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The global golf shaft market size is projected to reach $500.6 million by 2034, growing at a CAGR of 3.4% from 2024 to 2034.
The golf shaft market in the Asia-Pacific region is expected to rise owing to the increasing popularity of golf in countries such as Japan, South Korea, and China.” - Allied Market ResearchWILMINGTON, DE, UNITED STATES, January 9, 2025 /EINPresswire / -- Allied Market Research published a report, titled, "Golf Shaft Market by Material (Wood, Iron, Carbon Fiber, Graphite and Others), Application (Men, Women and Kids), and Distribution
channel (Sports Specialty Stores, Hypermarkets/Supermarkets, Online Sales Channel and Others): Global Opportunity Analysis and Industry Forecast, 2024-2034". According to the report, the golf shaft market was valued at $349.1 million in 2023, and is estimated to reach $500.6 million by 2034, growing at a CAGR of 3.4% from 2024 to 2034.
Prime determinants of growth
Rise in interest in golf as both a professional sport and recreational activity contributed to increased demand, supported by the expansion of golf courses and clubs worldwide. Technological advancements in shaft materials, including lightweight graphite and composite materials, have improved performance by developing swing speed and accuracy, which has helped attract golfers at all skill levels.
The expansion of golf tourism, particularly in regions with favorable climates, encouraged more play and equipment purchases. High-profile tournaments, celebrity endorsements, and media coverage have increased the likeliness of golf, thus encouraged participation and a rise in demand for golf shaft simultaneously. Moreover, the growing focus on custom-fitted equipment tailored to individual playing styles boosted sales of specialized golf shafts. The rise in online retail channels further facilitated access to a wider range of golf shaft products, contributing to golf shaft market expansion globally.
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The graphite segment held the highest market share in 2023
Based on material, the graphite segment held the highest market share in 2023 owing to its lightweight properties which helps improve swing speed and overall performance. Golfers preferred graphite shafts for their ability to provide greater distance and control compared to heavier steel shafts. The vibration-dampening qualities of graphite reduces the risk of injury and improved comfort during play. These features have inclined both professional and recreational golfers toward graphite golf shaft, thus boosting the dominance of this segment in the golf shaft market.
The men segment held the highest market share in 2023
Based on application, the men segment held the highest market share in 2023. The increase in demand for golf shaft in men segment is driven by increased participation in golf, fueled by rising interest in recreational and professional play. Technological advancements in shaft materials, such as lightweight graphite and multi-material options has further attracted male golfers aiming for better performance. High-profile golf tournaments and celebrity endorsements have boosted the visibility of golf sport, further boosting likeliness among male players. Moreover, the expansion of golf courses and clubs worldwide, especially in emerging markets, supported the growth of the golf shaft market in this segment.
The sports specialty stores segment held the highest market share in 2023
Based on the distribution channel, the sports specialty stores segment held the highest market share in 2023 owing to their ability to offer expert guidance and personalized services, which were essential for golfers seeking the right shaft for their playing style. These stores provided a hands-on experience where customers could test various shafts and receive professional fittings, ensuring optimal performance. The wide variety of golf shafts, including the latest technologies and premium brands, further inclines professional golfers to these outlets. Furthermore, specialty stores maintained strong relationships with suppliers, ensuring stock availability and exclusive product offerings that boost sales of golf shafts.
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North America led the market share in 2023
Based on region, North America held the highest market share in terms of revenue in 2023. North America experienced high demand for golf shafts owing to a well-established golfing culture, widespread course availability, and a large population of golf players in the region. Leading brands, such as True Temper, Aldila, and Fujikura, known for high-performance and innovative shafts, significantly contributed to golf shaft market growth. Cities with significant demand including Orlando, Florida, and Scottsdale, Arizona, recognized as major golfing centers with numerous courses and events has boosted the sales of golf shafts. In addition, the popularity of professional tournaments such as the PGA Tour and a developed network of golf facilities boosted the interest in premium golf equipment, and driving increased demand for quality golf shafts in North America.
Players: -
True Temper Sports
Mitsubishi Chemical Holdings Corporation
UST Mamiya
Fujikura
Project X
Graphite Design
Accra Golf
Aldila
KBS Golf Shafts
Cleveland Golf
The report provides a detailed analysis of these key players in the global golf shaft 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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Recent Industry Developments
In March 2023, Snarr3D launched the first 3D-printed golf club shaft.
In August 2021, Mitsubishi Chemical announced the launch of its new MMT Iron shafts, designed to deliver a more responsive feel and increased performance for golfers.
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David Correa
Allied Market Research
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