The Golf Club is a stick utilized to smash the golf ball in the game of golf. The club comprises a shaft with a grip and a club head. The foremost material used for manufacture of the club is wood and such wooden clubs are majorly utilized for long distance fairway while clubs made from other materials likewise Iron, Putters and hybrid are utilized according to the variety of shots.
According to the report analysis, ‘Global Golf Clubs Market to reach USD XXX billion by 2027’ states that the market growth is principally propelled by growing consumers disposable income, growth in the professional and amateur golfers. As per Statista, during 2017, the amount of golf participants across the U.S. stood at nearly 23.83 million. Around 8.8 million of such participants are said to be avid golfers. While as per Club managers Association of Europe there were 4.15 million recorded golfers across Europe. Further, the effective augment in the number of golf courses around the world propel the market growth. For Instance: Europe had nearly 7000 standard golf courses by 2017. However, implementation of other games and great golf membership costs hampers the growth of the market over the review period of 2020-2027.
Although, the regional analysis of worldwide Golf Clubs market is considered for the foremost regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The Europe is the leading/significant region around the world in terms of market share due to the increasing number of golfers populace and growing number of golf courses across the region. Whereas, the Asia-Pacific is also projected to exhibit greatest growth rate / CAGR over the review period 2020-2027. Aspects such as increasng disposable income and trend of Golf would generate the lucrative growth prospects for the Golf Clubs market around the Asia-Pacific region.
Not only has this, the market is majorly propelled by the increasing popularity and implementation of golf as an active sport. Moreover, the premium resorts and hotels are integrating sporting activities in their hospitality amenities, golf being one of them. Creation of miniature golf courses to augment the inflow of patrons and endorsing it as a vigorous leisure activity is underwriting to the growing sales of golf clubs.
The growth of golf clubs market is attributed to the increasing popularity of this sport owing to the accessibility of golf courses in most countries and towns across the world. The Golf tourism is obtaining much traction amongst the enthusiasts and a number of individual travel to detailed destinations for the sole determination of playing golf. Scotland, for instance, is an exceptional vacation spot that also suggests the golfers centuries-old courses and a intellect of history playing on these ancient grounds. Improvement and expansion of golf courses, along with growing government initiatives to encourage the golf tourism, have promoted this sport, thereby ramping up the requirement for its linked equipment, likewise golf equipment. Therefore, in the neat years, it is anticipated that the market of golf clubs will increase around the globe more significantly over the forthcoming years.
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Ankur Gupta, Head Marketing & Communications