Golf Club Market Size, Share, Growth Analysis, By Type(Wood, Hybrid, Iron, Wedges), By Material(Wood, Steel, Titanium, Aluminum and Other), By Application(Leisure, Professional), By Distribution Channel(Online, Offline Retail), By Region - Industry Forecast 2024-2031

Golf Club Market size was valued at USD 8.5 billion in 2022 and is poised to grow from USD 8.9 billion in 2023 to USD 12.9 billion by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).

Golf is a leisure activity; hence wealthy consumers are frequently connected with the game. Golf simulators are being offered by manufacturers using this impression as a selling point. The emergence of technology and quick changes in the golf industry further reinforce this. In many nations throughout the world, playing golf indoors using a golf simulator is becoming increasingly popular.

The market is primarily driven by the increasing acceptance of golf as an energetic activity and its rising popularity. Golf is one of the sports that upscale resorts and hotels are including into their hospitality offerings. The development of miniature golf courses to draw in more players and promote it as a fun, healthy pastime is a factor in the increased demand for golf clubs. The National Golf Foundation (NGF) reported that there were around 2.5 million new golfers in 2019, an increase of nearly 14.0%. Breaking the previous record of 2.4 million in 2019, when Tiger Woods was at the height of his career, this number was a record-high. The number of golf aficionados has been steadily increasing, and among them are those for whom golf is either their favourite sport or one of their numerous leisure activities.

US Golf Club Market is poised to grow at a sustainable CAGR for the next forecast year.