PUBLISHED DATE : Dec 2019 | Pages : 211
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Golf Equipment Market Size, Share, & Trends Analysis Report by Golf Equipment (Clubs, Apparel and Shoes, Balls, and Other Accessories), End-Users (Male and Female), Distribution Channels (Retail and Online), and Geography (APAC, Europe, North America, Middle East & Africa, and Latin America), Industry Analysis, Price Trends, Growth Potential, Competitive Analysis & Forecast, 2020-2025
211 Pages
50 Tables
72 Charts
5 Regions
18 Countries
24 Companies
4 Market Segment
| Report Attribute | Details |
|---|---|
| MARKET SIZE (REVENUE) | USD 16 BILLION (2025) |
| CAGR | 3% (2020-2025) |
| BASE YEAR | 2019 |
| FORECAST YEAR | 2020-2025 |
| MARKET SEGMENTS | Golf Equipment (Clubs, Apparel and Shoes, Balls, and Other Accessories), End-Users (Male and Female), Distribution Channels (Retail and Online) |
| GEOGRAPHIC ANALYSIS | APAC, Europe, North America, Middle East & Africa, and Latin America |
| COUNTRIES COVERED | Japan, South Korea, China, Australia, Thailand, India, UK, Germany, France, Sweden, Spain, UAE, South Africa, Argentina, Mexico, Brazil, US, and Canada |
The golf equipment market size to cross USD 16 billion by 2025, growing at a CAGR of over 3% during the forecast period. The rise in the number of golf courses, events and tournaments is influencing the growth of the global golf equipment market. Several vendors catering to the industry are entering or inking strategic partnerships with upcoming or established players across the globe. Vendors are consistently focusing on maximizing their outreach in the form of sponsorships or partnering with stars or emerging players or even setting up of facility centers in countries, where the scope of expansion prevails.
New product development and consistent product innovations are majorly driving the golf equipment industry. Golf technology companies ranging from global to local ones are bringing out innovative equipment to cater to the wide audience. Also, developing a customer-centric approach remains crucial because players often decide the type of club they prefer for particular shots. This driver tends to create a crucial impact on the development of the industry. Another key feature worth focusing on is the consistency in product launches. Vendors face stiff competition, which tends to make them compete on stringent margins. Thus, innovative ideas and products are frequently worked upon by key players to cater to the growing demand for new equipment.
Digitalization is another crucial factor that is driving the sports products market. People are increasingly getting connected with the outer world via digital sources. The increased connectivity is a key factor for vendors catering to the largest fantasy sports market across the globe. The availability of smartphone resources ensures a streamlined method of reaching out to their target audience. Also, the market players catering to the golf equipment industry can utilize the same to spread digital awareness concerning the utility value of sports products.
This research report includes a detailed segmentation by
The golf clubs, apparel, and shoe segments are expected to dominate the golf industry in the coming. The rising affinity of affinity of people toward the adoption of golf products is boosting the market growth. These clubs comprise the maximum revenue share, and the segment is expected to continue its lead during the forecast period. Moreover, companies are focusing on developing premium digital content to make customers aware of the value of this equipment.
Although apparel and shoes play a vital role for players, especially while playing under adverse weather conditions, wearing well-crafted and designed apparel is gaining popularity among sports players. The growth in tours and events and the advent of digital sales channels worldwide is aiding to the scope of growth for apparel and shoes. These segments are likely to increase during the forecast period. The golf ball market share depends on the number of tournaments and events organized in the region. The growth in popularity and the rise in PGA tours and events tend to drive the demand for a wide range of balls.
Sport in general and golf, in particular, remains a male-dominated activity. This is changing slowly as women's participation in sporting events is witnessing considerable increase; however, the strong prevalence of male players is here to stay. Moreover, the number of tournaments serving men participants has been high. This is a key factor for the high revenue share. Another key factor driving the male end-user segment is the presence of several social media platforms that cater to sports. Interaction with friends, engaging in sporty competitions with each other, and posting the results of the same over the social media sites, is a key industry development.
