1. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Global Golf Cart Market To Register Significant Gains Over 2019-2025: Global Market Insights Inc.

2. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  Golf cart market from Electric and solar powered segment will witness strong growth with zero emission, low operation cost and negligible noise. Ongoing initiatives to support adaption of electric vehicles will drive the vehicle demand. The vehicle manufacturers are reducing battery cost to ensure low cost of ownership. Golf cart market  Growing demand for low maintenance and economic vehicles for short distances will induce significant growth potential in the golf cart market. The carts have smaller engines and motors that significantly reduces the energy and fuel requirement. The vehicles require smaller turning radius enabling easy parking and superior maneuverability.  According to the National Golf Foundation, in the U.S., there are around 6.1 million on-course participants and 4.1 million off-course only participants among the young adults in the age group of 18-34 years. The number of golfers aging 65 or more have increased almost by 17% to 4.2 million in 2018. Golf has become more accessible than ever in the U.S., with 75% of facilities open to the public including 2,515 municipal, 8,390 daily fee and 3,708 private golf facilities. Rising number of people engaged in this game is positively impacting the revenue share of the U.S. golf cart market. Industry Overview

3. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  Emerging requirement of electric vehicles to control emissions and adhere to government norms is also impelling innovations in the golf cart market. Recently, a news snippet about a group of computer engineering students at Cedarville University made it to the front page. The group was working on the advancements of the autonomous golf car to launch a cost-effective autonomous golf cart. The project will cost around and $1,500 for software and hardware and approximately $2,000 to purchase an old golf cart to make the robotic car. This proves that golf cart market will be driven by such innovations in the coming years.  Another innovative product was introduced by one of the golf car manufacturers Garia at the 88th International Geneva Motor Show 2018 where it depicted the world premiere of Golf Car inspired by Mercedes-Benz Style. This hi-tech golf car is equipped with Bluetooth, speakers and other facilities, making it fully digitized. This leading technology and pure luxury golf cart has standardized the golf mobility at next level and will help upsurge golf cart market growth. Continue…

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5. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com U.S. Golf Cart Market, By Application, 2018 & 2025, (USD Million)

6. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  Development of golf carts equipped with digital facilities by golf cart manufacturers to fulfil the modern demands of the customers is now increasingly on the rise. The population worldwide is also spending considerable capital on vacations to luxury resorts to take a break from hectic work schedules, further spurring product demand. Government mandates to reduce carbon footprints and conserve the environment will also help augment golf cart industry share in the ensuing years.  North America led by the U.S. dominates the industry size with vast presence of supporting facilities. Over 50% of the courses are in the region. Further, over 25% of the under- development courses are in the U.S.  Major golf cart market participants include: Textron, Ingersoll, Yamaha, Hitachi, Garia, Columbia Vehicle, Gdrive, Speedways Electric, Marshall Green, Dongguan Excellence Golf & Sightseeing Car, Tianjin Zhongyi Electric Vehicle, and Autopower. Continue…

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