Global field hockey equipment market is projected to grow at a CAGR of 2.9% during the forecast period 2019-2024.
- Rising interest and participation rate in outdoor sports like Field Hockey, increasing government initiatives to encourage participation in field hockey, increasing televised coverage of international hockey events are some of the key factors driving the growth of the market.
- Mounting adoption of online shopping by consumers and rise in the number grassroots programs in schools, colleges, and clubs are some of the major factors driving the sales of field hockey equipment globally. However, easy availability of counterfeit products is restraining the growth of field hockey equipment market.
Scope of the Report
Global field hockey equipment market is segmented broadly covers product including hockey sticks & balls, hockey shoes, and protective gear & accessories. Further, the market also analyses the market revenue generated by online and offline distribution channels channels. By geography, the market is segmented by North America, Europe, Asia-Pacific, South America and Middle East and Africa.
Key Market Trends
Increase in Sales of Field Hockey Equipment through Online Stores
Sports specialty stores is the most popular distribution channels for the retail sales of field hockey equipment as large number of brands and product varieties among field hockey equipment are available. The growth opportunity for the sales of various sports equipment through online channel have forced online vendors to improve purchase processes in terms of security and reliability, which, in turn, has propelled the demand for these products. Some of the policies that encourage consumers to purchase online includes secured transactions, cash on delivery options, convenient return policies, integrated and centralized customer service. Most vendors are adopting online retail strategies to reduce cost and increase their profit margin, which is expected to drive the growth of the field hockey equipment market. Vendors such as Adidas Group, Gray Of Cambridge Ltd, GRYPHON HOCKEY, OBO, RITUAL HOCKEY, JDH, and TK Hockey Equipment Gmbh have strong presence in offline retail stores as well as online retail stores.
Asia-Pacific Registers the Highest Growth Rate
Asia-Pacific is the fastest growing region in the global field hockey equipment market. China, Australia, India, Pakistan, and South Korea are the top contributing countries in the region. Moreover, these countries have started hosting many international level field hockey tournaments, which, in turn is boosting the popularity and demand for field hockey equipment. For instance, India hosted 2018 Men’s World Cup. ASHF Asia Cup and Sultan Azhlan Shah Cup which are some of the other popular field hockey tournaments organized in Asia-Pacific. In addition there’s a rise in women’s participation rate and government initiatives that is likely boost the demand for field hockey equipment market in the region. However, the thriving counterfeit products market in Asia-Pacific, especially in China, has been affecting the field hockey equipment market in the region.
Global field hockey equipment market is highly fragmented market and comprises of many local and international competitors. There is an intense competition between the key vendors, leading to the introduction of newer field hockey equipment in the market. Major Key Players are Adidas Group, Gray of Cambridge Ltd, GRYPHON HOCKEY, OBO, TK Hockey Equipment Gmbh, OSAKA HOCKEY, Mazon Hockey, RITUAL HOCKEY, STX, Dita International BV, JDH, MALIK, and Princess Sportsgear.
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