Golf Club is a stick used to hit the golf ball in the game of golf. The club contains a shaft with a grip and a club head. The major material utilized for the manufacture of the club is wood and such wooden clubs are mainly used for long-distance fairways while clubs made from other materials such as Iron, Putters, and hybrid are used according to the variety of shots. The market growth is primarily driven by increasing consumers’ disposable income, growth in professional and amateur golfers. As per Statista, in 2017, the number of golf participants in the U.S. stood at approximately 23.83 million. Around 8.8 million of these participants are said to be avid golfers. While as per the Club managers Association of Europe there were 4.15 million registered golfers in Europe. Further, the rising number of golf courses across the globe fuels market growth. For Instance: Europe had almost 7000 standard golf courses by 2017. However, the adoption of other games and high golf membership costs impedes the growth of the market.
Global Golf Club Market is valued at approximately USD 9.8 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 1.4 % over the forecast period 2019-2026 and is estimated to reach USD 11.1 billion by 2027.
The regional analysis of the global Golf Club market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the growing number of golfers population and rising number of golf courses in the region. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income and the trend of Golf would create lucrative growth prospects for the Golf Club market across the Asia-Pacific region.
Major market players included in this report are Taylor Made Golf Company Inc, Callaway Golf Company, Titleist, Dunlop, PING, MacGregor, Cleveland Company Inc, Honma Golf, Nike Golf, and KatanaGolf
The detailed segments and sub-segment of the market are explained below:
By Application: Sports Goods Stores, Specialty Sports Shops, Discount Stores, Pro Shops, Online Stores, Department Stores Others
By Type: Woods, Irons, Putters, Wedges
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