Europe: Golf Equipment Market 2024

Golf Equipment Market Size in Europe

The Europe golf equipment market fell rapidly to $X in 2022, declining by -17.3% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then declined dramatically in the following year.

Golf Equipment Production in Europe

In value terms, golf equipment production reached $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 17% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Golf Equipment Exports

Exports in Europe

In 2022, overseas shipments of golf clubs and other golf equipment decreased by -36.8% to X units for the first time since 2018, thus ending a three-year rising trend. Total exports indicated a slight expansion from 2012 to 2022: its volume 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. The pace of growth appeared the most rapid in 2014 when exports increased by 39% against the previous year. Over the period under review, the exports reached the maximum at X units in 2021, and then dropped sharply in the following year.

In value terms, golf equipment exports reduced sharply to $X in 2022. Total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +31.5% against 2017 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 48% against the previous year. As a result, the exports attained the peak of $X, and then dropped remarkably in the following year.

Exports by Country

In 2022, the Netherlands (X units) and the UK (X units) represented the major exporters of golf clubs and other golf equipment in Europe, together creating 63% of total exports. France (X units) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by Germany (11%) and Spain (5.7%). Sweden (X units) and Denmark (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Denmark (with a CAGR of +37.2%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) remains the largest golf equipment supplier in Europe, comprising 42% of total exports. The second position in the ranking was held by Germany ($X), with an 18% share of total exports. It was followed by the Netherlands, with a 15% share.

In the UK, golf equipment exports shrank by an average annual rate of -3.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+17.2% per year) and the Netherlands (+5.4% per year).

Export Prices by Country

In 2022, the export price in Europe amounted to $X per unit, with an increase of 16% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the export price increased by 18%. The level of export peaked in 2022 and is expected to retain growth in the near future.

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 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 Europe

In 2022, the amount of golf clubs and other golf equipment imported in Europe totaled X units, surging by 4.3% on 2021. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 39%. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, golf equipment imports stood at $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +71.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 65% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

The UK represented the major importer of golf clubs and other golf equipment in Europe, with the volume of imports recording X units, which was approx. 52% of total imports in 2022. The Netherlands (X units) took the second position in the ranking, followed by Germany (X units), Spain (X units) and France (X units). All these countries together took approx. 34% share of total imports. The following importers - Sweden (X units) and Denmark (X units) - together made up 5.6% of total imports.

From 2012 to 2022, average annual rates of growth with regard to golf equipment imports into the UK stood at -1.2%. At the same time, Spain (+13.3%), the Netherlands (+11.4%), Germany (+6.0%), France (+3.3%), Sweden (+2.5%) and Denmark (+1.3%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing importer imported in Europe, with a CAGR of +13.3% from 2012-2022. The Netherlands (+8.2 p.p.), Spain (+4.2 p.p.) and Germany (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while the UK saw its share reduced by -15.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the UK ($X) constitutes the largest market for imported golf clubs and other golf equipment in Europe, comprising 34% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 16% share of total imports. It was followed by Germany, with a 15% share.

In the UK, golf equipment imports increased at an average annual rate of +1.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (+14.7% per year) and Germany (+12.0% per year).

Import Prices by Country

The import price in Europe stood at $X per unit in 2022, standing approx. at the previous year. Import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, golf equipment import price increased by +64.1% against 2015 indices. The growth pace was the most rapid in 2021 an increase of 19%. As a result, import price reached the peak level of $X per unit, leveling off in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform