A Look into Ice Hockey Equipment Industry……Deep Analysis…..


The global ice hockey equipment market size is expected to reach USD 1.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.2% over the forecast period. The market is expected to witness significant growth due to increase in participation rate, which is attributed to rise in availability of synthetic ice rinks.
The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe, given the rising popularity of online/e-commerce sales. From a manufacturing standpoint, the sustainable or ethical fashion trend is expected to favor market growth throughout the forecast timeframe. Luxury apparel is another lucrative space for prospective manufacturers to target, given the mushrooming number of affluent and fashion-conscious consumers across the globe. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.
Protective wear occupied the largest market share in 2018 owing to the nature of the sport. Serious injuries such as head concussions, shoulder separation, and ankle sprains are common in this sport. According to an article published in the British Journal of Sports Medicine, 39.8% of the injuries were related to head and face. As a result, CCM, one of the key manufacturers of ice hockey equipment, launched the Resistance Helmet, which is considered to be one of the most innovative ice hockey helmets in Canada. Similar product launches to improve the safety are anticipated to contribute to the growth of the market during the forecast period.
Offline sales accounted for the largest market share in 2018. Players prefer to check the quality and specifications of the equipment before completing the purchase. Leveraging this preference, Pure Hockey, one of the largest hockey retailers in U.S. acquired Bauer Hockey’s “Own the Moment” retail stores. With this acquisition, Pure Hockey now operates in 53 locations across U.S.
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Such sports specialty stores are anticipated to generate offline sales during the forecast period. Growth of the e-commerce industry is expected to drive online sales with a CAGR of 4.2%. Customer reviews, secure payment transactions, doorstep delivery, and suitable return policies are some of the features driving online sales.
Further key findings from the study suggest:
·         By product type, the sticks segment is expected to ascend at a CAGR of 3.4% owing to the short shelf life of ice hockey sticks and frequency of play
·         The global ice hockey equipment market is highly concentrated with a few players such as Bauer, CCM, Easton, and Sher-Wood
·         In 2017, Adidas sold its CCM hockey business segment to Birch Hill Equity Partners due to decrease in market share of CCM.
North America held the largest market share in 2018 as ice hockey is the national sport in Canada. The sport is also very popular in U.S., which accounted for the second largest share in the global ice hockey equipment market. Moreover, presence of key players of the industry is concentrated in this region, which is anticipated to drive sales during the forecast period.
Rest of the world is anticipated to witness the fastest growth in this market. Major attributes contributing to the growth are increasing popularity of ice hockey owing to various initiatives taken by the International Ice Hockey Federation (IIHF). In 2019, 12 Asian countries are being represented in the IIHF World Championship program. The CIS region is also anticipated to witness substantial growth on account of increasing participation in countries like Russia and Belarus.
In April 2013, Bauer launched BAUER OD1N product line that included innovative hockey skate, a fully personalized protective body suit, and an ultra-lightweight, customized goal pad constructed with unique materials, which were not previously used in the construction. This product line was aimed at expanding the product portfolio and improving the company’s performance in the market.
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Grand View Research has segmented the global ice hockey equipment market on the basis of product type, distribution channel:
Ice Hockey Equipment Product Type Outlook (Revenue, USD Million, 2015 - 2025)
·         Protective Wear
·         Sticks
·         Skates
·         Other
Ice Hockey Equipment Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
·         Online
·         Offline
National Hockey League is one of the major professional sports leagues in countries such as U.S. and Canada. In term of revenue, NHL ranks fifth among professional sports leagues in the world. Many similar major championships have been started to promote the sport. For instance, junior level championships and age-specific championships are organized to encourage the youth to play ice hockey. In the 2018 IIHF championships, almost 70% of the registered Canadian players were under the age of 20. This is expected to increase the number of players in the sport, thereby propelling ice hockey equipment market growth in the next few years.
Increasing participation of women in ice hockey championships is an additional factor positively influencing the growth of the market. According to the IIHF, the number of registered female players across the globe increased from 153,665 to 205,674 from 2007 to 2018. Women participation is increasing in major countries like Canada and U.S. According to the survey published on the IIHF website, out of 637,000 registered players, 88,500 were female players. This increase in participation rate is anticipated to fuel market growth during the forecast period.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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