What is the market size of the Golf Club industry?
Report Overview 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.
What is the forecast period of Golf Club market research report?
According to PMR’s report, the golf club market is estimated to register a CAGR of 1.3% during the forecast period of 2019-2029. North America holds the largest market share for golf clubs, followed by East Asia. East Asia golf clubs sales are dominated by Japan, which has a large number of golf courses.
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.
Which region is expected to register the highest CAGR in golf market?
Asia Pacific is expected to register the highest CAGR owing to the growing population, disposable income, and extensive urbanization.The region is estimated to have over 6,600 golf courses with another approximately 180 new projects currently in development. It accounted for over 27% of global market share in terms of revenue in 2017.
Who has the biggest market share in golf?
North America dominated the market for golf clubs with a share of 45.3% in 2019....Some of the prominent players in the golf club market include:Callaway Golf Company.Acushnet Holdings Corp.PING.Sumitomo Rubber Industries, Ltd.TAYLORMADE GOLF COMPANY, INC.MIZUNO Corporation.Amer Sports.Bridgestone Corporation.More items...
How big is the golf industry market?
The U.S. golf course industry alone is worth over $26 billion as of 2022. 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.
What is the best selling golf brand?
What are the most popular golf brands?Callaway.TaylorMade.Titleist.Ping.Nike Golf.Cleveland.Mizuno.Cobra.More items...
Is golf losing its 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.
How much is the 2020 golf industry?
The US golf industry statistics show that the country clubs & golf courses boasted quite the income. According to IBISWorld's report from 2020, the market was worth $25,362.5 million that year, and it is expected to keep growing.
How many golfers are in the world in 2018?
The NGF also counts total golf participants by factoring in off-course experiences as well, and that number swelled the overall count to 36.9 million, up 8 percent year-over-year and a near 20 percent gain in the last five years.
What is the number 1 brand in golf?
1. Titleist. The makers of the Pro-V1—the most widely played golf ball on tour—Titleist also have more top-50 golfers on its books than any other manufacturer.
What are the top 5 golf clubs?
AT A GLANCE#1 – Callaway Strata – (Best Choice Set)#2 – Taylormade RBZ Set – (Best Premium Set)#3 – MacGregor Golf DCT3000 Set – (Best Budget Set)#4 – Wilson Platinum Profile – (Best Value Set)#5 – Ping G400 Irons – (Best Used Clubs For The Money)#6 – Taylormade RBZ Driver – (Best Driver For The Money)More items...
Is Callaway Golf in trouble?
Based on this revelation – that went supernova-viral among the golf community – Callaway was forced to admit to manufacturing mistakes and invest $50 million into fixing the problem. This is a good time to talk about Brand Permission. Callaway may have lost their Brand Permission to make golf balls.
Why is golf in decline?
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.
Are golf courses dying out?
First some stats: The number of golfers in the US continues to decline — there were approximately 26 million golfers in 2016 compared to almost 30 million in 2006; The number of golf courses in the US is declining — there were 15,372 courses in 2015 vs. a peak of more than 16,000 just a few years ago.
Is golf dying in America?
Golf is not a dying sport. The increase in rounds played in 2021 from 2020 during the pandemic, and increased numbers of people going to golf facilities like Topgolf is a clear sign that interest and participation in the game is far from waning, especially with ladies and juniors.
How much money does the golf industry generate per year?
The game is big business, directly driving $84.1 billion in economic activity across the U.S. in 2016, according to a study commissioned by the World Golf Foundation. The findings reflect a 22% increase from $68.8 billion in 2011, the last time the U.S. Golf Economy Report was released.
How many people play golf in the world?
66.6 million people66.6 million people are playing the sport worldwide, according to new research released by The R&A and Sports Marketing Surveys.
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.
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.
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, ...
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.
What is hybrid golf?
A hybrid is a relatively newer type of club, designed with a mixture of fairway wood and iron.
How big is the golf market in 2025?
The professional golf segment dominated the market in 2017 and is expected to attain a market size exceeding USD 800 million by 2025. High popularity and substantial investment by various organizations, governments, and other investors are accredited to this expansion. Several golf associations are collaborating by organizing numerous events ...
What is the golf ball market?
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. Governments across the world organize tournaments, workshops, and construction of professional golf courses to encourage tourism. This is also attributed to market growth over the forecast period.
Why is golf so popular?
Golf is increasingly becoming popular as a leisure activity in recent times, owing to rising disposable income of the middle-class population, construction of new golf courses, and substantial government investments and initiatives for the promotion of tourism for this sport.
Why is golf considered a lifestyle sport?
It presents a sense of competition and an avenue for physical exercise apart from being a source of entertainment. Several countries encourage tourism by organizing golfing events to attract both international and domestic tourists.
What competitions require golf balls?
Competitions, both professional and amateur, for instance, the PGA Tour, U.S. Open, and the Masters , require the use of various types of golf balls, which creates additional demand. This is ultimately expected to contribute to the overall growth of golf ball market.
