Golf Equipment Market Size

Golf Equipment Market size is expected to reach USD 14.53 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of golf equipment was over USD 7.8 Billion. The growth of market is impelled by growing sophistication and professionalism, golf is becoming a more and more popular game on a global scale. The perception of golf as a leisure activity that offers both physical exercise and mental relaxation is growing as people become more health-conscious. Many different types of people have taken an interest in it due to its reputation as a low-impact sport appropriate for people of all ages and fitness levels. In all, 26.6 million golfers played on actual golf courses, while an additional 18.4 million played only off-course at facilities like driving ranges, indoor golf simulators, or golf entertainment centers like Topgolf.

In addition, certain governments and organizations have acknowledged the financial and societal advantages of golf and implemented measures to encourage the game, including tax breaks for golf course builders and financial support for golf education. The United States Golf Association installed a GPS tracker on players in order to monitor their movements on the field, according to data from 2022. The sport of golf is predicted to expand in popularity over the medium term, which will accelerate market expansion.