Golf clubs Market Size, Share, Growth, and Industry Analysis, By Type (Woods, Irons, Putters, Wedges and Hybrids), By Application (Offline Sales and Online Sales) and Regional Forecast to 2032

Updated On: 04 November 2024

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GOLF CLUBS REPORT OVERVIEW

The global Golf Clubs Market size was USD 4.807 billion in 2023 and the market is projected to touch USD 6.64 billion by 2032, exhibiting a CAGR of 3.2% during the forecast period.

Golf clubs are used to play golf to strike a golf ball. A golf club has a club head and shaft with a grip. The golf clubs come in different types, similar as wood, iron, putter, hybrids and wedges. Generally, wood clubs are used for long- distance shots, irons for various shots, hybrids are a combination of wood and iron for versatility, and putters are used to rolling the ball into a hole.

A global golf clubs market is driven by the adding fashionability of golf and its relinquishment as an active sport. Also, the high- end resorts produce the golf sports area to give rest exertion to consumers, which determines the growth of a global golf clubs market. In addition, the youthful population is espousing new sports conditioning for fitness knowledge driving the demand for golf clubs in the worldwide market.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Labour Shortage

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The golf club market saw a dip in product as sufficient labours weren't available to continue the product process. The deals procedure could not complete as there was the attainability of stocks in stores and online retails. Dislocation in the distribution channel was a significant reason because the manufacturing sectors were unfit to gain the applicable raw material. It wasn't doable to transport final particulars to specific retailers. Consumers couldn't visit the specialist shops, whilst websites weren't available online.

LATEST TRENDS

New product launches to flourish the market

A latest trend in the global golf clubs market is the rising demand for new product. The manufacturing companies have to invest in R&D to develop golf clubs with new material that makes the club more sturdy and lightweight. The club should be well- suited to enable the golfer to perform excellent strokes and drop the threat. A new style of the golf club will attract consumers with adding fashionability, may increase deals. The advanced malleable grip can replace conventional grip as consumers are likely to conclude for new technology with added benefits. Progress in technology in golf clubs and balls should offer a new chance for the golf gear business. Technologically bettered golf clubs enable golfers to hit the ball easily at a vastly wider distance.

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GOLF CLUBS MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Woods, Irons, Putters, Wedges and Hybrids

Woods: Golf club woods are designed for long shots and are distributed by their garret angle, with motorist having the smallest and 3- wood having the loftiest. They offer varying situations of distance and line control.

Irons: Irons in the golf club market are essential for mid-range shots and offer a variety of garret angles, from short irons for high line to long irons for low line. They're designed for perfection and control, pivotal for scoring.

Putters: Putters are pivotal for the final shot on the green, designed for delicacy and finesse. The golf club market offers a wide variety of putter styles, from traditional blade putters to mallet putters, feeding to different strokes and preferences.

Wedges: Wedges in the golf club market are specialized clubs designed for short game perfection. They enhance delicacy and control, with varying cocklofts to execute precise shots around the green.

Hybrids: Hybrids in the golf club market combine features of irons and woods, offering versatility and remission. They enhance playability, making it easier for golfers to achieve distance and delicacy from various lies.

By Application

Based on application the global market can be categorized into offline sales and online sales.

Offline Sales: In offline deals, the golf club market focuses on substantiated client experience, allowing hands- on trials, expert fittings, and acclimatized advice. This approach builds trust and fosters long- term client connections.

Online Sales: In online deals, the golf club market leverages e-commerce platforms, furnishing a broader reach and convenience. Virtual befitting technologies, client reviews, and detailed product information enhance buyer confidence and satisfaction.

DRIVING FACTORS

Increasing popularity of golf as a sport to Propel Growth in Market

One significant key driving factor in the golf clubs market growth is the rapidly increasing popularity of golf as a sport. The global golf market is anticipated to be significantly impacted by the rising popularity of golf as a sport in various countries around the world. As further individualities, particularly young generations, embrace the game, the demand for golfing equipment, vesture, and accessories is anticipated to launch. This market is driven by factors similar as increased rest time, growing disposable flows, and a lesser emphasis on health and heartiness conditioning. Moreover, the expansion of golf courses and the emergence of innovative technologies in the assiduity are also anticipated to contribute to the market's growth. Manufacturers and retailers in the golf sector will need to acclimatize to these changing consumer preferences and market dynamics to remain competitive.

The Construction of New Golf Courses Is Expected To Fuel the Growth of the Market

Another crucial factor impacting the golf clubs market is the construction of new golf courses. As the sport earnings popularity, particularly in developing countries, inventors are investing in new, modern courses, creating a lesser demand for high- quality golf clubs. These new courses attract a wider range of golfers, from newcomers to educated players, who bear equipment that meets their specific requirements and skill position. The expansion of golf courses not only increases the number of golfers but also incentivizes being players to upgrade their equipment, farther bolstering the demand for golf clubs.

RESTRAINING FACTORS

Rise of Alternative Sports and Leisure Activities to Hamper Market Growth

One of the primary restraining factors in the golf clubs market is the rise of alternative sports and leisure activities. The adding need to de-stress from the current fast- paced life among the global population is contributing to the demand for rest conditioning and out-of-door sports. Further and further consumers are turning to nature- grounded out-of-door adventures to take a break from overcrowded metropolises, presto- paced cultures, and weakened surroundings. The increase in recreational expenditure, anticipated over the cast period, will also add to the fashionability of rest conditioning and out-of-door sports. Therefore, the rise in adventure conditioning among youth can pose a threat to the market. As golf is considered to be time- consuming and precious, the youth population hesitates to play golf simply. This has led to reduced golf passages and lower expenditure on golf equipment. These factors will hamper the golf equipment market.

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GOLF CLUBS MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America and Middle East & Africa

North America Region Dominating the Market due to High Popularity of Sports

North America has emerged as the most dominant region in the global golf clubs market share due to several factors. North America dominated the golf club market, primarily due to the high popularity of golf in the United States, which has a large number of golf courses and a significant population of golfers. The region's established infrastructure and brand presence in golf also contribute to its market leadership. However, it's essential to note that trends can change, so it's advisable to verify the current market conditions.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market through Innovation and Market Expansion

The golf clubs market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Callaway (U.S.)
• TaylorMade (U.S.)
• Acushnet (U.S.)
• Ping (U.S.)
• Dunlop Sports (Japan)
• Cobra (Puma) (U.S.)
• Mizuno (Japan)
• Bridgestone (Japan)
• Honma Golf (China)
• PXG (U.S.)
• Wilson (Amer) (U.S.)
• Yonex (Japan)
• Tour Edge (U.S.)
• S. Kids Golf (U.S.)

INDUSTRIAL DEVELOPMENT

August 2024: Callaway, headquarters in U.S., announced NEW APEX AI 200, APEX AI 300 and APEX TI fusion irons. One of the industry's leaders in equipment design, performance, and innovation, announced their new line of Apex Irons. This announcement is led by Apex Ai200 and Apex Ai300 offerings with performance that stands alone. These are the irons with a forged body and forged Ai Smart Face for distance, feel, and exceptional spin control.  Apex Ai200 is Callaway's most complete players distance iron, featuring an elegant hollow-body design that blends performance and precision. Apex Ai300 is Callaway's most complete forged game-improvement iron, highlighted by an elegant cavity-back design with a slightly larger profile that blends performance and forgiveness. Apex Ti Fusion breaks the tradeoff between a traditional one-piece and two-piece iron by creating more deflection than steel, with more urethane interaction and a forged body. 

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.