Denmark: Golf Equipment Market 2024

Golf Equipment Market Size in Denmark

In 2022, the Danish golf equipment market was finally on the rise to reach $X after three years of decline. In general, consumption, however, recorded a pronounced curtailment. Golf equipment consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Golf Equipment Exports

Exports from Denmark

After two years of growth, overseas shipments of golf clubs and other golf equipment decreased by -11.2% to X units in 2022. In general, exports, however, showed significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 476%. Over the period under review, the exports hit record highs at X units in 2021, and then fell in the following year.

In value terms, golf equipment exports declined dramatically to $X in 2022. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 432% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Sweden (X units) was the main destination for golf equipment exports from Denmark, with a 70% share of total exports. Moreover, golf equipment exports to Sweden exceeded the volume sent to the second major destination, Norway (X units), sixfold. Finland (X units) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden stood at +60.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+38.5% per year) and Finland (+37.4% per year).

In value terms, Sweden ($X) remains the key foreign market for golf clubs and other golf equipment exports from Denmark, comprising 55% of total exports. The second position in the ranking was taken by Finland ($X), with a 13% share of total exports. It was followed by Austria, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden amounted to +76.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+73.6% per year) and Austria (+143.0% per year).

Export Prices by Country

The average golf equipment export price stood at $X per unit in 2022, declining by -25.2% against the previous year. In general, the export price, however, posted a resilient increase. The pace of growth was the most pronounced in 2018 an increase of 128%. The export price peaked at $X per unit in 2021, and then shrank significantly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Norway ($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 Finland (+26.3%), while the prices for the other major destinations experienced more modest paces of growth.

Golf Equipment Imports

Imports into Denmark

In 2022, overseas purchases of golf clubs and other golf equipment were finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, total imports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, golf equipment imports skyrocketed to $X in 2022. Overall, total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.5% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the Netherlands (X units) constituted the largest golf equipment supplier to Denmark, accounting for a 33% share of total imports. Moreover, golf equipment imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. Sweden (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands amounted to +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.8% per year) and Sweden (-1.1% per year).

In value terms, the largest golf equipment suppliers to Denmark were Sweden ($X), the Netherlands ($X) and Germany ($X), with a combined 64% share of total imports. France, China, Taiwan (Chinese), the UK, the United States and Spain lagged somewhat behind, together comprising a further 33%.

France, with a CAGR of +79.0%, recorded the highest growth rate of 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

The average golf equipment import price stood at $X per unit in 2022, growing by 18% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 26%. The import price peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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