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Rockville, MD , July 25, 2018 (GLOBE NEWSWIRE) -- 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.
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Over the recent past, a number of vendors have been concentrating on innovations in helmets, so as to provide players with protection from concussions. Major vendors including Adidas, and Performance Sports Group, have begun launching new versions of helmets, making the older versions obsolete. These new versions of helmets are made from flexible materials with fluid-filled bladders to prevent ice hockey players from head injuries. Adoption of these helmets will witness a rise in the near future, owing to their enhanced abilities. New opportunities are being explored by vendors in developing countries of Europe, and Asia, and these vendors are adopting multiple strategies for increasing their presence in the market. These factors will bring a promising change in the growth of the market.
4 Key Insights on Future of Global Ice Hockey Equipment Market
1- Based on end-users, 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.
2- Online sales channel will exhibit the highest CAGR in the market through 2022. Ice hockey equipment sales in franchised sports outlet, and direct to customer brand outlet are expected to exhibit a parallel expansion at similar CAGRs through 2022. Franchised sports outlet are expected to remain comparatively more lucrative than direct to customer brand outlet over the forecast period.
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3- Ice skates are expected to remain the most attractive product in the global ice hockey equipment market. Sales of ice skates are anticipated to reach nearly US$ 470 Mn in revenues by 2022-end. In addition, sales of skating helmets will exhibit the fastest expansion in the market through 2022.
4- The ice hockey equipment market in the Middle East & Africa (MEA) is expected to witness a sluggish expansion during 2017 to 2022. Europe’s ice hockey equipment market will create absolute dollar opportunity of around US$ 25 Mn between 2017 and 2022. North America will continue to be the largest market for ice hockey equipment, in terms of revenues.
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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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.