Golf Equipment Market Report 2025

The golf equipment market size has grown steadily in recent years. It will grow from $29.03 billion in 2024 to $30.41 billion in 2025 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to popularity of golf as a sport, golf course development, demographic trends, celebrity endorsements and events, tourism and golf travel.

The golf equipment market size is expected to see steady growth in the next few years. It will grow to $36.76 billion in 2029 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to growing innovations in design and materials, growing interest among younger demographics, customization and personalization trends, digital platforms and e-commerce, sustainable and eco-friendly products. Major trends in the forecast period include expansion of direct-to-consumer sales channels, customization and aesthetic trends in golf apparel and accessories, rise in hybrid and multi-functional golf equipment, focus on lightweight and portable golf gear, incorporation of augmented reality (AR) in golf training.

The growth of the golf equipment market is anticipated to be driven by the rise in golf tourism and government support. Governments are actively promoting golf resorts to both local and international tourists as a means to generate additional foreign exchange through the development of golf tourism, thus contributing to economic growth. This surge in golf tourism is expected to boost sales and demand for golf equipment. For example, in February 2023, the United States Golf Association (USGA), the governing body and national association for golf courses, clubs, and facilities in the US, launched the US National Development Program (USNDP). This program aims to establish a structured approach to cultivating elite golf talent across the nation. It focuses on identifying, training, developing, and financially supporting promising junior players from diverse backgrounds, addressing the competitive disadvantages the US faces in golf development compared to other countries. The initiative includes a sustainable grant program to cover expenses like entry fees and coaching, with a goal of supporting 1,000 junior players by 2027. Consequently, the growth in golf tourism and government backing is propelling the market forward.

A contributing factor to the growth of the golf equipment market is the increasing number of golf players. The rising population of golf players, also known as golfers, fuels the demand for golf equipment as more individuals engage in the sport, necessitating essential gear such as clubs, balls, and accessories. This expanding market benefits manufacturers and retailers, fostering innovation and a broader range of product offerings to meet the diverse needs of golf enthusiasts. According to Golf Australia in November 2023, golf was played by 3.5 million Australians in the 2022-23 period, representing 17.6% of the adult population, an increase from 2.7 million players in the previous year of 2021-22. Therefore, the growing number of golf players is a significant driver of market growth.

Major companies in the golf equipment market are leveraging innovative strategies, such as the development of new products such as carbon fiber drivers, to gain a competitive edge. Carbon fiber, recognized for its lightweight and exceptional strength, is a key material in these advanced drivers. For instance, in January 2023, Topgolf Callaway Brands introduced the Paradym range, featuring groundbreaking technology. The Paradym Drivers, equipped with an industry-first 360 Carbon Chassis, optimize weight distribution for maximum distance and increased forgiveness. With a Triaxial Carbon crown and Forged Carbon sole, these drivers are 44% lighter than titanium chassis, enhancing both ball speed and forgiveness. The drivers, available in three models, cater to specific player preferences and performance requirements.

Strategic partnerships are another avenue pursued by major companies in the golf equipment market to develop new products and fortify their market positions. These collaborations facilitate innovation, broaden product offerings, and extend market reach, establishing mutually beneficial relationships. For instance, Sentosa Golf Club in Singapore partnered with The Toro Company, a US-based golf maintenance equipment company, in March 2022. Toro is providing a comprehensive package, including golf course maintenance equipment and irrigation products, with a focus on sustainability through hybrid and electric equipment and water-saving systems. This collaboration emphasizes environmental responsibility, innovation, and excellence in the golf industry.

In February 2023, Acushnet Holdings Corp, a publicly traded company located in the United States, acquired the Club Glove brand for an undisclosed sum. This acquisition holds particular importance as Club Glove is recognized as a leader in golf travel products and is highly esteemed by professional golfers on the PGA and LPGA tours for its high-quality travel gear. Club Glove is a US-based company specializing in golf equipment.

Major companies operating in the golf equipment market include Bridgestone Corporation, Dick's Sporting Goods Inc., Sumitomo Rubber Industries Ltd., Puma SE, Callaway Golf Company, Topgolf Callaway Brands Corp., Amer Sports Corporation, Acushnet Holdings Corp., Titleist, Mizuna USA Inc., TaylorMade Golf Company Inc., SRI Sports Limited, Dunlop Sports Co. Ltd., Karsten Manufacturing Corporation, Wilson Sporting Goods, PING Inc., Roger Cleveland Golf Company Inc., Cleveland Golf, True Temper, Cobra Golf, Parsons Xtreme Golf, Dixon Golf Inc., Srixon Sports, Adams Golf, Wittek Golf Supply, Bailey & Izlet Inc., Matzie Golf.

North America was the largest region in the golf equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the golf equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the golf equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

Golf equipment encompasses items and gear designed for playing the sport, maintaining the course, improving the game, and enhancing the overall golfing experience for players. This equipment includes golf balls, golf clubs, alignment sticks, ball markers, ball retrievers, and other devices that contribute to the sport of golf.

The primary product categories of golf equipment include golf clubs, golf balls, golf bags and accessories, apparel, and footwear. Golf clubs are utilized to strike a golf ball during gameplay and consist of a shaft with a grip and a club head. These clubs are categorized into woods, hybrids, and irons. The distribution of these products occurs through various channels, including specialty stores, sporting goods chains, on-course shops, online stores, and other outlets accessible to both amateur and professional golfers.

The golf equipment market research report is one of a series of new reports that provides golf equipment market statistics, including golf equipment industry global market size, regional shares, competitors with a golf equipment market share, detailed golf equipment market segments, market trends and opportunities, and any further data you may need to thrive in the golf equipment industry. This golf equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The golf equipment market consists of sales of woods, sticks, wedges, putters, and rubber material. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.