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Report
Vietnam Golf Cart Market Forecast 2024-2032
Market Report I 2024-05-20 I 129 Pages I Inkwood Research
KEY FINDINGS
The Vietnam golf cart market is estimated to progress with a CAGR of 6.80% across the forecasting period. The base year considered for the market studied is 2023 and the forecast years are from 2024 to 2032. The market growth of the country is mainly attributable to the rise in golf tourism, in addition to the increasing number of golf players.
MARKET INSIGHTS
In recent years, foreign investors have been increasingly involved in golf course projects in Vietnam, with Korean investors emerging as the most active participants. Furthermore, according to the Vietnam National Administration of Tourism, Vietnam's primary golf tourism market is centered in South Korea. For example, in early 2022, MDA E&C Ltd, a Korean-owned corporation specializing in civil engineering and construction, proposed the development of a golf course and eco-resort project named Glory in the northern province of Thai Nguyen, specifically in Pho Yen town.
Similarly, in March 2022, D&N Group announced plans to invest nearly VND6,000 billion or $258 million in a 600-hectare urban resort and golf course complex project in central Vietnam, situated within Ha Tinh province. Consequently, these developments are expected to drive the growth of the golf cart market in Vietnam throughout the forecast period.
COMPETITIVE INSIGHTS
Some of the leading players operating in the market include Thai Summit Group, Club Car, E-Z-Go (Acquired by Textron Inc), etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. COUNTRY SNAPSHOT - VIETNAM
2.3. COUNTRY ANALYSIS - VIETNAM
2.4. SCOPE OF STUDY
2.5. CRISIS SCENARIO ANALYSIS
2.5.1. IMPACT OF COVID-19 ON GOLF CART MARKET
2.6. MAJOR MARKET FINDINGS
2.6.1. RISE OF MULTI-PURPOSE FUNCTIONALITY OF GOLF CARTS
2.6.2. GROWING FOCUS ON SAFETY FEATURES
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. EXPANSION OF THE GOLFING INDUSTRY
3.1.2. SHIFT TOWARDS ELECTRIC GOLF CARTS TO REDUCE EMISSIONS
3.1.3. SURGE IN GOLF TOURISM
3.2. KEY RESTRAINTS
3.2.1. HIGH COST OF GOLF MEMBERSHIP AND CARTS
3.2.2. LEGAL LIMITATIONS AND REGULATORY CONSTRAINTS REGARDING GOLF CARTS
3.2.3. AVAILABILITY OF ALTERNATE TRANSPORTATION SOLUTIONS
4. KEY ANALYTICS
4.1. KEY MARKET TRENDS
4.1.1. RISING PREFERENCE FOR ECO-FRIENDLY GOLF CART OPTIONS
4.1.2. INTEGRATION OF SMART TECHNOLOGY IN GOLF CARTS
4.1.3. INCREASING POPULARITY OF RENTAL AND SHARED MOBILITY SERVICES
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1. BUYERS POWER
4.2.2. SUPPLIERS POWER
4.2.3. SUBSTITUTIONS
4.2.4. NEW ENTRANTS
4.2.5. INDUSTRY RIVALRY
4.3. GROWTH PROSPECT MAPPING
4.4. VALUE CHAIN ANALYSIS
4.4.1. RAW MATERIALS
4.4.2. MANUFACTURERS
4.4.3. DISTRIBUTION
4.4.4. END-USERS
4.5. KEY BUYING CRITERIA
4.5.1. BATTERY LIFE
4.5.2. PERFORMANCE AND SPEED
4.5.3. ERGONOMICS
4.5.4. STORAGE CAPACITY
