Global golf equipment market share was valued at USD 7.45 billion in 2021 and is expected to grow at a CAGR of 4.8% during the forecast period.

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The size of the Golf Equipment Market was valued at USD 11.89 Million in 2023 and is projected to reach USD 16.26 Million by 2032, with an expected CAGR of 4.57% during the forecast period. The golf equipment market is a significant sector within the sports industry, encompassing a wide range of products essential for playing golf, including clubs, balls, apparel, footwear, and accessories. This market has seen steady growth driven by an increasing number of golf enthusiasts and players globally, as well as rising participation rates among younger demographics. Innovations in technology, such as advanced materials and design techniques, have improved equipment performance, attracting both novice and experienced golfers looking to enhance their game. Moreover, the market benefits from a growing emphasis on health and fitness, as golf is perceived as a socially engaging activity that promotes physical activity and mental well-being. Retail channels for golf equipment include specialty sports stores, online platforms, and pro shops at golf courses, allowing consumers to access a diverse range of products. Additionally, the influence of professional tournaments and endorsements from high-profile golfers further stimulates demand. As sustainability becomes a priority for consumers, brands are also beginning to incorporate eco-friendly practices in manufacturing and packaging. Overall, the golf equipment market is expected to continue evolving, reflecting trends in technology, consumer preferences, and the broader landscape of recreational sports. Recent developments include: November 2023: Stitch Golf, a leading golf equipment provider, launched a new golf bag design, the SL 2 Air Walker golf bag. The bag has separate ball packets, tough zippers, double straps, and more storage space., August 2023: Callaway launched new Paradym Star Woods irons. Callaway added new driver, fairway wood, hybrid, and iron models to its Paradym lineup, emphasizing smaller weights, shafts, and grips., May 2023: ParX, a new golf brand entered the market and launched a range of golf gear and accessories with cutting-edge Fillium technology. The brand claims that its products are made with natural materials and provide comfort.. Key drivers for this market are: Popularity of Sports Tourism, Escalated Golf Participation Rates. Potential restraints include: Inclination Toward Adventure Sports Activities. Notable trends are: Participation of Young Adults in Golf.

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The global golf equipment market is expected to rise from USD 7.92 billion in 2024 to USD 14.75 billion by 2037, registering a CAGR of over 4.9% during the forecast timeline, from 2025 through 2037. Key industry players include Under Armour, Inc., Company OverviewAcushnet Holdings Corp, Roger Cleveland Golf Company, among others.

As of January 2021, the screen golf market in South Korea was led by Golfzon with its market share of around 60 percent. Golfzon is running screen golf lounges where people can enjoy golfing indoors with a virtual simulation screen.

After two years of decline, the Indonesian golf equipment market increased by 2.1% to $52M in 2023. Overall, consumption saw a remarkable increase. Golf equipment consumption peaked at $66M in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Forecast: Golf Clubs Market Size Value in the US 2022 - 2026 Discover more data with ReportLinker!

According to Cognitive Market Research, the global Golf Clubs and Equipment market size will be USD 7684.50 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 3073.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 2305.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1767.44 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 384.23 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 153.69 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
The Golf Club held the highest Golf Clubs and Equipment market revenue share in 2024.

Market Dynamics of Golf Clubs and Equipment Market

Key Drivers for Golf Clubs and Equipment Market

Increasing Focus on Technology and Innovation to Increase the Demand Globally

The increasing focus on technology and innovation is driving the golf clubs and equipment market as advancements enhance performance and player experience. Modern golf clubs now feature adjustable settings, advanced materials, and data-driven designs that improve accuracy, distance, and customization. Innovations such as smart golf clubs with sensors and integrated swing analysis tools appeal to tech-savvy golfers seeking better gameplay and detailed performance metrics. Enhanced technology also enables more precise fitting and personalization, attracting both amateurs and professionals. The drive for cutting-edge equipment not only boosts player satisfaction but also fuels competitive differentiation among manufacturers, contributing to significant market growth.

