The ice hockey equipment market is projected to grow at an impressive CAGR of 6.4% in terms of value through the period of forecasting between 2020 and 2030. The report suggests that the growth of the market is majorly attributed to the rising popularity of the sport in developed economies and the subsequent demand for equipment. On the other hand, the unforeseen outbreak of COVID-19 has brought all sporting activities to an abrupt halt, thereby hindering the smooth growth trajectory of the market.
“Media, including films and TV shows, has been pivotal in building the popularity of ice hockey. As a growing number of individuals indulge in ice hockey as a recreational hobby or for physical exercise purposes, the rising popularity will continue to drive the demand for the equipment in the forthcoming years” says the Fact.MR report.
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Ice Hockey Equipment Market – Key Takeaways
Ice Hockey Equipment Market – Driving Factors
Ice Hockey Equipment Market – Constraints
Anticipated Market Impact by Coronavirus Outbreak
In the wake of COVID-19, several governments across the world have put non-essential activities on a hold, thus negatively impacting the sports sector. On this premise, numerous sports activities including ice hockey have been terminated. This has led to a steep decline in demand and the downtrend is expected to last through 2020. On the supply-side, factors such as halted productions, operations with a limited workforce, and supply chain disruptions have emerged as severe challenges to market players. On the back of these factors, uncertainty prevails over the complete revamp of the market.
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The key players operating in the ice hockey equipment market include, but not limited to, Don Simmons Sports, Inc., Sport Maska Inc., Montreal-Tackla Hockey Company, Easton Hockey, Inc., Bauer Hockey, Inc., Roces Srl, Franklin Sports Inc., Graf Skates AG, Sherwood Athletics Group Inc., and New Balance, Inc. Manufacturers are focusing on improving the safety coefficient of products while changing regulations continue to influence product designs.
More on the Report
The FACT.MR’s market research report provides in-depth insights into the ice hockey equipment market. The market is scrutinized on the basis of equipment (Ice skates, helmets, stick, protective gear, apparel, and others), buyer (individual, institutional, and promotional), sales channel (independent sports outlet, franchised sports outlet, ice hockey product store, modem trade channel, and online sales channel), across seven major regions (North America, Europe, East Asia, South Asia, Oceania, Latin America, and Middle East & Africa (MEA)).
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