Allied Market Research

Global Golf Equipment Market Expected to Reach $9,666 Million by 2023


Report Code : A04223

quote Golf equipment market has witnessed growth owing to increase in golf tourism. According to the International Association of Golfing Tour Operators (IAGTO), the global golf tourism market was valued more than $12 billion in 2012, out of which the U.S. is reported to be the largest market in terms of golf as a sport. However, the rising middle-class population and investments in infrastructure in Asia-Pacific drive the golf sector, thereby supplementing the global golf equipment market. quote

According to Aniket Kadam Research Analyst
Consumer Goods at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       

According to a new report published by Allied Market Research titled, "Golf Equipment Market by Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global golf equipment market size was valued at $8,156 million in 2016, and is expected to reach $9,666 million by 2023, registering a CAGR of 2.2% from 2017 to 2023. 

Golf is a sport activity popular among business individuals as it is used as a means to offer closure of business deals. Golf equipment consists of various items that are essential to play the sport of golf, and are also crucial in providing an enriched experience to the player. Golf equipment include golf balls, golf shoes, golf clubs, and other aids such as wedges and putters. The key factors that fuel the golf equipment market are increasing consumers’ disposable income, growth in professional and amateur female golfers, and trend of golf tourism, owing to setup of golf courses across the world. However, factors such as busy work schedules leading to lack of any leisure activity and high membership costs resulting in lower registrations impede the global golf equipment market growth. 

The golf clubs segment is expected to dominate the golf equipment industry during the golf equipment market analysis period. Assorted and customizable golf clubs are gaining traction among consumers, which is anticipated to increase the market demand for golf clubs segment. However, the golf balls segment is expected to generate significant demand among consumers, owing to the recurring requirement of these equipment in golf.

The population of middle-income groups has witnessed an upsurge, owing to economic growth as a result of increase in disposable incomes and decline in poverty levels. In 2016, about 3.2 billion population were in the middle-income group, and this number is projected to grow by 160 million people every year for the next five years, reaching around 4 billion by 2021. Developing economies with a large populace, such as, China, India, and Indonesia in Asia-Pacific, as well as in Africa, the Middle East, and Latin America, are expected to witness a surge in middle-income groups. The middle-class population in developed economies, such as U.S., Japan, and European countries, is expected to grow at an annual growth rate of 0.5%, as compared to the developing economies such as China and India, which would grow at 6.0% or more per annum. This population on an average currently spends around $35 trillion in infrastructural activities, and is expected to spend $29 trillion by 2030. As the income of middle-class population increase above basic needs, consumers can have discretionary funds to spend on the goods& services and leisure activities which can improve their lives. Thus, growth in middle-class population will lead to expansion of consumer base of golf equipment market

The golf equipment market is restricted by the economic condition of a region and specific consumer base; as a result, the distribution channels are also limited in number. The specialty stores segment leads the market, in terms of sales of golf equipment, while on-course stores segment is outperforming sales of equipment compared to online stores.

Key Findings of the Golf Equipment Market :

  • In terms of value, the golf clubs segment is expected to grow at a CAGR of 1.4% from 2017 to 2023.
  • North America is expected to dominate the market in the future, registering CAGR of 1.4%, in terms of value, while Asia-Pacific is projected to show consistent growth throughout 2023, growing at a CAGR of 4.4%, in terms of value.
  • The specialty store segment accounted for more than 46.6% golf equipment market share of the total market in 2016.
  • Japan, China, and are collectively accounted for more than half of the total Asia-Pacific market in 2016.
  • China is expected to grow at a CAGR of 9.1%, in terms of value.

In 2016, North America accounted for around half of the total market, and is expected to maintain its position during the forecast period. Developing lifestyle and rise in disposable income of consumers are expected to drive the Asia-Pacific market. 

Major players operating in the market are Acushnet Holdings Corp. (U.S.), Roger Cleveland Golf Company, Inc. (U.S.), Golfsmith International Holdings, Inc. (U.S.), Nike, Inc. (U.S.), Amer Sports Corporation(Finland), Bridgestone Sports Ltd (U.S.), Sumitomo Rubber Industries Ltd.(Japan), Callaway Golf Company (U.S.), TaylorMade Golf Company (U.S.), and PING (U.S.), 

Other golf equipment brands in the value chain include Ben Hogan Golf Equipment Company (U.S.), Dunlop Sport (UK), and MAMIYA-OP CO., LTD. (Japan).

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975



For Media Inquiries, Please Contact

Ram D
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at


First time buyer?
Check offers and discount on this report
To get this report

Click Here

quote Golf Equipment Market by Type (Golf Balls, Golf Clubs Golf Shoes, and Others), Distribution Channel (Sports Goods Chain, Specialty Sports Shops, On-course Shops, Online Stores, and Others): Global Opportunity Analysis and Industry Forecast, 2017-2023 quote

View Report
Avenue Video Loading...

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 3,096 niche industries and company profiles on more than 12,953 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.


Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction


On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers


Featured Readings


Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

Get Industry Data Alerts

Buy Full Version
"Global Golf Equipment Market"
Purchase Enquiry