Latest News- Hockey Equipment Market: Offline is expected to lead the Distribution Channel segment during 2024-2028

The Hockey Equipment Market is being driven by Increasing popularity of ice hockey

The Hockey Equipment Market is expected to grow at a CAGR of 6.91% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2.69 billion. The hockey equipment market is experiencing significant growth due to the increasing preference for personalized equipment among players. Manufacturers are catering to this demand by offering customized options, including custom graphics, colors, and sizing. Advanced materials and technologies are being incorporated into hockey equipment production, such as lightweight and durable composite materials for sticks and shock-absorbing foams for helmets. The rising demand for advanced protective gear and skates will fuel market growth during the forecast period. Key industry trends include the adoption of innovative technologies to enhance player performance and safety. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing popularity of ice hockey
• Increased merger and acquisition among hockey equipment vendors
• Growing number of hockey tournaments

However, the market also witnesses some limitations, which are as follows:

• Increasing cost of material and manufacturing of hockey equipment
• Market Saturation in developed regions
• Reduced consumer spending on non-essential items due to economic downturns or uncertainties

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Market Scope in Hockey Equipment Market Research Report

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Research Analysis Overview

The Hockey Equipment Market encompasses retailers of fan merchandise, providers of training programs, distributors of game tickets, and facilitators of customization. Brands focus on manufacturing gear for all positions, with safety and innovation at the forefront. Youth leagues and initiatives receive significant attention, with sponsorships and development programs. Online channels, 3D scanning, and comparison sites cater to various skill levels. Regulations ensure safety for players, including safety regulations for sticks and equipment. Women and kids' gear, defensemen training, and tournaments for professionals are also part of this vibrant industry's history and future.

Market Research Overview

The hockey equipment market is a significant segment of the global leisure products market, which falls under the larger umbrella of the global household durables market. This market encompasses various categories, such as sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-oriented games. According to Technavio, the global household durables market size is determined by the consolidated revenue generated by manufacturers of household durables, including consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. The growth of the global leisure products market is anticipated to be driven by the surge in health and fitness club memberships, which have experienced a consistent rise over the past decade. Additionally, the market expansion can be attributed to the increasing popularity of hockey at the international level, with the sport's inclusion in the Winter Olympics and the participation of international players. Furthermore, the proliferation of synthetic arenas has facilitated the growth of the market by enabling year-round hockey play.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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