Over the last few years, the number of female golfers has witnessed a reasonable surge. This is attributed mainly to the growing number of sports events catering to women, along with the growing awareness of the sports equipment among them. Although the female segment accounts for a less share than male end-users, the segment is expected to remain as the key focus area for vendors in the market. The consistently growing population in this end-user segment is set to drive the demand for golf carts & equipment in the region.
The distribution environment is rapidly evolving with systems and processes being upgraded at a rapid pace. This is expected to improve efficiencies and open up to new opportunities. Golf equipment are sold through a wide range of retail distribution channels. Branded shops, sports megastores, on-course outlets, and other channels are the preferred sales channels. The online sale contributed over a 7% of the global golf equipment market share 2019. The online distribution channel is driven by the demand from retailers and consumers for the multi-channel approach. The equipment is sold mostly through dealership websites and online retailers.
Several offline distributors are moving their processes online by incorporating e-commerce solutions and enterprise resource planning systems. However, online distribution has its drawbacks in terms of customer services, transparency, and trustworthiness. Distributors often find it hard to maintain their strength in terms of customer support online. In Africa and Latin America, offline channels will continue to be popular, thereby hindering the growth of the online channel.
North America is likely to account for a major share of the market due to the growing affinity and an increase in the popularity of the sport during the forecast period. Japan, South Korea, China, Australia, Thailand, and India are the major countries where golf equipment are witnessing a surge. Although the APAC market is still in the growth stage, it has a huge potential, along with the growing millennial population.
Europe accounted for over 17% global gulf equipment market share in terms of revenue in 2019. The UK, Germany, France, Sweden, and Spain are major revenue contributors. The demand for sporting equipment in the European region is growing, while upgrades and innovative offerings are driving the market growth.
The traction toward the game has not been as much as in other countries in Latin America. However, there are reasons for the region’s players to remain cheerful. For instance, the Olympics held in Brazil in 2016, paved the way for the development of the game across the country. Also, the development of several clubs across the region and the emergence of players from the region are expected to drive the growth for the sport and its products in the region.
The market remains a highly competitive one, with the nicely poised environment for vendors to pitch in and maximize upon. Vendors are currently competing on a wide range of factors such as pricing, product innovation, new product development, sales & promotional strategies, distribution network, player associations, and sponsorships. These factors help companies/vendors in differentiating themselves from their competitors and aid them in setting up future growth plans.
Branding remains the key to success in a highly competitive environment, and vendors are quick to respond to new opportunities. However, competitiveness varies in the industry. For instance, competitors might compete in terms of technology, quality, performance, and customer service for clubs, while for apparel and shoes, the focus might shift toward styling and pricing. Thus, vendors must assess conditions before they strategize product placements and promotions carefully.
A key consideration for vendors remains consistent innovations. Vendors are currently developing customized equipment. For instance, Callaway one of the leading market player has launched Epic Forged Irons and Epic Star Family of Products to increase callaway golf market share. Acushnet Holdings Corp, Callaway Golf, PING and TaylorMade are the leading market players in industry.
Segmentation by Product
By End-user
By Distribution Channels
By Geography
Frequently Asked Questions
What is the market size of the global golf equipment market?
Golf Equipment market size to cross USD 16 billion by 2025
What are the opportunities and industry trends?
The following factors are likely to contribute to the growth of the golf products market during the forecast period: Transition in Viewership enabling Fan Engagement, Surge in Golf Tourism, Growth Spurred by Increasing Golfing Events, Inking Strategic Deals with Golfers.
What are the key growth strategies of the leading market players?
The increased connectivity is a key factor for vendors catering to the largest fantasy sports market across the globe. The availability of smartphone resources ensures a streamlined method of reaching out to their target audience.
What are the golf equipment industry trends?
Innovative ideas and products are frequently worked upon by key players to cater to the growing demand for new equipment.
What is the market size of North America and Europe regions?
North America is likely to account for a major share of the market due to the growing affinity and an increase in the popularity of the sport during the forecast period.
Which region will provide more business opportunities in future?
Europe accounted for over 17% global gulf equipment market share in terms of revenue in 2019. The UK, Germany, France, Sweden, and Spain are major revenue contributors. The demand for sporting equipment in the European region is growing, while upgrades and innovative offerings are driving the market growth.
