Golf Equipment Market Factors, Opportunities, Ongoing Trends and Key Players 2031

South Korea has grown to be a key market for screen golf because there is currently a need for players to improve their golf technique by playing on simulators. Additionally, golf is a sport that is often associated with wealthy people, and golf equipment makers are capitalising on this association.

Golf simulators, which are becoming more and more popular as an indoor activity in many nations, are made feasible by technological advancements and creativity in the golf industry.

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Key Takeaways of Global Golf Equipment Market Study

According to the report, the global golf equipment market represents a fairly consolidated landscape, where a majority of key players are maintaining their strategic focus on product development, new product launches, and mergers & acquisitions. The global golf equipment market is dominated by a few major players such as Acushnet Holdings Corp., Callaway Golf Company, and TaylorMade Golf Company, Inc.

PMR identifies North America as the largest market for golf equipment in 2019, followed by East Asia. The golf equipment market in the region is also driven by the number of courses and high number of golfers, which are higher in North America as compared to other regions.
Based on product, golf clubs hold the highest value share in the golf equipment market. Irons, drivers, and putters are the most preferred golf clubs, which hold around 80% of the golf clubs segment.

Online stores are projected to be the highest growth contributors to the golf equipment market during the forecast period, on account of easy product availability, lower prices as compared to physical channels, ability to compare products, and doorstep delivery. At present, specialty stores/ sports chain outlets under the offline segment holds most of the market.

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Surge in Female Participation Gaining Traction

Increasing number of female participation in sports have been noticed in the recent past, and the same is true for golf. Significant participation has been observed in countries such as the U.S., the U.K., Japan, and Korea. This factor is expected to further drive the golf equipment market during the forecast.

PMR's report underlines groundbreaking insights into the competitive scenario of the golf equipment market, along with highlights of differential strategies used by manufacturers. Some of the key players identified across the value chain of the global golf equipment market include Acushnet Holdings Corp., Callaway Golf Company, Sumitomo Rubber Industries, Ltd., MIZUNO Corporation, Bridgestone Sports Co Ltd, Amer Sports Corporation, TaylorMade Golf Company, Inc., Louisville Golf, Miura Golf Inc., Yamaha Golf, and others.

Segmentation

Product

Golf Clubs
Drivers
Fairways
Hybrids
Irons
Wedges
Putters
Golf Balls
Golf Apparel
Golf Footwear
Golf Accessories
Bags
Hats
Gloves
Others

End User

Amateurs
Professionals

Sales Channel

Direct
Indirect
Modern Trade
Exclusive Stores
Specialty Stores/ Sports Chain Outlets
On Course Outlets
Online Retailers

Region

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

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