Portugal: Golf Equipment Market 2024

Golf Equipment Market Size in Portugal

After three years of decline, the Portuguese golf equipment market increased by 164% to $X in 2022. Overall, consumption recorded a buoyant increase. Golf equipment consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Golf Equipment Production in Portugal

In value terms, golf equipment production reduced to $X in 2022 estimated in export price. In general, production enjoyed significant growth. The pace of growth appeared the most rapid in 2016 when the production volume increased by 142% against the previous year. Golf equipment production peaked at $X in 2021, and then declined in the following year.

Golf Equipment Exports

Exports from Portugal

In 2022, shipments abroad of golf clubs and other golf equipment decreased by -71.8% to X units, falling for the second year in a row after two years of growth. Over the period under review, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by 831%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, golf equipment exports dropped sharply to $X in 2022. Overall, exports saw a abrupt shrinkage. The growth pace was the most rapid in 2020 with an increase of 457% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The UK (X units) was the main destination for golf equipment exports from Portugal, with a 49% share of total exports. Moreover, golf equipment exports to the UK exceeded the volume sent to the second major destination, Spain (X units), twofold. Ghana (X units) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume to the UK amounted to +36.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-22.1% per year) and Ghana (+18.4% per year).

In value terms, the UK ($X), Spain ($X) and the Netherlands ($X) constituted the largest markets for golf equipment exported from Portugal worldwide, together comprising 67% of total exports. Angola, Switzerland, Ghana and Belgium lagged somewhat behind, together comprising a further 28%.

Among the main countries of destination, Ghana, with a CAGR of +37.6%, recorded the highest rates of growth with regard to 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

The average golf equipment export price stood at $X per unit in 2022, rising by 17% against the previous year. Over the period under review, the export price, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2015 an increase of 71%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the UK ($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 Ghana (+16.2%), while the prices for the other major destinations experienced more modest paces of growth.

Golf Equipment Imports

Imports into Portugal

After four years of decline, purchases abroad of golf clubs and other golf equipment increased by 31% to X units in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 37% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, golf equipment imports surged to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

France (X units), the Netherlands (X units) and Spain (X units) were the main suppliers of golf equipment imports to Portugal, together accounting for 70% of total imports. Belgium, China, Germany and the UK lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +19.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Netherlands ($X) and Spain ($X) constituted the largest golf equipment suppliers to Portugal, with a combined 78% share of total imports. Germany, the UK, China and Belgium lagged somewhat behind, together comprising a further 15%.

In terms of the main suppliers, China, with a CAGR of +33.8%, saw 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, increasing by 19% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 the UK ($X per unit), while the price for Belgium ($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 (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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