The following factors are likely to contribute to the growth of the golf products market during the forecast period:
Base Year: 2019
Forecast Year: 2020−2025
The study considers the present scenario of the market and its market dynamics for the period 2020−2025. It covers a detailed overview of various market growth enablers, restraints, and trends. The report covers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent companies operating in the market.
Major Vendors
Other Prominent Vendors
Market Segmentation by Product
Market Segmentation by End-user
Market Segmentation by Distribution Channels
Market Segmentation by Geography
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by Products
4.4.2 Market Segmentation by End-users
4.4.3 Market Segmentation by Distribution Channel
4.4.4 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Transition in Viewership Enabling Fan Engagement
8.1.2 Facilitation of New Product Development
8.1.3 Surge in Golf Tourism
8.1.4 Growth Spurred by Increasing Golfing Events
8.2 Market Growth Restraints
8.2.1 Declining Millennial Interest in Golf
8.2.2 Unsystematic Swing of the Market
8.2.3 High Equipment Costs
8.3 Market Opportunities & Trends
8.3.1 Maximizing on Global Retail Trends
8.3.2 Leveraging Technology for Product Enhancement
8.3.3 Indulging in Smarter Sponsorships
8.3.4 Inking Strategic Deals with Golfers
9 Value Chain Analysis
9.1 Value Chain Analysis
9.1.1 Product Design & Development
9.1.2 Raw Materials
9.1.3 Manufacturing
9.1.4 Sales & Distribution
9.1.5 Retail Sales
9.1.6 Customers/Players
10 Global Golf Products Market
10.1 Market Size & Forecast
10.2 Five Forces Analysis
10.2.1 Threat of New Entrants
10.2.2 Bargaining Power of Suppliers
10.2.3 Bargaining Power of Buyers
10.2.4 Threat of Substitutes
10.2.5 Competitive Rivalry
11 Market by Product
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
11.3 Golf Clubs
11.3.1 Market Size & Forecast
11.3.2 Market By Geography
11.4 Apparels & Shoes
11.4.1 Market Size & Forecast
11.4.2 Market By Geography
11.5 Golf Balls
11.5.1 Market Size & Forecast
11.5.2 Market By Geography
11.6 Other Accessories
11.6.1 Market Size & Forecast
11.6.2 Market By Geography
12 Market by End-User
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Male
12.3.1 Market Size & Forecast
12.3.2 Market By Geography
12.4 Female
12.4.1 Market Size & Forecast
12.4.2 Market By Geography
13 Market by Distribution Channel
13.1 Market Overview
13.2 Manufacture, Production, and Distribution
13.2.1 Specialty Product Stores
13.2.2 Sports Megastores
13.2.3 On-course Outlets
13.2.4 Other Channels
13.3 Distribution Through Online Websites
14 Market by Geography
14.1 Market Snapshot & Growth Engine
14.2 Overview
15 North America
15.1 Market Size & Forecast
15.2 Key Countries
15.2.1 US: Golf Products Market Size & Forecast
15.2.2 Canada: Market Size & Forecast
15.3 Market Segmentation by Product
15.4 Market Segmentation by End-user
16 APAC
16.1 Market Size & Forecast
16.2 Key Countries
16.2.1 Japan: Golf Products Market Size & Forecast
16.2.2 South Korea: Market Size & Forecast
16.2.3 China: Market Size & Forecast
16.2.4 Australia: Market Size & Forecast
16.2.5 Thailand: Market Size & Forecast
16.2.6 India: Market Size & Forecast
16.3 Market Segmentation by Product
16.4 Market Segmentation by End-user
17 Europe
17.1 Market Size & Forecast
17.2 Key Countries
