Vietnam is anticipated to emerge as the fastest-growing nation in the global golf cart market. According to Nguyen Hoang Minh, the Director-General of Vietnam Golf Services (VGS) Corporation, Vietnam witnessed a significant rise in its golf player base from nearly 26,000 between 2019 to 2020 to approximately 51,000 in 2022, accounting for about 90% of the actual figures.

Moreover, there has been a resurgence of foreign investment in golf course projects in recent years, with Korean investors leading the fray. Notably, as per the Vietnam National Administration of Tourism, South Korea constitutes a major market for golf tourism in the country. Consequently, these factors are set to exert a substantial influence on the growth trajectory of the golf cart market in Vietnam during the forecast period.

The Vietnam golf cart market is segmented into seating capacity, end-user, and vehicle type. The end-user category is further classified into golf and recreation, commercial usage, and personal usage. Personal usage of golf carts refers to individuals purchasing these vehicles for their own use within private land ownership. Since several high-net individuals have expansive space and properties, the need for golf carts has become critical, primarily as a source of transportation. 

In terms of personal services, the golf cart market has gained substantial traction in rural areas as well as towns of developed nations for quick transportation from one place to another.

Conversely, golf carts or low-utility vehicles used for commercial purposes have core specifications such as power sources, passenger capacity, as well as other features. While gas engines power golf carts utilized in industries for the transportation of two to four passengers, electric motor golf carts are used for general transportation around manufacturing industries and refineries. 

Some of the top companies operating in the Vietnam golf cart market include Club Car, Thai Summit Group, E-Z-Go (Acquired by Textron Inc), etc.

The Thai Summit Group engages in a diverse range of activities, spanning automotive metal forming, interior and exterior plastics manufacturing, motorcycle structures, wiring components and systems, electrical modules, die casting and forging, precision machining, frame and chassis production, Ogihara-world class outer skin panel die manufacturing, aluminum and high tensile material stamping, and Cario electric golf carts. The company is centrally headquartered in Bangplee, Samut Prakarn, Thailand.