Golf Club Market

COVID-19 Impact Analysis

• Due to the outbreak of the COVID-19 pandemic, countries had to enforce lockdown that restricted the consumers to move outdoors. Due to that, the demand for golf club decreased. The golf club market saw a dip in production as sufficient labours were not available to continue the production process. The sales procedure couldn't complete as there was the unavailability of stocks in stores and online retails.
• Disruption in the distribution channel was a significant reason because the manufacturing sectors were unable to obtain the appropriate raw material. It was not feasible to transport final items to specific retailers. Consumers could not visit the specialist shops, whilst websites were not available online.

Top Impacting Factors

• The market is anticipated to be affected by the increasing popularity of golf as a sport in various countries. The expanding wealth of the middle-class public and the increasing number of women golfer in the past few years may be linked to an important increase in demand for golf clubs.
• The increasing popularity and acceptance of golf as active activity drives the industry in large measure. In addition, luxury resorts and hotels provide sports activities in their facilities, one of which is golf. The construction of a mini-golf course to attract and support employers as a healthy leisure activity drives increasing golf club revenues.
• Specialty shops in the world market of golf equipment offer a range of different brands of golf items to select from; consumers are thus favored to buy golf equipment. However, with attractive discount policies given by the vendors, department & discount stores are projected to develop at a substantial rate. In addition, internet shops became the main distributor of golf equipment.

Market Trends

The construction of new golf courses is expected to fuel the growth of the golf club market.

Over the past several years, the number of golf courses worldwide has increased, particularly in the top golfing countries. In addition to being one of the major nations in the golf business, more than 50 per cent of golf courses are in the United States, Japan, Germany, Canada, South Korea, Sweden, France, and Italy. Mainly private clubs, golf-centric properties and golf resorts belong to these courses. More than 30 000 golf courses are available to the public globally, and over 70% are therefore widely accessible. There are now about 200 golf courses under construction and more than 350 golf courses worldwide. The construction of a new golf course shows that the demand for golf equipment throughout the predicted period has significantly increased.

New product launches to flourish the market.

The manufacturing companies have to invest in R&D to develop golf clubs with new material that makes the club more sturdy and lightweight. The club should be well-suited to enable the golfer to perform excellent strokes and decrease the risk. A new style of the golf club will attract consumers with increasing popularity, may increase sales. The advanced adjustable grip can replace conventional grip as consumers are likely to opt for new technology with added benefits. Progress in technology in golf clubs and balls should offer a new chance for the golf gear business. Technologically improved golf clubs enable golfers to hit the ball smoothly at a considerably wider distance.

Key Benefits of the Report

• This study presents the analytical depiction of the golf club industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the golf club market share.
• The current market is quantitatively analyzed to highlight the golf club market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed golf club market analysis on the basis of competitive intensity and how the competition will take shape in coming years

Questions Answered in the Report

• Who are the leading market players active in the golf club market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?