Golf Equipment Market, By Product (Golf Club, Golf Balls, Golf bags, Accessories Apparel, and Footwear), By Distribution Channel (Offline Retail Stores and Online Retail Stores), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Report Code: PMI394420 | Publish Date: May 2023 | No. of Pages: 168

Global Golf Equipment Market By Overview

Golf Equipment Market accounted for USD 11.9 Billion in 2024 and is estimated to be USD 18.1 Billion by 2034 and is anticipated to register a CAGR of 4.7%.

Golf equipment is used by golfer while playing golf sport. This equipment includes balls, clubs, gloves, shoes, club head covers, ball markers, ball mark repair tools, tees, and other aids such as golf bag and golf carts. Golf balls are made using hardwood such as beech. Whereas other more expensive golf balls are manufactured using down feathers stuffed leather skin.

Golf Equipment Market Report

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Global Golf Equipment Market By Drivers & Restraints

Rising demand for golf equipment among experts and unprofessional golfers is one of the major factor driving the growth of the golf equipment market. Also, growing consumer preference towards playing golf is propelling demand for golf equipment, which in turn is projected to propel the growth of the target market. Increasing spending on outdoor sports activities and rising disposable income is another factor expected to support the growth of the target market. A growing number of golf events globally and various golf clubs offering memberships are boosting demand for golf equipment, which in turn anticipated to augment the growth of the global market. Moreover, increasing penetration of Internet and smartphone is impelling the growth of online stores, due to the availability of easy payment modes and discounts offered by these stores. However, the high cost of golf equipment is a major factor expected to restrain the growth of the target market over the forecast period. Also, expensive membership fees of golf along with a lack of proper infrastructure for golf in the emerging countries is another factor hampering the growth of the target market. Nevertheless, the International Association of Golf Tour Operators (IAGTO) and the Golf Environment (GEO) are some of the international non-profit organizations that support and promote sustainability in golf tourism around the world. According to the International Association of Golfing Tour Operators (IAGTO) in 2017, the global golf tourism market worth US$ 17 billion.

Global Golf Equipment Market By Segmentations & Regional Insights

Golf equipment market is segmented based on the product, distribution channel, and region.

Based on product, the golf equipment market is segmented into a golf club, golf balls, and golf bags, accessories apparel, and footwear. Based on the distribution channel, the target market is classified into offline retail stores and online retail stores.

Regional Insights:

On the region, the golf equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America market estimated to register significant global market share, owing to growing consumer preference towards luxurious lifestyle. Also, the willingness to pay more for premium products and high disposable income are some other key factors projected to boost the growth of the target market. Asia Pacific golf equipment market is anticipated to witness considerable growth, owing to the growing middle class and upper-middle-class population, along with the increasing disposable income of the population in the countries in this region. Moreover, increasing adoption of golf as a sport among individuals in emerging countries such as India and China is another key factor projected to propel the demand for golf equipment over the forecast period. Markets in Latin America and Middle East and Africa are predicted to witness considerable growth shortly.

Golf Equipment Market, By Product:

  • Golf Club
  • Golf Balls
  • Golf bags
  • Accessories Apparel
  • Footwear

Golf Equipment Market, By Distribution Channel:

  • Offline Retail stores
  • Online Retail Stores

Golf Equipment Market, By Region:

  • North America
    • Middle East & Africa
      • Middle East & Africa Golf Equipment Market, By Product
      • Middle East & Africa Golf Equipment Market, By Distribution Channel
      • Middle East & Africa Golf Equipment Market, By Country
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa
    • Latin America
      • Latin America Golf Equipment Market, By Product
      • Latin America Golf Equipment Market, By Distribution Channel
      • Latin America Golf Equipment Market, By Country
        • Brazil
        • Mexico
        • Rest of Latin America
    • Asia Pacific
      • Asia Pacific Golf Equipment Market, By Product
      • Asia Pacific Golf Equipment Market, By Distribution Channel
      • Asia Pacific Golf Equipment Market, By Country
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific                                                                                                                                                                                           
    • Europe
      • Europe Golf Equipment Market, By Product
      • Europe Golf Equipment Market, By Distribution Channel
      • Europe Golf Equipment Market, By Country
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • North America Golf Equipment Market, By Product
    • North America Golf Equipment Market, By Distribution Channel
    • North America Golf Equipment Market, By Country
      • U.S.
      • Canada

Global Golf Equipment Market By Competitive Landscape & Key Players

The key players operating the golf equipment market Callaway Golf Company, Acushnet Holdings, Adidas Group, Sumitomo Rubber Industries, Nike Inc., Puma SE, Amer Sports, MIZUNO Corporation, Bridgestong Group, and Taylormade Golf Company Inc. Prominent players operating in the target market are focusing on strategic partnerships as well as the launching of the types to gain a competitive edge in the target market. For instance, in January 2018, Acushnet Holdings Corp. acquired Links & Kings. This acquisition is projected to bring exceptional golf-inspired leather goods and creative design capabilities to Acushnet, to extend its product portfolio.

Global Golf Equipment Market By Company Profile

  • Callaway Golf Company
  • Acushnet Holdings
  • Adidas Group
  • Sumitomo Rubber Industries
  • Nike, Inc.
  • Puma SE
  • Amer Sports
  • MIZUNO Corporation
  • Bridgestong Group
  • Taylormade Golf Company, Inc.

FAQs

The Global Golf Equipment market is segmented into basis of product, distribution channel, and region.

Rising demand for golf equipment among experts and unprofessional golfers is one of the major factor driving the growth of the global golf equipment market.

By region, North America market estimated to register significant global market share, owing to growing consumer preference towards luxurious lifestyle.

The Key players operating in the global Golf Equipment market include Callaway Golf Company, Acushnet Holdings, Adidas Group, Sumitomo Rubber Industries, Nike Inc., Puma SE, Amer Sports, MIZUNO Corporation, Bridgestong Group, and Taylormade Golf Company Inc.