Objective
In the end you should be able to recall the term Golf Sport, Golf Equipment, Statistics and the current value of golf equipments industry and the big name companies manufacturing golf equipment
What is Golf sport? Simply put Golf Sport is a club and ball sport in which players use various club to hit ball into series(arranged in a particular pattern)of holes in the course in as much few strokes as possible
What is Golf Equipment? Simply put it is the instruments used in playing golf sport game, golf equipment encompasses the various item used in playing the sport called golf
The term”equipment” in golf sport crosses the barrier of clubs alone, yes clubs are a major part of your golf sport game but there are more to golf equipment than merely clubs
Golf Equipment is any tool which enhances golf sport playability and easibilty, examples of such equipment might include the golf ball, clubs, devices that aid in the process of a stroke
The industry of golf sport (equipment)is the most commercial viable aspect of golf game and such reason lies in the fact that every major aspect of your golf sport games will be dealing with golf equipment, to efficiently play golf you must practice continuously just as doing any other aspect of life
When you become great at golfing your handicap-ism lowers, handicap is the measurement of ones playing ability in the game of golf
In a more simplified description, the lower your handicap the more better your golf game
Amateurs do have higher handicap-ism level(high handicap) and as they learn it lowers
There are 3 handicap level in the sport of golf, this levels include high handicap, mid handicap and low handicap, from the explanation on how handicap-ism works, use your imagination and you will understand what the other 2 levels mean
Ok, to make it easy, higher handicap means you aren’t good enough at golfing, mid-handicap means you are getting better at golfing and low handicap means you are a good golfer
Golf Sport equipment industry is currently valued at an all time high of whooping $2.6B
Imagine that, hope it shouldn’t come as a surprise to you that one quarter of the businesses in the inaugural NGF are golf equipment companies
Golf equipment have a huge market and it still continues to increase, now many companies are fully into the manufacture and development of golf sport equipments
22 of this companies are majorly into clubs, shaft, grip and ball segment(production/make) with the others into shoes, apparel and probably accessories
This are some of the well known brand manufacturers of golf equipments, to be specific clubs, shaft and balls
Callaway, Titleist, PING, Taylormade, these companies are setting the pace for other golf equipment companies to follow suit, they are well known golf equipment compaanies that specializes in the manufacture of high end golf equipment built to last
The wholesale equipment statistics in the US as regard to golf equipment sale in comparison to any other sport showed that golf sport is among the top recreational sport most especially in the US
No matter how expensive this equipment continue to grow the sport of golf is never in a decline, this up trend in golf activities around the world and most especially in the G-7 Nations has made golf sport industry worth more than it has ever been ($2.6B) as a rough estimate
More money is being spent on clubs, ball and other golf equipments such that the famous football, basketball and base ball combined has never recorded
In accordance with sport and fitness industry association 2017 manufacturer sales report
Companies into equipment manufacturing were in front and centre at the famous show in Orlando(PGA Merchandise)
The big company producers of golf equipment(Titleist and callaway)watched their stock price move rapidly upward in recent years, Callaway went 30% upward
Nike another big brother when it comes to equipments(golf) manufacturer evacuated the market to focus solely on footwear and apparel
Golf sport continues to expand around the world and so does it’s manufacturing companies as new golfers keeps on taking on the game, in accordance to the speech made by Callaway CEO Chip Brewer, he said, ”From a business perspective, Golf industry is getting a lot healthier”
There have been a tremendous and baffling improvement on the functionality of these equipment in comparison to previous year, every single year, better and improved equipment are crafted to help aid better playability and easibility in playing golf game
This simply mean new golfer have better chances of becoming better golfers in no time compared to new golfers of those old era
Clubs alone makes up roughly 2/3 of equipment industry sale and ball about 1/3 that is the reason behind the prominent feautres of suppliers and manufacturers of golf clubs and components in the NGF GOLF 100
Titleist, Callaway, Cleveland, Puma, Ping Tour Edge, Mizuno name them are all in this list simply because they manufacture clubs and balls
continued technological advancement on equipment would never cease to be even so personalization and customization of this equipments to meet everyone’s need
this advancement in better and more efficient technology as explained earlier would make golfing easier and more fun coupled with the most important aspect of golf sport, i.e becoming better and more relevant
there are a whole lot of advanced and well built equipment from where you can choose from, one interesting thing with this improved equipment is the aspect of customization, this equipment are customized in a way that everyone has a specific equipment best suited for their playing style and abilities
Just in case someone might ask, How much money is spent of golf equipment each year?
How Much Is Spent On Golf Equipment Each Year
As said earlier, Golf sport equipment industry is valued on estimation at $2.6B and still in an up surge
Money spent of Golf Equipment’s each year is quite outrageous and mind blowing about this is due to the fact that golf sport equipments are quite expensive and more also golf sport is the game of the financially endowed
No doubt for it is the truth, check out the Gentle-men who are well to do, a whole lot are highly engaged in the sport of golf than any other sport
Golf sport always regarded as the game of Gentlemen(financially made) this is no surprise why golf continues to dominate when it comes to one of the most expensive sports in the whole world, yes I quite understand that the likes of Football, Basketball and probably Table Tennis Equipment’s might be more popular than Golf sport Equipment’s, but when it comes to the big spending no one comes any closer to Golf sport Equipment’s
Golf Sport is associated with money, this sport is big business, from the courses down to every single equipment
In accordance to National Golf Foundation Survey of 2013, looking at the demographics on Golfers, 11% of golfers are born before 1946, 27% golfers between 1946-1964, 27% are born between 1965-1975, 29% of golfers are born between 1980-1999 and 6% are born after 1999
according to smartAssest golfers born between 1946-1964 spend an average of $1908 on golf equipment while those born from 1965-1999 spend on an average of $1,262 on equipment
the debate on the cost of Golf Equipment’s is not started today, it’s been over a 100 years ago, An issue occurred in 1915 which initiated the listing of the cost of the initiation fee at an exclusive golf club of which it happened to be $5000 and using the inflation calculator of smart assets such sum of money is an equivalent of $116,166 in today’s exchange rate
total typical cost of golf equipment in 1915 for a year in inclusion of an initiation fee, annual dues, club, ball, car fare and caddle was at $182.50 an equivalent of $4,288 in today’s rate and this is simply in exclusion of the one time initiation fee the cost(average) of golf in a year is said to be $2,788 today equivalent to about $120 in 1915
Golf equipment industry alone is valued at $2.6B, why not? When most of it’s wholesale equpiment in dollar are patron from the US
Conclusion
Golf equipment sale statistics continues to increase as more people get introduced to golf sport
Particularly clubs and balls are considered the most important aspect of golf because in the actual sense that is what you will be needing to play golf
This golf equipment industry is valued at an all time high of $2.6B(estimation) and is still on an increase
With big companies like Titleist, Callaway, Puma, Mizuno, Odyssey e.t.c being the top manufacturers of golf sport equipments
Golf is said to overtake virtually every other sport when it comes to the big spending with golf club being the most spent on item in all of golf equipments