Portland, OR, Nov. 07, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global golf club and sets market garnered $3.4 billion in 2021, and is estimated to generate $4.9 billion by 2031, manifesting a CAGR of 3.9% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $3.4 billion |
| Market Size in 2031 | $4.9 billion |
| CAGR | 3.9% |
| No. of Pages in Report | 238 |
| Segments covered | Type, Application, Distribution Channel, and Region. |
| Drivers | The emerging trend of golf tourism due to the presence of numerous golf courses across the world |
| The increase in the middle-class population | |
| The growth in the number of professional and amateur female golfers | |
| Opportunities | The rise in popularity of alternate sports & leisure activities among end users |
| Restraints | Lack of infrastructure in most of the underdeveloped and developing economies The growth of e-sports |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global golf club and sets market, owing to implementation of global lockdown which resulted to temporary closure of all golf club, especially in the initial period.
- Travel restrictions had severely damaged the golf club and sets market’s distribution channel system globally.
- The lockdown has harmed workforce and resource availability, affecting the golf clubs & sets the industry’s scale of production.
- As people were mostly inside their homes during the pandemic, the popularity of e-sports skyrocketed. This factor hampered the growth of the global golf club and sets market.
- In the post-pandemic period, new product launches, celebrity endorsements, partnerships, and social media marketing are few strategies implemented by the top companies in the golf club and sets industry. As a result, the market is expected to get back on track soon.
The research provides detailed segmentation of the global golf club and sets market based on type, application, distribution channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on type, the irons segment held the highest share in 2021, accounting for nearly two-fifths of the global golf club and sets market, and is expected to continue its leadership status during the forecast period. However, the hybrids segment is expected to register the highest CAGR of 4.6% from 2022 to 2031.
Based on application, the leisure segment accounted for the highest share in 2021, contributing to nearly 90% of the global golf club and sets market, and is expected to maintain its lead in terms of revenue during the forecast period.
Based on distribution channel, the specialty stores segment accounted for the highest share in 2021, holding nearly half of the global golf club and sets market, and is expected to continue its leadership status during the forecast period. However, the online stores segment is estimated to grow at the highest CAGR of 7.3% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to around half of the global golf club and sets market share, and is projected to maintain its dominant share in terms of revenue in 2031. On the other hand, the Asia-Pacific region is expected to manifest the fastest CAGR of 5.9% during the forecast period. The research also analyzes regions including Europe and LAMEA.
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Leading market players of the global golf club and sets market analyzed in the research include Acushnet Holdings Corp., Adidas AG, Amer Sports, Bridgestone Corporation, Callaway Golf Company, DICK'S Sporting Goods, Inc., Dixon Golf, Inc., Nike, Inc., Sumitomo Rubber Industries, Ltd, Robin golf, Ping, Inc, Bettinardi Golf, Cobra Golf, Pen fold Golf Limited, McGregor Golf, Hippo Golf, Infiniti Golf.
The report provides a detailed analysis of these key players of the global golf club and sets market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
