Golf Rangefinder Market Size & Share, Market Research and Industry Forecast Report, 2019-2025 (Includes Business Impact of COVID-19)

  • TBI193864
  • November 29, 2020
  • Global
  • 132 pages
  • Lucintel

Industry Insights, Market Size, CAGR, High-Level Analysis: Golf Rangefinder Market

The global golf rangefinder market size was valued at USD 106.7 million in 2018. Rising popularity of golf among the business professionals at a global level is expected to be a key factor for the market growth. Moreover, increasing number of golf courses around the world is expected to expand the products scope over the forecast period. Over past few years, golf has gained popularity like other sports including tennis and soccer around the globe. Moreover, increasing acceptance of this sports among men and women of any age has resulted in the increase in the number of golf courses across the globe. This game has increased popularity in the countries including U.S., Scotland, Ireland, and Denmark. Growing trend of golf leads to an increase in the demand for rangefinder as it is a crucial tool for players to scale distance and improve their shots. This tool is also very essential for unprofessional golfers and amateurs as it allows them to gauge the distance between the target hole and them. This device has several benefits including assisting both professionals golfers as well as new comers to improve their games and increase the shot accuracy. According to a report ˜Golf around the world 2017 published by the R&A, a global golf sport governing body, there were total 33,161 golf facilities present in 208 countries around the globe till the end of year 2016. In addition, 74% of these facilities was geographically concentrated in the top 10 golf enthusiast countries including U.S., Canada, Scotland, England, Sweden, Germany, France, Australia, Japan, and South Africa. According to the statistics provided in the ˜Golf Industry Report, in 2017, an estimated 23.8 million people played on-course golf and 8.3 million people played off-course, which was increased by 7%. The overall population who played golf was about 32 million. Such increase in the participation in sports is likely to propel the demand for the rangefinder over the forecast period.

Product Insights of Golf Rangefinder Market

Laser rangefinder was the prominent product segment with a share of exceeding 60.0% in 2018. The segment is expected to maintain its lead over the forecast period. These products are very accurate as compared to their counterpart GPS rangefinder, which is much helpful for the beginners to make accurate shots as well as to find the flag and balls exact position.Major manufacturing companies including Bushnell Corporation,Nikon Corporation, SkyHawke Technologies, LLC, and Callaway are launching new products in order to cater to the increasing demand for rangefinder across the globe. For instance, in January 2019, Bushnell Corporation launched one of the technologically advanced laser rangefinder under the brand name ˜Pro XE. The product has improved optics, coupled with longer ranging. Moreover, the company has updated the slope algorithm, which adds more precision to the product. These features expected to fuel the demand for technologically advanced product over the forecast period. Distribution Channel Insights Offline channel dominated the market with more than 85.0% share in 2018. In developed countries including Scotland, England, Germany, Japan, and U.S., a large chain of sports stores has been catering to the consumers requirements. For instance, in April 2019, Decathlon S.A., one of the leading French sporting goods retailers, inaugurated its new store in Emeryville, California. The company is planning to gain the maximum customer base through its wide product offerings across U.S. Online distribution channel is projected to expand at the fastest CAGR of 9.8% from 2019 to 2025 as a result of convenience offered to the consumers. Moreover, online retailers including Amazon and AMERICAN GOLF (TRADING) LIMITED are adding this category as a main focus area. Furthermore, presence of high-speed internet and smartphone availability in developed countries such as U.K., Scotland, Ireland, and Denmark are expected to fuel the expansion of the online market over the forecast period. Companies including Bushnell Corporation and AMERICAN GOLF (TRADING) LIMITED are launching their exclusive online portals, where the customers can buy genuine products directly.

Regional Insights of Golf Rangefinder Market

North America emerged as a major consumer in 2018, accounting for 45.4% share owing to increased popularity of golf in U.S and Canada. In U.S., 29th April is celebrated as ˜National Golf Day. Furthermore, since 2009, continuation of the coalition ˜WE ARE GOLF in U.S. is expected to increase the product awareness among the buyers. This, in turn, will have a positive impact on the golf rangefinder market growth over the next few years. Major manufacturers include Bushnell Corporation, Nikon Corporation, SkyHawke Technologies, LLC, and ZEISS International are launching new products in U.S. For instance, in September 2018, Bushnell Corporation launched brand new rangefinder with laser and GPS technologies in-built under the brand name ˜Bushnell Hybrid Laser Rangefinder & GPS. The product is one of its kind with integrated GPS and Laser display.

Market Share Insights of Golf Rangefinder Market

The market is consolidated in nature as a result of high concentration of strong players in the countries including U.S., U.K., and Scotland, where golf has increased popularity. Moreover, some strong players including Bushnell Corporation; Nikon Corporation; Laser Link; Callaway; Leupold & Stevens, Inc.; SkyHawke Technologies, LLC; and ZEISS International are offering technologically advanced products in order to cater to the increasing demand from amateurs and professional players. Additionally, the companies are adopting strategies such as new product launch and brand alliance formation, in order to gain the maximum customer base. For instance, in March 2019, Nikon Corporation announced to launch new and portable Laser rangefinder under the brand name ˜COOLSHOT 20 GII. The product is equipped with 6x multicoated lenses, coupled with a measurement range from 5 meters to 730 meters with full accuracy.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Golf Rangefinder Market Research Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global golf rangefinder market report on the basis of product, distribution channel, and region:

Product Outlook (Revenue, USD 000, 2019 - 2030)

  • GPS

Distribution Channel Outlook (Revenue, USD 000, 2019 - 2030)

  • Offline
  • Online

Table of Contents
Chapter 1. Methodology and Scope                  1.1. Market Segmentation & Scope                  1.2. Market Definition                  1.3. Information Procurement                      1.3.1. Purchased Database                      1.3.2. GVR’s Internal Database                      1.3.3. Secondary Sources & Third-Party Perspectives                      1.3.4. Primary Research                  1.4. Information Analysis                       1.4.1. Data Analysis Models                  1.5. Market Formulation & Data Visualization                  1.6. Data Validation & P
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