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Golf Club Market

Global Market Study on Golf Clubs: Rapidly Rising Popularity of Golf Simulators to Increase Usage of Golf Clubs

Golf Club Market is segmented by Products - Golf Clubs Drivers, Golf Clubs Fairways, Golf Clubs Hybrids, Golf Clubs Irons, Golf Clubs Wedges, Golf Clubs Putters

Golf Club Market Outlook (2023-2033)

According to Persistence Market Research, the golf club market generated a revenue of US$ 10,174.3 million in 2022. The demand for sleeve labels will accelerate, with the top market players holding a prominent share of the market in 2022. The global market for golf club is expected to reach US$ 13,199.7 million by 2033, growing at a ~2.5% CAGR from 2023 to 2033.

Global Golf Club Market Size (2022A)

~US$ 10,174.3 million

Global Golf Club Market Size (2023E)

~US$ 10,311.6 million

Projected Sales of Golf Club Market (2033F)

~US$ 13,199.7 million

Value CAGR (2023 to 2033)

~2.5%

Collective Value Share: Top 3 Countries (2022)

~34%

A golf club is made up of the club head and shaft with a handle. Iron, wood, and hybrid are among its materials. The primary drivers of the market include golf's growing acceptance as an energetic sport. Additionally, high-end resorts and hotels are expanding their hospitality offerings to include leisure pursuits like golf. Golf equipment sales are increasing as a result of the expansion of miniature golf courses designed to recruit more players and promote the sport as a fun, healthy past time.

Moreover, golf is still seen as a very traditional and formal activity, which is at odds with the thinking of millennials who, for the most part, view it as an elite sport. Golf needs to be reintroduced as a game for everyone in order to maintain its spirit. The sports entertainment firm Topgolf developed some millennial-friendly improvements with this fundamental strategy in mind and launched a platform to draw in lots of customers by making golf more entertaining and fun.

Younger consumers favour purchasing fashionable equipment, whereas more seasoned buyers simply consider the equipment's technical specifications. For instance, choosing the right clubs has always been crucial to raising the level of the game. When buying a club, the majority of professional players solely consider the materials and where the centre of gravity is located. The choice of material is also crucial. For instance, using highly heavy Tungsten material and very light carbon fibre allows for new centre of gravity manipulation techniques.

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Golf Club Market Analysis from 2018 to 2022 Vs Market Outlook for 2023 to 2033

A share of around 69% of the market for golf equipment was held by the golf club market in 2022. Golf clubs are expected to be in higher demand throughout the anticipated period as consumers begin to favour customised and varied clubs. Consumer demand is rising as a result of manufacturer innovation in clubs, such as hybrid iron clubs and clubs made of higher-lofted wood that are gaining popularity. The segment's product repurchase cycle is growth-restraining which is greatly impacted by iron clubs' longer product lifespan.

The rising popularity of golf as an athletic sport and its growing popularity among all age groups are the main aspects affecting the market's effectiveness. The construction of more and more golf courses and the expansion of government programmes to promote golf tourism have raised the popularity of the game and the need for the associated equipment. Golf is one of the leisure activities offered at luxury resorts and accommodations. Golf clubs have become more well-liked as a result of the development of miniature golf courses, which are expected to attract more players and promote golf as a fun, superior, and healthy past time.

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How are Golf Simulators Boosting the Golf Club Market?

A golf club is a necessary piece of equipment. A professional golfer's golf club and shot choices are what set them apart from amateurs. Following that, golf training gained popularity, particularly with golf simulators. Golf is a sport that is typically associated with affluent people, and businesses are capitalising on this notion. Golf simulators, which are becoming more and more popular as an indoor activity in many nations like South Korea, are made feasible by technological advancements and innovation in the golf business.

Golfzon is a sports company with headquarters in South Korea that has created and offers golf simulators all over the world. In 2018, the business facilitated 56 million rounds in 46 different countries, and it even provides professional golf tours with purses that exceed $1 million for the entire season. The popularity of golf simulators is then anticipated to increase golf club sales all over the world.

Market Research Methodology

Market Research Methodology

-Perfect through Years of Diligence

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How are Technological Advancements Aiding the Market’s Growth?

Golf clubs are the fundamental golf club that have changed throughout time as a result of technology. The focus of golf club manufacturers at the moment is on lightweight, technology-driven golf clubs. Golfers can learn and play accurate golf thanks to the technology-driven golf clubs of today. With the use of a smartphone app, smart sensors are used to offer swing and accuracy for golf clubs. Another instrument that analyses hundreds of possibilities to determine what is best for each player is golf customisation. It examines players' swing speed and impact angle, which has led to a rise in the popularity of golf clubs among players.

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Country-wise Analysis

What Makes US a Prominent Market for Golf Club Market?

In the North America region the US is one of the prominent market for golf club market, the market is expected to grow with a CAGR value of 2.3%. Unlike private facilities and clubs, the golf facilities are accessible to fee-paying golfers on a per-round basis. As a result, more people will play, increasing the demand for clubs and other golf equipment in the area.

Many Americans play golf because of the social aspects of the game. Golfers might catch up with old pals or discuss business during the breaks between strokes and putts. Both white collar and blue collar employees regularly get together on the golf course in American corporate culture. One of the main factors influencing the growth of sports each year is the social component.

How is the Golf Club Market Striving in Ireland?

Despite the fact that the sport of golf was created in Scotland, Ireland is where it is most widely practised. The Royal Dublin Golf Club, Cruit Island Golf Club, Adare Manor, and Hogs Head Golf Club are just a few of Ireland's top golfing destinations. With all these gorgeous golf courses all around you, it would be difficult to visit Ireland and not think of playing golf.

