How Has the Golf Club Market Evolved Historically and What is its Current Size?
The golf club market has seen considerable growth due to a variety of factors.
•The size of the golf club market has been incrementally increasing over the past several years. From $7.76 billion in 2024, it is projected to grow to $8.02 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 3.4%.
The growth that was observed during the historical period can be accredited to the rise in the quantity of golf courses and establishments in emerging markets, heightened popularity of golf as a form of exercise, escalating interest in golf as a networking platform, the surge in the count of golf games and functions, and increasing enthusiasm towards golf as a recreational activity.
What is the Forecasted Market Size and CAGR for the Golf Club Market?
The golf club market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, a constant expansion is predicted in the golf club market, advancing to $9.61 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 4.6%.
Such growth during the projection period can be credited to the escalating demand for personalized golf clubs, expansion in golf courses and facilities, and increasing disposable income. Key trends during this period forecast include partnerships and collaborations, pioneering solutions, advancements in technology for golf club design, and market growth in significant regions.
What Are The Primary Growth Drivers In The Golf Club Market?
The golf club market is set to expand, fueled by escalating government efforts to encourage golf tourism. This refers to tourist pursuits primarily intended for golf playing as an additional activity during holidays or business trips. Golf clubs, the fundamental equipment and infrastructure for golf experiences, are vital in this tourism branch. The growth of the golf industry is facilitated by government undertakings that foster a favourable environment and forge partnerships with domestic and global golf bodies. For example, the RBC Canadian Open and CP Women's Open, professional golf events based in Canada, were bestowed an investment of $4.4 million by Canada's federal government in August 2022. This was aimed at generating vital economic advantages and drawing tourists from all over the region. Thus, the surge in government initiatives to endorse golf tourism is contributing significantly to the expansion of the golf club market.
What Is The Segmentation Of The Global Golf Club Market?
The golf club market covered in this report is segmented –
1) By Product Type: Woods, Hybrids, Irons, Wedges, Putters
2) By Hand Orientation: Left-Hand Clubs, Right-Hand Clubs
3) By Price Range: Premium Or High, Economy Or Mid-Range
4) By Distribution Channel: Super markets And Hyper markets, Specialty Stores, Online Retail, Other Distribution Channels
5) By Application: Leisure, Professional
Subsegments:
1) By Woods: Driver Woods, Fairway Woods, Utility Woods
2) By Hybrids: Hybrid Irons, Utility Hybrids
3) By Irons: Game Improvement Irons, Players Irons, Cavity Back Irons, Muscle Back Irons
4) By Wedges: Pitching Wedges, Sand Wedges, Lob Wedges, Gap Wedges
5) By Putters: Blade Putters, Mallet Putters, Counterbalanced Putters
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What Emerging Trends Are Shaping The Golf Club Market Landscape?
The surge of product innovation is a significant trend catching on in the golf club market. Prominent firms functioning in this market are introducing novel products as a strategy to maintain their market leadership. For example, Titleist, an American golf equipment production company, launched the TSR 2 and TSR 3 hybrids showcasing cutting-edge face designs in January 2023. The blade length of the TSR2 hybrid has been subtly enlarged, accompanied by a traditional design, resulting in enhanced speed and performance. Meanwhile, the TSR3 hybrid is devised to offer unprecedented precision and maneuverability, featuring an iron-like hybrid profile influenced by popular predecessors.
Who Are the Key Players in the Golf Club Market?
Major companies operating in the golf club market include:
• Bridgestone Golf Inc.
• Sumitomo Rubber Industries Ltd.
• Callaway Golf Inc.
• Topgolf Callaway Brands Corp.
• Amer Sports Oy
• Acushnet Holdings Corp.
• Mizuno Corporation
• TaylorMade Golf Company Inc.
• Wilson Sporting Goods Co.
• Ping Inc.
• Cobra Golf Inc.
• Cleveland Golf Company Inc.
• Honma Golf Ltd.
• Krank Golf
• Srixon Ltd.
• Miura Golf LP
• U.S. Kids Golf LLC
• Ben Hogan Golf Equipment Company
• Tour Edge Golf Inc.
• Lynx Golf Limited
• Parsons Xtreme Golf LLC
• Evnroll
• Bettinardi Golf
• Sub 70 Golf Ltd.
• Vega Golf
• Piretti Golf Inc.
• Fourteen Golf
What are the Regional Insights into the Golf Club Market?
North America was the largest region in the golf club market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the golf club market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
