Field Hockey Equipment Market: Overview
Field hockey is becoming an ever-popular sport due to its growing commercial profile, which is leading to growing televised coverage and a concurrent rise in the demand for field hockey equipment. Field hockey is popular across a widespread array of regions due to its simple appeal, and has become a lucrative commercial sector in recent years due to the growing interest of various demographics in sports activities. The growing television coverage of the sport is likely to drive popular interest in the coming years, leading to steady growth in demand from the global field hockey equipment market.
According to Transparency Market Research, the global field hockey equipment market is likely to rise from a valuation of around US$1.6 bn to close to US$1.8 bn over the 2017-2023 forecast period.
Institutional End Use Likely to Contribute Significantly
The field hockey equipment market is likely to benefit from the rising demand for field hockey equipment from individuals as well as institutions. Institutional use of field hockey equipment is likely to grow steadily in the coming years from across the world due to the growing realization of the utility of field hockey as a physical activity as well as a team bonding exercise. The global field hockey equipment market is thus likely to exhibit a steady growth trajectory in the coming years. Individual interest in field hockey is also likely to grow in the coming years, aided by the steady development of revenue generation opportunities in the field hockey sector, and thus drive the global field hockey equipment market.
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Rising Awareness of Cardiovascular Benefits Drives Interest in Field Hockey
Field hockey is one of the most physically demanding sports thanks to the stance and strength required of hockey players. This has become a key driving factor for the global field hockey equipment market, as a number of new players are getting interested in the sport due to its utility as an exercise. Enhancing one’s cardiovascular strength has become an important aspect of the physical conditioning regimes of many modern consumers, leading to sports such as field hockey receiving growing demand. This is likely to remain a key driver for the global field hockey equipment market in the coming years, particularly due to the growing incorporation of online and other modern shopping channels in the global market.
Rising Availability on Online Shopping Channels to Drive Demand for Field Hockey Equipment
The rising use of online shopping channels by modern consumers has led many leading players in the field hockey equipment market to make full use of this avenue. This has led to growing availability of field hockey equipment in online shopping avenues, making growth of the market likely in the coming years. Since field hockey equipment, unlike the equipment of many other sports, doesn’t need strict tailoring to personal measurements, it can be easily purchased on online shopping portals. The rising use of online shopping portals by modern consumers is thus likely to remain a key driver for the global field hockey equipment market in the coming years.
Europe, APEJ to Dominate Global Field Hockey Equipment Market
Geographically, Europe is the leading contributor to the global field hockey equipment market. The regional market is likely to rise to a valuation of US$675.4 mn by 2023. The Asia Pacific except Japan market for field hockey equipment is another key player in the global market’s dynamics, with a strong 2.2% CAGR expected to carry the market to a valuation of US$520.7 mn by 2023.
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Field Hockey Equipment Market: Competitive Dynamics
Leading players in the heavily fragmented global field hockey equipment market include Grays International, Mazon Hockey, Gryphon Hockey, Adidas AG, Osaka Hockey, OBO, and TK
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