Irving, TX (PRWEB) August 03, 2012
The global golf equipment manufacturing industry witnessed a good growth during the past five years but is expected to witness modest growth with a CAGR of 2.4% to reach US $7.21 by 2017. The competitive rivalry is high in the industry as the leading players try to grab the market and accelerate their profit by entering into new regions and increasing their brand credibility by signing top players for endorsements.
Lucintel, a leading global management consulting and market research firm has conducted a competitive analysis of the global golf equipment manufacturing industry and presents its findings in "Global Golf Equipment Manufacturing Industry 2012-2017: Trend, Profit and Forecast Analysis."This study addresses the revenue generation of manufacturers as well as retailers.
As per the study, the market share of the industry depends on the abilities of the companies to create best in class products in multiple price range. Counterfeited products pose a major threat for this industry. These products are cheaper, which forces the manufacturers to decrease their price range to compete with counterfeiter's price. Another challenge is that Chinese suppliers replicate company models who out source products from China's low cost factory with almost exactly the same price as the genuine ones, since they are the products of the same factory, manufactured in the afterhours.
Despite challenges, the industry has witnessed considerable growth as number of women participants are increasing in golf, who are equally fashion conscious driving the demand for golf clubs, golf balls, stylish and functional golf apparel, and golf footwear and accessories.
Most of the industry players constantly kept an eye on the global market and try to source destinations to gain operational efficiencies. Use of aggressive marketing strategies and endorsement by companies influence consumer preferences to existing product offerings and their brands. The industry is also focusing to extend its presence in the BRIC countries, especially India and China as they have good growth opportunities with growing upper class and their purchasing power.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency.