Global Golf Equipment Market Swings to a US$ 9.7 Billion Forecast by 2028, Driven by Surging Popularity and Innovations

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Dublin, Sept. 26, 2023 (GLOBE NEWSWIRE) -- The "Golf Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global golf equipment market, valued at US$ 7.6 billion in 2022, is projected to achieve remarkable growth, reaching US$ 9.7 billion by 2028, with an anticipated Compound Annual Growth Rate (CAGR) of 4% during the period 2023-2028, according to a comprehensive report by [Publisher Name].

Golf Equipment Enhancing the Game and Well-being

Golf equipment encompasses an array of products and items essential for playing the sport of golf. These include golf clubs, balls, shoes, bags, gloves, wearables, and more.

Golf not only enjoys global popularity as a sport but is also recognized for its contribution to physical fitness, improved sleep patterns, reduced anxiety and depression, enhanced heart health, and boosted concentration.

Golf equipment plays an integral role in enhancing performance, providing comfort, protection, and grip, thus contributing significantly to a gratifying golf experience.

Market Trends and Growth Drivers

The growth of the golf equipment market is underpinned by several key trends:

  1. Growing Popularity of Golf: Golf's association with physical fitness, weight loss, enhanced concentration, and heart health has contributed to its surging popularity worldwide. This, coupled with the increasing number of golf courses, rising participation rates, especially among millennials, and the growing appeal of golf tournaments in various countries, is driving market growth.
  2. Product Innovations: The introduction of smart sensors and grips that can automatically record and analyze every golf shot and pressure levels is revolutionizing the industry. Such innovations are creating new growth opportunities.
  3. Sustainable Practices: Golf equipment manufacturers are making significant strides in developing eco-friendly products. For instance, there is a growing trend in creating golf putters and drivers using recyclable materials, which not only enhances sustainability but also contributes to market competitiveness.
  4. Government Funding: Governments across the globe are actively investing in improving golf infrastructure, further stimulating the market.
  5. E-commerce Accessibility: The ease of purchasing golf equipment through e-commerce channels is enhancing market accessibility.

Key Market Segments

The report provides detailed insights and forecasts for key market segments:

Types:

  • Golf Clubs
  • Golf Balls
  • Golf Bags and Accessories
  • Golf Apparel and Footwear

Distribution Channels:

  • Specialty Stores
  • Sporting Goods Chains
  • On-course Shops
  • Online Stores
  • Others

Regions:

  • North America
  • Asia-Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Competitive Landscape

Key players in the golf equipment market include Acushnet Holdings Corp., Adidas AG, Amer Sports, Bridgestone Corporation, Callaway Golf Company, DICK's Sporting Goods Inc., Dixon Golf Inc., Mizuno Corporation, Nike Inc., PING, Puma SE, Sumitomo Rubber Industries Ltd., and TaylorMade Golf Co.

Key Questions Answered

The report answers pivotal questions about the global golf equipment market:

  1. How has the market performed thus far and what are its future growth prospects?
  2. What impact has COVID-19 had on the global golf equipment market?
  3. What are the key regional markets for golf equipment?
  4. What are the market's product and distribution channel segments?
  5. What are the driving factors and challenges in the golf equipment industry?
  6. Who are the key players, and what is the competitive landscape of the market?

Key Attributes:

Report AttributeDetails
No. of Pages145
Forecast Period2022 - 2028
Estimated Market Value (USD) in 2022$7.6 Billion
Forecasted Market Value (USD) by 2028$9.7 Billion
Compound Annual Growth Rate4.2%
Regions CoveredGlobal

For more information about this report visit https://www.researchandmarkets.com/r/s6mh7g

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Attachment

 
Global Golf Equipment Market

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