EU: Golf Equipment Market 2024

Golf Equipment Market Size in the EU

In 2022, the EU golf equipment market decreased by -37.6% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption showed a mild decline. As a result, consumption attained the peak level of $X, and then contracted remarkably in the following year.

Golf Equipment Production in the EU

In value terms, golf equipment production amounted to $X in 2022 estimated in export price. The total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +28.0% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 65%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Golf Equipment Exports

Exports in the EU

In 2022, after four years of growth, there was significant decline in overseas shipments of golf clubs and other golf equipment, when their volume decreased by -42.4% to X units. Overall, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 88% against the previous year. As a result, the exports reached the peak of X units, and then shrank significantly in the following year.

In value terms, golf equipment exports dropped notably to $X in 2022. Over the period under review, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 178% against the previous year. As a result, the exports reached the peak of $X, and then fell sharply in the following year.

Exports by Country

The Netherlands represented the key exporter of golf clubs and other golf equipment in the European Union, with the volume of exports resulting at X units, which was near 47% of total exports in 2022. France (X units) ranks second in terms of the total exports with a 17% share, followed by Germany (16%), Spain (8.2%) and Sweden (4.7%). Denmark (X units) held a relatively small share of total exports.

Exports from the Netherlands increased at an average annual rate of +9.4% from 2012 to 2022. At the same time, Denmark (+37.2%), France (+14.1%), Germany (+11.2%), Spain (+7.5%) and Sweden (+5.8%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +37.2% from 2012-2022. France (+6.6 p.p.), the Netherlands (+4.3 p.p.), Germany (+3.7 p.p.) and Denmark (+2.3 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest golf equipment supplying countries in the European Union were Germany ($X), the Netherlands ($X) and France ($X), together comprising 83% of total exports. Sweden, Denmark and Spain lagged somewhat behind, together accounting for a further 12%.

In terms of the main exporting countries, Denmark, with a CAGR of +49.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per unit in 2022, surging by 22% against the previous year. Export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% 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 increased by +82.9% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of 48% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+8.9%), while the other leaders experienced more modest paces of growth.

Golf Equipment Imports

Imports in the EU

In 2022, the amount of golf clubs and other golf equipment imported in the European Union declined to X units, with a decrease of -2.3% compared with the previous year. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.6% 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 +68.9% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 66%. As a result, imports attained the peak of X units, and then reduced slightly in the following year.

In value terms, golf equipment imports reached $X in 2022. Over the period under review, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 97%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, the Netherlands (X units), distantly followed by Germany (X units), Spain (X units), France (X units) and Sweden (X units) represented the largest importers of golf clubs and other golf equipment, together constituting 84% of total imports. Denmark (X units) and Ireland (X units) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +13.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest golf equipment importing markets in the European Union were the Netherlands ($X), Germany ($X) and France ($X), with a combined 67% share of total imports.

The Netherlands, with a CAGR of +14.7%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per unit, increasing by 2.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2021 an increase of 19%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :