The global golf club and sets market was valued at $3,371.9 million in 2021, and is projected to reach $4,851.8 million by 2031, registering a CAGR of 3.9%. Golf is a sport activity popular among business individuals as it is used as a means to offer closure of business deals. Golf clubs & sets consists of various items that are essential to play the sport of golf, and are also crucial in providing an enriched experience to the player. Golf clubs & sets include golf balls, golf shoes, golf clubs, and other aids such as wedges and putters.
The emergence of golf tourism is fostering the market growth of gold clubs and sets. In addition, golf tourism refers to the trips undertaken by people with the purpose of playing golf. According to the International Association of Golfing Tour Operators (IAGTO), the global golf tourism market was valued at more than $17 billion in 2018, out of which the U. S. is reported to be the largest market in terms of golf as a sport. However, UK, Japan, and Australia, along with the U. S., have witnessed stagnation in terms of number of dedicated golfers, because the change in interest of youth towards other sports and the aging retired population is now taking up this sport as a recreational activity. Asia and Middle East are witnessing fastest rates in the global golf tourism market. Growth in middle-class population and increase in investments in infrastructure to support the game drive the growth of the golf sector.
Increase in interest of consumers in leisure activities other than sports such as movies, musical concerts, virtual gaming, and others restrains the growth of the market. Conversely, increase in participation of various organizations in donation of these equipment to emerging sport enthusiasts and athletes with poor financial background is anticipated to provide lucrative opportunity for the market. For instance, Sports Gift, Let’s Play It Forward, Global Sports Foundation, and One World Play Project are some of the well-known organizations that support the sports equipment donation process. Thus, rise in distribution of sports equipment through online retail platform is anticipated to boost the market growth in near future.
However, the middle-class population does not opt for golf as a first game, owing to its expensive club memberships and highly priced courses, thus impeding the market growth. For instance, the average price for an 18-hole game is around $135-$150 per round, due to which most of the players cannot afford it. The high cost of golf course construction has also led to the high prices of newer golf courses. This leads to decreased registrations, thereby restricting the market growth. Furthermore, currently, many employees are made to work for 60 hours a week, which not only affects their work productivity, but also deprives them to provide time for sports courses, including golf. Thus, busy work schedules hamper the golf memberships, thus acting as a restraint for the global market.
E-commerce or online store is a huge platform growing at a tremendous rate worldwide. Consumers of every age, including generation X, millennial, or generation Z prefer to shop from e-stores. This is attributed to the fact that online shopping is more convenient as compared to shopping at physical stores, due to rise in number of retailers focusing on e-commerce, thus making it convenient for consumers. Furthermore, increase in penetration of internet and rise in percentage of population inclining toward online shopping are expected to provide potential opportunity for the golf clubs & sets manufacturers to sell their existing as well as novel products through online platform, thus making them easily available for consumers and increasing consumer awareness about their products.
In addition, various big brands are entering the untapped markets where lack of availability of sports facilities and products is witnessed. These key players are setting up sports facilities, sports centers, and play grounds, and correspondingly promoting their products. Likewise, various organizations and NGOs are donating the golf equipment and apparel, building sports facilities, conducting free of cost sports competitions, and training the potential players free of cost. Moreover, developing interest of the young population in sports is anticipated to offer potential opportunities to the market in the near future. These factors altogether significantly contribute toward the growth of the market in untapped regions.
