PUBLISHER: The Business Research Company | PRODUCT CODE: 1669672
PUBLISHER: The Business Research Company | PRODUCT CODE: 1669672
A golf club is a piece of sporting equipment employed in golf, designed to address diverse distances and angles, enabling golfers to navigate different situations on the course. Golfers use these clubs to strike the golf ball and propel it toward the target, typically a hole on the golf course.
The primary categories of golf clubs include woods, hybrids, irons, wedges, and putters. A wood golf club is a specific type of golf club characterized by longer shafts and rounder heads, intended for hitting the ball over greater distances compared to other club types. These clubs are available in both left-hand and right-hand orientations, and they come with varying price ranges, such as premium or high-end, economy or mid-range. Distribution channels include supermarkets, hypermarkets, specialty stores, online retail, and others, catering to both leisure and professional applications.
The golf club research report is one of a series of new reports from The Business Research Company that provides golf club market statistics, including the golf club industry's global market size, regional shares, competitors with golf club market share, detailed golf club market segments, market trends and opportunities, and any further data you may need to thrive in the golf club industry. This golf club market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The golf club market size has grown steadily in recent years. It will grow from $7.76 billion in 2024 to $8.02 billion in 2025 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to increased number of golf courses and facilities in emerging markets, rising popularity of golf as a fitness activity, growing interest in golf as a networking tool, increased number of golf tournaments and events, rising interest in golf as a leisure activity
The golf club market size is expected to see steady growth in the next few years. It will grow to $9.61 billion in 2029 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to increasing demand for customized golf clubs, expansion of golf courses and facilities, rising disposable income. Major trends in the forecast period include partnerships and collaborations, innovative solutions, technological advancements in golf club design, market expansion in key regions.
The anticipated growth in the golf club market is expected to be propelled by increasing government initiatives aimed at promoting golf tourism. Golf tourism involves activities where playing golf is a primary focus during a vacation or business trip. Golf clubs play a crucial role in facilitating golf tourism by serving as essential equipment and the fundamental infrastructure for golfing experiences. Government initiatives contribute to the growth of the golf industry by fostering a positive environment and collaborating with national and international golf organizations. For instance, in August 2022, the federal government of Canada invested $4.4 million in the RBC Canadian Open and CP Women's Open, professional golf tournaments based in Canada, to generate significant economic benefits and attract tourists to the region. Therefore, the rising government initiatives to promote golf tourism are steering the growth of the golf club market.
The growth of the golf club market is expected to be fueled by an increase in the number of golfers in the coming years. Golfers, individuals who engage in the sport of golf, encompass a diverse range of ages, genders, and backgrounds, contributing to the sport's widespread appeal. The surge in the number of golfers reflects the continuous popularity and expansion of the sport, resulting in a heightened demand for golf clubs. For example, according to Golf Australia, the governing body for golf sports in Australia, 3.5 million Australians participated in golf during the 2022-23 period, constituting 17.6 percent of the adult population, up from 2.7 million in 2021-22. Thus, the increasing number of golfers is propelling the golf club market.
Product innovation stands out as a prominent trend gaining traction in the golf club market. Leading companies in the golf club market are actively engaged in developing inventive products to maintain their competitive positions. An illustrative example is Titleist, a US-based golf equipment manufacturer, which, in January 2023, launched the TSR 2 and TSR 3 hybrids featuring advanced face designs. The TSR2 hybrid, characterized by a slightly increased blade length and a conventional design, delivers forgiving speed and performance. On the other hand, the TSR3 hybrid is designed to offer heightened precision and workability, featuring an iron-such as hybrid profile inspired by well-received predecessors.
Major players in the golf club market are embracing a strategic partnership approach to formulate comprehensive strategic plans. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits and success. A notable instance is Hazeltine National Golf Club, a US-based golf club, which, in August 2023, announced a partnership with Love Golf Design, a US-based architectural firm. This collaboration encompasses a year-long process involving research, interaction, and interviews with top architects across the country. Love Golf Design has been entrusted with inspecting and designing various aspects of Hazeltine, including greens, bunkers, paths, playing distances, water supply, drainage, vegetation, and routing plans. The master plan will also outline infrastructure enhancements needed to maintain championship-level playing conditions consistently.
In July 2022, Troon, a U.S.-based golf course and club management company, acquired ClubUp for an undisclosed sum. This acquisition enables Troon to make substantial investments in ClubUp's technology, enhancing the platform and adding new features requested by partner clubs. The existing ClubUp team will continue to lead the company, and they, along with other key stakeholders, have opted to invest in Troon as part of the deal. ClubUp is a golf club company based in the U.S.
Major companies operating in the golf club market include Bridgestone Golf Inc., Sumitomo Rubber Industries Ltd., Callaway Golf Inc., Topgolf Callaway Brands Corp., Amer Sports Oy, Acushnet Holdings Corp., Mizuno Corporation, TaylorMade Golf Company Inc., Wilson Sporting Goods Co., Ping Inc., Cobra Golf Inc., Cleveland Golf Company Inc., Honma Golf Ltd., Krank Golf, Srixon Ltd., Miura Golf LP, U.S. Kids Golf LLC, Ben Hogan Golf Equipment Company, Tour Edge Golf Inc., Lynx Golf Limited, Parsons Xtreme Golf LLC, Evnroll, Bettinardi Golf, Sub 70 Golf Ltd., Vega Golf, Piretti Golf Inc., Fourteen Golf
North America was the largest region in the golf club market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the golf club market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the golf club market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The golf club market consists of sales of shafts, grips, and clubheads. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Golf Club Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on golf club market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for golf club ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The golf club market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.