According to a report by Fact.MR, the global ice hockey equipment market is expected to register a low CAGR during 2017 to 2022. Global sales of ice hockey equipment are expected reach roughly US$ 1,400 Mn in revenues by 2022-end.
Even though the market growth witnesses a slow pace, a rise in its expansion is estimated on the back of rules changed by the NHL. The NHL has made changes to length of the goalie’s leg pads for reducing their size, which in turn will prevent blocking of five hole between their legs. In the near future, it will be necessary for the ice hockey goalies to wear catch gloves, blockers, and chest guards, which will better suit their body sizes. The changes made by NHL in game rules will necessitate purchasing of new gears by goalies, and eliminate the use of the standard oversize equipment. This will result into the loss of current stock in the market.
Specialized equipment is used by ice hockey players for both facilitating their game play and for protection purposes, as ice hockey is a sport wherein injuries are common. This equipment is used by players for protecting their bodies from fractures and bruises. Helmet, neck guard, shoulder pads, elbow pads, hockey jersey, hockey gloves, hockey pants, jockstrap, shin guards, mouth guard, and ice skate are the products that come under the purview of ice hockey equipment.
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The NHL has recently made changes to the length of goalie’s leg pads, reducing their size in order to prevent obstruction of the five hole between legs. Goalies will need to wear equipment such as blockers, catch gloves, and chest guards, which better suit their body sizes. Changing rules of the protective goalie gear is a major factor influencing growth of the global ice hockey equipment market. The changes made in the rules will make goalies to purchase gears that match their body sizes, instead of using the existing standard oversize equipment, which in turn will lead to a loss in current stock available in the market. Over the past few years, several vendors have been making innovations in helmets for protecting players from concussions. Leading vendors such as Performance Sports Group and Adidas have therefore commenced launching new helmets made of flexible materials, which have fluid-filled bladders for preventing injuries to the head of the ice hockey player. Owing to the abilities of these helmets, their adoption will witness a tremendous surge in the upcoming years. Vendors have been exploring new opportunities across developing economies of Asia, and Europe. Some of the major vendors are also adopting various marketing strategies for increasing their market share. As the market for ice hockey equipment is witnessing a number of changes, a stagnant growth has been estimated for the global ice hockey equipment market by a report of Fact.MR, during the forecast period 2017 to 2022. Revenues from the market are projected to reach nearly US$ 1,400 Mn by 2022-end.
North America will remain dominant in the global market for ice hockey equipment, in terms of revenues. The market in Europe, on the other hand, is expected to create an absolute $ opportunity of US$ 24.7 Mn during 2017 to 2022. The market in Middle East and Africa (MEA) will continue to exhibit a sluggish expansion through 2022.
Ice skates will continue to be the most lucrative product in the global ice hockey equipment market, with sales estimated to account for approximately US$ 470 Mn revenues by 2022-end. Sales of skating helmets are expected to reflect the highest CAGR in the market through 2022.
On the basis of end-user, individual segment is projected to account for the largest revenue share of the market, followed by institutional segment. Online sales channel are expected to register the fastest expansion in the global ice hockey equipment market during the forecast period. Sales of ice hockey equipment in direct to customer brand outlets, and franchised sports outlets will exhibit similar CAGRs through 2022, franchised sports outlets being more lucrative than direct to customer brand outlets.
Key players listed in Fact.MR’s report include New Balance, Inc., Sherwood Athletics Group Inc., Graf Skates AG, Franklin Sports Inc., Roces Srl, Bauer Hockey, Inc., Easton Hockey, Inc., Montreal-Tackla Hockey Company, Sport Maska Inc., and Don Simmons Sports, Inc.
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