The golf clubs & sets market is segmented on the basis of type, application, distribution channel and region. By type, the market is categorized into woods, irons, hybrids, wedges and putters. In terms of application, it is divided into leisure, professional and others. On the basis of distribution channel, the market is classified into specialty stores, sporting goods chain, on-course shops, online stores and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
According to the market players, the major obstacle attributed to the pandemic was the disruption of the supply chain. Furthermore, all the Distribution Channel were nearly shut down in the first quarter of the pandemic. However, online channels such as amazon and flipkart were delivering the products. They key players included in the racket sports equipment market analysis are Acushnet Holdings Corp., Adidas AG, Amer Sports, Bridgestone Corporation, Callaway Golf Company, DICK'S Sporting Goods, Inc., Dixon Golf, Inc., Nike, Inc., Sumitomo Rubber Industries, Ltd, Robin golf, Ping, Inc, Bettinardi Golf, Cobra Golf, Pen fold Golf Limited, McGregor Golf, Hippo Golf, and Infiniti Golf.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the golf club and sets market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global golf club and sets market trends, key players, market segments, application areas, and market growth strategies.
The emergence of golf tourism is fostering the market growth of gold clubs and sets. In addition, golf tourism refers to the trips undertaken by people with the purpose of playing golf. According to the International Association of Golfing Tour Operators (IAGTO), the global golf tourism market was valued at more than $17 billion in 2018, out of which the U. S. is reported to be the largest market in terms of golf as a sport. However, UK, Japan, and Australia, along with the U. S., have witnessed stagnation in terms of number of dedicated golfers, because the change in interest of youth towards other sports and the aging retired population is now taking up this sport as a recreational activity. Asia and Middle East are witnessing fastest rates in the global golf tourism market. Growth in middle-class population and increase in investments in infrastructure to support the game drive the growth of the golf sector.
Increase in interest of consumers in leisure activities other than sports such as movies, musical concerts, virtual gaming, and others restrains the growth of the market. Conversely, increase in participation of various organizations in donation of these equipment to emerging sport enthusiasts and athletes with poor financial background is anticipated to provide lucrative opportunity for the market. For instance, Sports Gift, Let’s Play It Forward, Global Sports Foundation, and One World Play Project are some of the well-known organizations that support the sports equipment donation process. Thus, rise in distribution of sports equipment through online retail platform is anticipated to boost the market growth in near future.
However, the middle-class population does not opt for golf as a first game, owing to its expensive club memberships and highly priced courses, thus impeding the market growth. For instance, the average price for an 18-hole game is around $135-$150 per round, due to which most of the players cannot afford it. The high cost of golf course construction has also led to the high prices of newer golf courses. This leads to decreased registrations, thereby restricting the market growth. Furthermore, currently, many employees are made to work for 60 hours a week, which not only affects their work productivity, but also deprives them to provide time for sports courses, including golf. Thus, busy work schedules hamper the golf memberships, thus acting as a restraint for the global market.
E-commerce or online store is a huge platform growing at a tremendous rate worldwide. Consumers of every age, including generation X, millennial, or generation Z prefer to shop from e-stores. This is attributed to the fact that online shopping is more convenient as compared to shopping at physical stores, due to rise in number of retailers focusing on e-commerce, thus making it convenient for consumers. Furthermore, increase in penetration of internet and rise in percentage of population inclining toward online shopping are expected to provide potential opportunity for the golf clubs & sets manufacturers to sell their existing as well as novel products through online platform, thus making them easily available for consumers and increasing consumer awareness about their products.
In addition, various big brands are entering the untapped markets where lack of availability of sports facilities and products is witnessed. These key players are setting up sports facilities, sports centers, and play grounds, and correspondingly promoting their products. Likewise, various organizations and NGOs are donating the golf equipment and apparel, building sports facilities, conducting free of cost sports competitions, and training the potential players free of cost. Moreover, developing interest of the young population in sports is anticipated to offer potential opportunities to the market in the near future. These factors altogether significantly contribute toward the growth of the market in untapped regions.
