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Vietnam Golf Cart Market Forecast 2022-2028

KEY FINDINGS

The Vietnam golf cart market is estimated to progress with a CAGR of 7.28% across the forecasting period. The base year considered for the market studied is 2021 and the forecast years are from 2022 to 2028. 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

Foreign investors have been returning to golf course projects in Vietnam over recent years, with Korean investors deemed the most active. Moreover, as per the Vietnam National Administration of Tourism, Vietnam's major golf tourism market is concentrated in South Korea.

For instance, in early 2022, MDA E&C Ltd, a 100% Korean-owned corporation that specializes in civil engineering as well as construction, proposed the green light for a golf course and an eco-resort project named Glory in the northern province of Thai Nguyen, Pho Yen town. Likewise, in March 2022, D&N Group disclosed its intention to invest nearly VND6,000 billion or $258 million in a 600-hectare urban resort and golf course complex project in central Vietnam, within Ha Tinh province. Therefore, these factors are anticipated to fuel the golf cart market growth in Vietnam during the forecast period.

COMPETITIVE INSIGHTS

Some of the leading players operating in the market are Polaris Industries Inc, Club Car, Garia, etc.

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Vietnam Golf Cart Market Forecast 2022-2028
Published By :Inkwood Research
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