A golf rangefinder is a tool that estimates the distance between the observer and the target. The golf rangefinder is among the most important tools for players to use in order to judge distance and boost their scores. Amateurs particularly use it to measure the distance between themselves and the flag. Golf rangefinders have various advantages in assisting both seasoned players and young golf professionals to enhance their game significantly, ultimately perfecting the process of striking targets.
As per Transparency Market Research, the worldwide golf rangefinder market is anticipated to grow rapidly during the forecast period (2021 to 2031).
Golf is becoming popular among amateurs, country clubs, and business professionals. Golf club makers’ popularity and profitability have grown dramatically in recent years. Golf is becoming a popular status sport all around the world.
Golf’s growing popularity among business professionals across the world is anticipated to be a major factor likely to drive the global golf rangefinder market. Moreover, a growing number of golf courses worldwide are projected to broaden the product’s scope over the projection period.
As per the R&A, a global golf sport regulatory body, there were a total of 33,171 golf facilities present in 208 nations worldwide in 2016. Furthermore, 74% of these facilities were located geographically in the top ten golf fan countries, which included the United States, Scotland, Canada, England, Germany, Sweden, France, Japan, South Africa, and Australia.
As per the ‘Golf Industry Report,’ 22.8 million people practiced on-course golf in 2017, and 7.3 million people practiced off-course. Approximately 32 million people played golf in total. Such a rise in sports activity is projected to drive rangefinder demand, thereby propelling the global golf rangefinder market.
Laser Rangefinders to be Leading Product Segment
The laser rangefinders segment is projected to witness significant growth in the global golf rangefinder market over the forecast period. These products are significantly more accurate than their equivalent GPS rangefinders, which is highly helpful for amateurs to achieve more accurate shots and determine the exact position of the ball and flag. Major manufacturers like SkyHawke Technologies, LLC, Nikon Corporation, Bushnell Corporation, and Callaway are introducing new models to meet the growing demand for rangefinders around the world.
For example, in January 2019, Bushnell Corporation introduced the ‘Pro XE,’ a technologically enhanced laser rangefinder. The product boasts superior optics and a greater range. Moreover, the company has upgraded the slope algorithm, which improves the product’s precision. These characteristics are projected to drive demand for technically sophisticated products. As a result, the global golf rangefinder market is expected to grow during the forecast period.
North America to Spearhead Golf Rangefinder Market
The North America golf rangefinder market is likely to experience substantial growth during the forecast period due to the rising popularity of golf in the United States and Canada. The 29th of April is designated as ‘National Golf Day’ in the United States. Moreover, the continuance of the ‘WE ARE GOLF’ alliance in the United States since 2009 is projected to boost awareness about the product among consumers. This, in turn, will have a beneficial impact on the growth of the golf rangefinder market in the next years.
SkyHawke Technologies, Bushnell Corporation, LLC, ZEISS International, and Nikon Corporation are among the major manufacturers offering new products in the United States. For example, in September 2019, Bushnell Corporation introduced a new rangefinder with GPS and laser technology built-in, named the ‘Bushnell Hybrid Laser Rangefinder & GPS.’ The product is unique because it includes GPS and a laser display. Such factors are anticipated to boost the golf rangefinder market in North America.