Golf Club Market Size, Share, Trends, Industry Growth Analysis and Forecast

Global golf club market size is expected to reach $8.27 Bn by 2028 at a rate of 3.8%, segmented as by product type, woods, hybrids, irons, wedges, putters

Jul 4, 2024 - 16:02

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Overview and Scope

A golf club refers to sports equipment used in golf that is designed to cover different distances and angles, allowing golfers to adapt to various situations on the course. The golf ball is struck with golf clubs to move it toward the target, typically a hole on a golf course.

Sizing and Forecast
The golf club market size has grown steadily in recent years. It will grow from $6.82 billion in 2023 to $7.12 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to increased number of golf courses and facilities in emerging markets, rising popularity of golf as a fitness activity, growing interest in golf as a networking tool, increased number of golf tournaments and events, rising interest in golf as a leisure activity.

The golf club market size is expected to see steady growth in the next few years. It will grow to $8.27 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%. The growth in the forecast period can be attributed to increasing demand for customized golf clubs, expansion of golf courses and facilities, rising disposable income. Major trends in the forecast period include partnerships and collaborations, innovative solutions, technological advancements in golf club design, market expansion in key regions.

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Segmentation & Regional Insights
The golf club market covered in this report is segmented –

1) By Product Type: Woods, Hybrids, Irons, Wedges, Putters
2) By Hand Orientation: Left-Hand Clubs, Right-Hand Clubs
3) By Price Range: Premium Or High, Economy Or Mid-Range
4) By Distribution Channel: Supermarkets And Hypermarkets, Specialty Stores, Online Retail, Other Distribution Channels
5) By Application: Leisure, Professional

North America was the largest region in the golf club market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the golf club market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
Increasing government initiatives to promote golf tourism are expected to propel the growth of the golf club market going forward. Golf tourism refers to tourist activities whose primary purpose is to play golf as a secondary activity while on vacation or a business trip. Golf clubs are used in golf tourism as essential playing equipment and the primary infrastructure for golfing experiences. Government initiatives support the golf industry's growth by creating a positive environment and collaborating with national and international golf organizations. For instance, in August 2022, the RBC Canadian Open and CP Women's Open, Canada-based professional golf tournaments, received a $4.4 million investment from the federal government of Canada to create critical economic benefits and attract tourists across the region. Therefore, the increasing government initiatives to promote golf tourism are driving the growth of the golf club market.

Key Industry Players
Major companies operating in the golf club market report are Adams Golf Inc., Nike Inc., Bridgestone Corporation, Sumitomo Rubber Industries Ltd., Callaway Golf Inc., Topgolf Callaway Brands Corp., Amer Sports Oy, Acushnet Holdings Corp., Mizuno Corporation, TaylorMade Golf Company Inc., Wilson Sporting Goods Co., Ping Inc., Cobra Golf Inc., Cleveland Golf Company Inc., Honma Golf Ltd., Krank Golf, Srixon Ltd., Miura Golf LP, U.S. Kids Golf LLC, Ben Hogan Golf Equipment Company, Tour Edge Golf Inc., Lynx Golf Limited, Parsons Xtreme Golf LLC, Evnroll, Bettinardi Golf, Sub 70 Golf Ltd., Vega Golf, Piretti Golf Inc., Fourteen Golf.

The golf club market report table of contents includes:

1. Executive Summary

2. Golf Club Market Characteristics

3. Golf Club Market Trends And Strategies

4. Golf Club Market - Macro Economic Scenario

5. Global Golf Club Market Size and Growth

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32. Global Golf Club Market Competitive Benchmarking

33. Global Golf Club Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Golf Club Market

35. Golf Club Market Future Outlook and Potential Analysis

36. Appendix