Global Hockey Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hockey Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Ice hockey, game between two teams, each usually having six players, who wear skates and compete on an ice rink. The object is to propel a vulcanized rubber disk, the puck, past a goal line and into a net guarded by a goaltender, or goalie. With its speed and its frequent physical contact, ice hockey has become one of the most popular of international sports. In the game of hockey, players use specialized equipment to facilitate and protect the game, as it is a common injury sport. In addition to skates and hockey sticks, hockey players are typically equipped with a range of safety equipment to reduce the risk of serious injury. This typically includes helmets, shoulder/chest pads, elbow pads, mouth guards, protective gloves, weighted shorts, sports pads, shin guards and neck guards.

Market Overview:

The latest research study on the global Hockey market finds that the global Hockey market reached a value of USD 875.58 million in 2022. It’s expected that the market will achieve USD 1260.21 million by 2028, exhibiting a CAGR of 6.26% during the forecast period.

Influence of COVID-19 Outbreak on Hockey Industry Development

The epidemic has impacted the global sports industry, whether it be the production of sports equipment, sports sponsorship, or others. The impact of COVID-19 has led to the suspension and postponement of various events and sporting activities, and this includes hockey events. The cooling of the market has led to a decline in sales orders for hockey equipment companies. Supply chain disruptions have exacerbated business risks, and adequate cash flow has become extremely important.

Supply Chain Challenges

Considering SARS was over a decade ago, business continuity plans have been most recently challenged by geopolitical tensions in the form of tariffs and natural disasters. The sudden escalation of COVID-19 has demonstrated the cross-border vulnerability of supply chains, and the reactive nature of business continuity plans. The response of enterprises to the spread of coronavirus (COVID-19) has focused on securing their personnel and reviewing supply chains in an attempt to achieve some kind of business continuity. The ever-growing interconnectivity of markets has resulted in complex supply chains spanning jurisdictions and industries, which are currently being savaged by the residual effects of the virus. And as the markets are demonstrating, the economic effects are just beginning.

By taking into account high-level considerations such as the jurisdiction and criticality of supply chain links, along with the commensurate scope of due diligence to further understand risk, enterprises can start building the foundation for a dynamic supply chain in order to counteract the possible disruption.

The COVID-19 pandemic, as well as the geopolitical and natural disaster disruption, have demonstrated the debilitating potential based on supply chain concentration risk by jurisdiction.

Opportunities

Increasing initiatives by governments to increase sports participation have been playing a key role in driving the market over the past few years. Asia Pacific is expected to be the fastest growing region in the global hockey equipment market due to the low penetration of hockey. China, Australia, Japan, and South Korea are the largest contributors in the region. Moreover, these countries have started hosting many international level hockey tournaments, which in turn will increase the popularity and demand for hockey equipment. China, for example, as the world's most populous country, has begun to promote ice hockey from the top down. In 2019, the General Office of the CPC Central Committee, the State Council issued the Opinions on the 2022 Beijing Winter Olympics as an opportunity to vigorously develop ice and snow sports, including the vigorous popularization of mass ice and snow sports, widespread development of youth ice and snow sports, accelerate the development of ice and snow industry and other content. Large-scale international college hockey leagues, such as the
2019 International Collegiate Hockey League, are also held in China. Because of the good effect of hockey on the development of children's physique, character, spirit and will, it is valued by many Chinese middleclass families; moreover, because of its high cost and cool equipment, it also plays a certain psychological role of identity markers and social class segregation. Letting children enjoy ice hockey will help them better integrate into foreign cultures and build social communication and relationships overseas through sports.
Key players in global ice hockey equipment are rapidly expanding, both in terms of production capacity and manufacturing locations, to gain strongholds amidst strong demand for their products. Large companies are maintaining their presence in the market by increasing investments in research and development and expanding their distribution channels. Through innovation, sustainable competitive advantage is high as companies are witnessing considerable sales growth by offering innovative products and effective marketing and distribution strategies. Owing to this factor, key players are differentiating their products on the basis of design, quality, weight and size in order to gain competitive advantage.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

BAUER Hockey, LLC is one of the major players operating in the Hockey market, holding a share of 42.10% in 2020.

Bauer Hockey is the world's leading designer, developer, manufacturer and marketer of ice hockey equipment. The Company offers sticks, skates, pants, gloves, helmets, bags, and other accessories.

CCM Hockey is a Canadian brand of ice hockey equipment. CCM range of products for hockey includes sticks, skates, helmets, shoulder pads, elbow pads, goaltender masks, knee pads, throat collar and team uniforms.

Segmentation Overview:

Among different product types, Ice Hockey Protective Gear and Accessories segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Offline Retail Stores segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Hockey market covered in Chapter 3:

BAUER Hockey, LLC
Winnwell Inc.
TOUR HOCKEY
Sher-Wood Hockey Inc.
New Balance, Inc. (Warrior Sports)
Wm T. Burnett & Co., Inc. (STX)
American Athletic Shoe
CCM
Vaughn Hockey
Franklin Sports Inc.

In Chapter 4 and Chapter 14.2, on the basis of types, the Hockey market from 2018 to 2029 is primarily split into:

Ice Hockey Protective Gear and Accessories
Ice Hockey Skates
Ice Hockey Sticks

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hockey market from 2018 to 2029 covers:

Offline Retail Stores
Online Retail Stores

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)