Golf Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Golf Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

  • Transparency Market Research
  • Ongoing
  • Sports Equipment

Report Description

Golf equipment includes various items, which are used to play the sport of golf. These include golf balls, shoes, bags, golf gloves, golf gear, and golf wear, club, club head cover, cart, towels, tees, ball markers, wedges, putters, and other devices that help golfers in various ways. The target market for golf equipment is skill based dedicated golfers, as these golfers are the most consistent purchasers of golf equipment. Among golf equipment, the golf ball is the most important, as it is used by every player in every shot. There are a variety of golf clubs available such as wood, hybrids, fairways, and iron. To know which golf club to use for a particular shot, a golfer needs to know the average distance of hitting a ball with each golf club in the set. The distance varies with each type of golf club.

Growing popularity of golf across the world amongst older people and spur in golf tourism is driving the growth of the golf equipment market. The physical activity that golf provides is expected to be helpful. Furthermore, among golfers, mental and physical well being, together with improved performance and socializing are common motivations for playing the sport. There is a spur in golf tourism mainly due to the growing number of golf courses across the world, and increasing popularity of golf tournaments. Various countries are taking initiatives to drive golf tourism in their region. For instance, the tourism minister in India announced that the government would support efforts to entice more foreign golfers to the country’s approximately 220 golf courses.

The declining number of golfers across the world might hamper the growth of the golf equipment market. According to the National Golf Foundation (NGF) the players who played golf on an actual golf course in 2016 fell by a significant number compared to 2015. However, the NGF reported the number of golfers who are beginners increased to a significant extent over 2015. Furthermore, the NGF reported that the number of dedicated golfers also grew in numbers. Dedicated golfers include those who call golf one of their several recreational pursuits or a favorite activity.

Technology advancement in golf clubs and balls is expected to bring novel opportunity for the golf equipment market. Technologically advanced golf clubs and balls allow golfers to hit the ball at a much larger distance with ease. For instance, the company named Bridgestone introduced technically advanced e6 ball series. The e6 series ball has multiple layers that provide low spin on full shots and a sharp angle on short ones.

Golf equipment is segmented on the basis of product type and region. By product type, the market is classified as golf balls, clubs, shoes, and others. Golf balls are further bifurcated into practice balls, advanced balls, and others. Further, golf clubs are further bifurcated into iron, hybrid, wood, and others.

Geographically, the golf equipment market can be segmented into North America, Europe, Middle East & Africa, Asia Pacific, and South America. North America and Europe are expected to lead the golf equipment market owing to the presence of established golf equipment manufacturers. However, the growing popularity of the golf across countries such as India and China is expected to propel the growth of the golf equipment market in Asia Pacific.

Some of the key players in the golf equipment market are Acushnet Company, Amer Sports, Callway Golf Company, Dixon Golf, Inc., Roger Cleveland Golf Company, Inc., Fila Golf, Golfsmith International Holdings Inc., True Temper, Cobragolf.com, and TaylorMade Golf Company, Inc.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market 

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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