Golf Equipment Market Size, Share, Growth Analysis, By Type (Golf Clubs, Golf Balls), By Distribution Channel (Specialty Stores, On-course Shops), By End User (Amateur Golfers, Professional Golfers), By Region -Industry Forecast 2025-2032
Report ID:
SQMIG25J2077 |
Region:
Global |
Published Date: November, 2024
Pages:
163
|Tables:
0
|Figures:
0
Golf Equipment Market Insights
Golf Equipment Market size was valued at USD 17.5 Billion in 2023 and is poised to grow from USD 18.34 Billion in 2024 to USD 26.68 Billion by 2032, growing at a CAGR of 4.8% during the forecast period (2025-2032).
The market is a vibrant and successful enterprise that meets the needs of golfers of all abilities, from novices to seasoned pros. The products in this market range from clubs and balls to golf apparel and golf accessories like golf carts, all of which are designed to help players play better and have a better time on the course. Performance, innovation, and technology are at the heart of this company. The goal of manufacturers is always to develop innovative items that can enhance player performance in terms of accuracy, distance, and overall attributes. Due to golf's popularity as a recreational pastime and networking tool, participation rates are rising, which raises demand for high-quality equipment.
With the expansion of urban centers globally and economically, many individuals devote their resources towards golf as a leisure activity. Constraints have also been eliminated to ensure that the game is played by people of all age groups. It is because of family golf days, easier golf course access, and youth schemes that a new audience has hitherto not engaged in the sport has done so. Golf equipment for amateurs or for anyone who wants to engage in the sport professionally as well as for leisure is becoming a need as more people take part in the activity.
Market snapshot - (2024-2031)
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
CAGR
To get more reports on the above market click here to Buy The Report
Golf Equipment Market Segmental Analysis
The global golf equipment market is segmented based on type, distribution channel, end user, and region. In terms of type, the market is grouped into golf clubs, golf balls, golf shoes, and others. Based on distribution channel, the market is segmented into specialty stores, sporting goods chain, on-course shops, online stores, and others. Based on the end user, the market is divided into amateur golfers, and professional golfers. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Central & South America and the Middle East & Africa.
Analysis by Type
As per categorization by type, the market is classified as golf clubs, golf balls, golf shoes, and others. Among these, golf clubs earned the largest share and continue to hold the dominant global golf equipment market share. The golf clubs are witnessing a surge in the global golf equipment market as the manufacturers are working on the enhancement of performance by incorporating advanced materials like carbon fiber and titanium. There have been advancements in the design of these clubs such as adjustable shafts, moveable clubheads, and smart sensors for performance tracking among other features which entice golfers who want accuracy and custom fit. Golf clubs are the leading tools in the market since they are highly significant for sport and there is a rise in demand for advanced specialized ones among both amateurs and professionals, ensuring steady growth.
Golf balls are poised to be the fastest-growing segment in the global golf equipment market due to advancements in ball technology, rising participation in recreational golf, and increased demand for performance-oriented products. The improved golf balls are fitted with sophisticated core materials, perfect aerodynamics and optimally arranged dimples which enhance the distance, accuracy and control for non professional and professional golfers alike. In addition, the increasing personalization trends such as custom printed balls and eco-friendly designs such as biodegradable designs are extending consumer appeal. In addition to the growth of sport in developing economies, the upsurge of indoor and virtual games is contributing to the increased demand for golf balls as key consumables in the golf game.
Analysis by Distribution Channel
Specialty stores are experiencing growth in the global golf equipment market due to their focus on offering a curated, personalized shopping experience. These establishments offer expert consultations, fittings for clubs and equipment, and access to products of unrivaled quality that meet the requirements of golfers. Some advancements in retail include interactive displays and fitting technology that allow for virtual alterations. Specialty stores account for the largest market share as they offer higher and more in-depth levels of customer engagement and expertise which most general retailers can never match. Hence, they are the most frequented stores by golfers in need of customized equipment and full-service solutions.
On-course shops are expected to be the fastest-growing segment in the global golf equipment market due to their strategic location and convenience for golfers. These establishments are set up in such a way that they target players during their play rounds, providing them with easy access to necessary equipment, wear and other items. On-course retailers are also diversifying their clientele owing to the growth of golf tourism and golf resorts. Furthermore, it is common for a good number of golfers to argue in favor of the practice of buying equipment while the golf course is in sight; hence, the need for high-end, unique, specific products designed to improve the enjoyment of golf is on demand.
To get detailed analysis on other segments, Request For Free Sample Report
Golf Equipment Market Regional Insights
North America dominates the global golf equipment market due to a combination of factors, including a large and affluent golfing population, high participation rates, and a deep-rooted golfing culture. In particular, the United States as a country has a larger share owing to a comprehensive system of golf courses, clubs and stores. The demand for high-quality golf clubs has increased with the introduction of golf club technology, performance enhancing gadgets such as smart clubs and customization of fittings. Finally, the relative economic strength of North America and its consumers’ purchasing power ensure that there is always a steady market for premium golf equipment and thus helps to retain the market leadership position of this region.
