Ice Hockey Equipment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.94 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | High |
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*Disclaimer: Major Players sorted in no particular order |
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Ice Hockey Equipment Market Analysis
The Global Ice Hockey Equipment Market is estimated at USD 1.91 billion in 2023. It is projected to reach USD 2.43 billion by 2028, growing at a CAGR of 4.94% during the forecast period (2023-2028).
The prominence of sports activities, owing to health and wellness trends, the increasing social media influence, celebrity endorsements, and the rise in international sports events encourage people to engage in sports activities. Also, the growing adoption of a healthy lifestyle and the preference for staying fit urged people to engage in various sports activities, including ice hockey, across all age groups. Such factors are expected to drive market growth during the study period.
Increasing government initiatives to encourage participation in ice hockey are dragging the consumers and players to invest their spending, a significant factor driving the market eventually. Protective wear occupied the largest market share in the past few years due to severe injuries such as head concussions, shoulder separation, and ankle sprains that are common in ice hockey. According to an article published in the British Journal of Sports Medicine, 39.8% of injuries were related to the head and face. As a result, CCM, one of the key manufacturers of ice hockey equipment, launched the Resistance Helmet, one of the most innovative ice hockey helmets in Canada.
Similar product launches to improve safety are anticipated to contribute to the market growth during the forecast period. Due to rising penetration of online shopping channels, most vendors are adopting online retail strategies to reduce costs and increase their margins, which is expected to benefit the market during the forecast period.
Ice Hockey Equipment Market Trends
Increasing Participation in Ice Hockey Competition
The demand for ice hockey has tremendously increased over the years. Ice hockey is one of the most popular sports worldwide, which is elevated due to the significant national and international platforms for competition. These platforms include the Olympic Games, World Championships, European Championships, Four Continents Championships, Grand Prix (Final), Challenger Series, World Team Trophy, and Universiade. It, in turn, provides immense opportunities for hockey equipment manufacturers to build their brand equity by offering sponsorships and endorsements to well-known players and clubs to gain a competitive advantage.
Moreover, increased government initiatives in various countries to improve sports participation have driven the market over the past few years. For instance, the US Department of Health and Human Services released the national youth sports strategy. It aims to increase youth participation in sports and physical activity. It is also the first national roadmap that outlines the steps to ensure that youngsters have the opportunity, motivation, and access to play sports, regardless of race, ethnicity, gender, ability, or ZIP code. It, in turn, will significantly increase sports popularity, especially among the youth, which is one of the primary reasons driving the market.
Asia-Pacific is the Fastest-Growing Market
Asia-Pacific is the fastest-growing region in the global ice hockey equipment market. China, Australia, and Japan are the top contributing countries in the region. Moreover, these countries have started hosting many international-level ice hockey tournaments, which, in turn, will increase the popularity and demand for ice hockey equipment. Asian Winter Games and the IIHF Ice Hockey Challenge Cup of Asia are some of the famous ice hockey tournaments in the region. In February 2022, the Chinese government launched an ambitious campaign to get 300 million people to play winter sports like ice hockey. Due to this initiative, China changed to host its first home Winter Olympics, propelling the market growth. Moreover, the global ice hockey market is emerging in India, with local authorities facilitating interested players by providing kits and assistance to bring out local talent and to represent the country in the World Championships.
Ice Hockey Equipment Industry Overview
The market studied is competitive due to the presence of several domestic and international players. Some key players are BAUER Hockey LLC, CCM Hockey, New Balance Inc., True Temper Sports, and Wm. T. Burnett & Co. Inc. (STX). The major-league companies are increasing their investments in research and development (R&D) and expanding their distribution channels to maintain their position in the market. Sustainable competitive advantage through innovation is high, as companies have witnessed significant sales growth by offering innovative products and effective marketing and distribution strategies. Due to this factor, key players differentiate their products in design, quality, weight, and size to gain a competitive advantage. Key players operating in the global ice hockey equipment are expanding rapidly in production capacity and manufacturing locations to gain a stronghold amidst robust product demands. For instance, in December 2021, Sport Maska Inc., owner of the CCM Hockey brand, announced the acquisition of Tournament Sports Marketing Inc., the owner of the Jackson Ultima and Atom brands. The strategic acquisition allowed them to expand their portfolio to everyone interested in skating. Sport Maska's product offering now caters to the needs of skaters, on and off the ice.
Ice Hockey Equipment Market Leaders
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BAUER Hockey, LLC
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New Balance, Inc. (Warrior Sports)
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Wm. T. Burnett & Co. Inc. (STX)
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CCM Hockey
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True Temper Sports
*Disclaimer: Major Players sorted in no particular order
Ice Hockey Equipment Market News
- October 2023: Sigmatex extended its partnership with CCM Hockey for more than 5-years. The company claims this partnership resulted in CCM as the official outfitter of the American Hockey League, the Canadian Hockey League, and various NCAA and National teams.
- October 2022: Bauer was set to release a stick under a new line called the AG5NT. The AG5NT is the lightest and quickest-release stick Bauer. Bauer focused on optimizing the stick's weight and durability. The Senior model weighs 335 g, 40 g more lightweight than the Hyperlite, and 30 g lighter than the Sync. This lighter build improved the stick's feel and increased the release speed.