5. MARKET BY SEATING CAPACITY
5.1. ONE-TO-FOUR-SEATER
5.2. ABOVE-FIVE-SEATER
6. MARKET BY VEHICLE TYPE
6.1. GAS GOLF CART
6.2. ELECTRIC GOLF CART
6.3. SOLAR GOLF CART
7. MARKET BY END-USER
7.1. GOLF AND RECREATION
7.2. COMMERCIAL USAGE
7.3. PERSONAL USAGE
8. COMPETITIVE LANDSCAPE
8.1. KEY STRATEGIC DEVELOPMENTS
8.1.1. MERGERS & ACQUISITIONS
8.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
8.1.3. PARTNERSHIPS & AGREEMENTS
8.1.4. BUSINESS EXPANSIONS
8.2. COMPANY PROFILES
8.2.1. CLUB CAR
8.2.1.1. COMPANY OVERVIEW
8.2.1.2. PRODUCT LIST
8.2.1.3. STRENGTHS & CHALLENGES
8.2.2. E-Z-GO (ACQUIRED BY TEXTRON INC)
8.2.2.1. COMPANY OVERVIEW
8.2.2.2. PRODUCT LIST
8.2.2.3. STRENGTHS & CHALLENGES
8.2.3. THAI SUMMIT GROUP
8.2.3.1. COMPANY OVERVIEW
8.2.3.2. PRODUCT LIST
8.2.3.3. STRENGTHS & CHALLENGES
8.2.4. MARSHELL ELECTRIC VEHICLE CO LTD
8.2.4.1. COMPANY OVERVIEW
8.2.4.2. PRODUCT LIST
8.2.4.3. STRENGTHS & CHALLENGES
8.2.5. YAMAHA GOLF-CAR COMPANY
8.2.5.1. COMPANY OVERVIEW
8.2.5.2. PRODUCT LIST
8.2.5.3. STRENGTHS & CHALLENGES
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - GOLF CART
TABLE 2: VIETNAM GOLF CART MARKET, BY SEATING CAPACITY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 3: VIETNAM GOLF CART MARKET, BY SEATING CAPACITY, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 4: VIETNAM GOLF CART MARKET, BY VEHICLE TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 5: VIETNAM GOLF CART MARKET, BY VEHICLE TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 6: VIETNAM GOLF CART MARKET, BY END-USER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 7: VIETNAM GOLF CART MARKET, BY END-USER, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 8: LIST OF MERGERS & ACQUISITIONS
TABLE 9: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 10: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 11: LIST OF BUSINESS EXPANSIONS
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING
FIGURE 4: VALUE CHAIN ANALYSIS
FIGURE 5: KEY BUYING CRITERIA
FIGURE 6: VIETNAM GOLF CART MARKET, GROWTH POTENTIAL, BY SEATING CAPACITY, IN 2023
FIGURE 7: VIETNAM GOLF CART MARKET, BY ONE-TO-FOUR-SEATER, 2024-2032 (IN $ MILLION)
FIGURE 8: VIETNAM GOLF CART MARKET, BY ABOVE-FIVE-SEATER, 2024-2032 (IN $ MILLION)
FIGURE 9: VIETNAM GOLF CART MARKET, GROWTH POTENTIAL, BY VEHICLE TYPE, IN 2023
FIGURE 10: VIETNAM GOLF CART MARKET, BY GAS GOLF CART, 2024-2032 (IN $ MILLION)
FIGURE 11: VIETNAM GOLF CART MARKET, BY ELECTRIC GOLF CART, 2024-2032 (IN $ MILLION)
FIGURE 12: VIETNAM GOLF CART MARKET, BY SOLAR GOLF CART, 2024-2032 (IN $ MILLION)
FIGURE 13: VIETNAM GOLF CART MARKET, GROWTH POTENTIAL, BY END-USER, IN 2023
FIGURE 14: VIETNAM GOLF CART MARKET, BY GOLF AND RECREATION, 2024-2032 (IN $ MILLION)
FIGURE 15: VIETNAM GOLF CART MARKET, BY COMMERCIAL USAGE, 2024-2032 (IN $ MILLION)
FIGURE 16: VIETNAM GOLF CART MARKET, BY PERSONAL USAGE, 2024-2032 (IN $ MILLION)
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