The global ice-skating equipment market size was valued at nearly USD 6.87 Bn in 2022 and is anticipated to reach USD 14.92 Bn by 2031, expanding at a CAGR of 9% during 2023 – 2031. The growth of the market is attributed to the increasing number of populations opting ice skating as a sport of leisure and thrill, growing disposable income in emerging and developed economies, and innovative technological advancements seen in the recent years.
Ice skating equipment are accessories used to navigate on frozen water. Ice skating is recreation and sport of gliding across an ice surface on blades fixed to the bottoms of shoes.
The activity of ice skating has given rise to two distinctive sports: figure skating, which involves the performance of various jumps, spins, and dance movements; and speed skating which is a form of racing on ice skates. Ice hockey is the best-known team sport that involves skating.
Ice skating can be done on specially created ice surfaces or arenas and on naturally present bodies of frozen water. Predominantly ice skating was majorly observed in snow clad regions but that has seen a shift in recent years with technological developments wherein artificial ice arenas are created for people to enjoy skating irrespective of whether they live in snowy regions or other parts of the world.
Ice skating equipment provide wearer all the necessary protection while gliding on the snow, it is considered very important to have good ice-skating equipment to avoid any harmful injuries.
Ice-Skating Equipment Market Trends, Drivers, Restraints, and Opportunities
- Growing popularity of ice-skating sports competitions globally is anticipated to drive the market growth during the forecast.
- Increasing ice skating arenas in shopping malls and sports complexes are major factors boosting the market expansion in the coming years.
- Rising disposable income in developing countries is expected to fuel the market growth during the forecast period.
- High cost of production and supply chain challenges are anticipated to impede the market growth.
- Lack of awareness among the consumers associated to various ice-skating equipment act as major factor that can hamper the market expansion during the forecast period.
- R&D investment and technological advancement in the ice-skating equipment market are estimated to create significant opportunities for the market players.
Scope of Ice Skating Equipment Market Report
The report on the global ice skating equipment market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Ice Skating Equipment Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Accessories, Apparels, Figure Skates, Hockey Skates, Racing Skates, Recreational Skates), Distribution Channels (Sporting Goods Retailers, Hypermarkets and Supermarkets, Department Stores, Online Retail Stores), Users (Professional users, Personal or recreational users, and Sports trainers)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Cougar, King Line, Rollerblade, ROCES, POWERSLIDE
Ice Skating Equipment Market Segment Insights
Recreational skate’s segment is projected to exhibit high growth rate
Based on the types, the ice skating equipment is segregated into accessories, apparels, figure skates, hockey skates, racing skates, recreational skates. Recreational skate’s segment is projected to exhibit high growth rate due to rising popularity of ice skating as a sport among the consumers worldwide. With advent of social media platforms, consumers are becoming aware of ice skating sport which is anticipated to spur the demand of recreational skates during the forecast period.
Online retail stores are projected to constitute key market share
Based on distribution channels, the ice skating equipment market is segmented into sporting goods retailers, hypermarkets and supermarkets, department stores, and online retail stores. Predominantly sporting goods retailers and supermarkets constituted for large market share among the distribution channels. However, online retail stores are projected to constitute key market share during the forecast period owing to rising popularity of ecommerce websites in the recent years.
Consumers get choice of selecting large number of brands and varieties of equipment through online retailers. Online spending has rose significantly, and growth opportunity for the sales of equipment through online channel have compelled many vendors to improve purchase processes in terms of security and reliability, which is expected to further spur the demand during the forecast period.
Personal or recreational users’ segment is expected to expand at a significant pace
On the basis of users, the market is divided into professional users, personal or recreational users, and sports trainers. Personal or recreational users’ segment is expected to expand at a significant pace due to the growing number of ice-skating arenas at shopping malls and sports complexes worldwide.
The creation of artificial ice-skating arenas has opened the possibilities of enjoying the sport irrespective of whether one lives in snowy regions or not, this factor is expected to contribute towards the expansion of market during the forecast period.
North America is expected to dominate the market
On the basis of regions, the ice skating equipment market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market at a healthy CAGR during the forecast period. The regional market growth can be attributed to the popularity of ice skating and the awareness among population about the equipment used.
On the other hand, Asia Pacific is expected to exhibit a rapid growth rate in the coming years owing to the sports aspirational popularity. Increasing number of countries in this region have started adopting the sport on an international level which is anticipated to fuel the demand for products in the coming years.
The global ice skating equipment market has been segmented on the basis of
- Figure Skates
- Hockey Skates
- Racing Skates
- Recreational Skates
- Sporting Goods Retailers
- Hypermarkets and Supermarkets
- Department Stores
- Online Retail Stores
- Professional users
- Personal or recreational users
- Sports trainers
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key players competing in the ice skating equipment market are Cougar, King Line, Rollerblade, ROCES, POWERSLIDE. Many of the key players have started adopting global strategies due to the rise in demand and popularity of sport in the recent years. The players operating in the market have been constantly involved in developing new innovative products to enhance their market share.
- For Instance, Rollerblade launched new product named POWERBLADE series in 2019 aimed at recreational consumers for all age groups in a bid to meet the growing demand in this segment.