Ken Research announced its latest publication on “India Golf Industry Outlook to 2020 – Growth in Golf Based Real Estate Projects and Golfers Population to Aid Market Growth” which provides a comprehensive analysis of Golf Industry in India. The report initially showcases the valuation of Golf economy in India through direct and indirect measures. The report provides detail insights on every cluster related to Golf Industry such as Golf Course Construction, Golf Course Real Estate Projects, Golf Course Related Equipments, Golf Course Maintenance Equipments, Golf Tourism and Golf Tournaments and Endorsements. The report provides future analysis and outlook for the overall sector and for each cluster as well. It also covers proposed recommendations for the government that has to be taken to support market growth in the near future. The report is useful for Golf Tourist Companies, Golf Maintenance and Equipment manufacturers, Golf Related Equipment suppliers, Golf Courses, Golf Real Estate Developers, Golf Course Construction Companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
Golf Course Development: Real Estate golf properties continue to be popular, but they are changing to smaller 9 holes or par 3 courses. This will help bring children and new golfers in as it makes the game seem much more accessible. In the future, the real estate developers will look forward to make golf as an integral part of the residential projects, which is anticipated to enhance the premium that can be realized from golf based real estate projects. The development of public golf courses and driving ranges in the near future will propel more investments in the future.
Golf Tournaments and Endorsements: The future for golf tournaments and endorsements portrays enormous potential in the coming years. Indian Golf Union, PGTI and WGAI are taking enough initiatives to organize more number of professional and amateur tournaments in India. Currently, the television viewership for golf in India is very limited. However, the joy of watching golf on television is likely to increase due to return of golf in Olympics and arrangement of few major professional golf tournaments which is anticipated to draw attention of television viewers in India.
Golf Equipments: Inclusion of golf in the 2016 Olympics is expected to have major impact on the golf equipment market in India as manufacturers will try to leverage the popularity of the event and conduct promotional sales. The event is also seen as a major ground for acquiring new customers by major retailers. Increasing per capita income coupled with growing middle class population in India will aid the market growth in the near future. Additionally, higher brand awareness and greater impetus to the gaming etiquette will lead golfers to purchase branded apparels and golfing accessories instead of putting on generic wearable. International golf apparel and footwear brands such as Callaway and TaylorMade are looking forward to capitalize on the lifestyle spell of the Indian consumers towards golf related accessories. Over the past few years, the golf equipment market has witnessed several fake golf goods particularly, golf clubs, which has hampered golf manufacturers’ growth and brand value among golfers in the Indian market. Majority of the fake products are imported from China and Japan. This trend is projected to be a major bottleneck for the equipment market. .” according to the Research Analyst Ken research.
Golf Tourism: Sports tourism is gaining interest in India, especially after the Commonwealth games being organized in India. Golf, in context with this is also gaining traction among foreign tourists since India encompasses with several golf courses of International standards. Golf as a sport is getting more serious after the inclusion of golf in Olympics. This will definitely revitalize the image of golf in India in the near future.
Golf Maintenance Equipments: The future for golf course maintenance equipments market in India poses a bright opportunity in terms of sales revenues. In the coming years, it is believed that the existing golf courses will always keep renewing their fleet for maintenance equipments. Usually the replacement period for maintenance equipments tends to be 4-5 years, which is anticipated to reduce to 3 years in the outlook period. Although, the replacement demand is not that large, but it certainly provides a source of constant demand.
Globally, the most beautiful golf courses are located at the sea shore namely Pebble Beach Golf course, Cypress Point, Fishers Island and others. India currently does not even have a single golf course which is connected to the sea. Hence, the government should incentivize developers and golf course construction companies to develop golf courses near sea.” according to the Research Analyst Ken research.