The global golf equipment market size
is expected to reach USD 7.60 billion by 2025, expanding at a CAGR of 2.2% in
the forecast period, according to a new report by Grand View Research, Inc. The
market is driven by the adoption of sports for recreational activities by the
young population. Increasing income of middle-class economic group and
westernization in the developing countries is propelling the product demand.
Golf club accounted for the largest market
share of more than 45.0% in 2018 and is expected to continue witnessing a
significant growth over the forecast period. Availability of customized and
assorted golf clubs and their rising popularity is driving the growth. Golf
gears is projected to witness the fastest CAGR of more than 3.5% during the
forecast period. Increasing number of professional players and availability of
online discounts are among the prominent factor driving the segment growth.
Sports goods retailers is emerged as the
leading distribution channel with a market share of more than 55.0% in 2018.
Availability of a large variety of products and rising number of golf courses
are among the prominent growth drivers. Online retail is expected to register
the fastest CAGR of more than 4.0% CAGR over the forecast period. Various
schemes such as online discounts, one day delivery, and busy schedules of the
working population are anticipated to fuel the segment growth.
North America led the golf equipment market
with a share of more than 54.0% in 2018. The changing lifestyle along with
increase in disposable income of the middle-class population is among the
prominent factors for the regional growth. Asia Pacific is anticipated to
register the fastest CAGR of more than 2.5% over the forecast period. The
growing adoption of the sport, particularly in china, is anticipated to bode
well for the growth.
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or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/golf-equipment-market
https://www.grandviewresearch.com/industry-analysis/golf-equipment-market
Further key finding from the report suggests:
· In terms of revenue,golf gear product type
is projected to ascend at a CAGR of 3.2% over the forecast years
· Golf clubs is among the most preferred
product and accounted for more than 37.0% share of the golf equipment market in
2018
· Asia Pacific is anticipated to register the
fastest CAGR of more than 2.5% over the forecast period due to growing
disposable income coupled with the rising popularity of the sport, especially
in China
Grand View Research has segmented the
global golf equipment market on the basis of product, distribution channel, and
region:
Golf Equipment Product Outlook (Revenue,
USD Billion, 2015 - 2025)
·
Golf Club
·
Golf Balls
·
Golf Gear
·
Golf Footwear & Apparel
Golf Equipment Distribution Channel Outlook
(Revenue, USD Billion, 2015 - 2025)
·
Sports Goods Retailers
·
Online Retail
·
Department & Discount Stores
Golf Equipment Regional Outlook (Revenue,
USD Billion, 2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle east & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
