CIS: Golf Equipment Market 2024

Golf Equipment Market Size in CIS

The CIS golf equipment market declined slightly to $X in 2022, waning by -2.6% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Golf Equipment Production in CIS

In value terms, golf equipment production shrank slightly to $X in 2022 estimated in export price. The total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.3% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 32% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Golf Equipment Exports

Exports in CIS

In 2022, exports of golf clubs and other golf equipment in the CIS surged to X units, growing by 15% on 2021 figures. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 253% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, golf equipment exports dropped to $X in 2022. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 692%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Russia prevails in exports structure, finishing at X units, which was approx. 83% of total exports in 2022. It was distantly followed by Kyrgyzstan (X units), generating a 7.5% share of total exports. Uzbekistan (X units), Belarus (X units) and Azerbaijan (X units) followed a long way behind the leaders.

Exports from Russia increased at an average annual rate of +72.3% from 2012 to 2022. At the same time, Uzbekistan (+99.0%), Azerbaijan (+45.8%), Kyrgyzstan (+30.2%) and Belarus (+18.1%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +99.0% from 2012-2022. From 2012 to 2022, the share of Russia and Uzbekistan increased by +74 and +3.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest golf equipment supplier in the CIS, comprising 92% of total exports. The second position in the ranking was taken by Kyrgyzstan ($X), with a 4.1% share of total exports. It was followed by Belarus, with a 2.1% share.

In Russia, golf equipment exports increased at an average annual rate of +86.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kyrgyzstan (+49.0% per year) and Belarus (+15.4% per year).

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per unit, with a decrease of -23.5% against the previous year. In general, the export price, however, showed a notable expansion. The most prominent rate of growth was recorded in 2018 an increase of 136%. The level of export peaked at $X per unit in 2021, and then fell sharply in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while Uzbekistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+14.4%), while the other leaders experienced mixed trends in the export price figures.

Golf Equipment Imports

Imports in CIS

After two years of growth, purchases abroad of golf clubs and other golf equipment decreased by -25% to X units in 2022. Over the period under review, imports, however, recorded a pronounced expansion. The pace of growth was the most pronounced in 2018 with an increase of 41% against the previous year. Over the period under review, imports reached the peak figure at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, golf equipment imports surged to $X in 2022. Overall, imports, however, posted a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Kazakhstan was the major importer of golf clubs and other golf equipment in the CIS, with the volume of imports recording X units, which was near 46% of total imports in 2022. Azerbaijan (X units) held a 22% share (based on physical terms) of total imports, which put it in second place, followed by Russia (20%), Kyrgyzstan (6.3%) and Belarus (5.2%).

From 2012 to 2022, average annual rates of growth with regard to golf equipment imports into Kazakhstan stood at +17.5%. At the same time, Azerbaijan (+35.6%), Kyrgyzstan (+31.2%) and Belarus (+11.9%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +35.6% from 2012-2022. By contrast, Russia (-11.1%) illustrated a downward trend over the same period. Kazakhstan (+34 p.p.), Azerbaijan (+21 p.p.), Kyrgyzstan (+5.8 p.p.) and Belarus (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while Russia saw its share reduced by -59.2% from 2012 to 2022, respectively.

In value terms, Kazakhstan ($X) constitutes the largest market for imported golf clubs and other golf equipment in the CIS, comprising 74% of total imports. The second position in the ranking was held by Russia ($X), with a 20% share of total imports. It was followed by Azerbaijan, with a 3.3% share.

In Kazakhstan, golf equipment imports increased at an average annual rate of +29.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Russia (+0.2% per year) and Azerbaijan (+27.1% per year).

Import Prices by Country

The import price in the CIS stood at $X per unit in 2022, with an increase of 115% against the previous year. Overall, the import price saw buoyant growth. As a result, import 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 importers, the country with the highest price was Kazakhstan ($X per unit), while Kyrgyzstan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+12.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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