Sweden: Golf Equipment Market 2024

Golf Equipment Market Size in Sweden

In 2022, the Swedish golf equipment market decreased by -13.4% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then fell in the following year.

Golf Equipment Exports

Exports from Sweden

For the fifth year in a row, Sweden recorded growth in overseas shipments of golf clubs and other golf equipment, which increased by 13% to X units in 2022. Overall, exports posted a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 129%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, golf equipment exports reduced sharply to $X in 2022. Over the period under review, exports recorded resilient growth. The most prominent rate of growth was recorded in 2020 when exports increased by 103%. The exports peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Germany (X units), Norway (X units) and Finland (X units) were the main destinations of golf equipment exports from Sweden, with a combined 70% share of total exports. Denmark, the United States, the UK and Saudi Arabia lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of +259.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for golf equipment exported from Sweden were Norway ($X), Finland ($X) and Denmark ($X), with a combined 75% share of total exports. The United States, the UK, Germany and Saudi Arabia lagged somewhat behind, together accounting for a further 18%.

In terms of the main countries of destination, Saudi Arabia, with a CAGR of +263.2%, recorded 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, declining by -26.9% against the previous year. Overall, the export price, however, showed a strong increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 44%. Over the period under review, the average export prices attained the maximum at $X per unit in 2021, and then declined dramatically in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per unit), while the average price for exports to Germany ($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 Finland (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Golf Equipment Imports

Imports into Sweden

After three years of growth, supplies from abroad of golf clubs and other golf equipment decreased by -0.4% to X units in 2022. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 35%. Imports peaked at X units in 2021, and then dropped in the following year.

In value terms, golf equipment imports declined to $X in 2022. Over the period under review, imports, however, recorded strong growth. The most prominent rate of growth was recorded in 2020 when imports increased by 34%. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

China (X units), the Netherlands (X units) and Taiwan (Chinese) (X units) were the main suppliers of golf equipment imports to Sweden, with a combined 68% share of total imports. Finland, Germany, France, Denmark, the UK and the United States lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +64.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest golf equipment suppliers to Sweden were the Netherlands ($X), China ($X) and Germany ($X), together comprising 74% of total imports. The UK, France, Taiwan (Chinese), the United States, Denmark and Finland lagged somewhat behind, together comprising a further 21%.

Finland, with a CAGR of +59.9%, saw the highest rates of growth with regard to the value of imports, among 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 -11.2% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, golf equipment import price increased by +8.1% against 2020 indices. The growth pace was the most rapid in 2014 an increase of 30% against the previous year. The import price peaked at $X per unit in 2021, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Finland ($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 (+19.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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