Which region is expected to dominate the golf equipment market?
This indicates a significant rise in demand for golf equipment during the forecast period. 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.
What are some facts about the golf industry?
Golf Industry - Statistics & Facts. Since its emergence as a major spectator sports in the 1920s, golf has grown to become not only a popular recreational activity but also a sport with a major economic impact. In 2017, total golf equipment wholesale sales in the U.S. including golf clubs and balls amounted to more than two billion U.S. dollars.
How many beginners are in the golf industry?
The industry has had seven straight years with more than 2 million beginners. By comparison, there were 1.5 million beginners in 2011. The key for future growth, however, is retention. off-course only participants. The engagement within this demographic has remained steady for the past seven years.
What are the competitive strategies used in the golf industry?
The companies are adopting competitive strategies, by investing more to develop new technologies for the production of golf equipment. These players differentiate their products in terms of design (size and weight) and quality to gain a competitive advantage.
What is the target market for golf?
4.1 Market Segmentation The breakdown of participation in golf is as follows: 1% Professional, 63% men, 32% women , 4% youth, with 81% recreational golfers. Our products are targeting the lady golfer/recreational group, because they are the fastest growing segment in the golfing industry.
What industry is a golf club?
Golf courses and country clubs are a significant component of subsector 713, Amusement, Gambling and Recreation Industries.
What is the state of the golf industry?
More than 24.8 million people played golf in the U.S. in 2020, up more than 2% year-over-year and the largest net increase in 17 years. Golf equipment and apparel has seen massive growth, with golf brands like Callaway and Titleist notching record sales.
What are problems in the golf industry?
The challenges addressed in the U.S. and beyond include the overbuilding of golf courses, low participation in the game, and a decreased demand for golf rounds. The impact of these challenges has resulted in discounting golf rounds, along with closures, conversions, or selling off of golf course properties.
How big is the golf market?
b. The global golf equipment market size was estimated at USD 6.65 billion in 2019 and is expected to reach USD 6.85 billion in 2020....Report AttributeDetailsMarket size value in 2020USD 6.85 billionRevenue forecast in 2025USD 7.6 billionGrowth RateCAGR of 2.2% from 2019 to 2025Base year for estimation201810 more rows
How is the golf industry doing?
In 2020, golf boomed after coronavirus-related shutdowns were lifted, with a net increase of 60 million+ rounds that was the biggest since 1997 – the year a 21-year-old Tiger Woods spurred the game to new heights with his breakthrough major win at the Masters Tournament.
How do you market a golfer?
Golf course marketing ideas that workImplement SEO strategies. ... Create a responsive site. ... Offer interesting content. ... Offer easy online registration for tee times. ... Consider using paid advertising options. ... Encourage testimonials on Golf Advisor and other sites. ... Have a social media presence. ... Advertise on social media.More items...
How much is the golf industry?
Golf is a nearly $70 billion industry.
Why golf is not popular?
The golden age of golf appears to have come and gone and the demographics population in general is getting older. The decline in golf is surely in part due to those who love the game getting too old to play it and dying off, leaving the numbers of golfers continuing to dwindle.
What are golf clubs made of?
Golf clubs have been improved and the shafts are now made of steel, titanium, other types of metals or carbon fiber. The shaft is a tapered steel tube or a series of stepped steel tubes in telescopic fashion. This has improved the accuracy of golfers. The grips of the clubs are made from leather or rubber.
Why are there shortages in golf clubs?
Golf clubs and grips are in short supply due to global supply chain issues, Bloomberg reports. The shortages come at a time when golf is exploding in popularity due to the pandemic. 2020 saw the biggest net increase in golfers in 17 years, according to the National Golf Foundation.
What are some of the biggest issues golf faces today?
Consider just five of the most pressing issues facing golf courses and players at this time:Resolving COVID-19 Related Disruptions. ... Addressing Increased Public Demand. ... Obtaining Financing. ... Solving Labor Issues. ... Minimizing Weather-Related Concerns. ... 2021: A Year of Opportunities.
What is the study period of this market?