Rising Participation in Golf Tournaments to Propel Market Growth

Rising participation in golf tournaments is driving the golf clubs and equipment market by increasing demand for high-quality, specialized gear. As more amateur and professional tournaments are held globally, players seek advanced equipment to enhance their performance and gain a competitive edge. This growing participation stimulates interest in the latest innovations and technologies in golf clubs, balls, and accessories. Tournament play often highlights the need for precision and customization, driving consumers to invest in premium equipment. Additionally, the visibility of golf tournaments boosts the sport's profile, encouraging more players to invest in high-end gear to replicate the performance of their favorite athletes. This trend fosters continuous growth and innovation in the golf equipment market.

Restraint Factor for the Golf Clubs and Equipment Market

High Costs of Equipment to Limit the Sales

High costs are restraining the golf clubs and equipment market as premium pricing limits accessibility for a broad consumer base. Advanced golf clubs and equipment often feature cutting-edge technology and materials, which come with substantial price tags. This can deter budget-conscious players and reduce overall market penetration. Additionally, the high cost of frequent upgrades and replacements, driven by rapid technological advancements, can be a barrier for consumers. Economic downturns and fluctuations in disposable income further impact spending on luxury sports items. As a result, the market faces challenges in reaching wider demographics and achieving sustained growth, particularly in regions with lower average incomes or less emphasis on golf as a recreational sport.

Impact of Covid-19 on the Golf Clubs and Equipment Market

The COVID-19 pandemic had a mixed impact on the golf clubs and equipment market. Initially, the market faced disruptions due to factory closures, supply chain interruptions, and reduced consumer spending as golf courses and retail stores temporarily shut down. However, as restrictions eased, the pandemic led to a surge in interest in outdoor activities, including golf, as people sought safe, socially dis...

The global golf equipment market size reached USD 8.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 11.0 Billion by 2033, exhibiting a growth rate (CAGR) of 3.39% during 2025-2033. The inflating popularity of golf tournaments in several countries, along with the easy product availability across e-commerce websites, is propelling the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 8.2 Billion
Market Forecast in 2033	USD 11.0 Billion
Market Growth Rate 2025-2033	3.39%

IMARC Group provides an analysis of the key trends in each segment of the market, along with the golf equipment market forecast at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on the type and distribution channel.

According to Cognitive Market Research, the global Golf Equipment Manufacturing market size will be USD 10812.41 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 3033.00 million in 2024 and will rise at the compound annual growth rate (CAGR) of 3.4% from the year 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 2274.75 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1743.98 million in 2024 and will rise at the compound annual growth rate (CAGR) of 7.2% from the year 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 379.13 million in 2024 and will rise at a compound annual growth rate (CAGR) of 4.6% from the year 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 151.65 million in 2024 and will rise at the compound annual growth rate (CAGR) of 4.9% from the year 2024 to 2031.
The online category is the fastest growing segment of the Golf Equipment Manufacturing industry

Market Dynamics of Golf Equipment Manufacturing Market

Key Drivers for Golf Equipment Manufacturing Market

Growing Popularity of Golf Globally to Boost Market Growth

The key driving factor for the golf equipment manufacturing market is the growing global popularity of the sport, particularly in emerging markets. Golf is no longer restricted to traditional regions like North America and Europe; Asia-Pacific, especially countries like Japan, China, and South Korea, are experiencing a surge in the number of players and courses. This trend is driving demand for high-quality golf equipment, ranging from clubs to balls, apparel, and accessories. The rise of international tournaments, increasing middle-class participation, and enhanced media coverage contribute to making golf a popular recreational and competitive sport. As more individuals embrace the sport, golf equipment manufacturers are experiencing higher demand for specialized, durable, and performance-enhancing products, stimulating innovation and product diversification in the market. For instance, Callaway Golf launched a new Rogue Family of irons, fairway woods, hybrids, and drivers. Such initiatives are further foreseen to drive demand in the coming years

Technological Advancements in Golf Equipment to Drive Market Growth

The continuous technological innovation in golf equipment, which enhances players' performance, drives the market growth. Manufacturers are increasingly integrating advanced materials such as carbon fiber, titanium, and composite alloys to develop lighter, more aerodynamic clubs and balls, which improve swing speed, accuracy, and distance. Moreover, equipment like high-tech rangefinders and smart golf watches are gaining popularity, allowing players to track performance metrics in real time. Customizable equipment that can be tailored to individual playing styles and preferences is also in demand. These innovations attract both professional and amateur players seeking improved game performance, fueling the growth of the golf equipment manufacturing market.

