The global Golf Equipment market size is expected to reach close to USD 15.44 Billion by 2029 with an annualized growth rate of 4.21% through the projected period.
Major factors probable of driving the global golf equipment market growth include increasing global popularity of golf among elderly people and outgrowth in golf tourism. Moreover, golf not only enhances physical properties among golfers but also enables mental wellbeing, coupled with better socializing movement. On the other hand, lessening number of golfers across the globe can restraint the golf equipment market over the forecast spell.
The global golf equipment market has been segmented by different product type, application and geography. Further, product type segment of the market has been categorized into golf clubs, shoes, golf balls and others. Golf balls division of the segment are further bifurcated into practice balls, advanced balls and others. Moreover, golf ball division is anticipated to dominate the market with major golf equipment market share owing to recurring necessity of the equipment in golf. Further, golf clubs are further divided into hybrid, iron, wood and others. Likewise, application segment of the golf equipment market across the globe has been sub-segmented into commercial and private.
Geographically, the global golf equipment market has been divided into several key regions covering Europe, North America, Middle East & Africa, Asia Pacific and South America. North America and Europe are estimated to be golf equipment market leader in upcoming years because of the existence of several established manufacturers of golf equipment. Though, the rising popularity of the golf across the emerging economies, for instance India and China are likely to boost golf equipment market growth in Asia Pacific region.
Some of the key players operating in the competitive edge of golf equipment market across the world include Amer Sports, Acushnet Company, Dixon Golf Inc., Callway Golf Company, Roger Fila Golf, Cleveland Golf Company Inc., True Temper, Cobragolf.com, Golfsmith International Holdings Inc. and TaylorMade Golf Company Inc.
Key segments of global golf equipment market include:
- Product Type segment of golf equipment market
- Golf clubs
- Golf balls
- Application segment of golf equipment market
- Geographical segmentation of golf equipment market
- North America
- Middle East & Africa
- Asia Pacific
- South America