27-Sep-2022 | Zion Market Research
The hockey equipment market was worth around USD 11.5 billion in 2021 and is estimated to grow to about USD 15.1 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.7% over the forecast period. The report analyzes the hockey equipment market drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the hockey equipment market.
Ice hockey has seen a sharp rise in popularity over the years. One of the most popular sports is hockey. The significant national and international platforms offered for the competition have increased this sport's popularity.
Olympic Games, World Championships, Challenger Series, and World Team Trophy are a few of these platforms. As a result, there has never been a greater chance for hockey equipment makers to increase their brand equity by sponsoring and endorsing well-known athletes and teams in order to outperform their rivals. In addition, there have been more government initiatives in various nations aimed at increasing sports participation. In addition to establishing guidelines, the group coordinates a number of global marketing initiatives and projects.
In addition, IIHF offers coaching services to prepare prospective competitors for upcoming competitions. During the anticipated term, such measures are anticipated to boost market demand for hockey equipment.
The market for hockey equipment is segmented according to product type, sport type, distribution type, and region. The market is divided into sticks, protective equipment, footwear, and other categories based on the kind of product. The hockey equipment market is dominated by the sticks category, which is expected to expand significantly over the projected period.
Regular hockey players frequently replace their sticks in order to maintain peak performance, which is fueling this market segment's rapid expansion. The market will expand overall in the upcoming years thanks to ongoing improvements that generate lighter and stronger sticks. The market is split into hockey, roller hockey, hockey, and underwater hockey based on the type of sport.
The market is divided into two categories based on the method of distribution: online and offline. Offline retailers selling hockey equipment continue to be the most successful sales channel. New growth opportunities for hockey equipment companies are being opened up by consumer preference for buying hockey equipment through a variety of retail channels.
Given that hockey is Canada's national sport, North America accounted for the greatest market share in 2021. The United States, which holds the second-largest proportion of the global market for hockey equipment, is another country where the sport is particularly well-liked. Additionally, the concentration of major companies in the sector in this area is expected to boost sales during the forecast period.
Key players functioning in the global hockey equipment market include Adidas, Grays, Gryphon Hockey, OBO, TK Hockey, ATLAS Hockey, Dita, JDH, Kookaburra, MALIK, Mazon Hockey, Osaka Hockey, Princess Sportsgear, Ritual Hockey, STX.
Browse the full “Hockey Equipment Market by Product Type (Sticks, Protective Gear, Footwear, and Others), by Sports Type (Ice Hockey, Roller Hockey, Field Hockey, and Underwater Hockey), By Distribution Channel (Online and Offline), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/hockey-equipment-market
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