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The ice hockey equipment market size is estimated to grow at a CAGR of 5.08% between 2022 and 2027. The market size is forecast to increase by USD 421.46 million. The growth of the market depends on several factors, including the increasing popularity of ice hockey, increased mergers and acquisition, and the growing number of tournaments.
This ice hockey equipment 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 to 2021.
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The increasing popularity of ice hockey is notably driving the market growth, although factors such as increasing cost of material and manufacturing may impede the market growth. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing popularity of ice hockey is notably driving market growth. Ice hockey is growing in popularity, which is boosting equipment demand in new markets like Asia. By working together to create the Asia League Ice Hockey, Asian nations with winter seasons are gradually building a respectable ice hockey program. For the purpose of reaching consumers in these areas, manufacturers are expanding their distribution networks. The growing interest in winter sports, including ice hockey, has accompanied the expansion of the market globally. This interest has been stoked by rising international and national sporting events, increasing consumer awareness of health and fitness, and growing levels of sports participation.
With the popularity of online shopping, e-commerce has grown to be a significant channel for the sale of ice hockey equipment. To sell their goods directly to customers, many manufacturers have also created online marketplaces. As a result, the global market will experience growth due to the sport's rising popularity during the forecast period.
Technological advancements are an emerging trend influencing market growth. Ice hockey players have an increasing need for specialized equipment. Players can choose from a variety of personalized options from manufacturers, such as custom graphics, colors, and sizes. The market for ice hockey equipment has been expanding with regard to cutting-edge materials and technologies.
For instance, manufacturers are creating new shock-absorbing foams for helmets and new lightweight, strong composite materials for sticks. The vendors' main goal is to create full-faced mask helmets that can successfully shield an athlete's face and head. The demand for advanced products such as protective gear and skates will increase, driving up demand for ice hockey equipment and, in turn, driving up the growth of the global market during the forecast period.
The increasing cost of material and manufacturing is a major challenge impeding market growth. Advanced materials like Kevlar, carbon fiber, and plastics are needed for the production of ice hockey equipment, especially for protective gear like helmets, pads, and gloves. The costs of obtaining and producing these materials can be high, and the costs are frequently passed on to customers. Additionally, there might be a rise in the demand for better, more protective equipment as awareness of the dangers of head injuries and concussions in sports continues to spread. This might increase costs even more and make it more difficult for some customers to afford the newest, most cutting-edge equipment.
Furthermore, some athletes may prefer to switch to various brands or models of gear as new technologies and materials become available. Manufacturers may find it challenging to keep consumers loyal to their brands and may need to make new investments in R&D to remain competitive. Hence, such factors will hinder the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Ice Hockey Equipment Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
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 report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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 ice hockey 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, including ice hockey equipment like protective gear. Additionally, the growth of the global market is being fueled by the rise in the number of tournaments and the resulting rise in demand for protective gear and other ice hockey equipment 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 market during the forecast period.
North America dominated the global market with the highest market share in 2022. In contrast to field hockey, ice hockey is heavily promoted in the US by the National Hockey League (NHL) and other broadcasting networks, which is helping the growth of the global market. In North America, the popularity of video games is predicted to increase demand for sports equipment, including ice hockey equipment. While the US dominates the region in terms of ice hockey equipment, other significant nations there include Mexico and Canada. The market in North America is anticipated to grow over the course of the forecast period as a result of the rising number of frequent or regular players and the rising demand for ice hockey equipment, particularly among the younger generation.
In 2020, the outbreak of COVID-19 negatively impacted the regional market. However, in 2021, large-scale vaccination programs were initiated across the region, which led to removing lockdown restrictions. Owing to the removal of lockdown restrictions, the ice hockey equipment manufacturing units were reopened, which positively impacted the growth of the market. Also, supply chain activities were restarted, offline sales channels reopened, and the demand for ice hockey equipment resumed. Hence, such factors will boost the growth of the regional market during the forecast period.
The ice hockey equipment market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global ice hockey equipment market as a part of the global leisure products industry within the global household durables market. The parent market, the global leisure products market, covers a variety of categories, including sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-oriented games. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Ice Hockey Equipment Market Scope |
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Report Coverage |
Details |
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Page number |
142 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.08% |
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Market growth 2023-2027 |
USD 421.46 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.11 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 67% |
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Key countries |
Canada, US, Finland, Russia, and Sweden |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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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 |
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Market dynamics |
Parent market analysis, 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 the forecast period. |
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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. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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