Ice Hockey Equipment Market Growth, Global Industry Share, Upcoming Trends, Revenue, CAGR Status, Business Challenges, Opportunities and Forecast Analysis till 2033: SPER Market Research
Ice hockey is a team sport in which two teams of skaters compete on an ice rink, using equipment such as a helmet, stick, skates, gloves, neck and chest protection, mouthguard, and leg, shin, and arm padding. Ice hockey equipment makes it easier to play the game while also protecting the players’ bodies from bruising and severe fractures. It protects the chest, ribs, abdominal nerve plexus, spine, and shoulders from flying pucks and crashes. It also guards the ginglymoid joint and arm bones against sticks, skates, and falls. It is generally available in a variety of materials, types, and styles, with customizing choices to match the needs of individuals.
According to SPER market research, ‘Ice Hockey Equipment Market Size- By Product Type, By Distribution, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Ice Hockey Equipment Market is estimated to reach USD 2.19 billion by 2033 with a CAGR of 5.34%.
The growing popularity of leisure sports and fitness activities, as well as the growing number of ice hockey facilities, are now driving global ice hockey equipment sales. Furthermore, growing knowledge of the benefits of playing sports such as ice hockey, which include improved focus and balance, weight management, bone and muscular strength, and mental health, is boosting market growth. In addition, the growing number of ice hockey clubs, associations, and institutions is driving up demand for ice hockey equipment. Aside from that, the equipment is readily available through local and online retail channels that offer a variety of secure payment methods. This, together with a growing e-commerce industry, is driving market expansion. Aside from this, considerable upgrades in sports infrastructure are expected to give a positive outlook for the business in subsequent years.
However, fluctuating raw material prices and a significant risk of injury may slow the market’s growth rate. The scarcity of ice rinks in many countries, combined with the threat of new entrants, would pose further challenges to the market throughout the forecast period given above. Furthermore, the market is highly competitive, with established brands up against emerging companies and new entrants. Manufacturers have a challenge in balancing affordability and cutting-edge technology while adhering to safety standards.
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Impact of COVID-19 on Global Ice Hockey Equipment Market
The COVID-19 pandemic had a significant impact on the global ice hockey equipment market. The widespread lockdowns, travel restrictions, and cancellation of sporting events caused a huge decline in demand for ice hockey equipment. Due to rink closures and the suspension of organized leagues, both amateur and professional players had fewer opportunities to participate in the sport, resulting in decreasing purchases of hockey equipment such as skates, sticks, protective gear, and apparel. Lockdowns and limitations affected manufacturing and supply chains, making it impossible to create and distribute equipment. Furthermore, the economic uncertainties posed by the outbreak prompted consumers to restrict discretionary spending, particularly on sports-related items.
Ice Hockey Equipment Market Key Players:
North America is expected to maintain its dominant position among other regions worldwide. Asia-Pacific is the world’s fastest-growing ice hockey equipment market. The market’s leading companies include American Garf Skates AG, Sher-Wood Hockey Inc. (Canadian Tire Corporation), STX (Wm T. Burnett & Co. Inc.), Athletic Shoe Company, Bauer Hockey LLC, CCM Hockey AB, Franklin Sports Inc., and True Temper Sport.
Ice Hockey Equipment Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Product Type: Based on the Product Type, Global Ice Hockey Equipment Market is segmented as; Protective Wear, Sticks, Skates, Others.
By Distribution Channel: Based on the Distribution Channel, Global Ice Hockey Equipment Market is segmented as; Online Retail Stores, Offline Retail Stores.
By End User: Based on the End User, Global Ice Hockey Equipment Market is segmented as; Individual, Institutional, Promotional.
By Region: This research also includes data for Asia-Pacific, Europe, the Middle East and Africa, North America, and Latin America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Ice Hockey Equipment Market Revenue
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