17.2.1 UK: Golf Products Market Size & Forecast
17.2.2 Germany: Market Size & Forecast
17.2.3 France: Market Size & Forecast
17.2.4 Sweden: Market Size & Forecast
17.2.5 Spain: Market Size & Forecast
17.3 Market Segmentation by Product
17.4 Market Segmentation by End-user
18 Latin America
18.1 Market Size & Forecast
18.2 Key Countries
18.2.1 Argentina: Golf Products Market Size & Forecast
18.2.2 Mexico: Market Size & Forecast
18.2.3 Brazil: Market Size & Forecast
18.3 Market Segmentation by Product
18.4 Market Segmentation by End-user
19 Middle East & Africa
19.1 Market Size & Forecast
19.2 Key Countries
19.2.1 UAE: Golf Products Market Size & Forecast
19.2.2 South Africa: Market Size & Forecast
19.3 Market Segmentation by Product
19.4 Market Segmentation by End-user
20 Competitive Landscape
20.1 Competition Overview
21 Key Company Profiles
21.1 Acushnet Holdings
21.1.1 Business Overview
21.1.2 Major Product Offerings
21.1.3 Key Strengths
21.1.4 Key Strategies
21.1.5 Key Opportunities
21.2 Callaway Golf
21.2.1 Business Overview
21.2.2 Major Product Offerings
21.2.3 Key Strengths
21.2.4 Key Strategies
21.2.5 Key Opportunities
21.3 PinG
21.3.1 Business Overview
21.3.2 Major Product Offerings
21.3.3 Key Strengths
21.3.4 Key Strategies
21.3.5 Key Opportunities
21.4 TaylorMade
21.4.1 Business Overview
21.4.2 Major Product Offerings
21.4.3 Key Strengths
21.4.4 Key Strategies
21.4.5 Key Opportunities
22 Other Prominent Vendors
22.1 Adidas
22.1.1 Business Overview
22.1.2 Key Strengths
22.2 ALDILA
22.2.1 Business Overview
22.2.2 Key Strengths
22.3 Amer Sports
22.3.1 Business Overview
22.3.2 Key Strengths
22.4 Ben Hogan Golf
22.4.1 Business Overview
22.4.2 Key Strengths
22.5 Bridgestone Golf
22.5.1 Business Overview
22.5.2 Key Strengths
22.6 COBRA Golf
22.6.1 Business Overview
22.6.2 Key Strengths
22.7 HONMA
22.7.1 Business Overview
22.7.2 Key Strengths
22.8 L2 Brands
22.8.1 Business Overview
22.8.2 Key Strengths
22.9 Lynx Golf
22.9.1 Business Overview
22.9.2 Key Strengths
22.10 MacGregor Golf
22.10.1 Business Overview
22.10.2 Key Strengths
22.11 Mizuno
22.11.1 Business Overview
22.11.2 Key Strengths
22.12 NIKE
22.12.1 Business Overview
22.12.2 Key Strengths
22.13 Penfold Golf
22.13.1 Business Overview
22.13.2 Key Strengths
22.14 PXG
22.14.1 Business Overview
22.14.2 Key Strengths
22.15 SRI Sports Limited
22.15.1 Business Overview
22.15.2 Key Strengths
22.16 Tour Edge
22.16.1 Business Overview
22.16.2 Key Strengths
22.17 Under Armour
22.17.1 Business Overview
22.17.2 Key Strengths
22.18 U.S. Kids Golf
22.18.1 Business Overview
22.18.2 Key Strengths
22.19 Volvik
22.19.1 Business Overview
22.19.2 Key Strengths
22.20 Yonex
22.20.1 Business Overview
22.20.2 Key Strengths
23 Report Summary
23.1 Key Takeaways
23.2 Strategic Recommendations
23.3 Quantitative Summary
23.3.1 Market By Geography
23.3.2 North America
23.3.3 APAC
23.3.4 Europe
23.3.5 Latin America
23.3.6 Middle East & Africa
23.3.7 Market by Product
23.3.8 Golf Club
23.3.9 Golf Apparels
23.3.10 Golf Balls
23.3.11 Accessories
23.3.12 Market By End-users
24 Appendix
24.1 Abbreviations
List of Exhibits
Exhibit 1 Segmentation of Global Golf Products Market
Exhibit 2 Market Size Calculation Approach 2019
Exhibit 3 Overview of Global Golf Products Market
Exhibit 4 Transition in Viewership Enabling Fan Engagement
Exhibit 5 Facilitation of New Product Development
Exhibit 6 Surge in Golf Tourism