Almost all of Ireland's courses are open to the public, in contrast to Scotland and England, where the majority of courses are private. This undoubtedly increases golf's appeal in Ireland and contributes to their top-ranked status globally. The golf club market in Ireland is expected to grow at a CAGR of ~3.8%.

What is the Scope of Golf Club Market in India?

In the South Asia Region, India has been one of the prominent market for golf club market, the market is expected to grow with a CAGR value rate of ~4.3%. Growing number of golfers and the growing middle-class population's disposable money, India has a significant growth potential for golf clubs. The rise in golf tournaments and players is primarily responsible for the increase in sales of golf equipment. Despite the fact that men play golf more frequently, the number of female golfers has grown recently. Such factor will drive the sales for golf club market over the year.

Category-wise Insights

Which is the Most Popular Product Type of Golf Club?

In the product type segment, the Irons segment of golf clubs contributed a major share of ~41% in 2022. Irons are sold in sets of numbers, typically from three-iron to nine-iron or pitching wedge. While some irons have hollow heads, the majority have solid heads. The "loft" or angled faces of irons include grooves that help hold the golf ball and provide spin. They are typically utilised for tee shots on short holes or strokes from the fairway. The loft rises as the number of an iron grows but the length of the shaft falls.

On the Basis of End Use, Which Segment has Highest Demand in the Market?

Professional Golfers frequently consider the clubs they use. The most recent models from various brands, together with all the technical details regarding new technology. However, they don't always pause to consider which clubs they ought to use. Depending on the various weather and course settings, they are continually adjusting which clubs go into the bag each week.

On the other hand the amateur golfers tend to play with whatever type of golf club is available as they majorly play golf for the purpose of leisure. While some of the amateur golfers also rent the golf clubs rather than purchasing one. As a result, the professional segment held the major share of ~92.9% of the global market and is expected to hold its position throughout the projection period.

Which Sales Channel will Gain Traction throughout the Forecast Period?

Customers prefer to buy golf club from these shops because they can compare prices and features quickly and there are many different brands available in one place. These companies' presence inside golf courses often increases sales. Customers are enticed to shop at these establishments by discounts offered in exchange for club membership. The online retailer segment is anticipated to have the greatest CAGR of ~7.6% during the anticipated timeframe. In golf equipment, golf balls, helmets, gloves, and carts are just a few of the items that are regularly purchased online because their technical parameters are already known.

Competition Landscape

The global golf club market represents a fairly consolidated competition landscape, where a majority of key golf club players maintain their strategic focus on product development, frequent product launches and merger & acquisition.

For Instance:

  • Callaway Golf, a pioneer in Golf Club design, performance, and innovation, will formally introduce its new Paradym Family of Woods and Irons in 2023. Created with brand-new product structures, unmatched distance, and forgiveness for a radical transformation in performance.

Golf Club Industry Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2018-2022

Market Analysis

  • US$ Million for Value
  • Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • South Africa
  • Northern Africa
  • GCC Countries
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand

Key Market Segments Covered

  • Product type
  • Hand Orientation
  • Price Range
  • End Use
  • Consumer Orientation
  • Sales Channel
  • Region

Key Companies Profiled

  • TaylorMade Golf Company, Inc.
  • Callaway Golf Company
  • The Acushnet Holdings Company
  • Mizuno USA, Inc
  • Rock Bottom Golf
  • Cleveland Golf Company, Inc.
  • Bridgestone Sports Ltd
  • Cobra Golf
  • Henry Griffitts
  • Bettinardi Golf
  • Bobby Grace Putters
  • Cure Putters
  • Louisville Golf
  • Wilson Sporting Goods
  • Others (on request)

Customization & Pricing

Available upon Request

Key Segments Covered in Golf Club Industry Research

By Product Type

  • Drivers
  • Fairways
  • Hybrids
  • Irons
  • Wedges
  • Putters

By Price Range

  • Premium/ High
  • Economy/ Mid-Range

By Hand Orientation

  • Left Handed Clubs
  • Right Handed Clubs

By Consumer Orientation

  • Men
  • Women
  • Kids

By End Use

  • Amateur
  • Professionals

By Distribution Channel

  • Direct
  • Indirect
    • Modern Trade
    • Exclusive Stores
    • Specialty Stores
    • Sports Chain Outlets
    • Online Retailers
    • Others

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East Africa

- Companies Covered in This Report -

  • TaylorMade Golf Company, Inc.
  • Callaway Golf Company
  • The Acushnet Holdings Company
  • Mizuno USA, Inc
  • Rock Bottom Golf
  • Cleveland Golf Company, Inc.
  • Bridgestone Sports Ltd
  • Cobra Golf
  • Henry Griffitts
  • Bettinardi Golf
  • Bobby Grace Putters
  • Cure Putters
  • Louisville Golf
  • Wilson Sporting Goods
  • Others (as per request)

- Frequently Asked Questions -

The global golf club market reached a valuation of US$ 10,174.3 million at the end of 2022.

Between 2018 and 2022, global sales of golf club increased at ~1.3% CAGR.

North America leads the global market and accounted for highest share in 2022.

Some of the leading manufacturers of golf club are TaylorMade Golf Company, Inc., Callaway Golf Company, The Acushnet Holdings Company, Mizuno USA, Inc., Rock Bottom Golf, Cleveland Golf Company, Inc., Bridgestone Sports Ltd., Cobra Golf, Henry Griffitts, Bettinardi Golf, Bobby Grace Putters, Cure Putters, Louisville Golf, Wilson Sporting Goods among others.

The global market for Golf Club is expected to expand at ~2.5% CAGR through 2033.

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