a significant part of industries for internal transportation. Therefore, rapid urbanisation and industrialisation are anticipated to spruce up the market’s growth during the forecast period.
Golf carts are battery-powered vehicles which come with a simple build design and a maximum speed of up to 31 km/h. Consequently, unlike electric rickshaw cargo, golf carts have taken over as people’s preferred mode of transportation in public spaces, including tourist attractions, railroad stations, and airports. Also, golf carts are simple to drive and don’t need to be operated by skilled personnel. Besides this, golf carts fall under the category of electric vehicles, which are typically not considered to be motor vehicles and have a power output of less than 250 W. Thus, golf carts in India are not subject to any transportation laws. Lenient government restrictions and simple golf cart manufacturing are predicted to propel growth in India’s golf cart market over the forecast period.
Another major factor that has led to a recent shift towards golf carts from the top electric vehicle company is the use of more sustainable energy sources. In the past couple of years, electric golf carts have outpaced conventional gas-powered vehicles by a wide margin. Moreover, the recent surge in gasoline costs has made the use of electric golf carts produced by top electric golf buggy manufacturers much more practical.
Market Trends:
Increasing inclination towards custom-made golf carts ( growing preference for custom golf carts)
One of the recent trends observed in the golf cart market in India is the rise in demand for customisation by end users regarding seating capacity and vehicle aesthetics. To leverage this opportunity, electric golf cart manufacturers in India have expanded their horizons and are offering customised solutions as per end-use applications. Right now, vintage, luxury and outdoor catering carts are in high demand in India. Rental services, hotels & resorts, and amusement parks are a few major end users who have a great demand for customisation.
A rise in the number of golf cart rental services
Electric golf carts are becoming a popular means of internal transportation, which has led to an increase in the adoption of various events, including symposiums, exposes, exhibitions, trade shows, and weddings. However, the requirement for golf cart buggies in such events is restricted to some days or weeks, and most end users opt for rental services in these cases. Furthermore, event management firms prefer golf cart rentals to meet their internal transportation requirements.
Saera Electric Auto: Your Destination for the best Electric Golf Cart!
One of the key players in the electric vehicle industry in India, Saera Electric Auto Private Limited (SEAPL), has exhibited its expertise by unveiling its new product, Electric Golf Cart, in the market. Saera Golf Cart is a brand-new addition to the current line of our electric-vehicle range. Our golf cart comes in a monocoque frame in combination with bucket seats offering maximum comfort, an AC drive that does not require maintenance, and cabin lights. It also comprises LED headlamps and tail lamps coming with inbuilt indicators and DRL, which makes our golf cart stand out in the Indian market. Additionally, our electric golf cart also features 10-inch all-terrain tires and MacPherson suspension designed for a smooth ride. At Saera Electric Auto, as one of the best golf cart manufacturers in India, we also lay a strong emphasis on safety, which is why we have also introduced hydraulic brakes, a digital speedometer with a service alert, and an auto lifter brake pedal to ensure the safety of the riders. Get in touch with us to learn more about our products.