Field Hockey Equipment Market Expected To Create Lucrative Opportunities For The Global Market

The field hockey equipment market is likely to exhibit rapid growth in the coming years thanks to the rising popularity of field hockey and the increasing number of urban users taking an interest in the sport. The increasing televised coverage of field hockey tournaments and the consequent rise in the demand to formalize field hockey leagues in several developing countries has led to significant demand from the global field hockey equipment market. The field hockey equipment is also likely to benefit from the rising adoption of online shopping channels by urban consumers, as it has made it increasingly easy for consumers to purchase field hockey equipment. While field hockey is still less popular than sports such as football, the growing commercial scope of the sport is likely to lead to strong growth of the field hockey equipment market in the coming years. The rising awareness about the benefits of cardiovascular exercise is also likely to drive interest in field hockey, thus driving the global field hockey equipment market.

According to Transparency Market Research, the global field hockey equipment market had a valuation of more than US$1.6 bn in 2017. Driven by the rising institutional adoption of field hockey, the global field hockey equipment market is likely to exhibit steady growth over the 2017-2022 forecast period and is expected to reach a valuation of close to US$1.8 bn.

Looking for exclusive market insights from business experts? Request a Sample Report

Global Field Hockey Equipment Market: Key Insights

Field hockey shoes are likely to remain the leading revenue generator for the global field hockey equipment market in the coming years. Shoes accounted for 47.9% of the global field hockey equipment market in 2017, the segment being valued at US$772.6 mn. The shoes segment is likely to exhibit a strong 2.3% CAGR over the forecast period, rising to a valuation of US$866.5 mn. The segment’s share in the global field hockey equipment market is expected to rise to 48.1% over the forecast period, driven by the consistent product development in the footwear sector and the increasing commercial scope of sports footwear.

Europe is the leading contributor to the global field hockey equipment market due to longstanding popularity of the sport in Central European countries such as Germany and the Netherlands. The Europe field hockey equipment market is expected to exhibit a steady 2.3% CAGR over the 2017-2022 forecast period and is expected to end up at a valuation of US$675.4 mn.