The global golf equipment market size was valued at $7,041.3 million in 2020, and is projected to reach $10,150.3 million by 2030, registering a CAGR of 3.9% from 2021 to 2030. All products that are used to play golf are termed as golf equipment.
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| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 6.85 billion |
| Revenue forecast in 2025 | USD 7.6 billion |
| Growth Rate | CAGR of 2.2% from 2019 to 2025 |
| Base year for estimation | 2018 |
How big is the global golf equipment market?
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 2.2% from 2017 to 2023.
Which region is expected to dominate the golf equipment market?
Geographically, the global golf equipment market is categorized into North America, Europe, Asia-Pacific, and LAMEA. North America dominated the global market in 2016 and is expected to maintain this trend throughout the forecast period.
What is driving the demand for golf equipment?
Development and expansion of golf courses, along with increasing government initiatives to promote golf tourism, have popularized this sport, thereby ramping up the demand for its associated equipment, such as golf equipment. The professional application segment is expected to expand at a CAGR of 2.0% from 2020 to 2027.
What is the market size of the professional golf application segment?
The professional application segment is expected to expand at a CAGR of 2.0% from 2020 to 2027. An increasing number of professional golfers, along with the rising interest of amateur golfers and the efforts taken by them to become professionals, is acting as a major factor driving the segment.
How big is the golf ball market?
Industry Insights The global golf ball market size was valued at USD 1.11 billion in 2017 and is projected to register a CAGR of 2.7% from 2018 to 2025. Promotion of golf tourism, construction of new golf courses, and rising consumer disposable income are some of the key market drivers.
How much money is spent on golf equipment each year?
When asked how much they spend on golf equipment annually, the majority (43.8%) said between $500-$1,000. That barely beat out a group of 40.1% that said it spends less than $500 a year. Only 13.4% said between $1,000-$2,000, and just 2.7% said more than $2,000.
Is the golf market growing?
The global golf club market size was valued at USD 3.66 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 2.5% from 2020 to 2027. The market is majorly driven by the growing popularity and adoption of golf as an active sport.
Is owning a golf course profitable?
Profitable golf courses are generally selling for six to eight times EBITDA, while courses that aren't profitable tend to sell at 0.8 to 1.4 times revenue.
How big is the golf industry?
The golf industry as a whole is worth $84 billion. In 2020, 8% of the American population played golf on a golf course. If you count the people who played on and off-course, the number of players jumps to 34.2 million. There have recently been a lot of new golfers in the United States too.
Is golf gaining or losing popularity?
Golf is on the decline in America. That reality has finally smacked us in the face like a two-by-four. The number of core American golfers (those playing eight rounds or more per year) has fallen between three and 4.5 percent every year since 2006.
Is interest in golf declining?
However, the popularity of golf was on the decline in the new millennium; between 2003 and 2018, golf saw a decline of over 6.8 million players and more than 1,200 course closures. Hopes for a turnaround in the golfing industry were shattered in March of 2020 with the COVID-19 global pandemic.
Is golf in a boom?
There were more rounds of golf played at courses across the U.S. than at any time in history. Ever. This after a record-setting, Covid-driven boom during the second half of 2020. What's interesting is that as golf engagement remains strong, the rationale for why golfers have increased their play has seen a shift.
How much is the golf equipment industry worth?
USD 6.65 billionb. 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.
How much does the average golfer spend a year?
Here's the crazy thing: A 2009 survey of the American golfer conducted by Golf Magazine found that the average golfer spent $2,776 per year on golf-related expenses. That means that, in real (aka inflation-adjusted) terms, the average golf spend in 2015 is not far off from the average spend in 1915.
How much does a golf kit cost?
Q. 1 How Much Does a Golf Kit Cost? Ans: A decent kit for golf would cost you anywhere around Rs 14,000.
How much does the average golfer spend on clubs?
The average cost of golf clubs is between $200 – $400, depending on the type of clubs you need.
What is the total market value of Golf equipment market report?
The global golf equipment market size was valued at $7,041.3 million in 2020, and is projected to reach $10,150.3 million by 2030, registering a CA...
What would be forecast period in the market report?
The forecast period in the golf equipment market report is from 2021 to 2030. Read More
What is the market value of Golf equipment market in 2020?
The global golf equipment market size was valued at $7,041.3 million in 2020. Read More
Which is base year calculated in the Golf equipment market report?
The base year calculated in the golf equipment market report is 2020. Read More
Which are the top companies hold the market share in Golf equipment market?
The top companies that hold the market share in golf equipment market are Acushnet Holdings Corp., Roger Cleveland Golf Company, Inc., Golfsmith In...
Which is the most influencing segment growing in the Golf equipment market report?
The golf clubs segment is the most influencing segment growing in the golf equipment market report. Read More
What are the key trends in the Golf equipment market report?
Golf is a high revenue sport that is prompting a surge in the construction of golf courses and clubs. In addition, technical developments in golf c...
What are the market values / growth % of emerging countries?
. U.S. was the highest revenue contributor with $2,953.3 million in 2020, and is estimated to reach $3,813.6 Million by 2030, registering a CAGR of...
How big is the golf equipment market?
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. Read More
What is the golf equipment market growth?
The global golf equipment market is expected to grow at a compound annual growth rate of 2.2% from 2019 to 2025 to reach USD 7.6 billion by 2025. R...
Which segment accounted for the largest golf equipment market share?
North America dominated the golf equipment market with a share of 54.0% in 2019. This is attributable to growing popularity of the sport in the reg...
Who are the key players in golf equipment market?
Some key players operating in the golf equipment market include Callaway, SRI sports, Acushnet Holding Corp., Taylormade, Titlesit, Mizuno, Wilson,...
