Eastern Europe: Golf Equipment Market 2024

Golf Equipment Market Size in Eastern Europe

The East European golf equipment market fell remarkably to $X in 2022, reducing by -36.5% against the previous year. Over the period under review, consumption saw a noticeable shrinkage. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Golf Equipment Production in Eastern Europe

In value terms, golf equipment production totaled $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 30% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Golf Equipment Exports

Exports in Eastern Europe

After three years of growth, overseas shipments of golf clubs and other golf equipment decreased by -20.1% to X units in 2022. Over the period under review, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 128% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then plummeted in the following year.

In value terms, golf equipment exports shrank notably to $X in 2022. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 151% against the previous year. The level of export peaked at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Poland was the key exporter of golf clubs and other golf equipment in Eastern Europe, with the volume of exports amounting to X units, which was near 52% of total exports in 2022. The Czech Republic (X units) held a 26% share (based on physical terms) of total exports, which put it in second place, followed by Russia (7%). Latvia (X units), Lithuania (X units), Hungary (X units) and Slovakia (X units) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Russia (with a CAGR of +72.3%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the Czech Republic ($X) and Russia ($X) constituted the countries with the highest levels of exports in 2022, with a combined 92% share of total exports.

Russia, with a CAGR of +86.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per unit, leveling off at the previous year. Export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, golf equipment export price decreased by -1.5% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by 41%. Over the period under review, the export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 Slovakia ($X per unit), while Latvia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+9.3%), while the other leaders experienced more modest paces of growth.

Golf Equipment Imports

Imports in Eastern Europe

In 2022, approx. X units of golf clubs and other golf equipment were imported in Eastern Europe; growing by 12% on the previous year's figure. Total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.5% 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 +52.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 67% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, golf equipment imports stood at $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +67.7% against 2017 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 33%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

The Czech Republic was the largest importing country with an import of about X units, which recorded 45% of total imports. It was distantly followed by Poland (X units), Romania (X units), Slovakia (X units) and Hungary (X units), together comprising a 44% share of total imports. Bulgaria (X units) and Russia (X units) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +19.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X) constitutes the largest market for imported golf clubs and other golf equipment in Eastern Europe, comprising 58% of total imports. The second position in the ranking was held by Poland ($X), with an 18% share of total imports. It was followed by Slovakia, with an 8.7% share.

In the Czech Republic, golf equipment imports expanded at an average annual rate of +6.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Poland (+20.9% per year) and Slovakia (-5.8% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per unit, waning by -9.8% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 24%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Russia ($X per unit), while Hungary ($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 more modest paces of growth.

Source: IndexBox Platform

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