LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global hockey equipment market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global popularity of ice and field hockey is currently witnessing a significant growth in the rate of participation. This is one of the key factors that is expected to fuel the market and directly impact the global hockey equipment market.
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The top three emerging market trends driving the global hockey equipment market according to Technavio research analysts are:
- Growth in participation rate of women in hockey
- Rising inclusion of new hockey tournaments every year
- Availability of customized hockey sticks
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Growth in participation rate of women in hockey
Field hockey is becoming increasingly popular, with more women joining the game every year. In 2015, the US had witnessed a major participation of over 65,000 high school and college women field hockey players. The country has several colleges that give scholarships only to women. In Canada, development programs for field hockey like the Long-Term Hockey Development program attract a lot of female participation. This is because Canada is aspiring to improve the ranking of its women's national team.
“Apart from field hockey, the female participation rate in ice hockey is also gaining momentum, especially in Canada. College ice hockey requires more than 2,100 female players every year. Hence, the chance of school girls playing in college competitions and nurturing a career is higher than male students. Such opportunities will encourage more women to join ice hockey in the US, which augurs well for the growth of the global hockey equipment market during the forecast period,” says Narendra Nandaigari, a lead analyst at Technavio for retail goods and services research.
Rising inclusion of new hockey tournaments every year
In 2014, the Champions Hockey League (CHL) was started by 26 clubs, six leagues, and the IIHF. In the first season of 2014-2015, the CHL had 44 participating clubs from 12 different European countries. In 2015-2016, participating clubs increased from 44 to 48.
In 2015, the National Women's Hockey League (NWHL), an American women's professional ice hockey league, was launched in the US. The NWHL is the first US women's hockey league that pays its players a maximum salary of USD 270,000 per team and a minimum of USD 10,000 per player. It has also got recognition by USA Hockey as the top women's professional league. Therefore, the introduction of such new and popular tournaments, especially in Europe and North America, is considered one of the key trends to boost the market during the forecast period.
Availability of customized hockey sticks
Customized products have always attracted consumers because they are manufactured per their requirements. The introduction of custom fit hockey sticks is an additional trend under the customized products section. Sometimes players buy sports equipment that does not fit their body type or style. Hence, they have to cut, sand, heat, and bend the sticks themselves to get the required size. Therefore, to overcome this issue, manufacturers are introducing custom fit hockey sticks in their manufacturing processes. These sticks come with precise specifications ranging from the blade curve to the shaft shape.
“Custom fit hockey sticks are lightweight and have stiff blades and shafts. They are tapered toward the blade, which, lowers the kick point. This innovation is expected to improve the performance of the hockey players. Most NHL players also use custom fit hockey sticks. Base Hockey and BAUER Hockey are the key competitors manufacturing custom fit hockey sticks,” says Narendra.
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