Golf equipment includes golf tees, balls, golf bags, and other items used for playing the sport. Tees are used to raise the ball off the teeing area, making it easier to hit the ball in the hole with the fewest number of attempts. Golf shoes are designed with spikes on the bottom for traction, and golf gloves help golfers maintain their balance.

Market Statistics:

The global golf equipment market is estimated to account for US$ 10,655.75 Mn in terms of value by the end of 2021.

Global Golf Equipment Market: Drivers

Increasing participation rate of people is driving growth of the golf equipment market. According to the Coherent Market Insights analysis, between 1985 and 2020, the number of official golf courses in Europe increased from around 3,000 to 7,000, after which a slight decline was witnessed. As of 2017, England, with approximately 1,870 official golf courses, had the highest number of golf courses in Europe, followed by Germany and France, with around 700 and 600 registered golf courses, respectively.

Global Golf Equipment Market: Opportunities

Advent of eco-friendly golf equipment that consist of heavy earth salts rather than heavy metal fillers and golf hats that are made from bamboo/cotton that is not chemically treated is expected to provide significant growth opportunities. This is attributed to the growing consumer demand rising for sustainable products

Global Golf Equipment Market: Restraints

Lack of physical activities among consumer due to hectic lifestyle is expected to limit their participation in golf courses. This is projected to hamper the market growth.

Global Golf Equipment Market - Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 outbreak has affected millions of people around the world. The World Health Organization declared COVID-19 a pandemic on March 11, 2020, leading to a huge impact on people’s lives. Owing to this, governments around the world have implemented multiple measures to curb the spread of the virus. Apart from the serious implications on people's health and healthcare services, the COVID-19 pandemic has had a significant impact on businesses and the global economy. The pandemic had adversely impacted the golf equipment market over the study period. For instance, Spain and Portugal suffered substantially because their golf market is mostly dependent on tourism. However, in the United Kingdom, Germany, Sweden, Denmark, and Norway, the golf market has grown in terms of volume and value.

Key Takeaways:

The global golf equipment market was valued at US$ 10,655.75 Mn in 2021 and is forecast to reach a value of US$ 16,210.00 Mn by 2030 at a CAGR of 4.21% between 2022 and 2030.

Offline store segment held dominant position in the global golf equipment market in 2020, accounting for 60.00% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

 To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/golf-equipment-market-5205

Global Golf Equipment Market Trends:

Growing trend of online shopping is driving sale of golf equipment. This can attributed to ease of purchasing products and level of convenience online retailing provides consumers. Moreover, consumers have the luxury of browsing and shopping for products 24x7 from the comfort of their homes. All these factors are projected to augment the market growth.

Rapid urbanization and increasing disposable income of consumers are other major factors acting as a catalyst to the market growth.

Global Golf Equipment Market: Competitive Landscape   

Callaway Golf Company, Sumitomo Rubber Industries, Nike Inc., Acushnet Holdings, Mizuno Corporation, Taylormade Golf Company Inc., Adidas Group, Bridgestone Corporation, Puma SE, PING, and Anta Sports Products Limited (Amer Sports)

Global Golf Equipment Market: Recent Developments

  1. In September 2021, Mizuno launched its new ST-G 220 Driver, the latest generation of ST Series, building on the success of the ST-Z and ST-X and featuring the SAT2041 Beta Ti face and complex carbon construction.
  2. In December 2021, Mizuno launched New Iron Line-up named Mizuno Pro 221, Mizuno Pro 223 and Mizuno Pro 225. This new line-up offers the control and feel of a blade while increasing the distance.
  3. In January 2022, The Acushnet Holdings Corp. launched the third iteration of its AVX golf ball, featuring increased short game spin and control, enhanced driver distance, and even softer feel.
  4. In September 2021, The Acushnet Holdings Corp. launched limited special Tour ball: Pro V1 Left Dot. The Pro V1 Left Dot for golfers is meant for for a lower flight and less spin with woods and long irons than the Pro V1.

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