Golf Equipment Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, 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

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Summary

Report Description

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 popularity of golf is increasing at a fast rate. For instance, golf presently generates approximately USD20 billion per year and by itself or as a secondary incentive, can attract millions of vacationers worldwide. Golf is played by around 56 million people worldwide, with 26.7 million in the United States, 5.5 million in Europe, 5 million in Canada, 14 million in Japan, and 3.8 million in the United Kingdom. About 5 to 10% go around the world solely to play golf. This figure has progressively increased over the years as more countries see golf tourism as a valuable source of foreign cash.

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. Callaway has adopted the Great Big Bertha Epic Star Driver (Golf Club) as their alternative selling golf equipment. It weighs 286 gm vs the popular Epic Driver from the previous year, which weighed 310 gm. An extra 15 yards can be produced with a relatively small five mph increase in swing speed. Cobra's strategy involves using a very light shaft with a head that has been reduced in weight, while the center of gravity has been placed to fight a slice and hit the ball on a higher trajectory. Notably, the F-Max Driver and irons are priced at the bottom of the range at USD300 each.

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 Number of Female Professional And Amateur Golfers Will Fuel the Market Growth

The revolution in women's golf has significantly expanded the global golf market due to increased female interest in the sport over the last decade. According to the National Golf Foundation, women account for more than 19% of all golfers worldwide, with New Zealand accounting for 25% of all female golf tourists. Golf is becoming more popular in Asia-Pacific region. Women in China, for example, prefer to spend their spare time golfing.

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

Golf is not popular among the middle class because of the high prices of club memberships and courses, stifling market expansion. For example, the average fee for an 18-hole game is roughly USD115-USD125 per round, making it out of reach for most individuals. The high expense of new golf course building has also resulted in high pricing for older golf courses. This results in fewer registrations, limiting 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) Titleist and Topgolf Callaway Brands' (MODG) Callaway Golf continue to develop new high-tech golf clubs and other equipment to improve their players skills. Golfers returning to golf courses in search of right golf equipment’s turn to these companies for support. The TSR Metalwoods were the most recent new golf club launch from Titleist in 2023. The brand-new Titleist TSR metalwood lineup, which is made up of three different models and is packed with technology that can help every player of golf. In order to relocate weight and move the center of gravity (CG) lower and closer to the middle of the face, which offers greater flexibility and a higher launch, the extra weight that was located high and near the heel of the clubhead.

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 stores, specialty stores, 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., TaylorMade Golf Co., Mizuno USA, Inc., Wilson Sporting Goods Co., PING, Inc., Bettinardi Golf, Sumitomo Rubber Industries, Ltd., Mizuno Corporation, and Amer Sports Corporation are among the major players that lead the growth of the global golf equipment market.

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.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, the global golf equipment market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Global Golf Equipment Market, By Product Type:
    • Clubs
    • Balls
    • Shoes
    • Others
  • Global Golf Equipment Market, By Distribution Channel:
    • Sports Goods Retailers
    • Exclusive Stores
    • Specialty Stores
    • Online
    • Others
  • Global Golf Equipment Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Indonesia
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Turkey
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global golf equipment market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

It is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary         

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis (B2C Model Analysis)

4.1.  Sample Size Determination

4.2.  Respondent Demographics

4.2.1.     By Gender

4.2.2.     By Age

4.2.3.     By Occupation

4.3.  Brand Awareness

4.4.  Factors Influencing Purchase Decision

4.5.  Customer Satisfaction

4.6.  Challenges Faced After Purchase

5.    Global Golf Equipment Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Product Type Market Share Analysis (Clubs, Balls, Shoes, Others (Apparels, Bags etc.))

5.2.2.     By Distribution Channel Market Share Analysis (Sports Goods Retailers, Exclusive Stores, Specialty Stores, Online and Others (Direct Sales, Distributors etc.))