Exhibit 7 Growth Spurred by Increasing Golfing Events
Exhibit 8 Declining Millennial Interest in Golf
Exhibit 9 Unsystematic Swing of the Market
Exhibit 10 High Equipment Costs
Exhibit 11 Maximizing on Global Retail Trends
Exhibit 12 Leveraging Technology for Product Enhancement
Exhibit 13 Indulging in Smarter Sponsorships
Exhibit 14 Inking Strategic Deals with Golfers
Exhibit 15 Value Chain Overview of Global Golf Products Market
Exhibit 16 Global Golf Products Market 2019−2025 ($ million)
Exhibit 17 Golf Products Market Incremental Growth Across Regions
Exhibit 18 Global Fantasy Golf Market 2018−2024 ($ million)
Exhibit 19 Five Forces Analysis 2019
Exhibit 20 Incremental Growth by Product 2019–2025
Exhibit 21 Global Market by Product 2019 & 2025 (%)
Exhibit 22 Global Golf Clubs Market 2019−2025 ($ million)
Exhibit 23 Golf Clubs Market Incremental Growth Across Regions
Exhibit 24 Global Apparel & Shoes Market 2019−2025 ($ million)
Exhibit 25 Global Apparels & Shoes Market Incremental Growth Across Regions
Exhibit 26 Global Golf Balls Market 2019−2025 ($ million)
Exhibit 27 Golf Balls Market Incremental Growth Across Regions
Exhibit 28 Global Other Golf Accessories Market 2019−2025 ($ million)
Exhibit 29 Other Golf Accessories Market Incremental Growth Across Regions
Exhibit 30 Incremental Growth by End-users 2019–2025
Exhibit 31 Global Market by End-user: Overview
Exhibit 32 Market by End-user 2019 & 2025 (%)
Exhibit 33 Global Male Golf Products Market 2019–2025 ($ million)
Exhibit 34 Market by Male Users: Incremental Growth Across Regions
Exhibit 35 Global Female Golf Products Market 2019–2025 ($ million)
Exhibit 36 Market by Female Users: Incremental Growth Across Regions
Exhibit 37 Generic Route to Market Followed by Vendors in the Global Market
Exhibit 38 Market by Distribution Channels 2019
Exhibit 39 Incremental Growth by Geography 2019–2025
Exhibit 40 Market Share of Regions 2019 & 2025 (% revenue)
Exhibit 41 Market in North America 2019–2025 ($ million)
Exhibit 42 US GDP Growth Rate Changes Q1 2016–Q4 2018
Exhibit 43 US Unemployment Rate from January 2018–2019
Exhibit 44 Incremental Growth in North America 2019−2025
Exhibit 45 Market in US 2019–2025 ($ million)
Exhibit 46 Market in Canada 2019–2025 ($ million)
Exhibit 47 Forecast of Real GDP Growth by Group for Asia (%)
Exhibit 48 Market in APAC 2019–2025 ($ million)
Exhibit 49 Incremental Growth in APAC 2019−2025
Exhibit 50 Market in Japan 2019–2025 ($ million)
Exhibit 51 Market in South Korea 2019–2025 ($ million)
Exhibit 52 Market in China 2019–2025 ($ million)
Exhibit 53 Market in Australia 2019–2025 ($ million)
Exhibit 54 Market in Thailand 2019–2025 ($ million)
Exhibit 55 Market in India 2019–2025 ($ million)
Exhibit 56 Forecast of Real GDP Growth Change EU vs. Worldwide (%)
Exhibit 57 Market in Europe 2019–2025 ($ million)
Exhibit 58 Incremental Growth in Europe 2019−2025
Exhibit 59 Market in UK 2019–2025 ($ million)
Exhibit 60 Market in Germany 2019–2025 ($ million)
Exhibit 61 Market in France 2019–2025 ($ million)
Exhibit 62 Market in Sweden 2019–2025 ($ million)
Exhibit 63 Market in Spain 2019–2025 ($ million)
Exhibit 64 Market in Latin America 2019–2025 ($ million)
Exhibit 65 Incremental Growth in Latin America 2019−2025
Exhibit 66 Market in Argentina 2019–2025 ($ million)
Exhibit 67 Market in Mexico 2019–2025 ($ million)
Exhibit 68 Market in Brazil 2019–2025 ($ million)
