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The ice hockey equipment market size is estimated to grow by USD 421.46 million at a CAGR of 5.08% between 2022 and 2027. The rising prominence, augmented by heightened merger and acquisition activities and a surge in tournaments, drives market growth. However, challenges persist, such as escalating material and manufacturing expenses, limited participation to specific nations, and a prevailing inclination towards field hockey.
A rising trend propelling the market forward is technological progress, particularly in response to the growing demand for these specialized tools. Manufacturers are now providing a variety of tailored choices to consumers, such as custom graphics, colors, and dimensions. Moreover, the market is witnessing growth as cutting-edge materials and technologies are introduced. Particularly noteworthy is the innovation by manufacturers in utilizing new shock-absorbing foams for helmets and lightweight yet durable composite materials for sticks. Companies are primarily concentrating on the development of full-faced mask helmets aimed at ensuring effective protection for athletes' faces and heads.
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This market report extensively covers market segmentation by Type (protective gear, skates, sticks, and others), Distribution Channel (offline and online), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 - 2021.
The market share growth by the protective gear segment will be significant during the forecast period. Protective gear segment dominated the market in 2022 in terms of market share. The demand for protective gear is being driven by the rising number of head and mouth injuries sustained during games.
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The protective gear segment was valued at USD 610.98 million in 2017 and continued to grow until 2021. Wearing protective equipment reduces the severity of injuries sustained during sport-related impacts and shields the wearer from further harm. The demand for protective equipment is increasing as this sport becomes more and more popular worldwide. Consumer interest in sports activities has increased as a result of rising health concerns and obesity, which has increased demand for sports equipment like protective gear. Additionally, the growth is being fueled by the rise in the number of tournaments and the resulting rise in demand for protective gear and other equipment during the forecast period.
An emerging trend driving the market is technological advancements, especially in response to the increasing demand for these specialized equipment. Manufacturers now offer players a range of personalized options, including custom graphics, colors, and sizes.
The market is expanding with the introduction of cutting-edge materials and technologies. Notably, manufacturers are innovating with new shock-absorbing foams for helmets and lightweight, strong composite materials for sticks. A primary focus for companies is developing full-faced mask helmets that effectively protect athletes' faces and heads. The rising demand for advanced products, including protective gear and skates, is anticipated to fuel the demand and consequently boost the growth in the forecast period.
Rising material and manufacturing costs present a major obstacle to the market. Advanced materials like Kevlar, carbon fiber, and plastics, crucial for producing protective gear, contribute to higher production expenses, often passed on to customers. The growing awareness of head injuries may drive demand for more protective equipment, further elevating costs and limiting affordability. Additionally, athletes exploring new technologies may reduce brand loyalty, requiring manufacturers to invest in research and development for competitiveness. These factors are anticipated to hinder the market during the forecast period.
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North America is estimated to contribute 67% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the growth during the forecast period.
In 2022, North America held the highest market share globally, driven by the extensive promotion, notably by the National Hockey League (NHL) and other broadcasting networks in the United States. Unlike field hockey, this sees significant promotion in the region. The popularity of video games in North America is expected to boost the demand for sports equipment. The United States dominates the market in North America, with Mexico and Canada also playing significant roles. The market is poised for growth in the region during the forecast period due to an increase in regular players and rising demand, especially among the younger generation.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence.
Formative Sports - The company offers a wide range of sports uniforms in the segment of basketball, hockey, and rugby along with sporting goods. The key offerings of the company include Supreme Match Skate, which is designed to boost stride length and maximize top-end speed while playing.
The market analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Ice Hockey Equipment Market offers a variety of products, including Ice Hockey Skates, Ice Hockey Sticks, and Ice Hockey Protective Gear and Accessories. These items are available through both offline and online retail stores, providing accessibility to consumers worldwide. Geographically, the market spans across North America, Europe, Asia-Pacific, South America, and the Middle East & Africa regions, showcasing the global reach and popularity of ice hockey. Each region presents unique opportunities for market growth, reflecting the diverse preferences and demands of ice hockey enthusiasts across the globe.
The market is witnessing significant growth driven by various factors such as government initiatives, increasing participation in ice hockey competitions, and rising awareness about the sport's health benefits. With the sport gaining popularity worldwide, manufacturers like CCM are playing a crucial role in providing high-quality hockey equipment, including resistance helmets designed to reduce the risk of injuries. Moreover, the availability of online shopping channels has made it easier for enthusiasts to access a wide range of ice hockey gear, further fueling market growth.
Ice hockey competitions, including the Olympic Games, World Championships, and European Championships, serve as platforms to showcase the sport's intensity and skill, driving demand for specialized equipment. Sponsorships and endorsements from renowned brands like New Balance Inc and CCM Hockey contribute to enhancing brand equity and promoting innovation in equipment design. Government initiatives, such as the National Youth Sports Strategy and support from organizations like the US Department of Health and Human Services, aim to promote healthy lifestyles and encourage youth participation in sports like ice hockey. These efforts, coupled with advancements in research and development, contribute to the development of sustainable competitive advantages for industry players. Overall, the industry continues to expand, driven by factors like sales growth, strategic distribution strategies, and technological innovations in materials like Pro Lite Tex Material and Defense Cloud Tech Foam, catering to the evolving needs of players and ensuring their safety on the ice.
The market is influenced by various factors, including social media influence and celebrity endorsements, which contribute to the sport's popularity. International sports events like the Winter Olympics and the IIHF Ice Hockey Challenge Cup of Asia serve as platforms for showcasing cutting-edge equipment from leading manufacturers like CCM. However, with the physical nature of the sport, concerns about ice hockey injuries persist, driving research and development efforts aimed at enhancing player safety. Companies like Atom Brands and Sigmatex are at the forefront of innovation, introducing advanced materials like Shocklite Backhand Plate, while tournament organizers like Tournament Sports Marketing Inc play a crucial role in segmenting the market and catering to diverse consumer needs. The market is witnessing robust growth with key players like CCM, a renowned hockey equipment manufacturer, leading the industry. International competitions such as the Four Continents Championships, Grand Prix, Challenger Series, and World Team Trophy continue to drive the demand for high-quality equipment. Additionally, events like the Universiade and Asian Winter Games contribute to market expansion. The involvement of governments, including the Chinese Government, in promoting ice hockey further propels market growth. With a focus on research and development (R&D), companies like AG5NT and Hyperlite are innovating products under the Vapor Line, meeting the diverse needs of players. This market exhibits promising segmentation, ensuring tailored solutions for players at all levels.
Ice Hockey Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
142 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.08% |
Market growth 2023-2027 |
USD 421.46 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.11 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 67% |
Key countries |
Canada, US, Finland, Russia, and Sweden |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
American Athletic Shoe and Co., Formative Sports, Huashen Rubber Co. Ltd., Jackson Ultima Skates, Janletic Sports, Lazerxtech Pvt Ltd., Marty Sports SA, RK Mahajan Exports, Roces Srl, Rubena Sro, Scapa Group plc, STX LLC, True Temper Sports, Vaughn Hockey, Venus Rubbers, BAUER Hockey LLC, GRAF SKATES AG, Sport Maska Inc., Warrior Sports, and Goodworth Sports |
Market dynamics |
Parent market analysis, market report, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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