5.2.3.     By Regional Market Share Analysis

5.2.3.1.         North America Market Share Analysis

5.2.3.2.         Europe Market Share Analysis

5.2.3.3.         Asia -Pacific Market Share Analysis

5.2.3.4.         Middle East & Africa Market Share Analysis

5.2.3.5.         South America Market Share Analysis

5.2.4.     By Company Market Share Analysis

5.3.  Global Golf Equipment Market Mapping & Opportunity Assessment

5.3.1.     By Product Type Market Mapping & Opportunity Assessment

5.3.2.     By Distribution Channel Market Mapping & Opportunity Assessment

5.3.3.     By Regional Market Mapping & Opportunity Assessment

6.    North America Golf Equipment Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Product Type Market Share Analysis

6.2.2.     By Distribution Channel Market Share Analysis

6.2.3.     By Country Market Share Analysis

6.2.3.1.         United States Golf Equipment Market Outlook

6.2.3.1.1.             Market Size & Forecast

6.2.3.1.1.1. By Value

6.2.3.1.2.             Market Share & Forecast

6.2.3.1.2.1. By Product Type Market Share Analysis

6.2.3.1.2.2. By Distribution Channel Market Share Analysis

6.2.3.2.         Canada Golf Equipment Market Outlook

6.2.3.2.1.             Market Size & Forecast

6.2.3.2.1.1. By Value

6.2.3.2.2.             Market Share & Forecast

6.2.3.2.2.1. By Product Type Market Share Analysis

6.2.3.2.2.2. By Distribution Channel Market Share Analysis

6.2.3.3.         Mexico Golf Equipment Market Outlook

6.2.3.3.1.             Market Size & Forecast

6.2.3.3.1.1. By Value

6.2.3.3.2.             Market Share & Forecast

6.2.3.3.2.1. By Product Type Market Share Analysis

6.2.3.3.2.2. By Distribution Channel Market Share Analysis

7.    Europe Golf Equipment Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Product Type Market Share Analysis

7.2.2.     By Distribution Channel Market Share Analysis

7.2.3.     By Country Market Share Analysis

7.2.3.1.         Germany Golf Equipment Market Outlook

7.2.3.1.1.             Market Size & Forecast

7.2.3.1.1.1. By Value

7.2.3.1.2.             Market Share & Forecast

7.2.3.1.2.1. By Product Type Market Share Analysis

7.2.3.1.2.2. By Distribution Channel Market Share Analysis

7.2.3.2.         France Golf Equipment Market Outlook

7.2.3.2.1.             Market Size & Forecast

7.2.3.2.1.1. By Value

7.2.3.2.2.             Market Share & Forecast

7.2.3.2.2.1. By Product Type Market Share Analysis

7.2.3.2.2.2. By Distribution Channel Market Share Analysis

7.2.3.3.         United Kingdom Golf Equipment Market Outlook

7.2.3.3.1.             Market Size & Forecast

7.2.3.3.1.1. By Value

7.2.3.3.2.             Market Share & Forecast

7.2.3.3.2.1. By Product Type Market Share Analysis

7.2.3.3.2.2. By Distribution Channel Market Share Analysis

7.2.3.4.         Italy Golf Equipment Market Outlook

7.2.3.4.1.             Market Size & Forecast

7.2.3.4.1.1. By Value

7.2.3.4.2.             Market Share & Forecast

7.2.3.4.2.1. By Product Type Market Share Analysis

7.2.3.4.2.2. By Distribution Channel Market Share Analysis

7.2.3.5.         Spain Golf Equipment Market Outlook

7.2.3.5.1.             Market Size & Forecast

7.2.3.5.1.1. By Value

7.2.3.5.2.             Market Share & Forecast

7.2.3.5.2.1. By Product Type Market Share Analysis

7.2.3.5.2.2. By Distribution Channel Market Share Analysis

8.    Asia-Pacific Golf Equipment Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Product Type Market Share Analysis

8.2.2.     By Distribution Channel Market Share Analysis

8.2.3.     By Country Market Share Analysis

8.2.3.1.         China Golf Equipment Market Outlook

8.2.3.1.1.             Market Size & Forecast

8.2.3.1.1.1. By Value

8.2.3.1.2.             Market Share & Forecast

8.2.3.1.2.1. By Product Type Market Share Analysis

8.2.3.1.2.2. By Distribution Channel Market Share Analysis

8.2.3.2.         India Golf Equipment Market Outlook

8.2.3.2.1.             Market Size & Forecast

8.2.3.2.1.1. By Value

8.2.3.2.2.             Market Share & Forecast

8.2.3.2.2.1. By Product Type Market Share Analysis

8.2.3.2.2.2. By Distribution Channel Market Share Analysis

8.2.3.3.         Japan Golf Equipment Market Outlook

8.2.3.3.1.             Market Size & Forecast

8.2.3.3.1.1. By Value

8.2.3.3.2.             Market Share & Forecast

8.2.3.3.2.1. By Product Type Market Share Analysis

8.2.3.3.2.2. By Distribution Channel Market Share Analysis

8.2.3.4.         South Korea Golf Equipment Market Outlook

8.2.3.4.1.             Market Size & Forecast

8.2.3.4.1.1. By Value

8.2.3.4.2.             Market Share & Forecast

8.2.3.4.2.1. By Product Type Market Share Analysis

8.2.3.4.2.2. By Distribution Channel Market Share Analysis

8.2.3.5.         Indonesia Golf Equipment Market Outlook

8.2.3.5.1.             Market Size & Forecast

8.2.3.5.1.1. By Value

8.2.3.5.2.             Market Share & Forecast

8.2.3.5.2.1. By Product Type Market Share Analysis

8.2.3.5.2.2. By Distribution Channel Market Share Analysis

9.    Middle East & Africa Golf Equipment Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Product Type Market Share Analysis