The golf clubs & sets market is segmented on the basis of type, application, distribution channel and region. By type, the market is categorized into woods, irons, hybrids, wedges and putters. In terms of application, it is divided into leisure, professional and others. On the basis of distribution channel, the market is classified into specialty stores, sporting goods chain, on-course shops, online stores and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
According to the market players, the major obstacle attributed to the pandemic was the disruption of the supply chain. Furthermore, all the Distribution Channel were nearly shut down in the first quarter of the pandemic. However, online channels such as amazon and flipkart were delivering the products. They key players included in the racket sports equipment market analysis are Acushnet Holdings Corp., Adidas AG, Amer Sports, Bridgestone Corporation, Callaway Golf Company, DICK'S Sporting Goods, Inc., Dixon Golf, Inc., Nike, Inc., Sumitomo Rubber Industries, Ltd, Robin golf, Ping, Inc, Bettinardi Golf, Cobra Golf, Pen fold Golf Limited, McGregor Golf, Hippo Golf, and Infiniti Golf.
KEY BENEFITS FOR STAKEHOLDERS
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the golf club and sets market analysis from 2021 to 2031 to identify the prevailing golf club and sets market opportunities.The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the golf club and sets market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global golf club and sets market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
- Lesuire
- Professional
- Others
By Type
- Woods
- Irons
- Hybrids
- Wedges
- Putters
By Distribution Channel
- Specialty Stores
- Sporting Goods Chain
- On-course Shops
- Online Stores
- Others
By Region
- North America
- U. S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Singapore
- Thailand
- Malaysia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Acushnet Holdings Corp.
- Adidas AG
- Amer Sports
- BRIDGESTONE CORPORATION
- Callaway Golf Company
- DICK'S Sporting Goods, Inc.
- Dixon Golf, Inc.
- Nike, Inc.
- Sumitomo Rubber Industries, Ltd
- Robin golf
- Ping, Inc
- bettinardi golf
- Cobra Golf
- Pen fold Golf Limited
- McGregor Golf
- Hippo Golf
- Infiniti Golf
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Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: GOLF CLUB AND SETS MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Woods
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Irons
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Hybrids
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Wedges
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country
4.6 Putters
4.6.1 Key market trends, growth factors and opportunities
4.6.2 Market size and forecast, by region
4.6.3 Market analysis by country
CHAPTER 5: GOLF CLUB AND SETS MARKET, BY APPLICATION
5.1 Overview
5.1.1 Market size and forecast
5.2 Lesuire
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Professional
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Others
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
CHAPTER 6: GOLF CLUB AND SETS MARKET, BY DISTRIBUTION CHANNEL
6.1 Overview
6.1.1 Market size and forecast
6.2 Specialty Stores
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Sporting Goods Chain
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
6.4 On-course Shops
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market analysis by country
6.5 Online Stores
6.5.1 Key market trends, growth factors and opportunities
6.5.2 Market size and forecast, by region
6.5.3 Market analysis by country
6.6 Others
6.6.1 Key market trends, growth factors and opportunities
6.6.2 Market size and forecast, by region
6.6.3 Market analysis by country
CHAPTER 7: GOLF CLUB AND SETS MARKET, BY REGION
7.1 Overview
7.1.1 Market size and forecast
7.2 North America
7.2.1 Key trends and opportunities
7.2.2 North America Market size and forecast, by Type
7.2.3 North America Market size and forecast, by Application
7.2.4 North America Market size and forecast, by Distribution Channel
7.2.5 North America Market size and forecast, by country
7.2.5.1 U. S.
7.2.5.1.1 Market size and forecast, by Type
7.2.5.1.2 Market size and forecast, by Application
7.2.5.1.3 Market size and forecast, by Distribution Channel
7.2.5.2 Canada
7.2.5.2.1 Market size and forecast, by Type
7.2.5.2.2 Market size and forecast, by Application
7.2.5.2.3 Market size and forecast, by Distribution Channel
7.2.5.3 Mexico
7.2.5.3.1 Market size and forecast, by Type
7.2.5.3.2 Market size and forecast, by Application
7.2.5.3.3 Market size and forecast, by Distribution Channel
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Type
7.3.3 Europe Market size and forecast, by Application
7.3.4 Europe Market size and forecast, by Distribution Channel
7.3.5 Europe Market size and forecast, by country
7.3.5.1 UK
7.3.5.1.1 Market size and forecast, by Type
7.3.5.1.2 Market size and forecast, by Application
7.3.5.1.3 Market size and forecast, by Distribution Channel
7.3.5.2 Germany
7.3.5.2.1 Market size and forecast, by Type
7.3.5.2.2 Market size and forecast, by Application
7.3.5.2.3 Market size and forecast, by Distribution Channel
7.3.5.3 France
7.3.5.3.1 Market size and forecast, by Type
7.3.5.3.2 Market size and forecast, by Application
7.3.5.3.3 Market size and forecast, by Distribution Channel
7.3.5.4 Spain
7.3.5.4.1 Market size and forecast, by Type
7.3.5.4.2 Market size and forecast, by Application
7.3.5.4.3 Market size and forecast, by Distribution Channel
7.3.5.5 Italy
7.3.5.5.1 Market size and forecast, by Type
7.3.5.5.2 Market size and forecast, by Application
7.3.5.5.3 Market size and forecast, by Distribution Channel
7.3.5.6 Rest of Europe
7.3.5.6.1 Market size and forecast, by Type
7.3.5.6.2 Market size and forecast, by Application
7.3.5.6.3 Market size and forecast, by Distribution Channel
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Type
7.4.3 Asia-Pacific Market size and forecast, by Application
7.4.4 Asia-Pacific Market size and forecast, by Distribution Channel
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 China
7.4.5.1.1 Market size and forecast, by Type
7.4.5.1.2 Market size and forecast, by Application
7.4.5.1.3 Market size and forecast, by Distribution Channel
7.4.5.2 India
7.4.5.2.1 Market size and forecast, by Type
7.4.5.2.2 Market size and forecast, by Application
7.4.5.2.3 Market size and forecast, by Distribution Channel
7.4.5.3 Japan
7.4.5.3.1 Market size and forecast, by Type
7.4.5.3.2 Market size and forecast, by Application
7.4.5.3.3 Market size and forecast, by Distribution Channel
7.4.5.4 Australia
7.4.5.4.1 Market size and forecast, by Type
7.4.5.4.2 Market size and forecast, by Application
7.4.5.4.3 Market size and forecast, by Distribution Channel
7.4.5.5 South Korea
7.4.5.5.1 Market size and forecast, by Type
7.4.5.5.2 Market size and forecast, by Application
7.4.5.5.3 Market size and forecast, by Distribution Channel
7.4.5.6 Singapore
7.4.5.6.1 Market size and forecast, by Type
7.4.5.6.2 Market size and forecast, by Application
7.4.5.6.3 Market size and forecast, by Distribution Channel
7.4.5.7 Thailand
7.4.5.7.1 Market size and forecast, by Type
7.4.5.7.2 Market size and forecast, by Application
7.4.5.7.3 Market size and forecast, by Distribution Channel
7.4.5.8 Malaysia
7.4.5.8.1 Market size and forecast, by Type
7.4.5.8.2 Market size and forecast, by Application
7.4.5.8.3 Market size and forecast, by Distribution Channel
7.4.5.9 Rest of Asia-Pacific
7.4.5.9.1 Market size and forecast, by Type
7.4.5.9.2 Market size and forecast, by Application
7.4.5.9.3 Market size and forecast, by Distribution Channel
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Type
7.5.3 LAMEA Market size and forecast, by Application
7.5.4 LAMEA Market size and forecast, by Distribution Channel
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Latin America
7.5.5.1.1 Market size and forecast, by Type
7.5.5.1.2 Market size and forecast, by Application
7.5.5.1.3 Market size and forecast, by Distribution Channel
7.5.5.2 Middle East
7.5.5.2.1 Market size and forecast, by Type
7.5.5.2.2 Market size and forecast, by Application
7.5.5.2.3 Market size and forecast, by Distribution Channel
7.5.5.3 Africa
7.5.5.3.1 Market size and forecast, by Type
7.5.5.3.2 Market size and forecast, by Application
7.5.5.3.3 Market size and forecast, by Distribution Channel
CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Players
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments
CHAPTER 9: COMPANY PROFILES
9.1 Acushnet Holdings Corp.
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 Adidas AG
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 Amer Sports
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 BRIDGESTONE CORPORATION
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 Callaway Golf Company
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 DICK'S Sporting Goods, Inc.
