India: Golf Equipment Market 2024

Golf Equipment Market Size in India

In 2022, the Indian golf equipment market decreased by X% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption, however, posted a strong increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Golf Equipment Production in India

In value terms, golf equipment production totaled $X in 2022 estimated in export price. In general, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Golf equipment production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Golf Equipment Exports

Exports from India

In 2022, the amount of golf clubs and other golf equipment exported from India declined rapidly to X tons, shrinking by X% against 2021. Over the period under review, exports recorded a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, golf equipment exports declined markedly to $X in 2022. In general, exports recorded a abrupt downturn. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Bangladesh (X tons) and Nepal (X tons) were the main destinations of golf equipment exports from India, together accounting for X% of total exports.

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

In value terms, the United States ($X) remains the key foreign market for golf clubs and other golf equipment exports from India, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an X% share of total exports. It was followed by Saudi Arabia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The average golf equipment export price stood at $X per ton in 2022, declining by X% against the previous year. In general, the export price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Bangladesh ($X per ton) 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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Golf Equipment Imports

Imports into India

In 2022, imports of golf clubs and other golf equipment into India shrank rapidly to X tons, declining by X% compared with the previous year. Over the period under review, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, golf equipment imports soared to $X in 2022. Overall, imports, however, saw a resilient increase. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of golf equipment to India, with a X% share of total imports. Moreover, golf equipment imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. Singapore (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Singapore (X% per year).

In value terms, China ($X), the United States ($X) and Singapore ($X) appeared to be the largest golf equipment suppliers to India, together comprising X% of total imports. Taiwan (Chinese), Malaysia, South Korea, Indonesia and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

Indonesia, with a CAGR of X%, recorded the highest growth rate of 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 ton, picking up by X% against the previous year. Over the period under review, the import price, however, saw a abrupt contraction. The growth pace was the most rapid in 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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 the United Arab Emirates ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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