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Ice Hockey Equipment Market 2024 - By Key Players, Regional Overview, Opportunities, Challenges And Outlook By 2033
Ice Hockey Equipment Market
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According to The Business Research Company's, The ice hockey equipment market size has grown steadily in recent years. It will grow from $1.62 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to sport popularity and participation, professional leagues' influence, demographic shifts, rising disposable income.
The ice hockey equipment market size is expected to see steady growth in the next few years. It will grow to $1.99 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to youth participation growth, international expansion, innovations in equipment design, female hockey growth, health and fitnes. Major trends in the forecast period include sustainability in equipment manufacturing, customization and personalization, technology integration in gear, focus on safety and injury prevention, fashion and style influence.
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Market Drivers and Trends:
The increasing participation of individuals in recreational sports is expected to propel the growth of the ice hockey equipment market going forward. Recreational sports refer to physical activities or games that individuals engage in for leisure, enjoyment, and relaxation rather than for competitive or professional purposes. Ice hockey equipment provides numerous benefits in recreational sports, contributing to players' overall safety, comfort, and performance, which is essential for creating a safe and enjoyable recreational sports environment. For instance, in March 2023, according to the Sports & Fitness Industry Association (SFIA), a US-based sports association, more than 76% of all Americans, or 236.9 million people, participated in at least one activity during the 2022 calendar year in the United States, a 1.9% increase from 2021. Additionally, more Americans participated in at least one sport, fitness exercise, or outdoor recreation activity in 2022 compared to five previous years. Therefore, the increasing participation in recreational sports drives the ice hockey equipment market.
Technological innovation is a key trend gaining popularity in the ice hockey equipment market. Major companies operating in the ice hockey equipment market are developing innovative products to sustain their position in the market. For instance, in October 2022, Bauer Hockey LLC., a US-based sports equipment company, launched the AG5NT stick. It is an innovative stick, the lightest and quickest from Bauer. It features XE taper technology and dynamic quick-release technology, designed to give players a quicker and more powerful shot. The AG5NT is made of boron fiber, a material pioneered in the aerospace industry that combines unparalleled strength, lightness, and torsion. It provides durability and strength and allows players to put more velocity behind their shots because of its exceptional stiffness and compression strength.
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Major Key Players of the Market:
Adidas AG, Canadian Tire Corporation, K2 Sports LLC, Franklin Sports Inc., True Temper Sports Inc., Riddell Inc., Bauer Hockey Inc., Warrior Sports Inc., Champro Sports, CCM Hockey AB, Superfeet Worldwide Inc., Sher-Wood Hockey Inc., Mazon Hockey International, Snipers Edge Hockey LLC, Winnwell Inc., STX LLC, Roces Srl, Grit Inc., Alkali Hockey LLC, All Black Hockey Sticks LLC, American Athletic Shoe Co. Inc., Flite Hockey Inc., Graf Skates AG, Inglasco Inc., Mylec Inc., NoSweat Co., Verbero Hockey Inc., Shock Doctor Inc., Jackson Ultima Skates Inc., Janletic Sports
Ice Hockey Equipment Market 2024 Key Insights:
• The ice hockey equipment market size is expected to see steady growth in the next few years. It will grow to $1.99 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%.
• Surge In Recreational Sports Participation Fuels Growth Of Ice Hockey Equipment Market
• Technological Leap In Ice Hockey Equipment Redefining Power And Performance For Players
• North America was the largest region in the ice hockey equipment market in 2023
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