The Golf Equipment Market market is studied from 2016 - 2027. Read More
What is the growth rate of Golf Equipment Market?
The Golf Equipment Market is growing at a CAGR of 4.21% over the next 5 years. Read More
Which region has highest growth rate in Golf Equipment Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026. Read More
Which region has largest share in Golf Equipment Market?
North America holds highest share in 2021. Read More
Who are the key players in Golf Equipment Market?
Callaway Golf Company, Nike Inc., Acushnet Holdings Corp., Bridgestong Group, Sumitomo Rubber Industries Ltd are the major companies operating in G...
What are the leading golf equipment companies?
The leading golf equipment/apparel companies in the world include Acushnet, Callaway Golf, as well as NIKE golf. In 2020, worldwide revenue of Callaway Golf amounted to almost 1.6 billion U.S. dollars. The Royal Troon Golf Club in Glasgow, Scotland is the leading golf course management company and currently owns 278 golf courses worldwide in 2020.
How much money will golf clubs make in 2024?
Revenue from golf course and country clubs is projected to reach approximately 24.65 billion U.S. dollars in the United States by 2024. As of 2019, the number of golf participants in the U.S. stood at approximately 24.3 million.
How much is golf equipment sold in the US?
In 2019, total golf equipment wholesale sales in the U.S. including golf clubs and balls amounted to more than 2.3 billion U.S. dollars.
How does technology affect golf?
The effects of technology on golf can be seen in the design of the golf clubs, the use of global positioning system devices for measuring the distance to the hole, and swing analysis which can correct errors in the swing.
Which country has the largest golf market?
India and China are two of the world’s largest emerging golf markets. The golf industry in Asia has taken off with rising income and more visitors. India and China, which already attract large numbers of tourists seen the need to serve increasing numbers of members in their countries.
How many hours of golf is on the PGA Tour in 2019?
In 2019, PGA Tour Golf covered about 900 hours of live PGA tour golf, and while the COVID-19 pandemic has put a damper on 2021 expectations, golfers can expect the overall trend of increased coverage of tournaments and an increased social media presence to continue in the coming years.
How many millennials are interested in golf?
Younger golfers like Rory Mcllroy are proving the stereotype that golf is a sport for the older segments of the population wrong. In 2019, over 14 million millennials indicated that they would be interested in playing a game of golf this year.
How many holes are there in golf?
Golfers can expect more 6 and 9 hole courses to complement the traditional golf courses. Golfing legend, Gary Player, said in an HSBC report that golfing community would have to come up with ways to play that do not take as long as a complete round for golf to grow.
Why are shorter golf courses so popular?
More people are being drawn to shorter courses and the opportunity to play fewer holes because of work and family requirements. This allows golfers to get onto the course quicker, and shorter courses are increasing in popularity. Golfers can expect more 6 and 9 hole courses to complement the traditional golf courses.
What percentage of golfers are women?
Another noteworthy demographic shift is the increasing interest in golf from women. In 2019, women were about a quarter of all golfers, and surveys found that their presence in the key beginners and juniors segments of golfers has grown as well.
What are the major players in the golf equipment market?
The market is dominated by players like Acushnet Holdings Corp., Callaway Golf Company, Nike Inc., Bridgestone Corporation, 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 differentiate their products in terms of design (size and weight) and quality 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.
How many golf courses are open to the public?
Most of these courses belong to private clubs, golf-centric real estate places, and golf resorts. More than 30,000 golf facilities, worldwide, and more than 70% of these are open to the public, and hence, are largely accessible.
What countries are in the Asia Pacific golf market?
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.
Where is golf played?
Golf is mostly being played in the Americas, Europe, and Oceanian countries, which were highly impacted by the pandemic resulting in a decline in the equipment market. However, the situation started to improve after mid-year with improved sales and market growth. The market is highly impacted by product innovations carried out by ...
What is the scope of golf?
Scope of the Report. Golf is a club-and-ball sport in which players use various clubs to hit balls into a series of holes on a course in as few strokes as possible. The study on the golf equipment market covers a range of product types, such as golf clubs, golf balls, golf bags and accessories, apparel, and footwear, and distribution channels, ...