The global golf clubs market is anticipated to grow at a CAGR of 3.0% during the forecast period (2022-2028).The major factor expected to drive the market growth is the growing popularity and adoption of golf as an active sport. Furthermore, premium resorts and hotels are incorporating sporting activities in their hospitality facilities, golf being one of them. The establishment of miniature golf courses to increase the inflow of patrons, and endorsing a healthy leisure activity are contributing to the rising demand for golf clubs. These are some factors that propel the growth of the global golf clubs market during the forecast period.
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Moreover, the increasing number of golf courses indicates the rising popularity of golf as a sport, an increasing number of participants across the globe, along with the growing interest and participation in golf among the aged population, and increasing participation by females are further boosting the growth of the golf club market during the forecast period. Additionally, by distribution channel, the online segment is expected to hold significant share in the market during the forecast period owing to the increasing popularity of e-commerce and the dependence of Generation X, millennials, and Generation Z on the internet.
Some major players in the market include Callaway Golf Co., Sumitomo Rubber Industries Ltd.,and Acushnet Holdings Corp., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in Jan 2020, Callaway Golf Company announced the launch of its Mavrik golf driver for a low spin. Further, in December 2019, Intelligent golf Ltd. a provider of golf clubs and competition management software announced the acquisition of the assets of Open Solutions International, a business solutions and club management software provider. Additionally, in November 2019, NBC Sports Group announced the acquisition of EZLinks Golf, the parent company of TeeOff.com, including its technology platforms and business solutions, to gain a strong foothold in the golf market.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Hand Orientation
- By Application
- By End-User
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Callaway Golf Co., Sumitomo Rubber Industries Ltd., and Acushnet Holdings Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Golf Clubs Market Report by Segment
By Hand Orientation
- Left-Handed Clubs
- Right-Handed Clubs
By Application
- Leisure
- Professional
By End-User
- Men
- Women
- Kids
By Distribution Channel
- Direct
- Indirect
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