9.2.2.     By Distribution Channel Market Share Analysis

9.2.3.     By Country Market Share Analysis

9.2.3.1.         Saudi Arabia Golf Equipment Market Outlook

9.2.3.1.1.             Market Size & Forecast

9.2.3.1.1.1. By Value

9.2.3.1.2.             Market Share & Forecast

9.2.3.1.2.1. By Product Type Market Share Analysis

9.2.3.1.2.2. By Distribution Channel Market Share Analysis

9.2.3.2.         UAE Golf Equipment Market Outlook

9.2.3.2.1.             Market Size & Forecast

9.2.3.2.1.1. By Value

9.2.3.2.2.             Market Share & Forecast

9.2.3.2.2.1. By Product Type Market Share Analysis

9.2.3.2.2.2. By Distribution Channel Market Share Analysis

9.2.3.3.         South Africa Golf Equipment Market Outlook

9.2.3.3.1.             Market Size & Forecast

9.2.3.3.1.1. By Value

9.2.3.3.2.             Market Share & Forecast

9.2.3.3.2.1. By Product Type Market Share Analysis

9.2.3.3.2.2. By Distribution Channel Market Share Analysis

9.2.3.4.         Turkey Golf Equipment Market Outlook

9.2.3.4.1.             Market Size & Forecast

9.2.3.4.1.1. By Value

9.2.3.4.2.             Market Share & Forecast

9.2.3.4.2.1. By Product Type Market Share Analysis

9.2.3.4.2.2. By Distribution Channel Market Share Analysis

10.  South America Golf Equipment Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Product Type Market Share Analysis

10.2.2.  By Distribution Channel Market Share Analysis

10.2.3.  By Country Market Share Analysis

10.2.3.1.      Brazil Golf Equipment Market Outlook

10.2.3.1.1.           Market Size & Forecast

10.2.3.1.1.1.               By Value

10.2.3.1.2.           Market Share & Forecast

10.2.3.1.2.1.               By Product Type Market Share Analysis

10.2.3.1.2.2.               By Distribution Channel Market Share Analysis

10.2.3.2.      Argentina Golf Equipment Market Outlook

10.2.3.2.1.           Market Size & Forecast

10.2.3.2.1.1.               By Value

10.2.3.2.2.           Market Share & Forecast

10.2.3.2.2.1.               By Product Type Market Share Analysis

10.2.3.2.2.2.               By Distribution Channel Market Share Analysis

10.2.3.3.      Colombia Golf Equipment Market Outlook

10.2.3.3.1.           Market Size & Forecast

10.2.3.3.1.1.               By Value

10.2.3.3.2.           Market Share & Forecast

10.2.3.3.2.1.               By Product Type Market Share Analysis

10.2.3.3.2.2.               By Distribution Channel Market Share Analysis

11.  Market Dynamics

11.1.              Drivers

11.1.1.  Rising Popularity of Golf

11.1.2.  Surging Number of Female Professional and Amateur Golfers

11.1.3.  Increasing support from government

11.2.              Challenges

11.2.1.  Expensive golf club membership

11.2.2.  Availability of alternative leisure activities

12.  Impact of COVID-19 on Global Golf Equipment Market

12.1.              Impact Assessment Model       

12.1.1.  Key Segments Impacted

12.1.2.  Key Regions Impacted

12.1.3.  Key Countries Impacted

12.1.4.  Key Distribution Channel Impacted

13.  Market Trends & Developments

13.1.              Technology Upgradation in Golf Equipment

13.2.              New product launches

13.3.              Increasing sales through e-commerce platform

13.4.              Building of new golf courses

14.  Porter’s Five Forces Model

14.1.              Competitive Rivalry

14.2.              Bargaining Power of Buyers

14.3.              Bargaining Power of Suppliers

14.4.              Threat of New Entrants

14.5.              Threat of Substitutes

15.  SWOT Analysis

15.1.              Strengths

15.2.              Weaknesses

15.3.              Opportunities

15.4.              Threats

16.  Competitive Landscape

16.1.              Company Profiles  

16.1.1.  Callaway Golf Co.

16.1.1.1.      Company Details

16.1.1.2.      Product & Services

16.1.1.3.      Financials (As Per Availability)

