The Asia-Pacific golf cart market is evaluated to develop with a CAGR of 6.04% over the estimated period of 2022 to 2030, capturing a revenue share of $560.07 million by 2030.

Key factors such as the fiscal and monetary policies, the growth in new constructions, primarily in the real estate and tourism industry, as well as the increase in demand from premium buyers are expected to present the regional market with lucrative growth opportunities. However, the Asia-Pacific golf cart market may be restrained due to declining golf members in various nations, including Japan.

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The Asia-Pacific golf cart market growth analysis covers the evaluation of China, Japan, South Korea, Indonesia, Vietnam, Thailand, India, Australia & New Zealand, and Rest of Asia-Pacific. With the rising interest in golf among the Chinese population, the sport is growing at a significant rate in China. As of 2021, the country had nearly 450 golf courses catering to the demand of golf players, with 100 more ranges under construction. Moreover, the demand for golf carts is anticipated to surge over the upcoming years as golf ranges expand across China. The nation is also a pioneer of electric vehicle battery technology, which is highly conducive to the production of electric golf carts.

On the other hand, Japan has the highest number of golf courses across the Asia-Pacific, with more than 2,500 courses as of 2021. The sport also enjoys tremendous popularity in Japan. The COVID-19 pandemic has further increased the demand for golf as well as leisure pursuits, consequently contributing to the sale of golf carts in the country. In this regard, bookings on golf course reservation websites increased by 12% in 2020 compared to the previous year. Since Japan is a well-developed Asian country, this factor enables governments to invest in golf carts for the purpose of tourism as well as other recreational activities. As a result, these factors are anticipated to fuel the 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 categorized 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, HDK Electric Vehicle, Garia, etc.

Marshell, headquartered in China, manufactures containers 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.

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