Australia: Golf Equipment Market 2024

Golf Equipment Market Size in Australia

For the third consecutive year, the Australian golf equipment market recorded growth in sales value, which increased by 35% to $X in 2022. In general, consumption showed a prominent increase. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in the near future.

Golf Equipment Exports

Exports from Australia

After three years of growth, shipments abroad of golf clubs and other golf equipment decreased by -32.5% to X units in 2022. Over the period under review, exports continue to indicate a pronounced slump. The growth pace was the most rapid in 2020 when exports increased by 26%. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, golf equipment exports surged to $X in 2022. In general, exports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2021 when exports increased by 41%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

New Zealand (X units) was the main destination for golf equipment exports from Australia, with a 75% share of total exports. Moreover, golf equipment exports to New Zealand exceeded the volume sent to the second major destination, South Africa (X units), sixfold. The third position in this ranking was held by the United States (X units), with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand totaled -6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+52.7% per year) and the United States (-1.3% per year).

In value terms, New Zealand ($X) remains the key foreign market for golf clubs and other golf equipment exports from Australia, comprising 87% of total exports. The second position in the ranking was taken by the United States ($X), with a 4.1% share of total exports. It was followed by South Africa, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value to New Zealand amounted to +7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+4.0% per year) and South Africa (+44.5% per year).

Export Prices by Country

In 2022, the average golf equipment export price amounted to $X per unit, growing by 100% against the previous year. In general, the export price continues to indicate a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was New Zealand ($X per unit), while the average price for exports to South Africa ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+14.8%), while the prices for the other major destinations experienced more modest paces of growth.

Golf Equipment Imports

Imports into Australia

In 2022, supplies from abroad of golf clubs and other golf equipment increased by 23% to X units, rising for the third consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 27% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, golf equipment imports soared to $X in 2022. Over the period under review, imports continue to indicate a resilient increase. The growth pace was the most rapid in 2021 with an increase of 43% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United States (X units), China (X units) and Thailand (X units) were the main suppliers of golf equipment imports to Australia, together comprising 67% of total imports. Taiwan (Chinese), Japan, Vietnam, South Korea and Indonesia lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +19.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest golf equipment suppliers to Australia were China ($X), the United States ($X) and Taiwan (Chinese) ($X), together comprising 73% of total imports. Vietnam, Thailand, Japan, South Korea and Indonesia lagged somewhat behind, together comprising a further 26%.

South Korea, with a CAGR of +29.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average golf equipment import price amounted to $X per unit, surging by 4.2% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, golf equipment import price increased by +82.0% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 28% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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