What are the top 5 countries driving demand for golf clubs?
The top 5 countries driving demand include the UK< France, Germany, the US, and Italy. What is North America’s market Outlook? North America holds more than 30% of the entire market. At what percentage golf club is going to register growth in Europe?
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 driving the golf industry in the hospitality industry?
The market is majorly driven by the growing popularity and adoption of golf as an active sport. Moreover, premium resorts and hotels are incorporating sporting activities in their hospitality facilities, golf being one of them.
What are the key players operating in the Golf Club market?
Key players operating in the market are focusing on strategic initiatives, such as new product launches, acquisitions, and partnerships, in order to drive revenue growth and reinforce their position in the global market. Some of the prominent players in the golf club market include:
How big is the golf club market?
The golf club market size was estimated at USD 3,658.6 million in 2019 and is expected to reach USD 3,684.2 million in 2020. Read More
What is the golf club market growth?
The golf club market is expected to grow at a compound annual growth rate of 2.5% from 2020 to 2027 to reach USD 4,447.9 million by 2027. Read More
Which segment accounted for the largest golf club market share?
North America region dominated the golf club market with a share of 45.3% in 2019. This is attributable to the growing consumer interest in golf as...
Who are the key players in the golf club market?
Some key players operating in the golf club market include Callaway Golf Company; Acushnet Holdings Corp.; PING; and Sumitomo Rubber Industries, Lt...
What are the factors driving the golf club market?
Key factors that are driving the market growth include the rising number of golfers and the growing trend of developing golf courses by hotels. Rea...
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 is the golf club market?
Golf Club Market is segmented by Products that is Golf Clubs Drivers, Golf Clubs Fairways, Golf Clubs Hybrids, Golf Clubs Irons, Golf Clubs Wedges, Golf Clubs Putters also by hand orientations that is Left-handed Clubs, Right-handed Clubs and by its price that is Premium or High, Economy or Mid-range.
Why should manufacturers focus on lightweight golf clubs?
Manufacturer could focus on lightweight golf clubs, owing to increased participation of female golfers and amateurs across the world.
How have golf clubs evolved?
Golf clubs have evolved immensely with time and technology. At present, golf club manufacturers are focused on technology-based golf clubs that are also lightweight. The usage of smart sensors aids swings and accuracy, and allows the golf club to be connected with a smartphone app.
What is golf customization?
Golf customization is another technology that analyses thousands of combinations to figure out what is right for each player. It analyses players’ swing speed to angle of impact. Such innovative technologies are expected to push the growth of the golf club market over the coming years.
What age group plays golf?
Golf is gaining traction among all consumer demographics, especially females. Gen-x (age 39 to 54) and baby boomers (age 55 to 73 ), are considered as the primary driver for golf as a sport, and these groups prefer to play with lightweight golf clubs.
Who manufactures golf clubs?
Key manufacturers in the golf club market such as Acushnet Holdings Corp., Callaway Golf Company, and TaylorMade Golf Company, Inc. are prioritizing innovation and new product development to gain a competitive edge in the market.
Which country has the largest golf clubs market?
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. Moreover, golf club manufacturing companies in Japan have high concentration as compared to other East Asian countries.
What is a clubhouse?
place located in a country-like setting with open areas and lots of green space that has a standard meeting facility: clubhouse where members go to enjoy sports and sportsmanship , engage in activities for pursuit of happiness, develop friendships, co-mingle with friends and like-minded individuals
Is a club a non-profit?
clubs owned by the members and typically have a non-profit status
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.
When did golf become a sport?
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 .
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 is the titleist golf ball?
It is a multilayer, thermoplastic urethane-covered golf ball, providing exceptional distance in the long game and precise short game control.
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.
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, ...
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 ...
Is golf tourism growing?
With the substantial growth of the golf tourism industry, the market is anticipated to have a positive outlook in the coming years. European countries are expected to invest heavily in the infrastructural enhancements pertaining to the game and host many international golf events and competitions.
What is the golf community looking for in the future?
HSBC’s report has highlighted that the golfing community is looking to become a model in areas such as water management, conservation, and biodiversity. Additionally, the concept of carbon positive courses is expected to gain more traction.
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.
How many hours of golf is the PGA Tour?
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 2022 expectations, golfers can expect the overall trend of increased coverage of tournaments and an increased social media presence to continue in the coming years. Whether it is Instagram, Tik Tok, or Facebook, the PGA is seeking to cultivate the younger members of the population into the next generation of golfers.
How many millennials play 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.
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 generation is the biggest fan of technology in golf?
As will be discussed in further detail in this article, millennials and generation z are starting to influence the food and beverages offered at the local course and have been the biggest fans of the use of technology to improve the golfing experience.