The ice hockey stick market comprises products such as hockey sticks, hockey gloves, shoulder guards, helmets, skates, protective pads, pucks, nets, and other gears that are used while playing ice hockey. Ice hockey sticks are made using materials such as wood, aluminum, or carbon fiber/composite that provide strength and flexibility. The modern sticks are designed ergonomically to improve ball control and shooting accuracy. Ice hockey is a fast-paced contact team sport played on ice, usually in indoor or outdoor rinks. The objective is to score goals against the opposing team by hitting a puck with the stick into the opponent’s goal net.
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. Key players are focusing on innovative stick designs to enhance performance.
The growing interest in Ice Hockey Market Demand globally has increased the demand for ice hockey gear including sticks. Countries with cold climates have witnessed rising participation levels in ice hockey.
Ice hockey stick manufacturers are expanding their operations globally to penetrate new regional markets. Companies are also focusing on e-commerce channels for overseas sales.
Market key trends
The rising participation of females in ice hockey is driving the market trends. Several initiatives are being taken globally to promote ice hockey among girls and women. Lightweight ice hockey sticks designed specifically for women are gaining popularity. This emerging segment offers opportunities for industry players to launch new products tailored for female players.
Porter’s Analysis
Threat of new entrants: Low barrier for new hockey stick brands to enter but established brands have loyal customer base and economies of scale.
Bargaining power of buyers: Individual buyers have low bargaining power but commercial buyers like schools and teams have some negotiation power due to large volume purchases.
Bargaining power of suppliers: A few large raw material suppliers like carbon fiber and aluminum manufacturers dominate the market giving them strong bargaining power against hockey stick brands.
Threat of new substitutes: Other sports like field hockey, ice skating provide some competition but ice hockey remains a niche and loyal sport with no close substitutes for the hockey stick.
Competitive rivalry: Intense competition among established brands to attract customers through performance improvements, sponsorship of tournaments and teams. Price wars also common to gain market share.
The North American region, which includes the United States and Canada, holds the largest share of the global ice hockey stick market in terms of value. This is because ice hockey was invented and evolved in Canada and is hugely popular as a professional and amateur sport in both Canada and United States. Europe is the second largest market led by the Czech Republic, Finland, Sweden and other nations with a hockey tradition. Asia Pacific region is witnessing the fastest growth in the ice hockey stick market driven by increasing popularity of ice hockey in China, Japan and Australia along with government initiatives to promote winter sports.
The Asia Pacific region exclusing Japan is projected to experience the highest compound annual growth rate in the global ice hockey stick market during the forecast period from 2024 to 2031. Rising health awareness, improving standard of living, increasing winter sports infrastructure in emerging countries like China and India are contributing to boom in ice hockey participation in Asia. National hockey associations and global brands recognizing growth opportunity are also investing in hockey development programs, tournaments and retail expansion in Asia Pacific driving the market.