New York, United States, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a global Consumer Goods & Services market research firm, has published a competitive intelligence and market research report on the “Golf Equipment Market“. The Golf Equipment market size was valued at USD 8.15 Bn in 2021. The total Golf Equipment Market revenue is expected to grow at a CAGR of 4.09 percent from 2022 to 2029, reaching nearly USD 11.23 Bn during the forecast period.
| Market Size in 2021 | USD 8.15 Bn |
| Market Size in 2029 | USD 11.23 Bn |
| CAGR | 4.09 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 274 |
| No. of Tables | 126 |
| No. of Charts and Figures | 130 |
| Segment Covered | By Product and Distribution channel |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
Increasing number of young participants to drive the Golf Equipment Market Growth
Increased number of youngsters playing golf has substantially increased the purchase of golf kits over the last decade. People joining the golf court and especially young participants are expected to drive the Golf Equipment market growth. Rapid increase in media exposure due to international golf events has driven the popularity of the golf sport. Media exposure inspires the young generation to grab their attention towards outdoor sports, including golf and the increase in number of female golfers are the factor influencing the Golf Equipment Market growth.
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Busy schedule of the young generation likely to play indoor games and impeding the demand for the gulf equipment is a restraining as well as the challenging factor for the Golf Equipment market. Growth in the middle-class population and the rising trend of golf tourism is expected to present an opportunity for the Golf Equipment Market globally.
North America the most alluring market for the Golf Equipment market during the forecast period
Regions increasing customer preference for a modern lifestyle is driving the Golf Equipment Market growth in North America. Necessary adjustments for the production procedures and golf custom fitting are made available by the manufacturers. US held 43 percent of the total golf equipment market sales in the region in 2021. UK, Japan, Germany, Canada, South Korea, Sweden, France, and Italy are the major suppliers of Golf Equipment in the region, with 50 percent of golf courses in the region.
The Asia Pacific region is expected to witness significant growth in the Golf Equipment Market due to the increased adoption of sports in the region.
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Golf Equipment Market Segmentation
By Product Type, Golf ball segment is the main contributing product in the industry
Golf balls held 70 percent of market share including rubber core and a plastic outer shell, which are the two-piece ball. Balls are fully stoked by the manufacturers for major tournaments. Innovation and technological processes are done by the manufacturers for better performance and quality golf balls.
By Product:
- Golf Clubs
- Golf Shoes
- Golf Balls
- Others
By Distribution Channel:
- Offline
- Online
Key Companies covered in the Golf Equipment Market are:
- Acushnet Holding Corp. (US)
- TaylorMade Golf Company, Inc. (US)
- Dixon Golf, Inc. (US)
- Roger Cleveland Golf Company, Inc. (US)
- True Temper (US)
- Mizuno USA (US)
- Wilson (US)
- Miura Golf Inc (US)
- Nike, Inc (US)
- callway golf company (US)
- Cobragolf.com (US)
- Yamaha Golf (US)
- Bettinardi Golf (US)
- Cure Putters (US)
- Bridgestone Golf (US)
- Birton Golf, Inc. (US)
- Dunlop Sports (US)
- Golf Galaxy (US)
- Volvik (US)
- Robin Golf Inc. (US)
- Penfold Golf (UK)
- Srixon Sports Europe Ltd. (UK)
- Piranha Golf (Australia)
- Amer Sports (Finland)
- Nexen Corporation (South Korea)
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Miura Golf Inc (US)
Miura has been making the world’s finest forged golf clubs since 1957. Each club is individually made using Miura’s patented forging process. While design preference is personal to each player, Miura forged irons have always been created using two underlying design principles: the technical design and transitional design. Miura is able to produce impeccable designs that strengthen the integrity of the game of golf. 27.8 Billion was the total equipment revenue of the company in 2022.
Dixon Golf, Inc. (US)
Dixon Golf's day-to-day operations reflect its environmental mission. The office only uses Green Works and Sustainable Earth products that can be recycled in their paper. All golf gear presented by Dixon Golf have eco-friendly attributes. Golf balls are comprised of heavy earth salts rather than heavy metal fillers and hats are made from bamboo or an organic cotton that is not chemically treated. 65.6 Million was the total revenue of the company in 2021.
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by product and distribution channel
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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Key questions answered in the Golf Equipment Market are:
- What is Golf Equipment?
- What is the current growth rate of the Golf Equipment Market?
- What factors are influencing the Golf Equipment Market growth?
- What are the restraining factors of the Golf Equipment market?
- Who are the major players in the Golf Equipment Market?
- Who held the largest market share in Golf Equipment Market?
- What segments are covered in the Golf Equipment Market?
- What are the challenges in the Golf Equipment Market?
- What are the opportunities in the Golf Equipment Market?
- What are the developments in the sports industry expected to influence the Golf Equipment Market?
Maximize Market Research is leading Consumer Goods & Services research firm, has also published the following reports:
Golf Club and Sets Market: The total market size was valued at USD 3.52 Bn in 2021 and is expected to reach USD 4.85 Bn by 2029, growing at a CAGR of 4.1 percent during the forecast period. The emerging trend of golf tourism because of the presence of numerous golf courses across the world is expected to drive market growth.
Golf Shoes Market: The total market size was valued at USD 811.36 Mn in 2021 with a CAGR of 4 percent reaching 1110.4 Mn by 2029. An increase in the number of individuals opting to play golf all over the world is expected to drive market growth.
Outdoor Equipment Market: The total market size was valued at USD 23.21 Bn in 2021 and the total revenue is expected to grow at 3.6 percent through 2022 to 2029, reaching nearly USD 30.80 Bn by 2029. Consumers’ preference for green spaces such as gardens and lawns is expected to drive the market growth.
Casino Gaming Equipment Market: The total market size was valued at USD 12.27 Bn in 2021, and is expected to reach USD 18.97 Bn by 2029, exhibiting a CAGR of 5.6 percent during the forecast period (2022-2029). Improved customer experience and the ability to draw demand from millennials is expected to drive market growth.
Turf Care Equipment Market: The total market size was valued at USD 11.08 Bn in 2021 and is expected to reach USD 19.91 Bn by 2029, exhibiting a CAGR of 7.6 percent during the forecast period (2022-2029). Growing Demand for DIY Landscaping Projects across the world is expected to drive market growth.
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