Golf Equipment Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032, Segmented By Product Type (Clubs, Balls, Shoes, Others (Apparels, Bags etc.)), By Distribution Channel (Sports Goods Retailers, Exclusive Stores, Specialty Stores, Online and Others (Direct Sales, Distributors etc.)), By Region, Competition
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGolf Equipment Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032, Segmented By Product Type (Clubs, Balls, Shoes, Others (Apparels, Bags etc.)), By Distribution Channel (Sports Goods Retailers, Exclusive Stores, Specialty Stores, Online and Others (Direct Sales, Distributors etc.)), By Region, Competition
The global golf equipment market size is anticipated to project robust growth during the forecast period owing to the rising interest of youngsters in golf and the growing standard of living, new product launches, are few of the factors which are expected to drive the global golf market throughout the forecast period.
Golf is a popular sport among corporate executives since it is utilized to offer and close business deals. Golf equipment comprises numerous items required to play golf and is also critical in providing the player with an enhanced experience. Golf equipment includes golf clubs, balls, shoes, and various aids such as apparel and bags. The primary reasons driving the golf equipment industry include rising consumer disposable income, an increase in professional and amateur female golfers, and an increase in golf tourism due to the establishment of golf courses around the world.
In 2021, The National Golf Foundation found that out of 251 countries and dependent territories, golf is now played in 206 of them. There are more than 38,000 golf courses in the world, located in about 82 percent of the countries. With 80% of the courses located in the top 10 countries with the highest production, golf is broadly distributed but remains highly concentrated. With more than 16,000 courses, the U.S. hosts 42% of all courses worldwide, followed by Japan (3,140) and the United Kingdom (3,101). Thus, with the increase in popularity of golf around the world, the sales of golf equipment will grow significantly.
The golf equipment market growth is influenced by various factors such as increase in the manufacturing of superlight clubs for golfers with slower swing speed. These ultralight clubs are designed to meet the demand for lighter clubs that cover larger distance and that can be swung more quickly.
Some of the examples of superlight clubs of golf equipment industry are Callaway’s Epic Star line and Cobra Golf’s F-Max series
Rising Popularity of Golf Tourism Will Fuel the Market Growth
Golf tourism refers to visits taken by people to play golf. Over the last five years, New Zealand has received approximately 300,000 golf tourists, as the country has more golf courses than other countries worldwide. According to the International Association of Golf Tour Operators (IAGTO), the United States is the most significant market for golf as a sport. Asia and the Middle East are experiencing the most vital growth rates worldwide in golf tourism. Increased infrastructure investments drive the golf sector's rise to support the game.
Increasing
Growing Standards of Living of Middle-Class Population Will Fuels the Market Growth
As the middle-class population's income rises above necessities, they will have more money to spend on goods and services and leisure activities to improve their lives. As a result of the growing middle-class population, the consumer base of the golf equipment market share is expected to expand. The purchasing power of people in middle-income groups has increased due to economic expansion. The middle-class population in industrialized economies such as the United States, Japan, and Europe is predicted to expand at a 0.5% yearly rate compared to developing economies such as China and India, which are expected to grow at a 6% or higher annual rate. As a result of which, the demand for golf equipment is expected to rise from middle class population during the future years.
Expensive Golf Membership Will Hinder The Market Growth
New Product Launches Will Boost The Market Growth
Companies are launching various products to capture the market. The best golf equipment companies, like Acushnet's (GOLF)
Another launch consists of The Callaway's Paradym Drivers (golf club), with its Triaxial Carbon crown and Forged Carbon sole that are 44% lighter than a titanium chassis, eliminates titanium from the club's body to promote exceptional weight distribution for maximum distance. Thus, with new product launches with various features will helps in expanding the market growth.
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Market Segmentation
The golf equipment market is segmented based on product type and distribution channel. Based on product type, the market is segmented into clubs, balls, shoes, others (apparels, bags etc.). Based on distribution channels, the market is fragmented into sports goods retailers, exclusive retailers, specialty retailers, online and others (direct sales, distributors etc.). On the basis of region the market is divided into North America, Europe, Asia-Pacific, Middle-east & Africa and South America.
Company Profiles
Callaway Golf Co., Acushnet Holdings Corp.,
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Product Type · Distribution Channel · Region |
| Regional Scope | North America, Europe, Asia-Pacific, Middle East & Africa, and South America |
| Country Scope | United States, Canada, Mexico, Germany, France, United Kingdom, Italy, Spain, China, India, Japan, South Korea, Indonesia, Saudi Arabia, UAE, South Africa, Turkey, Brazil, Argentina, Colombia |
| Key Companies Profiled | Callaway Golf Co., Acushnet Holdings Corp., TaylorMade Golf Co., Mizuno USA, Inc., Wilson Sporting Goods Co., PING, Inc., Bettinardi Golf, Sumitomo Rubber Industries, Ltd., Mizuno Corporation, and Amer Sports Corporation |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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