Restraint Factor for the Golf Equipment Manufacturing Market

Environmental Concerns and Sustainability Challenges Will Limit Market Growth

Golf equipment manufacturing faces increasing scrutiny due to its environmental impact, which acts as a restraining factor in the market. The production of golf balls, clubs, and other gear often involves the use of non-renewable resources, toxic chemicals, and energy-intensive processes. This contributes to carbon emissions and waste generation, clashing with the growing global emphasis on sustainability. Additionally, the materials used in many high-end products, such as titanium and exotic composites, raise concerns about sourcing and disposal. As consumers and regulators push for eco-friendly alternatives, manufacturers may encounter rising costs in shifting toward sustainable practices, including material innovation and process optimization.

Impact of Covid-19 on the Golf Equipment Manufacturing Market

The COVID-19 pandemic had a mixed impact on the golf equipment manufacturing market. Initially, production and s...

In 2023, after two years of growth, there was decline in the Thai golf equipment market, when its value decreased by -2.5% to $73M. In general, consumption recorded a noticeable decrease. Over the period under review, the market attained the maximum level at $130M in 2013; however, from 2014 to 2023, consumption remained at a lower figure.

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The golf equipment market is expected to grow at a CAGR of 2% during the forecast period. Increasing focus on healthy lifestyles, drivers.2, and drivers.3 are some of the significant factors fueling golf equipment market growth.

Increasing focus on healthy lifestyles

Market definition Golf equipment includes a wide range of products that are used by the golfer in the process of playing golf. This includes golf clubs, golf balls, golf bags, and golf shoes. To calculate the market size, the report has taken into consideration the revenue generated from the retail sales of golf equipment to individual consumers. Golf facility operations contribute the largest share of revenue to the golf economy. They generate their revenues from membership fees, range fees, golf car rentals, and associated spending on food and beverages. The revenue generated helps in supporting the supply sectors, including golf equipment manufacturers. Golf supplies mainly include golf equipment such as golf balls, golf carts, tees, golf apparel, golf clubs, rangefinders, and golf books. The global gold equipment market considers the following categories: By product segment includes: Golf clubs Gol balls Golf bags Golf shoes By retail formats segment includes: Offline Online The geographic coverage of the report is global with the following segments: North America Europe APAC South America MEA The exhibit below provides an illustrative view of the offerings that are included to create the market definition of the global golf equipment market. This market definition has a significant impact on the market sizing provided in the report. Offerings of vendors included in the market definition Vendor Products included in the market definition Acushnet Holdings Corp. Men's UA Storm Speedround Golf Bag and Men's UA Spieth 4 GORE TEX Golf Shoes Amer Sports Corp. Wilson Staff Women's Cart and Weekender Bag and Wilson Staff Women's Cart Bag Bridgestone Corp. TOUR B JGR Fairway Woods and 14 way stand bag Callaway Golf Co. Chrome Soft Golf Balls and MAVRIK Staff Bag Mizuno Corp Mizono balls and Mizono bags Nike Inc. Nike Air Max 270 G and Nike Sport Lite Golf Bag PUMA SE Women IGNITE Blaze Pro Golf Shoes and Women IGNITE Blaze Sport DISC Golf Shoes Ralph Lauren Corp RLX Nylon Golf Stand Bag Sumitomo Rubber Industries Ltd. Golf equipment Under Armour Inc. Men's UA Storm Speedround Golf Bag and Men's UA Spieth 4 GORE TEX Golf Shoes
Market segment analysis The global golf equipment market has been analyzed based on various dimensions and segments to help suppliers within the industry gain a better understanding of the structure of current demand and the components of demand that will drive growth in the future. It is expected that suppliers in the global golf equipment market outperform the overall industry would focus on the higher potential segments within the market. The product, retail formats, and geography segments of the global golf equipment market have been reviewed both qualitatively and quantitatively. Market segments Segment name Description Product Golf clubs, golf balls, golf shoes, and golf bags. Retail formats Offline and online Geography North America, Europe, APAC, MEA, and South America
Market size 2019 Recent trends and developments in the global golf equipment market have been tracked and quantified to size the market in 2019. The market size for 2019 has been developed by considering the following factors. To estimate the size of the global golf equipment market, Technavio has tracked the recent trends and developments in the industry. The market size has been developed in terms of value and volume, considering the following factors: Revenues: Taken in local currencies, if not available in US dollars, for each country and vendor and then converted to US dollars using the yearly average currency exchange rate of 2019, the base year. This implies that the figures reflect industry trends, not distorted by fluctuations in international exchange rates. Exclusions: The report does not consider the effect of inflation and price fluctuations during the forecast period Currency: Unless explicitly mentioned, all revenues are represented in US dollars The market sizing has been built and validated using multiple demand-side and supply-side approaches for a detailed understanding of the global golf equipment market. The specific market sizing approaches used for evaluating the global golf equipment market are: Top down: Validated the market based on the contribution of golf equipment to the global leisure products market Segmental extrapolation: Validated the market based on extrapolation of the size of one or more segments of the market Combination: Using a combination of more than one approaches described above and integrating the results in the data model Within the above-mentioned market sizing models, analysts have made assumptions and estimates listed below: Revenue generated by the leisure products companies man

