Global Field Hockey Equipment Market- Industry Analysis and Forecast (2020-2027)
Global Field Hockey Equipment Market was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of XX % during a forecast period.
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Field hockey is a global sport, which is played in over 100 different countries. Sports are inspiring, immersive, and a rapidly growing industry worldwide. Currently, sports is an active platform for marketing and creating branding opportunities for corporates, who are investing in sports. It also creating interest, affection and value for fans across the globe. A Field Hockey is a major investment, which is important to meet the expectation of the hockey players, associations and clubs.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Global Field Hockey Equipment Market Dynamics:
The rise in the number of female viewership, recognition of ‘rurban’ sports and digital on-the-go sports consumption are some of the driving factors. Additionally, an increase in the interest and participation rate in outdoor sports like field hockey, and live coverage of international hockey events worldwide are also boosting the growth in the global field hockey equipment market.
The government initiatives to cheer up participation in field hockey is also propelling the market. The International Hockey Federation is the governing body of this sport, which manages and develops international field hockey tournaments. The Euro Hockey League is considered to be the major professional league in the world.
An introduction of lightweight field hockey sticks, which are made of carbon fiber, glass fiber, and aramid is one of the key innovations introduced in the market. These materials allow the stick to be lighter and stronger over the wooden stick. Some of the prominent key players are also introducing the tracking technology to recognize the playing patterns of field hockey teams. The tracking technologies providing the data about the playing style and also compare the performance of individual players.
On the other hand, the lack of sports culture coupled with insufficient public resources and the availability of counterfeit products is expected to limit the growth in the global field hockey equipment market.
Global Field Hockey Equipment Market Segment Insight:
Field hockey is becoming gradually popular across the globe with the rise in a number of the participation of the women in the game every year. In 2018, the US had witnessed major participation of over 64,000 high school and college women in the hockey sport. The regular players frequently change the sticks to maintain optimum performance, which is expected to increase the continuous innovations in the production of the sticks. A regular player changes two to three sticks in a year because of the damaged sticks, which is increasing the adoption of the new sticks. Some of the key innovations to produce lighter and stronger sticks is expected to drive the segment growth. The sticks segment is expected to contribute US$ XX Mn share in the global field hockey equipment market. The use of high-tech hockey sticks of superior technology is currently in trend.
Most vendors in the market are adopting online retail strategies to reduce costs and increase their profit margin. Many key players are offering some of the policies, which encourages the consumers to purchase online through secured transactions, cash on delivery options, suitable return policies, and centralized customer service. The Institutional segment of field hockey equipment is expected to grow at a XX % rate of CAGR during the forecast period because of the rise in the realization of the utility of field hockey as physical activity.
Region-wise, the Asia Pacific region is projected to be the leading region in the global field hockey equipment market during the forecast period. The leading position in the market can be attributed to the presence of the top contributing countries like China, Australia, India, Pakistan, and South Korea. The developing countries have started introducing many international level field hockey tournaments is boosting the popularity and demand for field hockey equipment in the region(for instance, in 2018, India hosted the Men’s World Cup).
The global field hockey equipment market is experiencing significant growth by the presence of some of the prominent key players like Adidas, Grays, Gryphon, OBO, and TK Hockey. Additionally, many key players are sponsoring top players and national teams, who played major tournaments like hockey world championships and the Olympics.
The objective of the report is to present a comprehensive analysis of Global Field Hockey Equipment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Field Hockey Equipment Market dynamics, structure by analysing the market segments and project the Global Field Hockey Equipment Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Field Hockey Equipment Market make the report investor’s guide.
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The Scope of the Report for Global Field Hockey Equipment Market: Inquire before buying
Global Field Hockey Equipment Market, By Product Type
• Hockey Stick
• Helmets
• Shin Guards
• Shoes
• Protective Gears
• Other
Global Field Hockey Equipment Market, By Sales Channel
• Specialty and Sports Shops
• Department and Discount Stores
• Online Retail
• Other
Global Field Hockey Equipment Market, By End User
• Individual
• Institutional
• Promotional
Global Field Hockey Equipment Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Field Hockey Equipment Market
• Adidas
• Grays
• JDH
• Kookaburra
• MALIK
• Gryphon Hockey
• Princess Sportsgear
• Ritual Hockey
• OBO
• TK Hockey
• STX
• ATLAS Hockey
• Dita
• Mazon Hockey
• Osaka Hockey
• JDH
• Harrow Sports
• Hockey Gear Review
• Sports Unlimited
• LaxWorld.com
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