MENA: Golf Equipment Market 2024

Golf Equipment Market Size in MENA

The MENA's golf equipment market shrank notably to $X in 2022, reducing by -68.4% against the previous year. In general, consumption saw a abrupt contraction. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Golf Equipment Production in MENA

In value terms, golf equipment production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 32% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Golf Equipment Exports

Exports in MENA

In 2022, exports of golf clubs and other golf equipment in MENA fell to X units, dropping by -9.2% on the year before. Overall, exports, however, showed a slight expansion. The most prominent rate of growth was recorded in 2021 with an increase of 119% against the previous year. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, golf equipment exports dropped significantly to $X in 2022. In general, exports, however, posted temperate growth. The most prominent rate of growth was recorded in 2017 with an increase of 131%. Over the period under review, the exports attained the maximum at $X in 2021, and then declined significantly in the following year.

Exports by Country

The United Arab Emirates was the main exporting country with an export of about X units, which reached 58% of total exports. Turkey (X units) ranks second in terms of the total exports with a 25% share, followed by Morocco (8.6%). Oman (X units) followed a long way behind the leaders.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of golf clubs and other golf equipment. At the same time, Morocco (+76.5%), Oman (+20.5%) and Turkey (+1.7%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in MENA, with a CAGR of +76.5% from 2012-2022. While the share of Morocco (+8.6 p.p.) and Oman (+2.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-12.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest golf equipment supplying countries in MENA were the United Arab Emirates ($X), Turkey ($X) and Oman ($X), together accounting for 81% of total exports. Morocco lagged somewhat behind, accounting for a further 1.3%.

Morocco, with a CAGR of +38.6%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 MENA amounted to $X per unit, with a decrease of -6.9% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.2% 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 -10.2% against 2019 indices. The most prominent rate of growth was recorded in 2018 an increase of 31% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+7.2%), while the other leaders experienced mixed trends in the export price figures.

Golf Equipment Imports

Imports in MENA

Golf equipment imports rose notably to X units in 2022, with an increase of 12% compared with 2021 figures. Overall, imports, however, showed a abrupt decline. The growth pace was the most rapid in 2019 when imports increased by 56% against the previous year. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, golf equipment imports declined to $X in 2022. In general, imports, however, recorded a pronounced contraction. The pace of growth appeared the most rapid in 2021 when imports increased by 58% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X units) represented the main importer of golf clubs and other golf equipment, constituting 43% of total imports. Bahrain (X units) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (8.7%), Turkey (7.4%), Kuwait (5.8%) and Morocco (4.7%). Syrian Arab Republic (X units) followed a long way behind the leaders.

Imports into the United Arab Emirates decreased at an average annual rate of -4.1% from 2012 to 2022. At the same time, Bahrain (+19.6%), Syrian Arab Republic (+19.1%), Kuwait (+8.9%) and Morocco (+3.7%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in MENA, with a CAGR of +19.6% from 2012-2022. Turkey experienced a relatively flat trend pattern. By contrast, Qatar (-6.6%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+28 p.p.), Bahrain (+15 p.p.), Turkey (+5.9 p.p.), Kuwait (+5.2 p.p.), Qatar (+4.8 p.p.), Morocco (+4 p.p.) and Syrian Arab Republic (+3.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported golf clubs and other golf equipment in MENA, comprising 68% of total imports. The second position in the ranking was held by Turkey ($X), with a 9.6% share of total imports. It was followed by Morocco, with a 6.3% share.

In the United Arab Emirates, golf equipment imports increased at an average annual rate of +1.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+3.9% per year) and Morocco (+6.4% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per unit, with a decrease of -19.5% against the previous year. Over the period under review, the import price, however, recorded a strong increase. The most prominent rate of growth was recorded in 2013 when the import price increased by 53% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2021, and then reduced remarkably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Bahrain ($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 Arab Emirates (+5.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform