Market Insights Consumer Toys & Hobby Sports Equipment

Golf Equipment - Luxembourg

Luxembourg

in Luxembourg, a small country Europe, is not only known for its picturesque landscapes and rich history, but also for its contribution to the golf equipment market.
In 2024, the revenue in this market segment in Luxembourg is projected to reach an impressive US$8m.
Looking ahead, the golf equipment market in Luxembourg is expected to experience a steady annual growth rate of 3.22% from 2024 to 2028, according to a compound annual growth rate (CAGR) analysis.
This indicates a positive trajectory for the industry in the coming years.
When comparing Luxembourg's golf equipment market to global counterparts, it becomes apparent that in China takes the lead in terms of revenue generation.
In 2024, in China is projected to generate a staggering US$8,876m in this market segment.
This demonstrates the immense scale of in China's golf equipment industry.
To put things into perspective, Luxembourg's per person revenue in the golf equipment market is estimated to be US$12.30 in 2024.
This indicates the average amount of revenue generated per individual in the country.
This figure showcases the significance of the market segment in relation to the total population figures of Luxembourg.
In conclusion, Luxembourg's golf equipment market is poised for growth and contributes its fair share to the global industry.
With its unique blend of history and modernity, the country continues to make its mark in various sectors, including the golf equipment market.
The demand for premium golf equipment in Luxembourg is on the rise, driven by the country's affluent population and growing interest in the sport.

Key regions: Asia, Europe, United Kingdom, China, Indonesia

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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.