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Golf Equipment Market Size Forecast: Revenue and CAGR by 2029

November 14, 2025 by The Business Research Company

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What Is The Expected Total Market Size Of The Golf Equipment Industry By The Forecast Year 2029?

The golf equipment market has grown steadily in recent years. It is expected to increase from $28.55 billion in 2024 to $29.45 billion in 2025 at a CAGR of 3.1%. The historic growth can be attributed to the rising popularity of golf, development of golf courses, changing demographics, celebrity endorsements, and growth in golf tourism.

Anticipating a period of consistent expansion, the valuation of the Golf Equipment sector is projected to reach $35.29 billion by 2029, reflecting a steady compound annual growth rate of 4.6% over the coming years. This upward trajectory during the projection timeframe is fundamentally fueled by several factors, including ongoing advancements in product design and material science, an increasing level of engagement from younger consumer segments, prevailing inclinations toward tailoring products to individual preferences, the increasing role of digital marketplaces and online retail, and a mounting demand for environmentally conscious and sustainable offerings. Key directional shifts anticipated in the near future encompass the broader adoption of direct-to-consumer sales models, aesthetic and personalization movements influencing golf attire and accompanying items, an uptick in hybrid and versatile equipment designs, concerted efforts to develop lighter and more easily transportable golfing apparatus, and the integration of augmented reality technology within golf instruction methodologies.

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What Are The Key Drivers Of Growth In The Golf Equipment Market?

Anticipated expansion in the golf equipment sector will be fueled by rising trends in golf-related travel and official governmental backing. National administrations are actively encouraging the establishment of golf destinations, targeting both domestic visitors and overseas travelers as a means to secure further foreign currency revenue via the burgeoning golf tourism industry, thus contributing positively to overall economic advancement. This heightened golf tourism naturally leads to greater procurement and increased consumer appetite for golf apparatus. As an illustration of this commitment, in February of 2023, the USGA, which serves as the regulatory organization and national representative body for golf venues, clubs, and related infrastructure in the United States, launched the US National Development Program (USNDP), constructing an integrated route for nurturing top-tier golfing proficiency across the entire nation. The core mission of this initiative is the discovery, specialized coaching, long-term progression, and fiscal assistance provided to promising young golfers originating from varied demographic groups, intended to rectify the current shortfall in golf development capabilities when compared against rival nations. Central to the plan is a long-term funding mechanism designed to absorb costs such as registration fees and professional tuition, with objectives set to assist one thousand junior athletes by the year 2027. Consequently, the confluence of escalating golf tourism and supportive governmental policies acts as the primary impetus propelling the market forward.

What Are The Emerging Segments Gaining Attention In The Golf Equipment Market?

The golf equipment market covered in this report is segmented –

1) By Product Type: Golf Clubs, Golf Balls, Golf Bags And Accessories, Apparel, Footwear

2) By Distribution Channel: Specialty Stores, Sporting Goods Chain, On-Course Shops, Online Stores, Other Distribution Channels

3) By End-User: Amateurs, Professionals

Subsegments:

1) By Golf Clubs: Drivers, Irons, Putters, Hybrids

2) By Golf Balls: Premium Golf Balls, Value Golf Balls, Practice Balls

3) By Golf Bags And Accessories: Stand Bags, Cart Bags, Travel Bags, Accessories

4) By Apparel: Golf Shirts, Golf Pants Or Shorts, Outerwear, Headwear

5) By Footwear: Golf Shoes, Sandals, Insoles

What Long-Term Trends Will Shape The Future Growth Of The Golf Equipment Industry?

In the competitive golf equipment sector, dominant firms are focused on innovation through the introduction of novel products like drivers constructed from carbon fiber, aiming to secure a superior market position. Carbon fiber, a material characterized by its remarkable strength and low mass, is fundamentally composed of slender filaments primarily consisting of carbon atoms. As an illustration of this trend, Topgolf Callaway Brands, a prominent American sports equipment manufacturer, released its Paradym series in January 2023, incorporating revolutionary technology intended to profoundly improve user performance. The Paradym Drivers incorporate an unprecedented 360 Carbon Chassis, a design that entirely removes titanium from the club’s structure, thus enabling engineers to strategically redistribute mass for the greatest possible distance coupled with enhanced forgiveness. Due to the utilization of a Triaxial Carbon crown along with a Forged Carbon sole, these drivers weigh 44% less than those utilizing a titanium structure, leading to improvements in both ball velocity and player tolerance. Furthermore, an artificial intelligence-developed Jailbreak system contributes to overall stability and higher ball speeds, complemented by face cup technology, a debut feature in Callaway drivers, which maximizes the transmission of energy upon impact with the golf ball. The Paradym Drivers are available in three distinct variations—the standard Paradym, the Paradym X, and the Paradym Triple Diamond—each tailored to satisfy the unique needs and performance expectations of different golfers.

Who Are The Prominent Global Companies Shaping The Golf Equipment Market?

Major companies operating in the golf equipment market include Bridgestone Corporation, Dick’s Sporting Goods Inc., Sumitomo Rubber Industries Ltd., Puma SE, Callaway Golf Company, Topgolf Callaway Brands Corp., Amer Sports Corporation, Acushnet Holdings Corp., Titleist, Mizuna USA Inc., TaylorMade Golf Company Inc., SRI Sports Limited, Dunlop Sports Co. Ltd., Karsten Manufacturing Corporation, Wilson Sporting Goods, PING Inc., Roger Cleveland Golf Company Inc., Cleveland Golf, True Temper, Cobra Golf, Parsons Xtreme Golf, Dixon Golf Inc., Srixon Sports, Adams Golf, Wittek Golf Supply, Bailey & Izlet Inc., Matzie Golf

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Which Region Shows The Highest Potential For Future Expansion In The Golf Equipment Market?

North America was the largest region in the golf equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the golf equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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