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Golf clubs market 2023-2027: A descriptive analysis of five forces model, market


NEW YORK, Jan. 24, 2023 /PRNewswire/ — According to Technavio, the global golf clubs market size is estimated to grow by USD 715.32 million from 2022 to 2027. The market is expected to grow at a CAGR of 2.7%. Moreover, the growth momentum will accelerate. North America will account for 38% of the growth of the global market during the forecast period.

Technavio has announced its latest market research report titled Global Golf Clubs Market 2023-2027

Technavio has announced its latest market research report titled Global Golf Clubs Market 2023-2027

For more insights on market size, request a sample report

Global golf clubs market – Five forces

The global golf clubs market is fragmented, and the five forces analysis covers –

  • Bargaining power of buyers

  • The threat of new entrants

  • Threat of rivalry

  • Bargaining power of suppliers

  • Threat of substitutes

  • For an interpretation of Porter’s five forces model – buy the report!

Global golf clubs market – Customer landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global golf clubs market – Segmentation assessment

Segment overview

Technavio has segmented the market based on application (leisure and professional) and product (woods, irons, putters, and wedges).

  • The leisure segment will grow at a significant rate during the forecast period. The rising popularity of golf is increasing the availability of golf courses in many cities and towns across the world. The expansion of golf courses and efforts by governments to promote golf tourism have also increased the popularity of this sport, which has increased the demand for golf equipment. These factors will drive the growth of the golf clubs segment during the forecast period.

Geography overview

Based on geography, the global golf clubs market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global golf clubs market.

  • North America is estimated to account for 38% of the growth of the global market during the forecast period. The US and Canada are the key countries in the market in the region. North America is home to more than half of the golf courses available globally, and most of them are located in the US. The increasing interest in golf, especially among Millennials and Baby Boomers, is driving the growth of the golf clubs market in the region. This will positively impact the sales of golf clubs in North America.

Download a sample report

Global golf clubs market – Market dynamics

Key factor driving market growth

  • Advances in golf technology are driving market growth.

  • Vendors are developing technologically advanced, customized golf equipment to attract sports enthusiasts and encourage consumers to replace their equipment with upgraded versions.

  • Many manufacturers are developing and modifying product designs using advanced technologies such as computer-aided design (CAD) and computer-aided manufacturing (CAM).

  • They are also developing high-end equipment such as golf robots and launch monitors.

  • Such advances will attract sports enthusiasts and, in turn, drive market growth during the forecast period.

Leading trends influencing the market 

  • The growth of golf tourism is a key trend in the market.

  • Many experienced and amateur golfers travel to popular golf tourism destinations such as the GCC countries.

  • Dubai and Abu Dhabi in the UAE are considered among the top 10 destinations for golf tourism.

  • These cities host many international golf events and competitions, including the Dubai Desert Classic, the Abu Dhabi Golf Championship, and the Qatar Masters.

  • Countries in Central Europe and Eastern Europe are also focusing on promoting the golf tourism market.

  • Such factors will support the growth of the golf clubs market during the forecast period.

Major challenges hindering market growth

  • The rise of alternative sports and leisure activities is challenging the market growth.

  • The demand for leisure activities and outdoor sports has increased due to the fast-paced lifestyles in urban areas.

  • The increase in recreational expenditure will increase the popularity of leisure activities and outdoor sports.

  • Thus, the rise in popularity of adventure activities can pose a risk to the global golf clubs market.

  • Moreover, golf is considered a time-consuming and expensive sport, which can decrease its popularity.

  • These factors will limit the growth of the golf clubs market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample…



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