Rise in number of professional and amateur female golfers, rise in trend of golf tourism, and growth of the middle-class population drive the global golf equipment market. North America contributed the highest share in 2020, and is expected to continue its dominant share in terms of revenue by 2030. Due to the outbreak of the Covid-19 pandemic, the demand for golf equipment has decreased, and travel restrictions have severely harmed the market’s distribution channel system globally.
According to the report published by Allied Market Research, the global golf equipment market generated $7.04 billion in 2020, and is estimated to generate $10.15 billion by 2030, witnessing a CAGR of 3.9% from 2021 to 2030. The report offers a detailed analysis of changing market trends, value chain, top segments, key investment pockets, regional scenarios, and competitive landscape.
Rise in number of professional and amateur female golfers, rise in trend of golf tourism, and growth of the middle-class population drive the growth of the global golf equipment market. However, busy work schedules, expensive golf courses and memberships, and adoption of alternative leisure activities impede the market growth. On the contrary, rise in popularity of online shopping offers new opportunities in the upcoming years.
