Hong Kong SAR, China - Golf Clubs And Other Golf Equipment - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHong Kong's Import of Golf Equipment Plummets to $586 Million in 2023
Hong Kong Golf Equipment Imports
In 2023, approx. 313M units of golf clubs and other golf equipment were imported into Hong Kong; falling by -34.9% against the previous year. Over the period under review, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 62% against the previous year. Imports peaked at 676M units in 2013; however, from 2014 to 2023, imports failed to regain momentum.
In value terms, golf equipment imports declined dramatically to $586M (IndexBox estimates) in 2023. Overall, imports saw a perceptible decline. The pace of growth was the most pronounced in 2021 with an increase of 73% against the previous year. Imports peaked at $894M in 2013; however, from 2014 to 2023, imports remained at a lower figure.
| COUNTRY | Import Value of Golf Equipment in Hong Kong (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| China | 747 | 650 | 551 | 468 | 533 | 559 | 537 | 421 | 737 | 774 | 517 |
| Taiwan (Chinese) | 38.8 | 26.2 | 19.9 | 20.2 | 25.0 | 29.3 | 23.3 | 22.9 | 44.8 | 48.1 | 23.0 |
| Japan | 56.1 | 38.1 | 27.2 | 17.3 | 20.9 | 25.9 | 33.4 | 16.2 | 25.5 | 23.3 | 17.5 |
| Vietnam | 6.2 | 4.9 | 4.3 | 5.5 | 6.3 | 7.4 | 11.0 | 13.6 | 17.5 | 24.0 | 15.4 |
| United States | 26.8 | 18.7 | 14.3 | 10.8 | 12.6 | 10.4 | 8.9 | 8.9 | 12.8 | 14.4 | 8.9 |
| Others | 18.6 | 15.2 | 12.3 | 5.7 | 6.3 | 5.3 | 6.6 | 5.1 | 7.4 | 7.0 | 4.3 |
| Total | 894 | 753 | 629 | 528 | 604 | 637 | 620 | 488 | 845 | 890 | 586 |
Imports by Country
In 2023, China (258M units) constituted the largest golf equipment supplier to Hong Kong, accounting for a 82% share of total imports. Moreover, golf equipment imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (23M units), more than tenfold. Taiwan (Chinese) (17M units) ranked third in terms of total imports with a 5.5% share.
From 2013 to 2023, the average annual growth rate of volume from China amounted to -7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+17.6% per year) and Taiwan (Chinese) (-10.9% per year).
In value terms, China ($517M) constituted the largest supplier of golf clubs and other golf equipment to Hong Kong, comprising 88% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($23M), with a 3.9% share of total imports. It was followed by Japan, with a 3% share.
From 2013 to 2023, the average annual rate of growth in terms of value from China stood at -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-5.1% per year) and Japan (-11.0% per year).
Imports by Type
In 2023, golf equipment; other than clubs and balls (310M units) was the main type of golf clubs and other golf equipment supplied to Hong Kong, accounting for a 99% share of total imports. It was followed by golf balls (1.3M units), with a 0.4% share of total imports.
From 2013 to 2023, the average annual growth rate of the volume of golf equipment; other than clubs and balls imports stood at -7.1%. With regard to the other supplied products, the following average annual rates of growth were recorded: golf balls (-24.6% per year) and golf clubs; complete (-18.2% per year).
In value terms, golf equipment; other than clubs and balls ($492M) constituted the largest type of golf clubs and other golf equipment supplied to Hong Kong, comprising 84% of total imports. The second position in the ranking was taken by golf clubs; complete ($92M), with a 16% share of total imports.
Import Prices by Country
In 2023, the golf equipment price amounted to $1.9 per unit (CIF, Hong Kong), almost unchanged from the previous year. In general, import price indicated a moderate increase from 2013 to 2023: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, golf equipment import price increased by +63.0% against 2016 indices. The most prominent rate of growth was recorded in 2022 when the average import price increased by 23% against the previous year. The import price peaked in 2023 and is likely to see steady growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($2.7 per unit), while the price for Vietnam ($680 per thousand units) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the golf equipment market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 32301530 - Golf clubs and other golf equipment (including golf balls)
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