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 Dixon Golf, Inc.
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 Nike, Inc.
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 Sumitomo Rubber Industries, Ltd
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 Robin golf
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments
9.11 Ping, Inc
9.11.1 Company overview
9.11.2 Company snapshot
9.11.3 Operating business segments
9.11.4 Product portfolio
9.11.5 Business performance
9.11.6 Key strategic moves and developments
9.12 bettinardi golf
9.12.1 Company overview
9.12.2 Company snapshot
9.12.3 Operating business segments
9.12.4 Product portfolio
9.12.5 Business performance
9.12.6 Key strategic moves and developments
9.13 Cobra Golf
9.13.1 Company overview
9.13.2 Company snapshot
9.13.3 Operating business segments
9.13.4 Product portfolio
9.13.5 Business performance
9.13.6 Key strategic moves and developments
9.14 Pen fold Golf Limited
9.14.1 Company overview
9.14.2 Company snapshot
9.14.3 Operating business segments
9.14.4 Product portfolio
9.14.5 Business performance
9.14.6 Key strategic moves and developments
9.15 McGregor Golf
9.15.1 Company overview
9.15.2 Company snapshot
9.15.3 Operating business segments
9.15.4 Product portfolio
9.15.5 Business performance
9.15.6 Key strategic moves and developments
9.16 Hippo Golf
9.16.1 Company overview
9.16.2 Company snapshot
9.16.3 Operating business segments
9.16.4 Product portfolio
9.16.5 Business performance
9.16.6 Key strategic moves and developments
9.17 Infiniti Golf
9.17.1 Company overview
9.17.2 Company snapshot
9.17.3 Operating business segments
9.17.4 Product portfolio
9.17.5 Business performance
9.17.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Golf Club and Sets Market,' theGolf Club and Sets Market Size was valued at $3.4 billion in 2021, and is estimated to reach $4.9 billion by 2031, growing at a CAGR of 3.9% from 2022 to 2031.A golf club is equipment used to hit a golf ball. The core material used for the manufacturing of golf club is wood. Golf clubs have evolved significantly with the passage of time and the advancement of technology. The key manufacturers of golf clubs are currently focusing on technology-based and lightweight golf clubs. The smart sensors help with accuracy and swings, and the golf club can be linked to a smartphone app.
The woods with a higher number have a more pronounced club face angle and produce greater lift. Many consumers prefer hybrid clubs due to developments in product innovation. A hybrid is a relatively new style of the club that combines both iron and wood technology. Many golfers choose hybrids over long irons because hybrids are easier to hit than long-iron golf clubs. The rise in the adoption of golf and the increased popularity of the game as an exciting activity are driving the Golf Club and Sets Market. Furthermore, various hotels and resorts are including recreational activities, such as golf, within their hospitality offerings. The establishment of mini golf courses to enhance and promote golf as a healthy leisure activity is helping to boost golf club sales.
Golf tourism refers to the trips undertaken by people with the purpose of playing golf. According to the International Association of Golfing Tour Operators (IAGTO), the global golf tourism market was valued at more than $17 billion in 2018, out of which the U.S. is reported to be the largest market in terms of golf as a sport. However, UK, Japan, and Australia, along with the U.S., have witnessed stagnation in terms of a number of dedicated golfers, because of the change in the interest of youth towards other sports and the aging retired population is now taking up this sport as a recreational activity. Asia and Middle East are witnessing fastest rates in the Golf Club and Sets Industry. Growth in the middle-class population and an increase in investments in infrastructure to support the game drive the growth of the golf sector.
The rise in expenditure on sports training and development among children, owing to an increase in consciousness about the benefits of engaging in sports activity such as increased concentration and problem-solving ability has fueled the Golf Club and Sets Market Demand. Moreover, the changing paradigm of the educational system supports the growth of the sports industry and industries related to it. In addition, the rise in sports education and sports training in academics has significantly increased the awareness of sports and fitness. Thus, many of the schools/educational institutes are providing training to the students, providing them with the opportunity to compete in various sports competitions. Furthermore, an upsurge in the state, national, and international level competitions conducted by various governments across the world is leading to increased participation and developing interest of the youth in sports activities. This in turn has resulted in increased demand for golf club & sets, which significantly contributes to the overall growth of the Golf Club and Sets Industry
The rise in penetration of the internet, smartphones, computers, and other electronic media & entertainment devices has significantly increased the involvement of children and youth in indoor activities. This has resulted in diminished health and deterioration of skills & abilities of this population, which in turn has declined the interest and rate of participation in sports and reduced sales of sports equipment and apparel. Thus, the decline in interest of children and the young population in sports including golf, owing to mounting interest in media & entertainment devices restrains the market growth.
Various big brands are entering the untapped market where a lack of availability of sports facilities and products is witnessed. These key players are setting up sports facilities, sports centres, and playgrounds, and correspondingly promoting their products. Likewise, various organizations and NGOs are donating sports equipment, build sports facilities, conducting free of cost sports competitions, and training potential athletes free of cost. Moreover, developing interest of the young population in sports is anticipated to offer potential Golf Club and Sets Market Opportunity in the near future. These factors altogether significantly contribute towards the Golf Club and Sets Market Growth in untapped regions.
The Golf Club and Sets Market is segmented on the basis of type, application, distribution channel and region. By type, the market is categorized into woods, irons, hybrids, wedges and putters. In terms of application, it is divided into leisure, professional, and others. On the basis of distribution channel, the market is classified into specialty stores, sporting goods chains, on-course shops, online stores and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
According to the market players, the major obstacle attributed to the pandemic was the disruption of the supply chain. Furthermore, all the Distribution Channel were nearly shut down in the first quarter of the pandemic. However, online channels such as Amazon and Flipkart were delivering the products. They key players included in the Golf Club and Sets Market Analysis are Acushnet Holdings Corp., Adidas AG, Amer Sports, Bridgestone Corporation, Callaway Golf Company, DICK'S Sporting Goods, Inc. , Dixon Golf, Inc., Nike, Inc., Sumitomo Rubber Industries, Ltd, Robin golf, Ping, Inc , Bettinardi Golf, Cobra Golf , Pen fold Golf Limited, McGregor Golf , Hippo Golf, and Infiniti Golf.
Key findings of study
On the basis of type, the irons segment had the dominating Golf Club and Sets Market Share in 2021.On the basis of application, the leisure segment had the dominating Golf Club and Sets Market Size in 2021.
On the basis of distribution channel, the specialty stores segment dominated the global market in 2021.
On the basis of region, North America dominated the global market in 2021, however, Asia-Pacific is likely to be the fastest-growing region during the Golf Club and Sets Market Forecast period.
Companies Mentioned
- Acushnet Holdings Corp.
- Adidas AG
- Amer Sports
- Bridgestone Corporation
- Callaway Golf Company
- Dick's Sporting Goods, Inc.
- Dixon Golf, Inc.
- Nike, Inc.
- Sumitomo Rubber Industries, Ltd.
- Robin Golf
- Ping, Inc.
- Bettinardi Golf
- Cobra Golf
- Pen Fold Golf Limited
- Mcgregor Golf
- Hippo Golf
- Infiniti Golf
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 238 |
| Published | October 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 3371.9 million |
| Forecasted Market Value ( USD | $ 4851.8 million |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
