Golf Equipment Market

Golf Equipment Market Size Survey Report – In a Glance

As per the survey report on global Golf Equipment market, the market is projected to foresee a CAGR of 4.5% between 2024-2033, and further generate a market size of USD 17.4 billion by the end of 2033. In the year 2024, the market size was valued at USD 13.2 billion.

• The global Golf Equipment market is projected to grow on account of the surge in demand driven by the growing popularity of the sport.
• In Japan, the Golf Equipment market growth can be attributed to the increased number of women golfers.
• KDMI analyst’s growth analysis foresees the high cost of equipment to challenge the market growth.
• North America having the highest market share in the Golf Equipment market is projected to dominate the global market.

Golf Equipment Market Analysis

Analyst’s Observation on Golf Equipment Market Survey

Golf equipment encompasses various items such as clubs, balls, golf bags, golf shoes, and gloves used to play golf. Though it is expensive, it is an investment that helps one to enjoy the sport for many years. The golf equipment market is experiencing a surge in demand driven by the growing popularity of the sport. Scottie Scheffler, Xander Schauffele, and Rory McIlroy are the top three golf players in the world rank. In the United States, golf drove USD 101.7 billion in economic activity throughout the U.S. in 2022, an increase of 20% over its USD 84.1 billion impact in 2016. Callaway, SRI Sports Limited, and Acushnet Holding Corp. are some of the significant parties in the global market for Golf Equipment.

Analyst’s Observation on Japan Golf Equipment Market Survey

In Japan, the market growth for Golf Equipment can be attributed to the increased number of women golfers. The impression that golf is a game for men is changing now in Japan, golf appears to be coming around to the impress that the sport is for women also. In the last decade, women's golf has been growing in popularity in Japan, and this trend is expected to continue in the future. There has been an increasing number of enthusiastic, talented female players from Japan, who are achieving great success on the international stage and have continued to put women’s golf on the map in Asia. HONMA, Mizuno, and Bridgestone are some of the significant parties in the market for Golf Equipment in Japan.

Golf Equipment Market Growth Drivers and Challenges

According to the analysts, some key growth drivers for the Golf Equipment market are as follows:

Demand for Eco-friendly and Sustainable products

Many golf equipment manufacturers have switched over to eco-friendly manufacturing processes because the latest trend is being driven by consumer demand for more sustainable and eco-friendly equipment. Manufacturers are revolving to recycled things to craft golf clubs and balls, using recycled rubber and metal reducing the dependence on new raw materials and reducing the ecological footprint. Refurbishing old equipment is also a commonly used practice in manufacturing industries, the process includes re-gripping clubs, polishing, and reconditioning, making them almost as good as new. Bamboo is commonly used within golf club heads, and golf club shafts are made of recycled metals. Grips contain carefully created bio-composites, and manufacturers are careful to source their materials from places that aren’t environmentally sensitive.

Technological Advancement in Golf Equipment

Technological Advancement in Golf equipment helps players to achieve desirable results. In Golf skills improvements, new technologies help to boost the performance of balls, clubs, and tees. Graphene and nanotechnology are now used in golf balls to boost ball flight, spin, and durability. Titanium and exotic materials are used in golf clubs to optimize weight sharing. Artificial intelligence (AI) assists in designing club heads that perform optimally. Golf carts are now electric-powered and have improved battery technology for longer range and faster charging times. The impact of technology on golf in 2023 is profound. Innovations in equipment, are elevating the Golf sport to new statures, attracting more players and fans. Ultimately, these technological advancements are reshaping the golf landscape.

Restraint Factors

High cost of equipment: High-quality materials are frequently used to make golf clubs, balls, bags, and many other golf equipment. Manufacturers use advanced metals and compounds to improve durability and performance, which drives up prices. Few high-end equipment is produced in limited numbers, which creates shortages and drives up demand and prices.

Competition from other sports: Golf faces competition from other sports such as cricket, badminton, tennis, soccer, and many others which limits golf's growth. These sports are often more accessible and less expensive as compared to golf. This situation is challenging for the golf sport, and further, it is hampering the Golf equipment market.

Golf Equipment Market Segmentation

Our experts at KD Market Insights have segmented the global Golf Equipment market research report as:

Golf Equipment Market Regional Synopsis

North America having the highest market share in the Golf Equipment market is majorly driven by the increasing number of golf courses. New golf courses have been created since a decade ago. North America is the leading region for people engaging with golf, since golf courses are expected to grow in size and need regular maintenance, the demand for golf carts has increased over recent years. Due to the expanding number of golf courses, there is a higher need for golf equipment. American golfers have spent plenty of money on equipment (golf balls and clubs), apparel, shoes, accessories, and a variety of other golf products. In 2022 the purchases made at retail outlets figure is nearly USD 4.9 billion. When including commercial products, such as golf carts, maintenance equipment, accessories, kitchen equipment, etc., this total rises to USD 7.2 billion. This is up from USD 6 billion in 2016. Canada's golf equipment imports will reach USD 24.5 million by 2026. This is up from USD 24.3 million in 2021, with a 0.2% increase on average each year.

