ASIA-PACIFIC GOLF CART MARKET FORECAST 2024-2032

The Asia-Pacific golf cart market growth analysis covers a detailed evaluation of China, Japan, South Korea, Indonesia, Vietnam, Thailand, India, Australia & New Zealand, and Rest of Asia-Pacific. As the interest in golf continues to rise among the Chinese population, the sport is experiencing significant growth in China. In 2022, the country boasted more than 450 golf courses, with an additional 100 ranges under construction to meet the demand. This expansion is expected to drive up the demand for golf carts in the coming years as the sport spreads across China. Notably, China’s leadership in electric vehicle battery technology further positions it favorably for the production of electric golf carts.

Meanwhile, Japan stands out in the Asia-Pacific region with the highest number of golf courses, surpassing 2,500 as of 2023. Golf enjoys widespread popularity in Japan, a trend further amplified by the COVID-19 pandemic, which spurred increased interest in leisure activities like golf. Consequently, the sale of golf carts in Japan has seen an upsurge. In fact, bookings on golf course reservation platforms surged by a significant rate, compared to the previous years. The nation’s advanced development status also allows for government investment in golf carts for tourism and recreational purposes, further propelling market growth in the Asia-Pacific over the forecast period.

The Asia-Pacific golf cart market is segmented into seating capacity, end-user, and vehicle type. The vehicle type category is further classified into gas golf cart, electric golf cart, and solar golf cart. Golf carts with gas engines are fuelled by gasoline- and diesel-powered motors. Regular gas, including those utilized in trucks and cars, is primarily used for gas golf carts. Also, gasoline golf carts emit carbon dioxide and operate on regular fuel. Some of the top players manufacturing and selling gas-powered golf carts are E-Z- Go, Yamaha, and Club Car. 

Electric golf carts function on electricity as the primary power source. One of the main aspects influencing the sale of electric golf carts is the assurance of a clean energy resource. Although electric golf carts are more expensive with fewer models, they offer the maneuverability of a gas-powered mower as well as the environmental friendliness of an electric cart.

Key players operating in the Asia-Pacific golf cart market are Yamaha Golf-Car Corporation, Marshell Electric Vehicle Co Ltd, HDK Electric Vehicle, etc.

Marshell Electric Vehicle Co Ltd, headquartered in China, manufactures container electric vehicles, including golf carts, hunting carts, sightseeing buses, low-speed vehicles, utility vehicles, mobility scooters, electric forklifts, vintage carts, cleaning vehicles, electric pallet trucks, electric stackers, and others. The company’s 2-seater Electric Golf Cart DG-M2 has a climbing capacity of 20%, with a maximum speed of 20km/hr.