Europe is the fastest-growing region in the global golf equipment market, driven by increasing interest in golf, particularly in countries like the UK, Germany, and France. Increasing inclusion rates, especially in women and younger generations, increase the consumer market. A growing number of golf resorts, events and tournaments in the region encourage the growth of the market, creating the need for high-quality equipment. The innovations of golf gadgets such as variable personalization of the user's clubs and technological advances into them, fit the European golfers’ philosophy geared towards performance and accuracy. Lastly, the growing concern for green initiatives and sustainability in Europe is influencing the consumers’ requirements for golf playing accessories with a lower environmental pollution level.
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Golf Equipment Market Dynamics
Drivers
- Increasing Golf Participation
One of the main factors fueling the growth of the global golf equipment market trends is the increasing acceptance of the game across continents, more so in the developing regions. The rise in the consumption potential is particularly enhanced by the younger male and female golfers. The recreational as well as competitive nature of this sport increases the appetite for purchasing sporting goods.
- Technological Advancements in Golf Equipment
Such factors as the advent of new materials, smart technologies, and adjustable components in the design of golf clubs contribute significantly to market expansion. There is a desire among golfers for equipment that enhances their performance, thus there is a demand for advanced technology. Moreover, the growth of players’ interest & sales of golf gear is also attributed to the availability of advanced club fitting technologies and customizations.
Restraints
- High Cost of Equipment
The costly nature of high-end golfing equipment can be a hindrance to the majority of users, hurting the sales more so in developing regions. The cost of modernized golf clubs, clothing, and equipping items may discourage some users, restricting the market growth. Due to the high entry cost that is at first incurred as investment on the equipment, a large number of people do not take part in golfing activities.
- Intense Competition from Substitutes
The increasing availability of alternative recreational sports and activities poses a challenge to the global golf equipment market. Especially younger generations tend to prefer sports that are cheaper or less time consuming leading to a decrease in overall golf equipment need. Such competing substitutes curb the growth of the market expansion potential for golf.
Request Free Customization of this report to help us to meet your business objectives.
Golf Equipment Market Competitive Landscape
The global golf equipment market is highly competitive, with major players focusing on innovation, quality, and customization to gain market share. Some of the companies which dominate the industry with state-of-the-art products such as high-quality clubs, apparels, and accessories include Titleist, Callaway Golf, Taylormade, Ping and Nike Golf. These and similar brands pour lots of money in research and development given that consumer expectations are continually rising due to faster technological advancements as well as the need for customization in all regions especially in North America and Europe.
Top Player’s Company Profiles
- Titleist (USA)
- Callaway Golf (USA)
- TaylorMade (USA)
- Ping (USA)
- Nike Golf (USA)
- Mizuno Corporation (Japan)
- Srixon (Japan)
- Cobra Golf (USA)
- Wilson Sporting Goods (USA)
- Odyssey Golf (USA)
- Adams Golf (USA)
- Bridgestone Golf (Japan)
- Cleveland Golf (USA)
- Honma Golf (Japan)
- PXG (Parsons Xtreme Golf) (USA)
Recent Developments
- In March 2024, Callaway Golf launched its new Paradym series of drivers and irons, incorporating innovative artificial intelligence technology for enhanced performance. This development aims to improve club customization and precision, offering golfers better distance control and accuracy. The Paradym series reflects Callaway’s continued focus on technological innovation and performance.
- In February 2024, TaylorMade held a marketing event to promote the new Stealth 2 driver. This driver has advanced carbon fiber construction which provides higher launch speeds and better forgiveness for the users of the driver. With the improvements on the dimensions of the clubface, Stealth 2 is intended for golfers who would wish to hit far away with some degree of accuracy. As such, there is no doubt that TaylorMade is still at the forefront of golf equipment with regard to the use of advanced technologies.
- In January 2024, Mizuno unveiled its new range of JPX923 iron sets which aim at enhancing playability through a modified grain flow forging technique that has improved feel and distance. Cavity back irons are exceptionally stable and forgiving and are therefore made for golfers of all abilities. Innovations made by Mizuno show the company’s commitment to the art of making golf clubs very accurately.
Golf Equipment Key Market Trends
- Rising Demand for Customization in Golf Equipment: Golfers are increasingly seeking personalized equipment tailored to their specific needs. The demand for custom-designed fittings for the clubs, shafts, grips and other components of the golf equipment is on the rise as more golfers seek out for performance-oriented accessories that stand out and are tailored to specific body characteristics and style of play.
- Integration of Smart Technology in Golf Equipment: The introduction of advanced technologies like sensors and performance monitoring systems is transforming the attire and club set for golf. High-tech golf clubs, body wingers, GPS range finders help the players to track their performance and work on it instantly, which increases the need for tech oriented sporting goods.
Golf Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, in conclusion, the global golf equipment industry is thriving due to rising participation rates, technological advancements, and increasing demand for customized and high-performance gear. Golf clubs, especially those incorporating smart technology and advanced materials, dominate the market.
As the sport is increasingly enjoyed by younger and more varied populations, the market continues to grow along with the odds, for example, North America has high levels of consumer spending, while European territories focus on innovations and sustainability. The increasing need for customized and technologically advanced gear bodes well for the outlook of this active and growing market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 16.70 Billion |
| Market size value in 2031 | USD 25.46 Billion |
| Growth Rate | 4.8% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Golf Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Golf Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Golf Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Golf Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Golf Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Golf Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
