Golf Equipment Market expected to generate a revenue of US$ 18.85 Billion by 2033 , Globally at 2.3 % CAGR – By PMR
Golf Equipment Market
golf equipment is expected to reach US$ 18,854.1 million by 2033, growing at a ~2.3% CAGR from 2023 to 2033, generated a revenue of US$ 14,751.2 million in 2022
NEW YORK, NEW YORK, UNITED STATES OF AMERICA, April 24, 2023 /EINPresswire.com/ -- The global Golf Equipment Market has experienced steady growth over the past decade, driven by increasing participation in the sport and rising consumer spending power. Golf equipment can be broadly categorized into clubs, balls, bags, apparel, and accessories. Among these, the clubs segment holds the largest market share, followed by balls and bags. The apparel segment is expected to witness the highest growth rate during the forecast period.
The growth of the golf equipment market is primarily driven by the increasing popularity of golf as a leisure sport and the rising number of professional tournaments. In addition, the growing trend of fitness and wellness has also contributed to the growth of the market, as golf is considered a low-impact form of exercise. Moreover, technological advancements in golf equipment have also played a significant role in the growth of the market. The introduction of innovative materials and designs has enhanced the performance of golf equipment, leading to improved player experience and driving demand for new products.
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Top Establishments :
• Acushnet Holdings Corp.
• Callaway Golf Company
• Sumitomo Rubber Industries, Ltd
• MIZUNO Corporation
• Bridgestone Sports Co Ltd
• Amer Sports Corporation
• TaylorMade Golf Company, Inc
• Louisville Golf
• Adidas AG
• Puma SE
• Nike, Inc
• Bettinardi Golf
• Cure Putters
• Miura Golf Inc
• Yamaha Golf
• Other Players (As Requested)
North America is the largest market for golf equipment, followed by Europe and the Asia Pacific. The US and Canada are the major contributors to the North American market, owing to the high participation rate of golfers in these countries. In Europe, the UK and Germany are the key markets for golf equipment, while Japan and South Korea are the major markets in the Asia Pacific region.
The key players in the golf equipment market include Callaway Golf Company, Acushnet Holdings Corp., TaylorMade Golf Company, Inc., Bridgestone Sports Co., Ltd., and Mizuno Corporation. These companies are focusing on expanding their product portfolio and investing in research and development to stay competitive in the market.
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The golf equipment industry is a multi-billion-dollar market that encompasses the production, distribution, and sale of golf equipment, including clubs, balls, bags, apparel, and accessories. The industry is driven by the growing popularity of golf as a leisure activity, professional sport, and source of entertainment.
The golf equipment industry is influenced by several factors, including changes in consumer preferences, advancements in technology, and the state of the global economy. In recent years, there has been a shift towards more eco-friendly and sustainable golf equipment, which has led to the development of new materials and manufacturing processes.
One of the major challenges faced by the golf equipment industry is the declining number of golfers, particularly among younger generations. This trend has prompted companies to focus on creating products that are more accessible and affordable, such as beginner-friendly clubs and low-priced balls.
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Key Segments Covered in Golf Equipment Market Industry Research
• Golf Equipment Market By Product Type : Golf Club, Driver, Irons, Putters, Wedges, Hybrids, Golf Ball, Accessories, Bag, Hat, Gloves, Others, Golf Apparel, Golf Footwear
• Golf Equipment Market By Product By End Use : Amateur, Professionals
• Golf Equipment Market By Product By Distribution Channel : Direct, Indirect : Modern Trade, Exclusive Stores, Specialty Stores, Sports Chain Outlets, Online Retailers
• Golf Equipment Market By Product By Region : North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East Africa
The golf equipment industry is also impacted by various regulations and standards, including rules set by the United States Golf Association (USGA) and the Royal and Ancient Golf Club of St. Andrews (R&A). These organizations set guidelines for the construction and performance of golf equipment to ensure a level playing field for all golfers.
Overall, the golf equipment industry is an important segment of the global sports industry, with significant growth potential in the coming years. By staying ahead of trends and continuing to innovate, companies in this industry can maintain their competitive edge and capitalize on the growing demand for high-quality golf equipment.
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