Ice Hockey Sticks Market is Set to Account for US$ 450.8 Mn Revenue by Year 2031 end Says Transparency Market Research

WILMINGTON, DE / ACCESSWIRE / April 17, 2023 / Transparency Market Research Inc. - The global ice hockey sticks market was valued at US$ 320.1 Mn in 2022 and is anticipated to reach US$ 450.8 Mn by 2031. The global industry is expected to expand at a CAGR of 4% during the forecast period between 2023 and 2031. Demand for ice hockey sticks is increasing due to rise in consumer interest in athletic and sporting activities.

Leading producers of ice hockey sticks are emphasizing on innovations and customization in hockey sticks. Modern ice hockey sticks can bend significantly more than earlier sticks, which saves a significant amount of energy whenever the blade makes contact with the puck.

Producers are also spending significantly on advertising and running promotional activities and campaigns to boost ice hockey stick sales in developing countries. The puck is moved around the ice by shooting, passing, and using an ice hockey stick. These sticks are made to fit the size and preference of a specific player; hence, the dimensions of the stick vary greatly.

Hockey paddles, player sticks, and goalie sticks are just a few types of the various ice hockey sticks that can be made utilizing composite technology and various materials such as aluminum, wood, fiberglass, and carbon fiber. According to this market report on ice hockey sticks, carbon fiber hockey sticks are among the most popular when it comes to material.

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Market Snapshot:

Key Findings of Market Report

• Based on material, the carbon fiber sticks segment is anticipated to account for the largest market share between 2023 and 2031. As it is light, rigid, and has high tensile strength, carbon fiber has an edge over other materials. Hockey sticks greatly benefit from the addition of carbon when used properly since it helps produce high velocity balls.
• Based on end-user, the adults segment is anticipated to dominate the global market during the forecast period. As people are increasingly concerned with their well-being and physical fitness, ice hockey has recently gained popularity among adults. Considerable physical health advantages come from playing ice hockey. Exercise encourages the release of endorphins, which fight anxiety, depression, and tension.

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Global Ice Hockey Sticks Market: Growth Drivers

• Demand for and interest in the sport of ice hockey have increased significantly in the past few years at the global level. Ice hockey is a favored sport in industrialized countries, including Europe and North America.
• The Olympic Games, the European Championships, and the World Ice Hockey Championship are just some of the growing number of ice hockey competitions that are fueling the sport's rapid advancement. This is likely to increase market demand for ice hockey sticks across the world during the forecast period.
• Different initiatives have been undertaken by government agencies in a number of developed and developing countries to boost the number of people engaging in sports to promote physical health. Physical inactivity or a lack of physical activity is the fourth most important risk factor for mortality across the world, as per the WHO (World Health Organization), and it causes 6% of fatalities.

Global Ice Hockey Sticks Market: Regional Landscape

• North America is expected to dominate the global industry during the forecast period. Since customers in the region are likely to engage in fitness and sporting activities, the region is projected to have the fastest-expanding ice hockey stick market.
• Furthermore, the world's fastest-growing economies are concentrated in this area. Several companies are focused on improving product quality and performance, which is expected to drive market development in the region.
• According to recent market trends, Europe and Asia Pacific are expected to be prominent markets in the near future. Sales of ice hockey sticks are anticipated to rise, as the number of skilled players and sportsmen increases in Germany, Japan, and China.

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Global Ice Hockey Sticks Market: Key Players

• Bison Hockey Sticks
• BAUER Hockey LLC
• True Temper Sports
• Pro Stock Hockey
• Sport Maska Inc.
• Frontier Hockey

Global Ice Hockey Sticks Market: Segmentation

Type

• Player Sticks
• Goalie Sticks

Material

• Carbon Fiber Sticks
• Fiberglass Sticks
• Wooden Sticks
• Others (Aluminum Sticks etc.)

Price

• Up to US$ 25
• US$ 25-US$ 50
• Above US$ 50

End-user

• Adults
• Kids

Distribution Channel

• Online
• Offline

Regions

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

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SOURCE: Transparency Market Research inc.