United Kingdom: Golf Equipment Market 2024

Golf Equipment Market Size in the UK

The UK golf equipment market surged to $X in 2022, growing by 20% against the previous year. Over the period under review, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +61.5% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Golf Equipment Production in the UK

In value terms, golf equipment production reduced to $X in 2022 estimated in export price. In general, production, however, showed a slight contraction. The growth pace was the most rapid in 2014 with an increase of 18% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Golf Equipment Exports

Exports from the UK

For the third year in a row, the UK recorded decline in shipments abroad of golf clubs and other golf equipment, which decreased by -19.5% to X units in 2022. Overall, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 48%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, golf equipment exports contracted sharply to $X in 2022. In general, exports saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 17% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X units), the Netherlands (X units) and Germany (X units) were the main destinations of golf equipment exports from the UK, with a combined 66% share of total exports. The United States, Ireland, Sweden, South Africa, Norway, Switzerland, the United Arab Emirates, Spain, Denmark and Italy lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +21.0%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), France ($X) and Ireland ($X) appeared to be the largest markets for golf equipment exported from the UK worldwide, together comprising 65% of total exports. Germany, the United States, South Africa, Norway, Switzerland, Sweden, the United Arab Emirates, Spain, Denmark and Italy lagged somewhat behind, together comprising a further 27%.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +27.3%, 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

In 2022, the average golf equipment export price amounted to $X per unit, with a decrease of -2.4% against the previous year. Overall, the export price, however, recorded pronounced growth. The growth pace was the most rapid in 2021 an increase of 32% against the previous year. As a result, the export price reached the peak level of $X per unit, and then fell slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per unit), while the average price for exports to Italy ($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 Ireland (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Golf Equipment Imports

Imports into the UK

In 2022, the amount of golf clubs and other golf equipment imported into the UK rose sharply to X units, with an increase of 12% compared with 2021 figures. In general, imports, however, continue to indicate a mild reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 19% against the previous year. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, golf equipment imports rose significantly to $X in 2022. The total import value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 26%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

The United States (X units), Thailand (X units) and China (X units) were the main suppliers of golf equipment imports to the UK, together accounting for 82% of total imports. Taiwan (Chinese), Indonesia and Vietnam lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +15.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of golf clubs and other golf equipment to the UK, comprising 48% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports. It was followed by Taiwan (Chinese), with a 13% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.8% per year) and Taiwan (Chinese) (+13.3% per year).

Import Prices by Country

In 2022, the average golf equipment import price amounted to $X per unit, approximately reflecting the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 16%. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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 ($X per unit), while the price for Thailand ($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) (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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