What are the factors driving the golf equipment market?
Key factors that are driving the golf equipment market growth include rising consumer disposable incomes, spur in golf tourism, growing popularity...
What is the global golf equipment market?
The global golf equipment market size was valued at USD 6.51 billion in 2018 expanding at a CAGR of 2.2% over the forecast period. Rising consumer disposable income, spur in golf tourism, growing popularity of the sport, and development of golf courses across the world are some of the prominent factors driving the growth.
How many people play golf?
Golf is played by more than 60 million people, in more than 130 countries from six continents. The International Golf Federation organizes various programs and events across the world to attract millions of people of all ages to the game.
Why is golf so popular?
The growing popularity of golf among the wealthy and upper classes is expected to boost product demand in the coming years. An increase in the number of golf courses as a result of rising golf tourism could stimulate demand even more. Golf provides numerous opportunities to spend quality time and socialize.
What is the market outlook?
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
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, ...
What is the market for golf equipment?
The Global Golf Equipment market was valued at USD 6.6 Billion in 2019 and is predicted to reach USD 7.8 Billion by 2025 with a CAGR of 2.3% during the forecast period 2020-2025.
What is the growth of the golf equipment market?
The main factor driving the growth of Global Golf Equipment Market is rise in middle-class income people and increase in their disposable income which allow them to pursue golf with much more dedication. The improvement in golf tourism all over the globe with the opening of more golf clubs and different types of tournaments has also given a major boost to the growth of the golf equipment market. The development of golf courses all over the world with the help of government initiatives or private initiatives has really propelled the growth rate. Rise in the number of professional and amateur female golfers is also another factor that may positively impact the growth of the market. There are over 30,000 golf courses across the globe and almost 70% of those are easily accessible to the public. At present, globally, more than 200 golf courses are under construction and over 350 golf courses are in the planning stages. This is likely to surge demand in the global golf equipment business over the estimation period.
What is the most common equipment used in golf?
Golf clubs, golf balls, golf shoes, and others, are the most common types of equipment used in golf. The increase in golf courses all over the globe is a major positive factor for golf enthusiasts.
What is the market for golf clubs in 2019?
North America dominated the market for golf clubs with a share of 45.3% in 2019. As per R&A, in North America, 77.0% of the golf facilities are open to fee-paying golfers on a per-round basis, unlike the scenario in private facilities and clubs. This, in turn, increases the number of participants, thereby increasing the scope of golf equipment, such as clubs, in the region. According to the National Golf Foundation, in 2018, 33.5 million Americans aged 6+ have played golf both on-course and off-course.
How many people play golf in 2018?
According to the National Golf Foundation, in 2018, 33.5 million Americans aged 6+ have played golf both on-course and off-course. Asia Pacific is expected to register the fastest CAGR of 3.3% over the forecast period.
How many golfers were there in 2015?
According to a report by the National Golf Foundation (NGF), in 2015, the number of new golf players rose to about 2.5 million, nearly a 14.0% increase. This number was an all-time high, breaking the previous record of 2.4 million in 2000 when Tiger Woods was at the peak of his career. The number of golf enthusiasts has been growing significantly, ...
Why are miniature golf courses important?
Establishment of miniature golf courses to increase the inflow of patrons and endorsing it as a healthy leisure activity is contributing to the rising sales of golf clubs.
What is the market share of sporting goods?
In terms of revenue, sporting goods retailers dominated the market with a share of 47.2% in 2019. There has been increasing consumer preference for high-end golf clubs, which are generally sold at sporting goods retail stores.
What is hybrid golf?
A hybrid is a relatively newer type of club, designed with a mixture of fairway wood and iron.
Where are the most female golfers?
While the sport is more commonly played by men, the number of women golfers has increased over the past few years. As per the HSBC Golf Report, Asia holds the highest number of female golfers across the globe, wherein 6 out of the top 10 players hail from Asia.
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.
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.
What percentage of golfers take instruction through a PGA professional?
More than 75 percent of golfers who took instruction did so through a certified PGA professional. Golfers who are more skilled and more avid are more likely to seek professional instruction, while higher handicappers and adult beginners are generally less inclined to take lessons, according to the NGF report.
How many golf lessons were given in 2019?
By Rob Thomas | October 16, 2019. Photo: Brian Walters Photography. The National Golf Foundation reported that approximately 21 million total lessons were given in the past year, with men accounting for the majority. Women are more inclined to participate in group lessons, which account for a quarter of the market.
How many golfers took lessons last year?
The quest to get better led more than four million golfers to take lessons last year in the United States, the National Golf Foundation (NGF) reported, a figure that represents almost 17 percent of the overall participation base.
What percentage of golfers shoot above 90?
That said, because approximately two-thirds of golfers shoot average scores above 90, less-skilled golfers represent the largest share of instruction revenue, whether from PGA and LPGA professionals at a private club, public facility or driving range, or certified teachers at golf schools and dedicated instruction centers like GOLFTEC.
Do women take golf lessons?
Women, however, are more likely to take lessons. While 14 percent of male golfers took some form of professional instruction in the past year, that percentage jumps to one-quarter of all female golfers. Additionally, women are much more inclined to participate in group lessons, which account for 25 percent of the golf instruction market.
Global Golf Equipment Market Definition
Global Golf Equipment Market Overview
Global Golf Equipment Market: Segmentation Analysis
Golf Equipment Market, by Product
Golf Equipment Market, by Distribution Network
Golf Equipment Market, by Geography
- • North America • Europe • Asia Pacific • Rest of the world On the basis of Geography, the Global Golf Equipment Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Due to the growing popularity of the sport in the region, North America was expected to be the largest market in 2018. With a share of 57.0 percent...
Key Players
Report Scope