Golf Club and Set Market | Top Manufacture, Analysis, Size ($4.9 Bn), Trends, Growth (3.9%) and Industry Forecast | 2022 to 2031
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Golf is a sports activity popular among business individuals as it is used as a means to offer closure of business deals. Golf clubs & sets consist of various items that are essential to play the sport of golf, and are also crucial in providing an enriched experience to the player. Golf clubs & sets include golf balls, golf shoes, golf clubs, and other aids such as wedges and putters. The key factors that fuel the Golf Club and Sets Market are increasing consumers' disposable income, growth in professional and amateur female golfers, and the trend of golf tourism, owing to the setup of golf courses across the world. However, factors such as busy work schedules leading to a lack of any leisure activity and high membership costs resulting in lower registrations impede the growth of the market.
The emerging trend of golf tourism due to the presence of numerous golf courses across the world, the increase in the middle-class population, and the growth in the number of professional and amateur female golfers drive the market growth. The Gulf Cooperation Council (GCC) and Caribbean countries have become popular golf tourism destinations, owing to the availability of modern and advanced facilities. Golf is an expensive outdoor recreation activity that is popular among business individuals and amateur players.
The investments required for the construction of golf courses are high. Thus, the lack of infrastructure in most of the underdeveloped and developing economies globally restrains the growth of the Golf Clubs and Sets Market. Moreover, the rise in popularity of alternate sports & leisure activities among end users and seasonal attributes of golf are expected to adversely impact the market during the Golf Club and Sets Market Forecast period.
The research provides detailed segmentation of the global golf club and sets market based on type, application, distribution channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on type, the irons segment held the highest share in 2021, accounting for nearly two-fifths of the global golf club and sets market, and is expected to continue its leadership status during the forecast period. However, the hybrids segment is expected to register the highest CAGR of 4.6% from 2022 to 2031.
Based on application, the leisure segment accounted for the highest share in 2021, contributing to nearly 90% of the global golf club and sets market, and is expected to maintain its lead in terms of revenue during the forecast period.
Based on distribution channel, the specialty stores segment accounted for the highest share in 2021, holding nearly half of the global golf club and sets market, and is expected to continue its leadership status during the forecast period. However, the online stores segment is estimated to grow at the highest CAGR of 7.3% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to around half of the global golf club and sets market share, and is projected to maintain its dominant share in terms of revenue in 2031. On the other hand, the Asia-Pacific region is expected to manifest the fastest CAGR of 5.9% during the forecast period. The research also analyzes regions including Europe and LAMEA.
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Leading market players of the global golf club and sets market analyzed in the research include Acushnet Holdings Corp., Adidas AG, Amer Sports, Bridgestone Corporation, Callaway Golf Company, DICK'S Sporting Goods, Inc., Dixon Golf, Inc., Nike, Inc., Sumitomo Rubber Industries, Ltd, Robin golf, Ping, Inc, Bettinardi Golf, Cobra Golf, Pen fold Golf Limited, McGregor Golf, Hippo Golf, Infiniti Golf.
The report provides a detailed analysis of these key players of the global golf club and sets market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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