Middle East: Golf Equipment Market 2024

Golf Equipment Market Size in the Middle East

The Middle Eastern golf equipment market declined rapidly to $X in 2022, which is down by -67.2% against the previous year. Over the period under review, consumption saw a drastic downturn. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Golf Equipment Production in the Middle East

In value terms, golf equipment production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of 38%. 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 the Middle East

In 2022, the amount of golf clubs and other golf equipment exported in the Middle East contracted markedly to X units, shrinking by -16.4% on the year before. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 127%. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, golf equipment exports dropped rapidly to $X in 2022. In general, exports, however, saw a tangible increase. The pace of growth was the most pronounced in 2021 with an increase of 139%. As a result, the exports attained the peak of $X, and then shrank remarkably in the following year.

Exports by Country

The United Arab Emirates represented the largest exporting country with an export of about X units, which amounted to 64% of total exports. It was distantly followed by Turkey (X units), making up a 27% share of total exports. Oman (X units) took a relatively small share of total exports.

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, Oman (+20.5%) and Turkey (+1.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +20.5% from 2012-2022. From 2012 to 2022, the share of Turkey and Oman increased by +3.1 and +3 percentage points, respectively.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Oman ($X) were the countries with the highest levels of exports in 2022, with a combined 82% share of total exports.

Oman, with a CAGR of +17.0%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, remaining constant against the previous year. Overall, the export price continues to indicate pronounced growth. The most prominent rate of growth was recorded in 2018 when the export price increased by 34% against the previous year. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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 Turkey ($X per unit), while the United Arab Emirates ($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 the Middle East

In 2022, approx. X units of golf clubs and other golf equipment were imported in the Middle East; with an increase of 11% on the previous year. Overall, imports, however, saw a deep downturn. The pace of growth was the most pronounced in 2019 when imports increased by 57% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, golf equipment imports fell to $X in 2022. Over the period under review, imports, however, showed a perceptible setback. The growth pace was the most rapid in 2021 with an increase of 60%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the main importer of golf clubs and other golf equipment in the Middle East, with the volume of imports accounting for X units, which was approx. 47% of total imports in 2022. It was distantly followed by Bahrain (X units), Qatar (X units), Turkey (X units) and Kuwait (X units), together constituting a 41% share of total imports. Syrian Arab Republic (X units) and Saudi Arabia (X units) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to golf equipment imports into the United Arab Emirates stood at -4.1%. At the same time, Bahrain (+19.6%), Syrian Arab Republic (+19.1%) and Kuwait (+8.9%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +19.6% from 2012-2022. Turkey experienced a relatively flat trend pattern. By contrast, Qatar (-6.6%) and Saudi Arabia (-38.3%) illustrated a downward trend over the same period. The United Arab Emirates (+32 p.p.), Bahrain (+16 p.p.), Turkey (+6.5 p.p.), Kuwait (+5.8 p.p.), Qatar (+5.5 p.p.) and Syrian Arab Republic (+3.5 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by -72.3% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported golf clubs and other golf equipment in the Middle East, comprising 74% of total imports. The second position in the ranking was taken by Turkey ($X), with an 11% share of total imports. It was followed by Bahrain, with a 3.5% share.

In the United Arab Emirates, golf equipment imports expanded at an average annual rate of +1.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (+3.9% per year) and Bahrain (+4.8% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, reducing by -21.7% against the previous year. Overall, the import price, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2013 an increase of 54%. Over the period under review, import prices hit record highs at $X per unit in 2021, and then dropped rapidly 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 Saudi Arabia (+17.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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