Latest report published by Fact.MR, a market research and competitive intelligence provider, projects that sales of ice skating equipment will likely increase at a CAGR of 4% from 2021-2031, reaching a market valuation of US$ 1.2 Bn by 2031.
Innovations in equipment used in ice skating and exercise and health benefits derived from ice skating are having a positive impact on the sales of ice skating equipment.
Various government organizations have aided global market growth by ensuring sports education, providing incentives and subsidies to athletes, and arranging numerous sporting events. Safety precautions such as helmets and appropriate clothing are necessary in order to avoid hazards. Artificial arenas have been developed for ice skating for people who are at long distances from natural ice-clad regions.
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Key Takeaways from Market Study
- Global ice skating equipment market to top US$ 1.2 Bn by 2031.
- Hockey skates projected to reach around US$ 550 Mn by 2031.
- Figure skates projected to record above 5% CAGR over next 10 years.
- Market in North America holds share of more than 50%.
- Market in Japan expected to reach valuation of US$ 60 Mn by 2031.
- Market in Australia to record 3% CAGR over forecast period of 2021- 2031.
“With rising health and fitness awareness, the number of people participating in sports, including ice skating is also expanding. Individuals who desire to stay in shape are actively participating in sporting activities; this rate of participation is projected to boost ice skating equipment sales over the coming years,” says a Fact.MR analyst.
Major league firms in the ice skating equipment market are increasing their research & development (R&D) investments and expanding their distribution channels to maintain their market position.
Companies have seen tremendous sales growth by supplying innovative products combined with excellent marketing and distribution methods, resulting in a high level of sustainable competitive advantage through innovation.
Ice skating equipment manufacturers are also taking steps to expand their distribution networks to reach newer regional markets.
Key Segments Covered in Ice Skating Equipment Industry Research
- Ice Figure Skates
- Ice Hockey Skates
- Ice Racing Skates
- Recreational Ice Skates
- Ice Skating Apparels
- Ice Skating Protection Accessories
- Ice Skating Gloves
- Ice Skating Jackets
- Ice Skating Pants
- Ice Skating Pads
- Ice Skating Helmets
- Direct to Customer Brand Outlets
- Direct to Customer Institutional Channels
- Direct to Customer Online Channels
- Franchised Sports Outlets
- Independent Sports Outlets
- Modern Trade Channels
- Third Party Online Channels
- Online Sales of Ice Skating Equipment
- Online Sales of Ice Skating Accessories
- Offline Sales of Ice Skating Accessories
- Offline Sales of Ice Skating Equipment