Market Snapshot:
Golf clubs are golf equipment used to strike the golf ball in a game of golf. The popularity of golf is increasing among millennial that demands a better infrastructure (golf courses) and better equipment design. The manufacturers are focusing on innovative golf clubs design and there has been a shift from traditional wooden clubs to hybrid metallic, yet lightweight, golf clubs design. With United States having over 40% of world's total golf courses, there lies a huge opportunity for clubs manufacturers to expand their business reach.China, on the other side, is focusing on building up golf infrastructure owing to golf's sport importance in Olympics, which provides another bright prospect for stakeholders to access the market.
Segment Analysis
AMA Research have segmented the market of Global Golf Clubs market by Type, Application and Region. On the basis of Type, Woods are dominating the market in the year 2020
On the basis of geography, the market of Golf Clubs has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
Growing Popularity of Hybrid Clubs Made Up of Metals and Higher Lofted Woods and Multiple Products Offering with Innovative Design
Market Drivers
Rising Golf Tourism Owing to Growing Inclination Towards the Game and Growing Number of Professional and Amateur Golfers
Opportunities
Growing Online Platforms and Sales and Increase in Number of Golf Infrastructure in United States and Other Developed Countries
Restraints
- High Cost of Golf Memberships Limits the Demand
- Low Penetration of Golf Sport in Emerging Countries
In addition to the aforementioned factor, Rising Golf Tourism Owing to Growing Inclination Towards the Game
is expected to propel the growth of the market over the forecast period.
The key Vendors profiled in the study are Bridgestone Golf [United States], Callaway [United States], TaylorMade Golf [United States], Cobra Golf [United States], Mizuno [Japan], Wilson [United States] and Yonex [Japan]. A lot of United States players are profiled in the research study indicating a strong market dependence.