Golf Equipment Market
Opportunities and Forecasts, 2017 – 2023
Pages : 158 Publish Date: Feb 2018
GOLF EQUIPMENT MARKET
Golf Equipment Market has witnessed growth owing to increase in golf tourism. According to the International Association of Golfing Tour Operators (IAGTO), the global golf tourism market was valued more than $12 billion in 2012, out of which the U.S. is reported to be the largest market in terms of golf as a sport. However, the rising middle-class population and investments in infrastructure in Asia-Pacific drive the golf sector, thereby supplementing the global golf equipment market.
Biswa Sinha Sr. Research Analyst, Consumer Goods at AMR.
GOLF EQUIPMENT MARKET OVERVIEW • The Global Golf Equipment Market size was valued at $8,156 million in 2016, and is expected to reach $9,666 million by 2023, registering a CAGR of 2.6% from 2017 to 2023, according to the latest report published by Allied Market Research. • Golf is a sport activity popular among business individuals as it is used as a means to offer closure of business deals. Golf equipment consists of various items that are essential to play the sport of golf, and are also crucial in providing an enriched experience to the player. Golf equipment include golf balls, golf shoes, golf clubs, and other aids such as wedges and putters. The key factors that fuel the golf equipment market are increasing consumers disposable income, growth in professional and amateur female golfers, and trend of golf tourism, owing to setup of golf courses across the world.
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GOLF EQUIPMENT MARKET KEY BENEFITS •
In terms of value, the golf clubs segment is expected to grow at a CAGR of 1.7% from 2017 to 2023.
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North America is expected to dominate the golf equipment market in the future, registering CAGR of 1.7%, in terms of value, while Asia-Pacific is projected to show consistent growth throughout 2023, growing at a CAGR of 5.2%, in terms of value.
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The specialty store segment accounted for more than 45% share of the total market in 2016.
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Japan, China, and are collectively accounted for more than half of the total Asia-Pacific golf equipment market in 2016.
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China is expected to grow at a CAGR of 10.8%, in terms of value.
GOLF EQUIPMENT MARKET
GOLF EQUIPMENT MARKET BY DISTRIBUTION CHANNEL
GOLF EQUIPMENT MARKET BY TYPE
KEY PLAYERS IN INDUSTRY
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Acushnet Holdings Corp. Roger Cleveland Golf Company, Inc. Golfsmith International Holdings, Inc. Nike, Inc. Amer Sports Corporation Bridgestone Sports Ltd Sumitomo Rubber Industries Ltd.(Japan) Callaway Golf Company TaylorMade Golf Company PING.
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GOLF EQUIPMENT MARKET SEGMENTS • By Type • • • • GOLF EQUIPMENT MARKET SEGMENTS
Golf Balls Golf Clubs Golf Shoes Others
• By Distribution Channel • • • • •
Specialty Stores Sporting Goods Chain On-course Shops Online Stores Others
GOLF EQUIPMENT MARKET BYÂ GEOGRAPHY North America, Europe, Asia-Pacific, LAMEA
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