Asia growing with the fastest CAGR in the Golf Equipment market is majorly driven by the rising popularity of TopGolf. It uses advanced technology to enhance the experience and the locations are often strategically placed in urban and suburban areas, making people easily accessible. Topgolf made both enthusiastic golfers and newcomers, the environment is aimed to be inclusive and welcoming to people of all skill levels, ages, and backgrounds. The increased popularity of TopGolf demands the Golf Equipment market. Consumer demand for golf equipment is higher in the majority of Asia Pacific regions such as India Australia, and Japan. The US and Japan are responsible for about two-thirds of the world golf equipment market.

In the Golf Equipment segment, the market delivered strong golf club performance and reached a record golf ball market share of 20.5% in the

United States. The demand for golf equipment in Europe is part of an overall positive trend because there are more than 100 large-scale golf entertainment venues. Golf in Australia is booming, with 3.5 million.

In Mexico, there are many marketplaces for new and used golf Equipment. Women’s Golf South Africa is an associate member of the South African Golf Association, it is recognized by international golf and it needs and demands huge golf equipment.

As per our analysts at KD Market Insights, the following five players lead the North American highest market share golf equipment market growth:

• Callaway golf Company
• TaylorMade
• Acushnet Holdings Corp
• Bridgestone Golf
• TaylorMade
• PING

Golf Equipment Market Competitive Landscape

Some of the key players who top the global Golf Equipment market share:

• TaylorMade Golf
• Louisville Golf
• Bushnell Golf
• FootJoy
• PING
• Decathlon
• Wilson Sporting Goods
• SKLZ
• Garmin
• Srixon
• Others

1. Executive Summary
   1. Market Overview
   2. Key Findings
   3. Market Trends
   4. Market Outlook
2. Introduction
   1. Scope of the Report
   2. Research Methodology
   3. Definitions and Assumptions
   4. Acronyms and Abbreviations
3. Market Dynamics
   1. Drivers
   2. Restraints
   3. Opportunities
   4. Challenges
4. Global Golf Equipment Market
   1. Market Overview
   2. Market Size and Forecast
   3. Market Segmentation
      1. By Type
      2. By Material
      3. By Gender
      4. By Application
      5. Distribution Channel
      6. By Region
5. Market Segmentation by Type
   1. Golf Clubs
   2. Golf Balls
   3. Golf Bags
   4. Golf Gloves
   5. Others
6. Market Segmentation by Material
   1. Graphite
   2. Steel
   3. Titanium
   4. Carbon Fiber
   5. Polyurethane
   6. Others
7. Market Segmentation by Gender
   1. Men
   2. Women
   3. Others
8. Market Segmentation by Application
   1. Driving Ranges
   2. Golf Courses
   3. Home Use
   4. Others
9. Market Segmentation by Distribution Channel
   1. Direct
   2. Indirect
   3. Others
10. Regional Analysis
    1. North America
    2. United States
       1. 1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       2. Canada
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       3. Mexico
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
    3. Europe
       1. United Kingdom
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       2. Germany
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       3. France
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       4. Italy
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       5. Spain
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       6. Rest of Europe
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
    4. Asia Pacific
       1. China
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       2. Japan
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       3. India
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       4. Australia
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       5. South Korea
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       6. Rest of Asia Pacific
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
    5. Latin America
       1. Brazil
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       2. Argentina
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       3. Colombia
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       4. Rest of Latin America
          1. Market Size and Forecast
          2. Key Trends and Developments
          3.               Market Analysis by Type, Material, Gender, Application and Distribution Channel
    6. Middle East & Africa
       1. South Africa
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       2. Saudi Arabia
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       3. UAE
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
       4. Rest of Middle East & Africa
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Type, Material, Gender, Application and Distribution Channel
11. Competitive Landscape
    1. Market Share Analysis
    2. Company Profiles
       1. All Company Names
          1. TaylorMade Golf
          2. Louisville Golf
          3. Bushnell Golf
          4. FootJoy
          5. PING
          6. Decathlon
          7. Wilson Sporting Goods
          8. SKLZ
          9. Garmin
          10. Srixon
       2.  
12. Strategic Recommendations
13. Appendix
    1. List of Tables
    2. List of Figures
14. References