Luxembourg: Golf Equipment Market 2024

Golf Equipment Market Size in Luxembourg

The Luxembourg golf equipment market skyrocketed to $X in 2022, rising by 290% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a measured expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Golf Equipment Exports

Exports from Luxembourg

In 2022, after three years of growth, there was significant decline in shipments abroad of golf clubs and other golf equipment, when their volume decreased by -80.5% to X units. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 359% against the previous year. As a result, the exports attained the peak of X units, and then dropped notably in the following year.

In value terms, golf equipment exports declined notably to $X in 2022. Overall, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 268%. The exports peaked at $X in 2021, and then contracted sharply in the following year.

Exports by Country

Belgium (X units) was the main destination for golf equipment exports from Luxembourg, accounting for a 61% share of total exports. Moreover, golf equipment exports to Belgium exceeded the volume sent to the second major destination, Switzerland (X units), threefold. The third position in this ranking was taken by Germany (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium amounted to +20.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+50.6% per year) and Germany (+55.1% per year).

In value terms, the largest markets for golf equipment exported from Luxembourg were Belgium ($X), Germany ($X) and Switzerland ($X), with a combined 76% share of total exports. The UK, the Netherlands, Norway, France and Spain lagged somewhat behind, together comprising a further 10%.

In terms of the main countries of destination, the UK, with a CAGR of +101.7%, saw 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

In 2022, the average golf equipment export price amounted to $X per unit, rising by 325% against the previous year. Over the period under review, the export price showed a resilient increase. The growth pace was the most rapid in 2018 an increase of 370% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Spain ($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 the Netherlands (+203.6%), while the prices for the other major destinations experienced more modest paces of growth.

Golf Equipment Imports

Imports into Luxembourg

After three years of growth, supplies from abroad of golf clubs and other golf equipment decreased by -12.1% to X units in 2022. In general, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 46%. Over the period under review, imports attained the peak figure at X units in 2021, and then dropped in the following year.

In value terms, golf equipment imports declined remarkably to $X in 2022. Over the period under review, imports, however, showed a slight expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 70%. Imports peaked at $X in 2021, and then fell remarkably in the following year.

Imports by Country

Germany (X units), China (X units) and France (X units) were the main suppliers of golf equipment imports to Luxembourg, with a combined 73% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +20.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and France ($X) appeared to be the largest golf equipment suppliers to Luxembourg, together comprising 64% of total imports.

In terms of the main suppliers, China, with a CAGR of +12.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average golf equipment import price amounted to $X per unit, dropping by -13.7% against the previous year. In general, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2018 an increase of 83% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Thailand ($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 United States (+2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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