Spain: Golf Equipment Market 2024

Golf Equipment Market Size in Spain

The Spanish golf equipment market dropped rapidly to $X in 2022, with a decrease of -27.7% 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). In general, consumption, however, continues to indicate a noticeable descent. Golf equipment consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Golf Equipment Exports

Exports from Spain

In 2022, the amount of golf clubs and other golf equipment exported from Spain contracted dramatically to X units, dropping by -23% on 2021. Over the period under review, exports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 83% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2021, and then declined remarkably in the following year.

In value terms, golf equipment exports declined to $X in 2022. Overall, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 54% against the previous year. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

The UK (X units), France (X units) and the United States (X units) were the main destinations of golf equipment exports from Spain, together accounting for 66% of total exports. Germany, Canada, Portugal, the Netherlands, Italy and Belgium lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +107.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for golf equipment exported from Spain were France ($X), the UK ($X) and the United States ($X), with a combined 64% share of total exports. Germany, Portugal, the Netherlands, Italy, Canada and Belgium lagged somewhat behind, together comprising a further 25%.

In terms of the main countries of destination, Canada, with a CAGR of +79.8%, 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, growing by 21% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 24%. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Canada ($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 (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Golf Equipment Imports

Imports into Spain

In 2022, overseas purchases of golf clubs and other golf equipment increased by 166% to X units, rising for the second consecutive year after five years of decline. In general, imports enjoyed a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, golf equipment imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 63% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Bulgaria (X units) constituted the largest supplier of golf equipment to Spain, with a 58% share of total imports. Moreover, golf equipment imports from Bulgaria exceeded the figures recorded by the second-largest supplier, China (X units), fourfold. The third position in this ranking was held by the Netherlands (X units), with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume from Bulgaria amounted to +1,274.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.2% per year) and the Netherlands (+18.2% per year).

In value terms, the largest golf equipment suppliers to Spain were the Netherlands ($X), China ($X) and Germany ($X), with a combined 69% share of total imports. France, the UK, Taiwan (Chinese), Italy, the United States and Bulgaria lagged somewhat behind, together comprising a further 26%.

Bulgaria, with a CAGR of +118.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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, waning by -55.8% against the previous year. In general, the import price recorded a abrupt setback. The pace of growth appeared the most rapid in 2018 when the average import price increased by 55%. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 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 Germany ($X per unit), while the price for Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :