Market Insights Consumer Toys & Hobby Sports Equipment

Golf Equipment - Laos

Laos

in Laos, a country Southeast_Asia, also plays a significant role in the Golf Equipment market.
In 2024, the revenue in this market amounts to US$11m in Laos.
Looking ahead, it is expected to grow annually by 4.27%, with a compound annual growth rate (CAGR) between 2024 and 2029.
When compared globally, in China generates the highest revenue in the Golf Equipment market, amounting to a staggering US$8,876m in 2024.
This showcases the dominance of the Chinese market in this industry.
To put the revenue figures into perspective, in 2024, per person revenues in Laos amount to US$1.41.
This indicates the contribution of each individual to the overall revenue in the Golf Equipment market.
Despite its small market size, Laos has seen a growing interest in golf equipment, driven by the increasing number of golf courses and the rising popularity of the sport among local and international visitors.

Key regions: United States, Indonesia, China, Europe, India

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on goods people buy for their leisure activities and hobbies.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use in-house market research, national statistical offices, international institutions, trade associations, third-party studies, and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and household number. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for forecasting the Toys & Hobby market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.