Domestic Golf Goods Market in 2018 Rose by 1.5% to Achieve 262,640 Million Yen
Yano Research Institute (the President, Takashi Mizukoshi) has conducted a survey on the domestic golf goods market and has found out the trends by category, trends of the leading companies, and the future outlook.
The domestic golf goods market size based on the sales at manufacturers rose to 262,640 million yen in 2018, 101.5% of the size of the preceding year, recording the second consecutive years of growth since 2017. The major reason was because of the favorable demand for golf clubs, the category that occupies the largest sales ratio within the entire golf goods market.
The Portable Golf Rangefinders Market Boosted by Revised Rules
The market of portable golf rangefinders in 2018 based on the sales at manufacturers has rapidly grown to 4,350 million yen, 162.3% of the size of the previous year. The market is the newest in the entire mid-2000s-established golf goods market. After various developments, golf rangefinders have remarkably improved battery run time, which had been the challenge until recently, and have increased the variety including those that can measure the height difference and those with a pin seeker function (a function that can accurately measure the distance to the pin). Laser rangefinders, too, have been developed from conventional models by each manufacturer to have value added features such as vibration reduction technology, encouraging the replacement demand and making the market on the rise.
The factor that has most favorably affected was the revision of the rules in 2019, permitting the use of rangefinders even during the tournament play except for some functions. Though there may not be many golfers actually participating in the tournament, still, the revised rules led those golfers who had not used before to pay attention to rangefinders, invigorating the demand.
The domestic market size of golf goods for 2019 based on the sales at manufacturers is likely to increase to 267,540 million yen, 101.9% of the size of the previous year. The market is projected to grow for three consecutive years since 2017, but when analyzing the first half of 2019, the market has largely declined on a year-to-year basis, except for some product categories. If this tendency continues, the market in 2019 fails to grow like it did in 2017 and 2018.
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