“We need to figure out North America.”
That was the stock business development objective from most every Japanese equipment manufacturer circa 2017. Walking the floor that year at the annual PGA Merchandise Show (aka home of the $19 chicken wrap), it was clear that a) the United States is still the No. 1 market for golf equipment and b) every brand without a footprint in the U.S. was looking to create one.
On paper, getting into the U.S. market makes sense. Actually, it’s a no-brainer. According to a report from Allied Market Research, the global golf equipment market was valued at $7 billion in 2020 and is projected to crest $10 billion by 2030. Diving deeper, golf clubs accounted for nearly half that total in 2020, a scenario experts expect to continue.
Beyond that, North America has the highest current ($3.5 billion) and projected ($4.75 billion) revenue contribution to the market. Even a very small slice of a multi-billion-dollar pie is enough to satiate a small brand looking to carve out a permanent, albeit modest, seat at the table. Sidenote – When companies mention North America, it’s often with an implicit understanding that while the U.S. is the focal point of the region, Canada ($1.3B in 2021) and Mexico are extremely important markets as well.
Boutique brands such as Miura, EPON, Yonex, Yamaha, Vega, Fourteen, ONOFF, PRGR, and Honma, among others, seemed poised to make a run. Five years later, the North American landscape is largely devoid of a serious JDM (Japanese domestic market) equipment brand.
