June 18, 2024
Ice Hockey Stick Market

Ice Hockey Stick Market estimated to exhibit high growth owing to rising popularity of hockey globally

The ice hockey stick market is the collection of products associated with ice hockey sticks including composite sticks, senior sticks and intermediate sticks. Ice hockey sticks are used by ice hockey players to pass, receive, shoot and control the puck on the ice rink. They are made of materials like wood, aluminum, composite or other durable plastic materials and consist of a long handle and a blade on one end.

The global ice hockey stick market is estimated to be valued at US$ 687.6 Mn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the ice hockey stick market are Mylec, Inc., Canadian Tire Corporation Limited, BISON HOCKEY STICKS, vaughn hockey, BAUER Hockey, LLC, Hans Raj Mahajan, ALFA Hockey, DRH Sports., Falk Hockey, Hyoung Carbon Fiber Products Co., Ltd, COLT Hockey, Rival Hockey, LM Hockey, RK Mahajan, Vinex Plastic.

The growing participation of women and youth in Ice Hockey Market Growth across North America and Europe is presenting key opportunities for industry players to launch innovative women’s and junior sticks. Furthermore, rising popularity of ice hockey tournaments like the Winter Olympics and ice hockey leagues is augmenting the demand.

Global expansion of ice hockey especially in countries like China, India and Pakistan is further driving the ice hockey stick market growth. Leading manufacturers are focusing on these emerging nations to tap new revenue streams.

Market drivers

The rising popularity of ice hockey globally especially in East Asia and South Asia regions is a major driver augmenting the ice hockey stick market growth. According to International Ice Hockey Federation, over 64 countries are affiliated to play ice hockey internationally. Furthermore, proliferation of ice hockey leagues like NHL, KHL, etc. and tournaments on television are increasing hockey’s popularity which is subsequently boosting the demand for ice hockey sticks. Secondly, continuous technological advancements in stick materials like fiber material, composites to produce lightweight, durable and high-performance sticks are encouraging sports enthusiasts to take up ice hockey. This is positively impacting the sales volumes.

PEST Analysis

Political: The growth of the ice hockey stick market is positively impacted by government initiatives to promote sports in schools and communities. Many governments sponsor amateur hockey leagues and programs.

Economic: Increased disposable incomes and popularity of ice hockey as a spectator sport is driving greater participation. However, high initial equipment costs can deter some potential new players.

Social: Ice hockey has a strong social and community experience. Leagues offer competitive and recreational options that appeal to a wide age range. Growing interest in health and wellness is increasing participation in ice sports.

Technological: Manufacturers continuously invest in research to develop lighter, stronger, and more durable stick materials like composites and hi-tech woods. Advances in stick engineering improve performance characteristics for players. Insertion technologies customize fit, feel and responsiveness.

Geographical regions where the market is concentrated in terms of value:

North America accounts for the largest share of the global ice hockey stick market currently. The popularity of ice hockey at both amateur and professional levels across US and Canada drives extensive demand for gear and equipment like sticks. Europe is another major regional market led by countries with strong hockey traditions like Russia, Sweden, Finland and Czech Republic.

The fastest growing region for the ice hockey stick market:

Asia Pacific is projected to experience the fastest growth in the ice hockey stick market during the forecast period. Rising interest in winter sports coupled with government initiatives to develop infrastructure in China, Japan and South Korea is expanding the player base. Commercial sponsorship is helping promote hockey in the region. Equipment manufacturers are targeting Asia to capture the potential of emerging markets.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it