(MENAFN- America News Hour) Global Golf Equipment Market was valued at USD 8,237 Million in the year 2017. Golf Equipment Market is further estimated to grow at a CAGR of 3.3% from 2019 to reach USD 10,512 Million by the year 2025. North America region holds the highest Market share in 2017 and the Asia Pacific is considered as the fastest growing Market in the forecasted period. At the country level, China is projected to grow strongly in the coming years.
Major market players in Golf Equipment Market are Acushnet Holdings Corp., Roger Cleveland Golf Company Inc., Golfsmith International Inc., Nike Inc., Amer Sports, Bridgestone Sports Co. Ltd., Sumitomo Rubber Industries, Callaway Golf Company, Taylor Made Golf Company Inc., Ping, and brief overview of 10 companies is also provided in the report. Rising research and development expenses to cater changing demand of end users Similarly, growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
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SWOT Analysis of Golf Equipment Market :
Strength:
Increase in golf tourism – setup of golf courses worldwide.
Customer friendly online booking portals.
Weakness:
Expensive golf memberships.
Adoption of indoor games (chess, badminton, table tennis etc.) due to the hectic lifestyle of individuals.
Opportunities:
Rise of E-commerce websites.
Increase in the number of manufacturers making advanced featured products. For example – FootJoy Pro/SL.
Threats:
Intense competition has developed among the producers.
High investment required in the construction of golf courses.
Lack of infrastructure in the underdeveloped economies.
The golf equipment Market report is segmented as a By Product type, Distribution channel and by region. In the product segment, the golf clubs (wooden) segment, contributes to the highest Market share since they are suitable for long shots from the fairway. In distribution channel, specialty stores segment has the highest share in the Market and is expected to grow with the highest CAGR in the forecasted period as it provides the benefit of choosing from a wide array of golf products from different brands.
Golf Equipment Market Segmentation:
By Product Type
*Golf balls
*Clubs
*Shoes
*Others
By Distribution Channel
*Specialty Store
*Sporting goods chain
*On course shop
*Others
*Online
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By Region
*North America
o USA
o Canada
*Europe
o Germany
o U.K.
o France
o Italy
o Rest of Europe
*APAC
o China
o India
o Japan
o Rest of Asia-Pacific
*RoW
o Latin America
o Middle East & Africa
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