Belgium: Golf Equipment Market 2024

Golf Equipment Market Size in Belgium

The Belgian golf equipment market plummeted to $X in 2022, with a decrease of -51.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a abrupt decline. Golf equipment consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Golf Equipment Exports

Exports from Belgium

In 2022, overseas shipments of golf clubs and other golf equipment decreased by -72% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2020 with an increase of 963% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, golf equipment exports contracted dramatically to $X in 2022. Overall, exports saw a precipitous decrease. The pace of growth appeared the most rapid in 2020 with an increase of 1,141% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X units) was the main destination for golf equipment exports from Belgium, with a 38% share of total exports. Moreover, golf equipment exports to France exceeded the volume sent to the second major destination, Switzerland (X units), threefold. The third position in this ranking was taken by Cote d'Ivoire (X units), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to France totaled -6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+22.0% per year) and Cote d'Ivoire (+112.5% per year).

In value terms, France ($X), Switzerland ($X) and the UK ($X) were the largest markets for golf equipment exported from Belgium worldwide, together accounting for 58% of total exports. The United States, Italy, Cote d'Ivoire, Germany and the Netherlands lagged somewhat behind, together accounting for a further 27%.

Cote d'Ivoire, with a CAGR of +60.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average golf equipment export price stood at $X per unit in 2022, dropping by -45.7% against the previous year. Over the period under review, the export price saw a abrupt slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 23%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Cote d'Ivoire ($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 the Netherlands (+0.7%), while the prices for the other major destinations experienced mixed trend patterns.

Golf Equipment Imports

Imports into Belgium

After two years of growth, overseas purchases of golf clubs and other golf equipment decreased by -47% to X units in 2022. In general, imports showed a deep downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 61% against the previous year. Over the period under review, imports reached the peak figure at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, golf equipment imports reduced sharply to $X in 2022. Overall, imports recorded a deep setback. The growth pace was the most rapid in 2020 when imports increased by 72%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest golf equipment supplier to Belgium, accounting for a 51% share of total imports. Moreover, golf equipment imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), fourfold. The third position in this ranking was taken by the United States (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-10.1% per year) and the United States (+4.2% per year).

In value terms, China ($X) constituted the largest supplier of golf clubs and other golf equipment to Belgium, comprising 40% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by Taiwan (Chinese), with a 12% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to -8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.1% per year) and Taiwan (Chinese) (-3.0% per year).

Import Prices by Country

In 2022, the average golf equipment import price amounted to $X per unit, rising by 30% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+30.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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