Indonesia: Golf Equipment Market 2024

Golf Equipment Market Size in Indonesia

In 2022, the Indonesian golf equipment market increased by 26% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Golf Equipment Production in Indonesia

In value terms, golf equipment production expanded rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Over the period under review, production hit record highs in 2022 and is likely to see gradual growth in years to come.

Golf Equipment Exports

Exports from Indonesia

In 2022, golf equipment exports from Indonesia contracted to X units, declining by -7.1% compared with 2021 figures. The total export volume increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 18%. Over the period under review, the exports attained the maximum at X units in 2021, and then declined in the following year.

In value terms, golf equipment exports stood at $X in 2022. The total export value increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 33% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for golf equipment exports from Indonesia, with a 47% share of total exports. Moreover, golf equipment exports to the United States exceeded the volume sent to the second major destination, the UK (X units), threefold. The third position in this ranking was taken by the Netherlands (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+1.6% per year) and the Netherlands (+42.4% per year).

In value terms, the United States ($X) remains the key foreign market for golf clubs and other golf equipment exports from Indonesia, comprising 52% of total exports. The second position in the ranking was taken by the UK ($X), with a 15% share of total exports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+0.1% per year) and the Netherlands (+46.3% per year).

Export Prices by Country

In 2022, the average golf equipment export price amounted to $X per unit, increasing by 8% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 12% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per unit) and the United States ($X per unit), while the average price for exports to Japan ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+2.8%), while the prices for the other major destinations experienced mixed trend patterns.

Golf Equipment Imports

Imports into Indonesia

In 2022, overseas purchases of golf clubs and other golf equipment increased by 83% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 221%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, golf equipment imports surged to $X in 2022. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 877% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

China (X units), Singapore (X units) and Japan (X units) were the main suppliers of golf equipment imports to Indonesia, together comprising 86% of total imports. Taiwan (Chinese), South Korea, Malaysia, Thailand and the United States lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +67.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest golf equipment suppliers to Indonesia were China ($X), Japan ($X) and Singapore ($X), with a combined 75% share of total imports. Thailand, the United States, Malaysia, South Korea and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 21%.

Among the main suppliers, Malaysia, with a CAGR of +74.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average golf equipment import price amounted to $X per unit, declining by -11% against the previous year. In general, the import price, however, recorded resilient growth. The pace of growth was the most pronounced in 2013 an increase of 606% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+21.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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