In 2022, the golf equipment market recorded a revenue of US$ 14,751.2 million, as reported by Persistence Market Research. The demand for sleeve labels is anticipated to surge, and leading market players are poised to maintain a significant market share in 2022. Projections indicate that the global golf equipment market is poised to reach US$ 18,854.1 million by 2033, exhibiting a compound annual growth rate (CAGR) of approximately 2.3% from 2023 to 2033.
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Key Takeaways of Global Golf Equipment Market Study
- According to the report, the global golf equipment market represents a fairly consolidated landscape, where a majority of key players are maintaining their strategic focus on product development, new product launches, and mergers & acquisitions. The global golf equipment market is dominated by a few major players such as Acushnet Holdings Corp., Callaway Golf Company, and TaylorMade Golf Company, Inc.
- PMR identifies North America as the largest market for golf equipment in 2019, followed by East Asia. The golf equipment market in the region is also driven by the number of courses and high number of golfers, which are higher in North America as compared to other regions.
- Based on product, golf clubs hold the highest value share in the golf equipment market. Irons, drivers, and putters are the most preferred golf clubs, which hold around 80% of the golf clubs segment.
- Online stores are projected to be the highest growth contributors to the golf equipment market during the forecast period, on account of easy product availability, lower prices as compared to physical channels, ability to compare products, and doorstep delivery. At present, specialty stores/ sports chain outlets under the offline segment holds most of the market.
“Advancements in golf equipment technology such as smart sensors, smart grips, club customization, and smart golf balls help manufacturers introduce consumer-driven products. Increasing consumer spending on golf equipment and accessories creates new opportunities for manufacturers to target a larger consumer base,” says a PMR analyst.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2032 – By Product Type, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa): https://www.persistencemarketresearch.com/market-research/golf-equipment-market.asp
Surge in Female Participation Gaining Traction
Increasing number of female participation in sports have been noticed in the recent past, and the same is true for golf. Significant participation has been observed in countries such as the U.S., the U.K., Japan, and Korea. This factor is expected to further drive the golf equipment market during the forecast.
PMR’s report underlines groundbreaking insights into the competitive scenario of the golf equipment market, along with highlights of differential strategies used by manufacturers. Some of the key players identified across the value chain of the global golf equipment market include
- Acushnet Holdings Corp.
- Callaway Golf Company
- Sumitomo Rubber Industries, Ltd
- MIZUNO Corporation
- Bridgestone Sports Co Ltd
- Amer Sports Corporation
- TaylorMade Golf Company, Inc
- Adidas AG
- Puma SE
- Nike, Inc
- Bettinardi Golf
- Cure Putters
- Miura Golf Inc
- Yamaha Golf
Know More about Golf Equipment Market Report Inclusions
Persistence Market Research published a new market report on the golf equipment market, covering global industry analysis of 2014-2018 and forecasts for 2019-2029. This report on the golf equipment market provides compelling insights on the basis of product (golf clubs, golf balls, golf apparel, footwear, and accessories), end user (amateurs and professionals), and sales channel (direct and indirect [modern trade, exclusive stores, specialty stores/ sports chain outlets, on course outlets, and online retailers), across seven regions.
By Product Type
- Golf Club
- Golf Ball
- Golf Apparel
- Golf Footwear
By End Use
By Distribution Channel
- Modern Trade
- Exclusive Stores
- Specialty Stores
- Sports Chain Outlets
- Online Retailers
- North America
- Latin America
- East Asia
- South Asia
- Middle East Africa
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Marketwise Analytics journalist was involved in the writing and production of this article.