Golf Equipment Market Size - By Product Type (Golf Club, Golf Balls, Golf Gear Golf Footwear & Apparel), By Distribution, By Price & Global Forecast, 2024-2032

Golf Equipment Market Size

Golf Equipment Market size was valued at USD 7.1 billion in 2023 and is anticipated to register a CAGR of over 4.5% between 2024 and 2032.
 

The global popularity of golf as a recreational and competitive sport continues to rise. This increased interest has led to a greater demand for golf equipment, from clubs and balls to apparel and accessories. As more people take up the sport or engage in it more frequently.
 

The Golf competes with a wide range of other leisure activities for people’s time and money. It faces competition from sports, video games, and various recreational options. In addition Zoning regulations and land use policies can impact the construction and expansion of golf courses.
 

COVID-19 Impact

The pandemic forced the cancellation or postponement of numerous golf events and tournaments. This affected the visibility and marketing opportunities for golf equipment brands, as well as their sales associated with these events. In addition, Golf courses and facilities had to implement safety protocols, which included measures like sanitizing golf equipment, limiting touchpoints, and ensuring social distancing.
 

Golf Equipment Market Trends

The Golf equipment manufacturers continued to integrate advanced technology into their products. This included sensors, GPS, and data analytics to provide golfers with real-time feedback on their performance, club recommendations, and course management tools. In addition, The golf industry recognized the importance of making the sport more accessible to beginners and casual players. This led to the development of more forgiving clubs and training aids to help newcomers enjoy the game.
 

Golf Equipment Market Analysis

Based on product the golf club dominated the market with USD 2.96 billion in the year 2022. The trend of personalization has significantly impacted the golf club market. Golfers increasingly desire equipment tailored to their unique preferences and swing characteristics. Manufacturers now offer a wide range of customization options, including adjustable hosels, various shaft options, and clubhead designs. This personalization allows golfers to optimize their clubs for maximum performance and comfort, making the golf club market more appealing to a broader range of players.
 

Based on distribution channel the retail golf equipment market dominated the segment with 54.3% revenue share in 2022. The evolution of e-commerce has had a significant impact on the retail market for golf equipment. Online retail allows consumers to browse a wide range of golf equipment, compare prices and features, and make purchases from the comfort of their homes. The convenience and accessibility of online shopping have led to increased sales in the market.
 

Based on price the middle price range dominated the segment with the highest revenue share of 48.1% in 2022. There is a growing demand for equipment that strikes a balance between quality and affordability. Golfers are looking for clubs, balls, and accessories that offer decent performance without breaking the bank, making the middle price range a lucrative segment for manufacturers and retailers. Additionally, advancements in technology and materials have allowed golf equipment manufacturers to produce mid-range products that deliver performance and features traditionally associated with high-end equipment. This means that golfers can now find clubs with innovative designs, forgiving forgiveness, and distance-enhancing technology in the middle price range.
 

The North America dominated the regional segment with the highest golf equipment market share of USD 3.3 Billion in 2022 attributed to well-established golf culture and infrastructure with a dense network of golf courses and facilities. This abundance of courses provides easy access for both experienced players and newcomers, fostering interest and participation in the sport. In addition, the region has a large and diverse population, including a significant middle-aged demographic with the time and disposable income to invest in golf as a leisure activity. This demographic, drawn by the health and social benefits of golf.
 

Golf Equipment Market Share

Major companies operating in the Golf Equipment Industry includes:

• Callaway Golf Company
• TaylorMade Golf Company
• Acushnet Holdings Corporation (Titleist)
• Bridgestone Corporation
• Mizuno Corporation
• Wilson Sporting Goods
• PING Inc.
• SRI Sports Limited (Dunlop, Cleveland, Srixon)
• Nike, Inc.
• Yonex Co., Ltd.
• Cobra Golf

The market players are undergoing various strategic initiatives, such as mergers and acquisitions, partnerships, collaborations.
 

Nike is a multinational corporation engaged in the design, development, manufacturing, and marketing of athletic footwear, apparel, equipment, and accessories. The company is one of the world's largest and most recognizable athletic brands, known for its iconic "Swoosh" logo. Nike offers a wide range of products across various sports and activities, including but not limited to running, basketball, soccer, golf, tennis, and outdoor sports.
 

Golf Equipment Industry News

In April 2023 Nike, Inc acquired Letsrun.com, this acquisition is expected to increase the online presence of the brand.
 

The Golf Equipment Market research report includes in-depth coverage of the industry with estimates & forecast in terms of transactional value (USD Billion) and transactional volume (Kilo Tonnes) from 2018 to 2032, for the following segments:

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 By Product Type

• Golf Club
• Golf Balls
• Golf Gear
• Golf Footwear & Apparel

By Distribution Channel

• Retail
• Online
• Specialty stores
• Others

By Price

• Low
• Mid
• High

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Australia
  • Malaysia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Egypt