Golf Equipment: A Global Market Report
San Jose, California (PRWEB) April 13, 2009
Global golf industry, which historically posted sturdy growth thanks to the push among manufacturers, and associations to make golf more accessible with the roll out of several public golf facilities, is coming to a screeching halt. A key reason factoring in the present slowdown is the spreading global financial crises and slumping world economy. Other reasons responsible for the withering of the golf industry include short-term, and long-term challenges manifested in the form of unfavorable weather conditions, rising competition, overproduction of golf equipment, escalating inventories, deep price discounting, and static number of golfers as a result of slowdown in participation numbers. The present economic slowdown is further exacerbating the prevailing situation with shrinking discretionary spends softening tourism golf and corporate money spent on promotional golfing. Revenues derived from golf courses are faltering with decrease in number of rounds and equipment sales. Globally, many course developers have either postponed or shelved major golf resort construction projects. The turbulent competitive environment is expected to trigger consolidation in the upcoming years as companies contest for shelf space, sales and outright survival.
Against the backdrop of fierce competition and reduced golf participation due to dropouts, a new demographic cluster is emerging over the horizon offering promises of providing ample room for growth. Women have emerged as a vital segment of the golfing population contributing to the market's overall growth. While women tend to play fewer rounds of golf than average male golfers, they however spend almost the same amount on golf equipment, and if encouraged to play have the potential to spend more on per round basis. The willingness to learn and play coupled with spending power can offer exciting growth opportunity for the industry, and its therefore of little surprise that market participants are focusing on women golfers as part of their multiple short-term strategies.
Increased accessibility, affordability, wider participation from individuals in the middle-income group, aging population and rising number of retirees will result in greater sales of golf balls, clubs, shoes and gloves in the medium to long-term. Popularity of professional golfers and charismatic amateurs will also be partially responsible for the incremental growth in the golf market. Growth in Golf Clubs will be supported by the launch of demonstrably superior golf equipment manufactured from innovative materials and designed to improve the performance of even the less able player. Significant technological advances in shaft and clubhead construction, new geometric designs, advancements in material technology, and product customization will adroitly leverage golfers intrinsic willingness to part with that extra buck to improve their gaming capabilities.
Key players dominating the global golf equipment market include Adams Golf Inc, Aldila Inc, Amer Sports Corporation, Ashworth Inc, Bridgestone Golf Inc, Callaway Golf Company, Carbite Golf Inc, Dixon Golf, Etonic Worldwide, Fortune Brands Inc, Graphite Design International Inc, Hippo Golf Company, Karsten Manufacturing Corporation, MacGregor Golf Company, Mizuno USA Inc, Nike Golf, NIKE Inc, Roger Cleveland Golf Company Inc, Slazenger, SRI Sports Limited, TaylorMade-adidas Golf and True Temper Sports Inc., among others.
The report titled "Golf Equipment: A Global Market Report" published by Global Industry Analysts, Inc., provides a comprehensive review of the industry's structure, product markets, regional dynamics, regulatory environment, trends, issues, drivers, and recent industry activity. The report analyzes market data and provides analytics in value sales for regions including North America, Japan, Europe and Rest of World. The study also analyzes the Golf Equipment market by the following product segments - Golf Clubs, Golf Balls and Golf Gloves and Bags.
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