Golf Equipment Market by Product, Distribution Channel and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR44482
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The golf equipment market has the potential to grow by USD 1.37 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 2.90%.

This golf equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (golf clubs, golf balls, golf shoes, and golf bags), distribution channel (offline and online), and geography (North America, APAC, Europe, MEA, and South America). The golf equipment market report also offers information on several market vendors, including Acushnet Holdings Corp., Amer Sports Corp., Bridgestone Golf, Inc., Callaway Golf Co., Mizuno Corp., Nike Inc., PUMA SE, Ralph Lauren Corp., Sumitomo Rubber Industries Ltd., and Under Armour Inc. among others.

What will the Golf Equipment Market Size be in 2021?

Golf-Equipment-Market-Market-Size-2020-2025

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Golf Equipment Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing focus on healthy lifestyles is notably driving the golf equipment market growth, although factors such as the popularity of alternative sports may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the golf equipment market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • Physical inactivity and sedentary lifestyles can lead to various health conditions, such as anxiety, obesity, type-2 diabetes, and osteoporosis. Hence, individuals have started focusing on maintaining healthy lifestyles.
  • Hectic work schedules and increasing health issues have influenced people to opt for daily exercise. Working out regularly helps in burning calories and staying fit, which helps in preventing several health issues.
  • With the growing awareness about the need for maintaining a healthy lifestyle, the popularity of various sports, such as golf, is increasing.
  • Participating in golf offers several health benefits, as it helps in strengthening abdominal muscles, improves coordination, and enhances the flexibility of muscles and the body.
  • The rising awareness about the importance of healthy lifestyles will encourage more people to play golf, which will boost the sales of golf equipment.
  • Innovation and portfolio expansion is leading to product premiumization. This is another key driver boosting the golf equipment market growth.
  • The use of new technologies and product innovations have allowed manufacturers to come up with golf equipment that is innovative in terms of design, quality, and features.
  • Vendors are extending their product lines to include golf equipment for all age groups, which can be demanded by both professionals and amateurs. 
  • Increasing purchasing power, coupled with the rising preference for innovative, comfortable, and lightweight golf clubs, is driving the sales of such products.
  • Leading golf equipment manufacturers design and develop innovative golf equipment according to the rules set by the Royal and Ancient Golf Club (R&A), the global ruling authority on golf and other regional golf associations. 

This golf equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Golf Equipment Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Acushnet Holdings Corp.
  • Amer Sports Corp.
  • Bridgestone Golf, Inc.
  • Callaway Golf Co.
  • Mizuno Corp.
  • Nike Inc.
  • PUMA SE
  • Ralph Lauren Corp.
  • Sumitomo Rubber Industries Ltd.
  • Under Armour Inc.

 

This statistical study of the golf equipment market encompasses successful business strategies deployed by the key vendors. The golf equipment market is fragmented and the vendors are deploying growth strategies such as focusing on product quality and technological innovations to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The golf equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Golf Equipment Market?

Golf-Equipment-Market-Market-Share-by-Region-2020-2025

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39% of the market’s growth will originate from APAC during the forecast period. Japan, South Korea (Republic of Korea), and China are the key markets for the golf equipment market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The rising awareness about golf and the growth of the corporate sector in countries such as India and China will facilitate the golf equipment market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Golf Equipment Market?

Golf-Equipment-Market-Market-Share-by-Product-2020-2025

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The golf equipment market share growth by the golf clubs segment will be significant during the forecast period. New golf clubs will witness higher demand from China, India, and parts of the Middle East and Central Europe. The awareness and interest in golf in these regions are gradually increasing, with the rise in participation of young players. This will drive the golf clubs segment growth during 2021-2025.

This report provides an accurate prediction of the contribution of all the segments to the growth of the golf equipment market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Golf Equipment Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive golf equipment market growth during the next five years
  • Precise estimation of the golf equipment market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the golf equipment market industry across North America, APAC, Europe, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of golf equipment market vendors

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Golf Equipment Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 2.90%

Market growth 2021-2025

$ 1.37 billion

Market structure

Fragmented

YoY growth (%)

0.34

Regional analysis

North America, APAC, Europe, MEA, and South America

Performing market contribution

APAC at 39%

Key consumer countries

US, Japan, South Korea (Republic of Korea), UK, and China

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Acushnet Holdings Corp., Amer Sports Corp., Bridgestone Golf, Inc., Callaway Golf Co., Mizuno Corp., Nike Inc., PUMA SE, Ralph Lauren Corp., Sumitomo Rubber Industries Ltd., and Under Armour Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces analysis 2020 & 2025
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Golf clubs - Market size and forecast 2020-2025
    • Golf balls - Market size and forecast 2020-2025
    • Golf shoes - Market size and forecast 2020-2025
    • Golf bags - Market size and forecast 2020-2025
    • Market opportunity by Product

    Market Segmentation by Distribution channel

    • Market segments
    • Comparison by Distribution channel
    • Offline - Market size and forecast 2020-2025
    • Online - Market size and forecast 2020-2025
    • Market opportunity by Distribution channel

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Acushnet Holdings Corp.
      • Amer Sports Corp.
      • Callaway Golf Co.
      • Mizuno Corp.
      • Nike Inc.
      • PUMA SE
      • Ralph Lauren Corp.
      • Sumitomo Rubber Industries Ltd.
      • Under Armour Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
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      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The golf equipment market growth will increase by $970.19 million during 2019-2024.
      The golf equipment market is expected to grow at a CAGR of 1.98% during 2019-2024.
      Technavio has segmented the golf equipment market by product (Golf clubs, Golf balls, Golf shoes, and Golf bags) ,other1 (Offline and Online) , and geographic (North America, Europe, APAC, MEA, and South America).
      Acushnet Holdings Corp., Amer Sports Corp., Bridgestone Corp., Callaway Golf Co., Mizuno Corp., Nike Inc., PUMA SE, Ralph Lauren Corp., Sumitomo Rubber Industries Ltd., Under Armour Inc. are a few of the key vendors in the golf equipment market.
      North America will register the highest growth rate of 45.68% among the other regions. Therefore, the golf equipment market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      • US
      • Japan
      • UK
      • Canada
      • South Korea (Republic of Korea)
      The key factors driving the golf equipment market growth are:
      • Increasing focus on healthy lifestyles
      The golf equipment market vendors should focus on grabbing business opportunities from the golf clubs segment as it accounted for the largest market share in the base year.
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