Major players dominating the global golf equipment market are Callaway Golf Company, Bridgestone Golf, Cleveland Golf, and TaylorMade. Other key players include Nike Golf, Dixon Golf, Dunlop Sports Co. Ltd., Turner Sports Interactive Inc., and American Golf.
Golf equipment comprises various items that are used to play the sport of golf. Different types of equipment include the golf ball, implements designed for striking the golf ball, devices that used to play a stroke, and items that in some way enrich the playing experience. Other equipment includes balls, clubs, gloves, shoes, ball markers, tees, club head covers, ball mark repair tools and other aids such as golf bag and golf carts.
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Golf balls were made of a hardwood such as a beech, whereas more expensive golf balls were made of leather skin stuffed with down feathers. There are three major types of clubs including woods, irons, and putters. A tee is an object, wooden or plastic, that is pushed into or placed on the ground to rest a ball on top of for an easier shot. The golfer typically transports golf clubs in a golf bag. Modern golf bags are made of nylon, canvas and/or leather, with plastic or metal reinforcement and framing. Golf carts are vehicles used to transport golf bags and golfers along the golf course during a round of golf. Other equipment includes towels, club head covers, ball mark repair tool, other aids such as ball retrievers, rangefinders, stroke counters, positional guides, ball washers, golf training aids.
Based on the equipment type, the global golf equipment market is segmented as golf balls, golf clubs, and golf shoes. The golf balls segment is further sub-segmented as recycled balls, markouts or x-outs, practice or range balls, advanced balls. The golf clubs segment is further sub-segmented as iron, wood, putter, and hybrid.
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Key factors fuelling the growth of golf equipment market are the increase in golf tourism, the rise in a number of professional and amateur female golfers, and the development of new golf courses. Moreover, it is an outdoor activity that provides ample opportunities for the consumers to spend their quality time. This, in turn, contributes to the growth of golf equipment market. In addition, the increase in the number of high net worth individuals in the emerging markets and the introduction of customer-friendly online booking portals for the golf court are some of the other factors driving the growth of the global market.
North America and Europe dominate the global golf equipment market. Modern lifestyles of the North American population to invest in leisure activities are the prime factor driving the growth of golf equipment market. Moreover, the governments’ initiatives to promote region-based tourism is another factor impacting the growth of the market in a positive way.
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Golf equipment Market: Regional Segment Analysis
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