The global golf equipment manufacturing market declined during 2008-2013 and is forecast to grow at a CAGR of 1.9% and reach $7.1 billion by 2019. The competitive rivalry is high in the industry as the leading players try to grab the market and increase their profit by entering new regions and increasing their brand credibility by signing top players for endorsements.
This study addresses the revenue generation of manufacturers as well as retailers. As per the study, the market share of the industry depends on the abilities of the companies to create best in class product in multiple price range. Counterfeited products pose a major threat to this industry. These products are cheaper ones compared to originals which force the manufacturers to decrease their price range to compete with counterfeiter’s price. Another challenge is that Chinese suppliers replicate company models who outsource products from China’s low-cost factory with almost exactly the same price as the genuine ones, since they are the products of the same factory manufactured in the afterhours.
Despite challenges, the industry has witnessed considerable growth as number of women participants are increasing in golf who are also fashion conscious driving the demand for golf club, golf ball, stylish and functional golf apparel, and golf footwear and accessories.
Most of the industry players constantly kept an eye on the global market and tried to source destinations to gain operational efficiencies. Use of aggressive marketing strategies and endorsement by companies influenced consumer preferences to existing product offerings and their brands. The industry is also focusing to extend its presence in the BRIC countries, especially India and China as they have good growth opportunities with growing upper class and their purchasing power.
This unique report will provide you with valuable information, insights, and tools needed to identify new growth opportunities and operate your business successfully in this market. This report will save hundreds of hours of your own personal research time and will significantly benefit you in expanding your business in this market. In today’s stringent economy, you need every advantage that you can find.