The golf cart market has seen huge growth in the last 3 years.

But which 10 golf cart brands and manufucturers are the biggest in the world?

We have tried to answer this question based on revenue numbers, production numbers and import data.

Please note that this list is based on estimates.

If you want to check out a complete list of all golf cart brands and manufacturers in the world you can check out this link.

 

1. Club Car

In 2021 Club Car was bought by Platinum Equity from the public company Ingersoll Rand for 1.7 Billion USD.

The last known Club Car revenue numbers date from 2020, when it was 840 Million USD.

We assume that that revenue number has increased since then and that therefore Club Car is still the biggest golf cart manufacturer in the world based on revenue.

 

2. E-Z-GO (and Cushman)

E-Z-GO and Cushman are part of Specialized Vehicle segment of the public company Textron.

Unfortunately they don’t show specific E-Z-GO and Cushman revenue numbers in their finaincial reports, but only for Specialized Vehicles as a business unit. The revenue of Specialized Vehicles was almost 1.7 Billion in 2022.

But a E-Z-GO recall alert from februari 2023 shows that in 2021, 2022 and the first two months of 2023 at least 143.000 E-Z-GO vehicles were manufactured. That is probably not more units than Club Car, but more than the rest. 

3. Yamaha

Yamaha is also a listed public company. And in this case we know that in 2022 Yamaha build 44.000 golf carts and had a revenue of around 350 million USD.

 

4. Lvtong

Lvtong Logo

Lvtong is golf cart manufacturer that is a listed company in China. In Lvtong 2022 it had a revenue of around 205 million USD.

Lvtong manufacturers for ICON EV, Advanced EV and Eco Planeta.

 

 5. Kandi

Kandi is China based manufacturer and registered on the NASDAQ. In 2022 Kandi reported a revenue of 117 million USD.

 

6. Evolution

Evolution is a China based golf cart manufacturer. Based on US import data we estimate that they are number 6.

 

7. Excar

Excar Logo

Based on import data to the USA we estimate that Excar is number 7 of biggest golf cart manufacturers. They operate from Dongguan China.

They manufactur golf carts for Bintelli and Atlas.

 

8. Marshell

Marshell Logo

Marshell is also a China based manufacturer. Based on import data from the US, we estimate they are number 8.

Marshell manufacturers for STAR EV and EPIC.

 

9. Eagle

Eagle EV Logo

Eagle is a China based golf cart manufacturer. Based on import data in the US, we estimate that they are number 9.

They manufacturer golf carts for companies like STAR EV and Moto Electric Vehicles.

 

10. Aoxiang

 

AOXIANG Logo 

Aoxiang is a China based golf cart manufacturer. Based on our estimates and import data in the US, we think they are the number 10 manufacturer in the world.

Aoxiang has produced golf carts for Royal EV and Vivid EV.

 

 

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