Golf grips are made of rubber and thermoplastics which helps to gain an optimal grip on the clubs for a more comfortable and accurate swing. The manufacturing process of golf grips involves designing different grips to handle various elements of dry and moist air. The increasing number of grip options has not made the manufacturing process complex; but manufacturers are focused on providing customized and personalized grips for different requirements.
The golf grips for putters and clubs come in a variety of options including camouflaged and two tone grips. Some of the larger grip companies have paid or endorsed professional golfers to play the clubs which is one of the important marketing efforts to drive consumers toward their brands.
Golf Grips Market –Competitive Landscape
Golf Pride was founded in 1949 and is a manufacturer and distributor of golf fittings and golf grips. It is now owned by Eaton and is one of the major revenue shareholder of the golf grip industry. More than 80% of tour professionals prefer the company’s golf grips. The company has invented slip-on grips, introduced a hybrid category of grips, and made advancements in Brushed Cotton Technology (BCT) in cord.
Lamkin Corporation was founded in 1925 and is involved in manufacturing handles for irons, woods and putters used by golf club manufacturers. The company’s product portfolio includes golf grips for maximum and comfortable performance, putter grips, specialty grips, and accessories. Its crossline golf grips are the most preferred golf grips for sweaty hands. The surface of these grips is tightly packed with designs which look like hashtags. This surface pattern provides the grip stability and lateral traction which are ideal for sweaty hands or rainy weather.
Winn was founded in 1977 and is a manufacturer of grips for both fishing and golfing. It manufactures grips of multiple polymer compounds. Its product portfolio is available for standard, midsize, and oversize grips. The polymer grips provide traction in rainy or sweaty conditions as the grip texture patterns feature X-marks, curved lines, and hexagons for optimal grip.
The golf grips business has been continuously involved and the OEMs are investing into product marketing as compared to investing in R&D and technological innovation. As for marketing, companies are creating their own content and are engaging/reaching consumers on social media and other platforms to make the business engaging. Continued pricing pressure from overseas competitors is expected to create stiff competition in the industry.
Some of the key industry participants of the global golf grips market include SuperStroke, TaylorMade, Iomic, Avon Grips, Boccieri, Integra, Odyssey, Sniper, Mizuno, Winn, Lamkin, Golf Pride, Iomic, Ping, and Karma.
Golf Grips Market – Dynamics
Golf continually expanding and encouraging new players
The equipment industry is the most commercially viable sector in the golf industry buoyed by clubs, balls, and other accessories. Golf is one of the largest recreational leisure sports after fishing and camping. According to Sports & Fitness Industry Association, equipment is crucial for golfing which is why more money is spent annually on clubs and its accessories than on equipment for baseball, basketball, and football combined. The golf grips industry has a healthy environment for equipment companies owing to longer life cycles and improved innovation in accessories.
Online sale of golf grips gaining prominence in the industry
E-commerce channels are providing consumers unprecedented access to golf equipment and its accessories. Growing importance of customization and personalization in the accessories segment for consumers is one of the major factors influencing the demand for golf grips. However, these channels are still challenging for consumers as they do not shortlist the equipment which is perceptibly better. Hence, OEMs are investing in different programs both in terms of consumer engagement and technology which is likely to improve the shopping experience of customers.