Golf Cart Market Sales Size Share Forecast 2027
On the basis of geography, the global golf cart market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all of these regions, North America accounted around 53% market share in the global golf cart market in 2018 and is expected to grow at a CAGR of XX% over the forecast period from 2019 to 2027.
List of golf equipment manufacturers - Wikipedia
Perfect Club Golf by SPike Golf LLC; PING; Pinnacle Golf, a brand of Acushnet, a subsidiary of Fila; Polara Golf; ... List of disc golf brands and manufacturers This page was last edited on 9 August 2020, at 04:34 (UTC). Text is available under the Creative Commons Attribution ... More ›
The Evolution of the Golf Equipment Industry - True Spec Golf
In the USA rounds are declining, courses are closing, and the numbers of golfers actively playing decreases from year to year; thus the market for golf equipment continues to slow as well. This has made for an extremely competitive marketplace, where 20 or so manufacturers battle their way to increase market share. More ›
KEY MARKET INSIGHTS
Golf is widely popular among the middle-aged as well as elderly population worldwide. Such consumers largely avail of golf tour services as they can enjoy their vacations playing golf. Rising outdoor leisure activity trends among such consumers are primarily supporting the demand for such services.
Key Players Covered
The prominent players associated with the global golf tourism market are GolfHolidays.com, Golfbreaks Ltd., INTA International, Direct Golf Holidays, Celtic Golf, Haversham & Baker Golf Expeditions, Kalos Golf, PerryGolf, SGF Golf Inc., SOPHISTICATED GOLFER, and others.
Regional Analysis
By geography, the global golf tourism market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Key Industry Developments
In November 2020, The PGA Tour, a U.S. professional golf tour operator acquired a minority stake of European Tour Media Company to expand its business to the men’s professional golf segment worldwide.
Which region is leading the golf cart market?
A. North America region is leading the market presently in terms of revenue. However, Asia-Pacific region is expected to provide more business opportunities for the key players operating in the global golf cart market.
How much is the golf cart market worth?
A. The global golf cart market was valued at $1.35 billion in 2020, and is projected to reach $1.79 billion by 2028, registering a CAGR of 3.9% from 2021 to 2028
What are the key growth strategies adopted by the golf cart industry players?
A. The key growth strategies adopted by the golf cart industry players includes product launch, business expansion, collaboration. These strategies opted by various industry players is leading to the growth of the golf cart market as well as the players.
Why are golf courses closed?
Amid COVID-19 pandemic, golf courses were being forced to remain closed due to lockdown and social distancing measures, resulting in sharp drop in number of rounds played at the beginning of 2020, which resulted in decline in sales of golf carts.
How many golfers will be there in 2020?
In 2020, the U.S.NGF (National Golf Foundation) witnessed ~24.8 million golfers in the U.S., representing a rise of nearly 2% or 500,000 compared to 2019, the largest net increase recorded in 17 years. Increase in number of golf courses is supported by rise in number of people, who have inclined interest toward golf.
Is solar golf cart a growth market?
Solar golf cart is expected to witness fastest growth in the global golf cart market during the forecast period. Stringent government rules and regulations toward vehicle emission and rise in investment on building golf cart across the globe drive its demand in the market.
Does golf cart demand increase?
This directly boosts growth in demand for golf carts. In addition, there is an increase, though at a slower rate of around 15, in the number of country clubs and golf courses in the U.S. Further, increase in disposable income leads to rise in expenditure of recreational time and discretionary income of the population.
INSIGHTS BY PRODUCTS TYPE
The golf clubs, apparel, and shoe segments are expected to dominate the golf industry in the coming. The rising affinity of affinity of people toward the adoption of golf products is boosting the market growth. These clubs comprise the maximum revenue share, and the segment is expected to continue its lead during the forecast period.
INSIGHTS BY END-USERS
Sport in general and golf, in particular, remains a male-dominated activity. This is changing slowly as women's participation in sporting events is witnessing considerable increase; however, the strong prevalence of male players is here to stay. Moreover, the number of tournaments serving men participants has been high.
INSIGHTS BY DISTRIBUTION CHANNELS
The distribution environment is rapidly evolving with systems and processes being upgraded at a rapid pace. This is expected to improve efficiencies and open up to new opportunities. Golf equipment are sold through a wide range of retail distribution channels.
INSIGHTS BY GEOGRAPHY
North America is likely to account for a major share of the market due to the growing affinity and an increase in the popularity of the sport during the forecast period. Japan, South Korea, China, Australia, Thailand, and India are the major countries where golf equipment are witnessing a surge.
KEY VENDOR ANALYSIS
The market remains a highly competitive one, with the nicely poised environment for vendors to pitch in and maximize upon. Vendors are currently competing on a wide range of factors such as pricing, product innovation, new product development, sales & promotional strategies, distribution network, player associations, and sponsorships.
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.
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.
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.
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, ...
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 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 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.