Exhibit 69 Market in MEA 2019–2025 ($ million)
Exhibit 70 Incremental Growth in MEA 2019–2025
Exhibit 71 Market in UAE 2019–2025 ($ million)
Exhibit 72 Market in South Africa 2019–2025 ($ million)
List of Tables
Table 1 Key Caveats
Table 2 Currency Conversion 2014−2019
Table 3 Oldest Golf Courses in US
Table 4 Upcoming Tournaments across Countries
Table 5 Some of the Deals/Partnerships between Brands and Golfers as of 2019
Table 6 Global Golf Clubs Market by Geography 2019–2025 ($ million)
Table 7 Global Apparels & Shoes Market by Geography 2019–2025 ($ million)
Table 8 Global Golf Balls Market by Geography 2019–2025 ($ million)
Table 9 Other Golf Accessories Market by Geography 2019–2025 ($ million)
Table 10 Global Male Golf Products Market: Geography 2019–2025 ($ million)
Table 11 Global Female Golf Products Market: Geography 2019–2025 ($ million)
Table 12 Percentage Change in Real GDP Growth in US & Canada 2019 and 2020
Table 13 Market in North America by Product 2019–2025 ($ million)
Table 14 Market in North America by End-user 2019–2025 ($ million)
Table 15 Percentage Change in Real GDP Growth in Key APAC Countries 2019 and 2020
Table 16 Market in APAC by Product 2019–2025 ($ million)
Table 17 Market in APAC by End-user 2019–2025 ($ million)
Table 18 Change in Real GDP Growth in Key European Countries 2019 and 2020 (%)
Table 19 Market in Europe by Product 2019–2025 ($ million)
Table 20 Market in Europe by End-user 2019–2025 ($ million)
Table 21 Change in Real GDP Growth in Key Latin American Countries 2019 and 2020 (%)
Table 22 Market in Latin America by Product 2019–2025 ($ million)
Table 23 Market in Latin America by End-user 2019–2025 ($ million)
Table 24 Change in Real GDP Growth in Key MEA Countries 2019 and 2020 (%)
Table 25 Market in MEA by Product 2019–2025 ($ million)
Table 26 Market in MEA by End-user 2019–2025 ($ million)
Table 27 Acushnet Holdings (Titleist): Product Offerings
Table 28 Acushnet Holdings (FootJoy): Product Offerings
Table 29 Callaway Golf: Product Offerings
Table 30 PING: Product Offerings
Table 31 TaylorMade: Product Offerings
Table 32 Global Market by Geography 2019–2025 ($ million)
Table 33 Market in North America by Product 2019–2025 ($ million)
Table 34 Market in North America by End-user 2019–2025 ($ million)
Table 35 Market in APAC by Product 2019–2025 ($ million)
Table 36 Market in APAC by End-user 2019–2025 ($ million)
Table 37 Market in Europe by Product 2019–2025 ($ million)
Table 38 Market in Europe by End-user 2019–2025 ($ million)
Table 39 Market in Latin America by Product 2019–2025 ($ million)
Table 40 Market in Latin America by End-user 2019–2025 ($ million)
Table 41 Market in MEA by Product 2019–2025 ($ million)
Table 42 Market in MEA by End-user 2019–2025 ($ million)
Table 43 Global Market by Product ($ million)
Table 44 Global Golf Clubs Market by Geography 2019–2025 ($ million)
Table 45 Global Apparels & Shoes Market by Geography 2019–2025 ($ million)
Table 46 Global Golf Balls Market by Geography 2019–2025 ($ million)
Table 47 Global Other Golf Accessories Market by Geography 2019–2025 ($ million)
Table 48 Global Market by End-user ($ million)
Table 49 Global Male Golf Products Market by Geography 2019–2025 ($ million)
Table 50 Global Female Golf Products Market by Geography 2019–2025 ($ million)
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