The size and share of the market is categorized based on Type (Men Use, Women Use) and Application (Online Sales, Offline Sales) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The golf equipment market size is projected to exceed US$ 7,571.4 million in 2024. The industry is projected to surpass a valuation of US$ 11,758.1 million by 2034. The prevalence of online retail channels and the demand for customization options reshape the sales outlook. Consumers, attracted by the convenience of online shopping, increasingly seek personalized golf equipment to match their playing style.

Attributes	Details
Golf Equipment Market Value for 2024	US$ 7,571.4 million
Golf Equipment Market Value for 2034	US$ 11,758.1 million
Golf Equipment Market Forecast CAGR for 2024 to 2034	4.50%

Historical Performance and Future Growth of the Golf Equipment Market

CAGR from 2019 to 2023	3.40%
CAGR from 2024 to 2034	4.50%

Category-wise Insights

Attributes	Detail
By Product	Golf Club
Market Share in 2024	35.10%

Attributes	Detail
Dominating Sales Channel	Retail
Market Share in 2024	47.10%

Country-wise Insights

Countries	CAGR through 2034
United States	19.80%
Germany	20.50%
China	20.30%
India	20.80%
United Kingdom	21.10%

Forecast: Golf Clubs Market Size Value Per Capita in the US 2022 - 2026 Discover more data with ReportLinker!

In 2023, after two years of growth, there was significant decline in the Irish golf equipment market, when its value decreased by -14.7% to $16M. Over the period under review, consumption showed a mild setback. As a result, consumption attained the peak level of $20M. From 2017 to 2023, the growth of the market remained at a somewhat lower figure.

In 2023, Topgolf Callaway Brands Corp. had net sales of over three billion U.S. dollars in the United States. In the company’s second-largest market, Europe, just over 540 million U.S. dollars was made. That year, the golf equipment enterprise generated over 4.2 billion U.S. dollars’ worth of net sales in total. Topgolf Callaway Brands Corp. and Acushnet Established in 1982 by Ely Callaway, Topgolf Callaway Brands Corp. designs, manufactures, markets, and sells golf clubs, golf balls, as well as apparel and footwear, and is one of the largest golf equipment companies in the world. Acushnet, which is also an American manufacturer focused on golf products and one of Callaway’s main competitors, generated nearly 2.4 billion U.S. dollars of revenue in 2023. The U.S. golf course & country club industry In 2022, there was a forecast total of 9,052 golf courses and country clubs located across the United States, which is a drop of over 1,000 locations compared to 10 years earlier. While the number of courses and clubs in the country may have decreased over the last decade, the industry’s U.S. market size has remained relatively consistent between 2014 and 2023.

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The East Asian golf equipment market stood at $1.6B in 2023, increasing by 6% against the previous year. Over the period under review, consumption saw a strong expansion. Over the period under review, the market hit record highs in 2023 and is expected to retain growth in the immediate term.