Global Golf Equipment Market

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: 92 | Figures: 71

Golf Equipment Market News

  • 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.
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FAQs

Global Golf Equipment Market size was valued at USD 16.70 Billion in 2022 poised to grow from USD 17.50 Billion in 2023 to USD 25.46 Billion by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).

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. '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)'

Increasing Golf Participation

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.

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.

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Global Golf Equipment Market

Report ID: SQMIG25J2077

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