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


Golf Club  Market
  • Published On : Apr-2020 |
  • Pages : 350 Pages |
  • Format : Golf Club  Market Golf Club  Market Golf Club  Market Golf Club  Market

Golf is a leisure sport, and is thus often associated with the affluent consumer population. Leveraging this perception, manufacturers are offering golf simulators, which is further complemented by the advent of technology, and rapid innovations in the golf industry. Golf simulators are gaining immense popularity as an indoor game in many countries around the world.

Golfzon, a South Korea-based sports company, has developed golf simulators and is and providing them across the word. The company facilitated 56 million rounds in 46 countries in 2018, and even offers professional golf tours with season-long purses over US$ 1 million. As such, the increasing popularity of golf simulators is expected to catalyze the growth of the golf club market across the globe.

Innovative Technology to Propel Market Growth

Golf clubs have evolved immensely with time and technology. At present, golf club manufacturers are focused on technology-based golf clubs that are also lightweight. The usage of smart sensors aids swings and accuracy, and allows the golf club to be connected with a smartphone app. Golf customization is another technology that analyses thousands of combinations to figure out what is right for each player. It analyses players’ swing speed to angle of impact. Such innovative technologies are expected to push the growth of the golf club market over the coming years.

Rise in Number of Golf Courses to Accelerate Growth of Golf Club Market

Increasing number golf courses indicates the rising popularity of golf as a sport, and increasing number of participates across the globe. New golf courses that opened from 2014 to 2018 were highest in terms of number in North America (131), followed by Asia (126). In 2018, North America held 32% of the total golf courses of the world, while Asia held 30%, followed by Europe (24%). However, in the under development category, Europe and Asia hold the same share (28%), followed by North America (25%).

Growing popularity of golf and increased participants in the sport have led to the opening of new courses across the world, which, in turn, is supporting the growth of the golf club market.

Different Consumer Demographics Creates Demand for Different Golf Clubs

Earlier, gold used to be played mostly by men, but now the scenario has changed across the world. Golf is gaining traction among all consumer demographics, especially females. Gen-x (age 39 to 54) and baby boomers (age 55 to 73), are considered as the primary driver for golf as a sport, and these groups prefer to play with lightweight golf clubs. Growing interest and participation in golf among the aged population and increasing participation by females are expected to expand the sales of lightweight golf clubs, such as those made of carbon fiber or graphite, further boosting the growth of the golf club market.

Golf Club Market: Competition and Regional Overview

The global golf club market represents a fairly consolidated competition landscape, where a majority of key golf club manufacturers maintain their strategic focus on product development, frequent product launches, and mergers and acquisitions.

  • In Jan 2020, Callaway launched its Mavrik golf driver for low spin.
  • In Jan 2020, Cobra Golf introduced its newest golf driver ‘Cobra Speedzone’ for the North American and European markets.
  • In Dec 2019, Intelligentgolf, a leading web-based provider of golf clubs and competition management software, acquired the assets of Open Solutions International, a business solutions and club management software provider.
  • In Nov 2019, NBC Sport Group acquired EZLinks Golf, the parent company of TeeOff.com, including its technology platforms and business solutions, to gain a strong foothold in the golf market.
  • In July 2019, Callaway launched Epic Forged Irons and Epic Flash Hybrids, and a line of Epic Flash Star Clubs.

Global sales in the golf club market reached US$ 9.7 Bn in 2018. According to PMR’s report, the golf club market is estimated to register a CAGR of 1.3% during the forecast period of 2019-2029. North America holds the largest market share for golf clubs, followed by East Asia. East Asia golf clubs sales are dominated by Japan, which has a large number of golf courses. Moreover, golf club manufacturing companies in Japan have high concentration as compared to other East Asian countries. The market in South Asia is expected to expand at a high CAGR during the forecast, owing to the growing number of golfers in India. Improving infrastructure in India, Thailand, and other South Asian countries is playing a key role in boosting golf as a sport, and eventually the golf club market.

Potential Impact of COVID-19

Several states in North America present attractive opportunities to golf industry operators. The primary market for golf clubs, asserting the lockdown on non-essential business activities, the golf club market is managing to stay afloat in regions where stay-at-home guidelines are not very stringent. However, a negative financial impact is inevitable, owing to factors such cancellation of the Professional Golfers' Association (PGA) tour and the spring season being the peak of the financial year.

