The global golf equipment market size was US$ 7,322.9 million in 2021. The global golf equipment market size is forecast to reach US$ 10,160.3 million by 2030, growing at a compound annual growth rate (CAGR) of 4% during the forecast period from 2022 to 2030.

Golf is a popular sport among business people because it is a means to close business deals. Golf equipment refers to a variety of items used during the game of golf. The sport of golf requires a variety of equipment, including golf clubs, balls, bags, shoes, and more. 

Factors Influencing Market Growth

• Due to the establishment of golf courses worldwide, golf equipment market trends such as increasing consumer disposable income, professional and amateur golfers growing in number, and golf tourism are rising. Thus, these factors are driving the global market growth. 
• Several factors may slow down the overall market growth, including busy work schedules, low leisure activities, and high membership fees that result in fewer registrations.
• New product launches, celebrity endorsements, partnership programs, and social media marketing are a few of the strategies used by top companies. In turn, the market will benefit from new and innovative marketing methods and rising golf equipment market demand.

Impact Analysis of COVID-19 

COVID-19 pandemic negatively affected golf equipment market growth. 

Several countries announced lockdowns in order to combat the spread of COVID-19. As a result, it caused travel restrictions across borders. Thus, the global demand for golf equipment decreased since people focused on buying only essential items. In addition, the lockdown has harmed the supply chain disruptions, lack of workforce, and resource availability. Thus, all these factors have negatively impacted global market sales and production.

Regional Insights

The Asia Pacific region is forecast to grow significantly in the golf equipment market during the forecast period. The popularity of golf in China is steadily increasing. In addition, the International Golf Federation reports the China Golf Association has in excess of 500,000 members, leading to further growth in the Asia-Pacific golf equipment market. In addition, increasing media coverage of international golf events has elevated its popularity. As a result, the younger population is more likely to participate in sports such as golf, which boosts the golf equipment market in the region.

Leading Competitors

The leading prominent companies profiled in the global golf equipment market are:

• Acushnet Holdings Corporation
• Roger Cleveland Golf Company, Incorporated
• Golfsmith International Holdings, Incorporated
• Nike, Incorporated
• Amer Sports Corporation
• Bridgestone Sports Limited
• Sumitomo Rubber Industries Limited.
• Callaway Golf Company
• TaylorMade Golf Company
• PING
• Other Prominent Players

Scope of the Report

The global golf equipment market segmentation focuses on Type, Distribution Channel, and Region. 

Segmentation based on Type

• Golf Clubs
• Golf Balls
• Golf Shoes
• Others

Segmentation based on Distribution Channel

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

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America