16.1.1.4.      Key Market Focus & Geographical Presence

16.1.1.5.      Recent Developments

16.1.1.6.      Key Management Personnel

16.1.2.  Acushnet Holdings Corp.

16.1.2.1.      Company Details

16.1.2.2.      Product & Services

16.1.2.3.      Financials (As Per Availability)

16.1.2.4.      Key Market Focus & Geographical Presence

16.1.2.5.      Recent Developments

16.1.2.6.      Key Management Personnel

16.1.3.  TaylorMade Golf Co.

16.1.3.1.      Company Details

16.1.3.2.      Product & Services

16.1.3.3.      Financials (As Per Availability)

16.1.3.4.      Key Market Focus & Geographical Presence

16.1.3.5.      Recent Developments

16.1.3.6.      Key Management Personnel

16.1.4.  Mizuno USA, Inc.

16.1.4.1.      Company Details

16.1.4.2.      Product & Services

16.1.4.3.      Financials (As Per Availability)

16.1.4.4.      Key Market Focus & Geographical Presence

16.1.4.5.      Recent Developments

16.1.4.6.      Key Management Personnel

16.1.5.  Wilson Sporting Goods Co

16.1.5.1.      Company Details

16.1.5.2.      Product & Services

16.1.5.3.      Financials (As Per Availability)

16.1.5.4.      Key Market Focus & Geographical Presence

16.1.5.5.      Recent Developments

16.1.5.6.      Key Management Personnel

16.1.6.  PING, Inc.

16.1.6.1.      Company Details

16.1.6.2.      Product & Services

16.1.6.3.      Financials (As Per Availability)

16.1.6.4.      Key Market Focus & Geographical Presence

16.1.6.5.      Recent Developments

16.1.6.6.      Key Management Personnel

16.1.7.  Bettinardi Golf

16.1.7.1.      Company Details

16.1.7.2.      Product & Services

16.1.7.3.      Financials (As Per Availability)

16.1.7.4.      Key Market Focus & Geographical Presence

16.1.7.5.      Recent Developments

16.1.7.6.      Key Management Personnel

16.1.8.  Sumitomo Rubber Industries Ltd.

16.1.8.1.      Company Details

16.1.8.2.      Product & Services

16.1.8.3.      Financials (As Per Availability)

16.1.8.4.      Key Market Focus & Geographical Presence

16.1.8.5.      Recent Developments

16.1.8.6.      Key Management Personnel

16.1.9.  Mizuno Corporation

16.1.9.1.      Company Details

16.1.9.2.      Product & Services

16.1.9.3.      Financials (As Per Availability)

16.1.9.4.      Key Market Focus & Geographical Presence

16.1.9.5.      Recent Developments

16.1.9.6.      Key Management Personnel

16.1.10.                Amer Sports Corporation

16.1.10.1.    Company Details

16.1.10.2.    Product & Services

16.1.10.3.    Financials (As Per Availability)

16.1.10.4.    Key Market Focus & Geographical Presence

16.1.10.5.    Recent Developments

16.1.10.6.    Key Management Personnel

17.  Strategic Recommendations/Action Plan

17.1.              Key Focus Areas

17.2.              Target Regions & Countries

17.3.              Target Product Type

17.4.               Target Distribution Channel

18.   About Us & Disclaimer

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Figures and Tables

Frequently asked questions

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The key factors driving the Global Golf Equipment Market are the rising popularity of golf tourism, the increasing number of female professional and amateur golfers, and the growing standard of living.

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Callaway Golf is the world's largest golf equipment manufacturer, specializing in golf clubs, bags, balls, gear, and gloves.

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Regarding golf equipment, golf balls are the most commonly purchased item, with larger splurges going on things such as drivers or irons and having an average spending of $30-$40.

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According to most golfers, the putter, wedges, and driver are the most often used golf clubs.

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