Norway: Golf Equipment Market 2024

Golf Equipment Market Size in Norway

After two years of growth, the Norwegian golf equipment market decreased by -11.4% to $X in 2022. Over the period under review, consumption, however, showed a prominent expansion. As a result, consumption attained the peak level of $X, and then declined in the following year.

Golf Equipment Exports

Exports from Norway

In 2022, after two years of growth, there was significant decline in overseas shipments of golf clubs and other golf equipment, when their volume decreased by -14.4% to X units. In general, exports recorded a pronounced descent. The pace of growth appeared the most rapid in 2017 with an increase of 389%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, golf equipment exports skyrocketed to $X in 2022. Overall, exports recorded a pronounced reduction. The growth pace was the most rapid in 2017 with an increase of 209%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X units) was the main destination for golf equipment exports from Norway, with a 89% share of total exports. Moreover, golf equipment exports to Sweden exceeded the volume sent to the second major destination, the UK (X units), more than tenfold. The third position in this ranking was taken by the United States (X units), with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden totaled -2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+21.2% per year) and the United States (+4.1% per year).

In value terms, Sweden ($X) remains the key foreign market for golf clubs and other golf equipment exports from Norway, comprising 58% of total exports. The second position in the ranking was held by the UK ($X), with a 19% share of total exports. It was followed by the United States, with a 17% share.

From 2012 to 2022, the average annual growth rate of value to Sweden amounted to -5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+17.1% per year) and the United States (+7.5% per year).

Export Prices by Country

In 2022, the average golf equipment export price amounted to $X per unit, picking up by 44% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 54%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Sweden ($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 United States (+3.2%), while the prices for the other major destinations experienced mixed trend patterns.

Golf Equipment Imports

Imports into Norway

After two years of growth, supplies from abroad of golf clubs and other golf equipment decreased by -11.6% to X units in 2022. Over the period under review, imports, however, showed a buoyant expansion. The growth pace was the most rapid in 2020 when imports increased by 68%. Over the period under review, imports hit record highs at X units in 2021, and then shrank in the following year.

In value terms, golf equipment imports fell to $X in 2022. In general, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 69% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, China (X units) constituted the largest golf equipment supplier to Norway, with a 55% share of total imports. Moreover, golf equipment imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold. The third position in this ranking was held by the UK (X units), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.9% per year) and the UK (-0.1% per year).

In value terms, China ($X) constituted the largest supplier of golf clubs and other golf equipment to Norway, comprising 44% of total imports. The second position in the ranking was taken by the UK ($X), with a 19% share of total imports. It was followed by the United States, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+4.0% per year) and the United States (-6.3% per year).

Import Prices by Country

In 2022, the average golf equipment import price amounted to $X per unit, flattening at the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 23%. 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 Vietnam ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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