In recent years, increasing popularity of ice hockey in the U.S. and Canada has been significantly influencing growth of the ice hockey equipment market. With an increase in disposable income of the majority of the population in these countries, the inclination towards the sports of ice hockey is expected to grow. Moreover, aspiring and affluent households have increased their spending on products and apparel for several outdoor sports such as ice hockey, thereby potentially raising the demand for ice hockey equipment.
As the focus on sports and recreational activities becomes strong worldwide, market players are eyeing potential opportunities in unexplored markets. Highly populous Asian countries, in particular, offer a huge customer base for leading manufacturers of ice hockey apparel and other equipment.
High adoption of digital marketing strategy and surge in number of online e-commerce platforms are opening up new avenues for the ice hockey equipment market growth. According to a new Fact.MR study, the ice hockey equipment market is poised to grow at a value CAGR of 6.5% and account for revenue worth US$ 1,650 Mn by 2030-end.
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Key Takeaways of Global Ice Hockey Equipment Market Study
- Ice hockey helmets are estimated to account for 40% share of the total market revenue in 2020, and gain 2000 BPS in its market share by 2030 over 2020.
- Institutional buyers for ice hockey equipment continues to influence growth strategies of market players, which are expected to contribute revenue worth US$ 410 Mn in 2020 and US$ 800Mn by 2030, growing at a CAGR of 7.0% during the forecast period.
- Sales of ice hockey equipment through online channel have registered a notable growth rate over the historical period. The segment is expected to record a CAGR of 6% and create an absolute $ opportunity of US$ 110Mn during the forecast period.
- North America’s ice hockey equipment market is projected to hold a prominent share of the global market value.
- The ice hockey equipment market in Europe is projected to register the highest growth rate in terms of value during the forecast period.
“Collaboration with ice hockey players and investments in leagues for brand promotion remain key focus areas of the market players as competition in ice hockey equipment market intensifies,” says the Fact.MR analyst.
Collaboration of Key Players with NHL Players Stands as Prime Strategy
Key players in the ice hockey equipment market are focusing on collaboration with National Hockey League (NHL) teams for promotion and branding of their products. Furthermore, companies are expanding their market reach with help of e-commerce and numerous digital platforms to reach their target customers. For instance, Bauer has collaborated with NHL players including Patrick Kane, Jack Eichel, Jonathan Toews, Aaron Ekblad, Dylan Larkin and Auston Matthews for the promotion of their sports equipment
Ice Hockey Equipment Market: Segmentation
Fact.MR has studied the ice hockey equipment market with detailed segmentation on the basis of equipment, buyer, sales channel, and key regions.
Equipment
- Ice Skates
- Helmets
- Stick
- Protective Gear
- Apparel
- Other
Buyer
- Individual
- Institutional
- Promotional
Sales Channel
- Independent Sports Outlet
- Franchised Sports Outlet
- Ice Hockey Product Stores
- Modem Trade Channel
- Online Sales Channel
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia& Oceania
- MEA