- July 2022: Bauer expanded the Vapor line with a full array of Hyperlite protective gear in 2022. With three price points in the new Vapor gloves and Hyperlite models for shoulder pads, elbow pads, shin guards, and pants, players can experience the Hyperlite line's combination of super-lightweight feel and elite-level performance across their entire protective kit. These gloves feature a variety of Pro Lite Tex material with cable mesh, the new Defense Cloud Tech foam on the backhand, and a molded Shocklite backhand plate. These materials combine for a 25% lighter weight than the previous generation's.
Ice Hockey Equipment Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Market Drivers
- 4.1.1 Favorable Government Initiatives
- 4.1.2 Strong Focus on Infrastructure Developments
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4.2 Market Restraints
- 4.2.1 Consumers Shift Towards Video Games and E-Sports
- 4.2.2 High Injury and Accidents Rates
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4.3 Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Product Type
- 5.1.1 Ice Hockey Skates
- 5.1.2 Ice Hockey Sticks
- 5.1.3 Ice Hockey Protective Gear and Accessories
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5.2 Distribution Channel
- 5.2.1 Offline Retail Stores
- 5.2.2 Online Retail Stores
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Rest of North America
- 5.3.2 Europe
- 5.3.2.1 Russia
- 5.3.2.2 Finland
- 5.3.2.3 Sweden
- 5.3.2.4 Czech Republic
- 5.3.2.5 Switzerland
- 5.3.2.6 Germany
- 5.3.2.7 France
- 5.3.2.8 United Kingdom
- 5.3.2.9 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 Rest of Asia-Pacific
- 5.3.4 South America
- 5.3.5 Middle East & Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Strategies
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Bauer Hockey LLC
- 6.3.2 CCM Hockey
- 6.3.3 New Balance Inc. (Warrior Sports)
- 6.3.4 Wm. T. Burnett & Co. (STX)
- 6.3.5 Graf Skates AG
- 6.3.6 True Temper Sports Inc.
- 6.3.7 Vaughn Hockey
- 6.3.8 Sher-wood Hockey Inc.
- 6.3.9 Winnwell Inc.
- 6.3.10 Roller Derby Skate Corp.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Ice Hockey Equipment Industry Segmentation
Ice hockey equipment is used to facilitate the play and protect players from severe injuries. The global ice hockey equipment market is segmented by product type into ice hockey skates, sticks, and protective gear and accessories. By distribution channels, the market is segmented into offline and online retail stores. The study also covers the global analysis of the central regions of North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The market sizing has been done in value terms in USD for all the abovementioned segments.
| Product Type | Ice Hockey Skates | |
| Ice Hockey Sticks | ||
| Ice Hockey Protective Gear and Accessories | ||
| Distribution Channel | Offline Retail Stores | |
| Online Retail Stores | ||
| Geography | North America | United States |
| Canada | ||
| Rest of North America | ||
| Geography | Europe | Russia |
| Finland | ||
| Sweden | ||
| Czech Republic | ||
| Switzerland | ||
| Germany | ||
| France | ||
| United Kingdom | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| Rest of Asia-Pacific | ||
| Geography | South America | |
| Middle East & Africa |
Ice Hockey Equipment Market Research FAQs
What is the current Ice Hockey Equipment Market size?
The Ice Hockey Equipment Market is projected to register a CAGR of 4.94% during the forecast period (2024-2029)
Who are the key players in Ice Hockey Equipment Market?
BAUER Hockey, LLC, New Balance, Inc. (Warrior Sports), Wm. T. Burnett & Co. Inc. (STX) , CCM Hockey and True Temper Sports are the major companies operating in the Ice Hockey Equipment Market.
Which is the fastest growing region in Ice Hockey Equipment Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Ice Hockey Equipment Market?
In 2024, the Europe accounts for the largest market share in Ice Hockey Equipment Market.
What years does this Ice Hockey Equipment Market cover?
The report covers the Ice Hockey Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Ice Hockey Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the emerging trends in Ice Hockey Equipment technology?
The emerging trends in Ice Hockey Equipment technology are a) Lightweight materials b) Integration of wearable tech for performance data
Ice Hockey Equipment Industry Report
The Ice Hockey Equipment industry is witnessing remarkable growth, fueled by a surge in global participation and the expansion of ice hockey. This upswing is supported by the availability of synthetic ice rinks and the ease of access through online retail channels, enhancing consumer reach to essential gear like helmets, pads, and guards. These protective wears lead the market, underscored by a growing emphasis on player safety. Initiatives by governing bodies to promote the sport through programs and championships are further propelling the industry, alongside a notable shift towards online sales despite offline retail's dominance for personalized fittings. North America leads the market, with other regions rapidly catching up, due to investments in sports infrastructure. The industry benefits from technological advancements, increased sport accessibility, and a focus on safety and player development. For detailed insights, Mordor Intelligence™ offers comprehensive analysis and forecasts on market share, size, and revenue growth in their Ice Hockey Equipment market report, available for free PDF download.
