Market Insights Consumer Toys & Hobby Sports Equipment

Golf Equipment - Saudi Arabia

Saudi Arabia

In Saudi Arabia, the Golf Equipment market is projected to generate a revenue of US$110.8m in 2024.
Over the years, the market is expected to experience a steady annual growth rate of 5.37% (CAGR 2024-2028).
When comparing the global market, in China leads the pack by generating the highest revenue of US$8,876.0m in 2024.
In terms of per capita figures, each individual in Saudi Arabia is estimated to contribute US$2.96 in revenue in 2024.
Saudi Arabia has seen a surge in demand for high-end golf equipment, driven by the country's growing number of luxury golf resorts and the increasing popularity of the sport among the affluent population.

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.