Europe’s Golf Equipment Market is expected to reach US$ 7.9 billion by 2031 at a CAGR 2.9% during the Forecast Period 2022-21
WILMINGTON DE / ACCESSWIRE December 23, 2022 The Europe golf equipment market From 2022 to 2031, is expected to grow at 2.9% CAGR. While playing golf, you will need equipment like bags, towels (for golf balls), towels, clubs, head covers, and training aids. Golf is an outdoor sport that requires players to move about the greens. Therefore, it is crucial to ensure all equipment is carried with ease and style. This creates new business opportunities in the region and increases demand for golf equipment.
The equipment used in golf is an important part of the game. It can affect the result of the player’s stroke. It is important to have high-quality equipment in order to play a good game. The rise in disposable income has encouraged people to take up golf and other outdoor activities. This has boosted the demand for quality golf equipment. This is expected to further boost Europe’s golf equipment market growth over the next few years.
According to TMR, the Europe market for golf equipment was valued in 2021 at US$ 5.9 Bn and is expected to grow to US$ 7.9 Bn between 2022-2031. Golf is expected to grow in popularity due to the fact that it can be played by everyone, regardless of age. This is expected to be good news for Europe’s golf equipment industry over the forecast period.
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Research Key Findings
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Golf has many health benefits that can propel market growth: Research has shown that regular exercise can improve body immunity and mental health. People are paying attention to golf, a sport that is easy to learn. This sport promotes healthy living and lowers stress levels. This could lead to new growth opportunities in Europe.
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Rise in Active Participation in Outdoor Activities: In the coming years, the Europe golf equipment market will expand due to a rise in disposable income and a surge in recreational pursuits such as picnics, clubhouse trips, and other activities.
Key drivers
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A rise in the desire for a better lifestyle and a higher prevalence of diseases has led to increased interest in outdoor activities, such as golf. This has helped drive market growth for golf equipment.
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A rise in our interest in fitness and health is likely to encourage outdoor activities like golf, increasing the demand for quality equipment in Europe.
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The forecast period will see new growth opportunities in the market for golf equipment due to government support.
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Regional Growth Dynamics
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Germany dominated the market with the largest share due to the large number of professionals who play golf and the rising popularity of golf tourism.
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Technology and innovation in the golf sector will allow regional manufacturers to develop multiple growth strategies that will help them attract substantial revenues in the near future.
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The Europe golf equipment market will see a positive impact in the near future due to an increase in online sales.
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Due to rising interest in golf by the people of the respective countries, the UK and Sweden will be able to generate significant revenues over the next few years.
Key Players
TaylorMade Golf, Ltd, Mizuno Golf, Golf Tech Maschinenvertriebs GmbH, Dixon Golf, Inc., Callaway Golf Company, Roger Cleveland Golf Company, Inc., Masters Golf, Forgan St Andrews, Designer Golf Ltd., Acushnet Holding Corp., are all significant players in the Europe golf equipment industry.
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Segmentation of Golf Equipment Market
Type
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Golf Clubs
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Woods
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Irons
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Putters
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Wedges
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Others
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Golf balls
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Others
Prices
End-user
Distribution Channel
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Online
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Websites owned by companies
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E-commerce websites
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Offline
Regions
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North America
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Europe
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Asia Pacific
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Middle East & Africa
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Latin America
Countries
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U.S.
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Canada
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Germany
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U.K.
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France
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Spain
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Italy
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Russia & CIS
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China
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India
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Japan
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ASEAN
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Brazil
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Mexico
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GCC
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South Africa
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