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Golf Equipment Market Growth, Trends and Forecasts (2020 - 2025)

  • ID: 4617301
  • Report
  • April 2020
  • Region: Global
  • 100 pages
  • Mordor Intelligence

FEATURED COMPANIES

  • Acushnet Holdings
  • Adidas Group
  • Bridgestong Group
  • Callaway Golf Company
  • Mizuno Corporation
  • Nike Inc.
  • MORE
The golf equipment market is expected to register a CAGR of 2.84% during the forecast period (2019-2024).

The market is highly impacted by product innovations carried out by the key players and the huge investments in marketing and promotional activities, so as to reach a wide customer base.

With the substantial growth of the golf tourism industry, the market is anticipated to have a positive outlook in the coming years. European countries are expected to invest heavily in the infrastructural enhancements pertaining to the game and host many international golf events and competitions.

Furthermore, the participation rates, especially among millennials, in pro-golf tournaments are increasing, which is likely to directly boost the sales of golf equipment during the forecast period.

Key Market Trends

Surge in Number of Golf Courses

Globally, there has been an increase in the number of golf courses, especially in the top golfing countries, over the past few years. The United States, the United Kingdom, Japan, Germany, Canada, South Korea, Sweden, France, and Italy are some of the key leading countries in the golf industry, and most (more than 50%) of the golf courses are located in these countries. Most of these courses belong to private clubs, golf-centric real estate places, and golf resorts. There are more than 30,000 golf facilities across the world, and more than 70% of these are open to the public, and hence, are largely accessible. At present, globally, more than 200 golf courses are under construction and over 350 golf courses are in the planning stages. This indicates a significant rise in demand for golf equipment during the forecast period.

Rise in Demand for Golf Equipment from Asia-Pacific

The Asia-Pacific golf equipment market is led by Japan, followed by China, South Korea, and Thailand, among the other countries in the region. As of 2017, Asia-Pacific had approximately 4,570 golf facilities, and accounted for 14% of the overall global market. In the past few years, there has been a phenomenal growth in the Asia-Pacific golf industry, led by China, followed by India, Australia, and Thailand, in course supply. China is one of the fastest growing countries in the Asia-Pacific region, in terms of the number of golf courses, owing to the rise in awareness about golf and an increase in the golfer’s population in the country. Moreover, increasing media exposure to international golf events has aided the rise in popularity of golf among the masses. This encourages the youth to play such sports, which has further boosted the sales of golf equipment in the region.

Competitive Landscape

The golf equipment market is highly competitive. The market is dominated by players, like Acushnet Holdings, Callaway Golf Company, and Sumitomo Rubber Industries. The companies are adopting competitive strategies, by investing more to develop new technologies for the production of golf equipment. These players are differentiating their products, in terms of design (size and weight) and quality, in order to gain a competitive advantage. Furthermore, the leading companies have adopted strategic expansion as their key strategy, in order to broaden their geographical presence and customer base. For instance, in 2017, Samsung and TaylorMade collaborated to develop a specific myRoundPro experience that utilizes the features of the compatible Samsung Gear devices to provide consumers with a unique experience.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Acushnet Holdings
  • Adidas Group
  • Bridgestong Group
  • Callaway Golf Company
  • Mizuno Corporation
  • Nike Inc.
  • MORE
1 INTRODUCTION
1.1 Study Deliverables & Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Golf Clubs
5.1.2 Golf Balls
5.1.3 Golf Bags and Accessories
5.1.4 Apparel
5.1.5 Footwear
5.2 Distribution Channel
5.2.1 Offline Retail Stores
5.2.2 Online Retail Stores
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 United Kingdom
5.3.2.3 Germany
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 South Korea
5.3.3.4 Thailand
5.3.3.5 Rest of Asia-Pacific
5.3.4 Rest of the World
5.3.4.1 Brazil
5.3.4.2 South Africa
5.3.4.3 Argentina
5.3.4.4 Chile
5.3.4.5 Other Countries

6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Callaway Golf Company
6.4.2 Sumitomo Rubber Industries
6.4.3 Nike Inc.
6.4.4 Acushnet Holdings
6.4.5 Mizuno Corporation
6.4.6 Taylormade Golf Company Inc.
6.4.7 Adidas Group
6.4.8 Bridgestong Group

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
  • Callaway Golf Company
  • Sumitomo Rubber Industries
  • Nike Inc.
  • Acushnet Holdings
  • Mizuno Corporation
  • Taylormade Golf Company Inc.
  • Adidas Group
  • Bridgestong Group
Note: Product cover images may vary from those shown

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