Golf Shaft Market Size, Share, Growth and Global Industry Analysis by Material (Wood, Iron, Carbon Fiber, and Graphite), By Application (Male, Female, and Children), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights and Forecast From 2025 To 2034

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GOLF SHAFT MARKET OVERVIEW

Global Golf Shaft market size is projected to rise from approximately USD 0.483 billion in 2025 to approximately USD 0.508 billion in 2026, reaching around USD 0.756 billion by 2034, progressing at a CAGR of 5.1% between 2025 and 2034.

The golf shaft market has been affected by the COVID-19 pandemic. However, it recovered very quickly during the pandemic because of the increased outdoor activities. Huge investments are expected to be made by the key players in the industry in the upcoming years. Latest product innovations will also drive the market growth. As many people are increasingly showing interest in golf there has been a surge in the sales. Asia-Pacific is now slowly acquiring a greater share in the market. High competition among the key players can be considered a restraining factor for the growth of the industry as new companies find it difficult to set their mark.

Key Findings

COVID-19 Impact

Lockdowns and Social-Distancing Norms Affected Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the golf shaft market growth and demand returning to pre-pandemic levels once the pandemic is over.

Owing to the COVID-19 pandemic, lockdown and social-distancing were imposed by the respective governments worldwide. Due to strict restrictions, the majority of people preferred staying indoors rather than going out. This has been one of the major reasons for the sharp decline in the golf shaft market share.

Golf is widely played in North America, European countries, and other oceanic countries which were badly affected by the COVID-19 pandemic. As a large number of players came from these countries, the restrictions imposed impacted golfing activity, both professional and leisure, impacting the market negatively.

However, unlike other markets, the particular market quickly recovered after mid-2020, with better sales and improved market conditions. As more individuals realize the recreational benefits that came from golfing, an increase in market share is anticipated during the next few years.

LATEST TRENDS

Huge Investments and Product Innovations in to Drive Market Growth

Many creative and innovative changes are being witnessed in the golf shaft industry recently. The key players of the industry are making huge investments in the market, especially on advertising and promotional activities which is fueling the sales in the golf shaft industry.

Many European countries have come forward to make enormous investments to improve the infrastructural facilities relating to the game. Rising number of golf competitions and international golf tournaments are expected to bring new market opportunities. Many millennials are increasingly participating in pro-golf tournaments which has a direct impact on the golf shaft sales. Growth of the golf tourism industry is one such new trend that will have an optimistic impact in the upcoming years.

• Rise in Golf Tourism – According to the National Golf Foundation (NGF, 2021), over 32 million rounds of golf were played in the U.S. in 2020, with 6.2 million new golfers adding to participation. This increase in engagement drives the demand for advanced golf shafts.

• Investments in Product Innovation – The Japan Golf Association (JGA, 2022) reports that 35% of golf shaft manufacturers have introduced lightweight graphite and carbon fiber shafts, improving swing flexibility and attracting younger players to the sport.

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GOLF SHAFT MARKET SEGMENTATION

• By Material

The market can be divided on the basis of material as follows:

 Wood, iron, carbon fiber and graphite. The iron shaft segment is projected to hold the dominant market share through 2028.

• By Application

Classification based on application is as follows: Male, female and children. Male market is expected to dominate the industry in the future.

DRIVING FACTORS

Surge in the Number of Golf Courses to Positively Impact the Golf Shaft Market

In the past few years, there has been a considerable increase in the number of golf courses in countries like the U.S., the U.K., Japan, Germany, Canada, South Korea, Italy, France, and Sweden. According to a recent report, the above countries have more than 50% of the world’s golf clubs.

The golf clubs which are present in these countries mostly belong to the golf-resorts, private clubs and golf-centric real estates. Hence a large number of them are accessible to the general public. The accessibility to the general public plays a key role in rising the demand for the market.

Growth of Golf Shaft Market in Asia Pacific to Improve the Golf Market Share Overall

The top contributors to the market growth from Asia Pacific include China, Japan, Thailand, and South Korea. Phenomenal growth has been witnessed in the past few years in these countries in terms of the number of golf clubs and people participating in golf tournaments.

Media exposure to golfing activities is another reason for the increasing popularity of the golf market. More and more youngsters are encouraged to play golf boosting the sales of golf equipment.

• Increase in Golf Courses Globally – As per Royal & Ancient (R&A, 2023), there are over 38,000 golf courses worldwide, with U.S., U.K., Japan, Germany, and South Korea accounting for more than 50% of total courses, fueling demand for golf shafts.

• Growth of Golf in Asia-Pacific – According to Asia Pacific Golf Federation (APGF, 2023), over 1.2 million new golfers were recorded in China, Japan, Thailand, and South Korea between 2019–2022, driving equipment sales including golf shafts.

RESTRAINING FACTOR

High Competition among the Key Players to Prevent the Golf Shaft Market Growth

Along with the robust expansion of the golf market, high competition can also be witnessed among the key players. Many competitive strategies are being adopted by the top companies to expand their presence in the golf shaft industry. New technologies are being implemented and extensive research is being done to achieve a competitive edge over the others.

Strategic expansion is being used as the key strategy by the competitors to expand their reach and geographical presence. Amidst this competition, new companies find it hard to establish their presence and footprint in the market.

• High Competition Among Key Players – Around 45% of market activity is concentrated among top companies like True Temper, Mitsubishi, and Fujikura, making it challenging for new entrants to establish market presence (NGF, 2021).

• Market Saturation in Mature Regions – According to European Golf Association (EGA, 2022), 65% of European golfers already own premium clubs with specialized shafts, limiting incremental sales growth in mature markets.

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GOLF SHAFT MARKET REGIONAL INSIGHTS

North America dominates the market. According to the National Golf Foundation, there were 24.8 million golfers in the U.S. in the year 2020. There was a 2% increase in 2020 compared to 2019 as per the research, 6.2 million new players came into light in the year 2020. There was also an increase in the number of beginning golfers and young golfers during this period.

There were 450,000 additional women golfers with an average increase of 8%. total sales of clubs and balls were at $2.9 billion in 2020. In 2021, 3.2 new golfers played in North America making it the dominating segment. As compared to 2019 there was a drastic increase of about 52.7% in both men and women players. The sudden boom of the golf shaft industry post the pandemic in North America will help the region dominate during the forecast period.

Key Industry Players

Leading Players adopt Acquisition Strategies to Stay Competitive

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

• True Temper (U.S.) – Manufactures over 3 million shafts annually, with R&D focused on lightweight steel and graphite materials for professional golfers (NGF, 2021).

• Mitsubishi (Japan) – Supplies 2.5 million high-performance carbon fiber shafts annually, widely used in Asia-Pacific tournaments (JGA, 2022).

List Of Top Golf Shaft Companies

• True Temper (U.S.)
• Mitsubishi (Japan)
• Fujikura (U.S.)
• Nippon Shaft (Japan)
• Paderson Shafts (Taiwan)
• Honma (Japan)
• Graphite Design (Japan)
• Aerotech (U.S.)
• FEMCO (U.S.)
• UST Mamiya (U.S.)
• Matrix (U.S.)
• ACCRA(Canada)
• LA Golf Shafts (U.S.)

Report Coverage

The report provides an insight into the golf industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations