Market Insights Consumer Toys & Hobby Sports Equipment

Golf Equipment - Nepal

Nepal

In 2024, the revenue in the Golf Equipment market in Nepal amounts to NPR US$31m.
It is projected that the market will experience an annual growth rate of 7.28% (CAGR 2024-2029).
In comparison to other countries worldwide, in China generates the highest revenue in this market, amounting to NPR US$8,876m in 2024.
When considering the total population of Nepal, the per person revenue generated in 2024 is NPR US$1.01.
The Golf Equipment market plays a significant role in Nepal's economy.
Despite the challenging terrain and limited resources, the demand for high-quality golf equipment in Nepal has been steadily increasing among avid golfers.

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.