Nevertheless, partial operations are moderately mitigating the financial impact of the pandemic on the golf club market, which is projected to witness a downtrend in the next three months, at the least. On a global scale, cancellation of major events such as the women’s LPGA tour in Thailand and Singapore, European Tour, and Hong Kong Open are expected to directly hit the global golf market.

Analysts’ Viewpoint

A brief overview of the changing landscape of the golf club market has led our analysts to conclude that, the market is gaining momentum. Key manufacturers in the golf club market such as Acushnet Holdings Corp., Callaway Golf Company, and TaylorMade Golf Company, Inc. are prioritizing innovation and new product development to gain a competitive edge in the market. Manufacturer could focus on lightweight golf clubs, owing to increased participation of female golfers and amateurs across the world.

Golf Club Market - Scope of the Report

Persistence Market Research (PMR) recently published a new report on the golf club market for the assessment period of 2019-2029. The report offers a close look at the evolving aspects of the golf club market and insights into the dynamics impacting market growth. It also focuses on key developments in the golf club market. The report includes various macro- and microeconomic factors responsible for significant impact on the golf club market.

The report on the golf club market extensively focuses on the key trends shaping its growth. Additionally, the included opportunity analysis on golf clubs underlines untapped corners for aspiring players. The report on the golf club market also offers a holistic view of the incremental opportunity, which can further help readers to make effective decisions for the growth of their businesses.

All the stakeholders in the golf club market can rely on the data offered in this report to make critical decisions. Moreover, the information offered in this report can also help new market entrants expand their bases in the golf club market.

The report elaborates on both, the historical and current trends shaping the market. The performance journey of the golf club market been drawn and analyzed to make lucrative opportunities in the market evident to readers. The competitive landscape presented in the golf club report gives a detailed outlook of the profiles of key companies operating in the market, along with their differential strategies and key focus areas.

Golf Club Market: Segmentation

PMR’s research study on the global golf club market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. The golf club market is segmented on the basis of product, hand orientation, price, demographics, sales channel, and region. Every segment is analyzed in detail, and data pertaining to the growth of each segment has been included in the study.

Product

Hand Orientation

Price

  • Golf Clubs
    • Drivers
    • Fairways
    • Hybrids
    • Irons
    • Wedges
    • Putters
  • Left-handed Clubs
  • Right-handed Clubs
  • Premium/ High
  • Economy/ Mid-range

Demographics

Sales Channel

Region

  • Men
  • Women
  • Kids
  • Direct
  • Indirect
    • Modern Trade
    • Exclusive Stores
    • Specialty Stores/ Sports Chain Outlets
    • On-course Outlets
    • Online Retailers
  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

The golf club market research report includes a competitive landscape that provides a dashboard view of the key competitors operating in the market. Some of the market players included in this section are Acushnet Holdings Corp., Callaway Golf Company, MIZUNO Corporation, Bridgestone Sports Co Ltd, TaylorMade Golf Company, Inc., Louisville Golf, Miura Golf Inc., Yamaha Golf, and others.

Golf Club Market: Key Questions Answered in Report

The research study on the golf club market offers inclusive insights about the growth of the market in the most comprehensive manner. Key insights offered in the golf club market report answer some of the most salient questions that assist stakeholders in gauging all the emerging possibilities.

  • How is the rapidly changing business environment impacting the growth of the golf club market?
  • What are the key trends that are constantly shaping the growth of the golf club market?
  • Which are the prominent regions that offer plentiful opportunities for players in the golf club market?
  • What are the differential strategies being adopted by key players to hold a significant share in the global golf club market?

Golf Club Market: Research Methodology

A unique and promising research methodology forms the base of the golf club market report for the forecast period. This report has been prepared after comprehensive analysis of market events, and riveting insights have been compiled meticulously. The research methodology for the golf club market is a two-step process, comprising primary and secondary research. Key stakeholders such as suppliers, service providers, and experts of several designations, including executive vice presidents, directors, technical advisor, GM marketing professionals, and sales professionals have been interviewed. Secondary sources referred to obtain information include investor presentations of manufacturers, World Bank, IMF, and other credible sources.

Companies covered in Golf Club Market 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
  • Other Players (As Per Request)
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