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Ice Skating Equipment Market Opportunities And Startegies , Analysis 2024
Ice Skating Equipment Market
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According to The Business Research Company's, The ice skating equipment market size has grown rapidly in recent years. It will grow from $6.29 billion in 2023 to $6.94 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to evolution of ice skate design and technology, influence of professional ice skating competitions, growth of recreational ice skating activities, economic prosperity and disposable income levels, fashion trends in ice skating apparel.
The ice skating equipment market size is expected to see strong growth in the next few years. It will grow to $9.89 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to accessibility of ice skating lessons and training programs, winter tourism and seasonal demand for equipment, expansion of indoor and outdoor skating facilities, customization and personalization of ice skating gear, increasing participation in figure skating and ice dance
. Major trends in the forecast period include technological advancements in ice rink maintenance, innovation in materials for lighter and more durable skates, integration of smart technologies in ice skating equipment, sustainable and eco-friendly manufacturing practices, rise of eco-conscious and recyclable skate products, virtual reality (vr) training experiences for skaters.
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Market Drivers and Trends:
The increasing popularity of ice-skating sports is expected to propel the growth of the ice-skating equipment market going forward. Ice skating sports refers to various athletic activities performed on ice surfaces using ice skates. Ice skating equipment plays a crucial role in ice skating sports as it directly impacts the skater's performance, comfort, and safety. Ice-skating equipment is used in ice-skating sports to enhance balance, stability, grip, implementation, maintenance, and care. For instance, according to U.S. figure skating, a US-based governing body for figure skating sports, in 2022, the U.S. Synchronized Skating Championships in Colorado Springs attracted 93 teams which have increased to more than 180,000 skaters registered with U.S. figure skating after 90 years and club associations increased to more than 700. Therefore, ice-skating sports' increasing popularity is driving ice-skating equipment's growth.
Technological advancements are a key trend gaining popularity in the ice-skating equipment market. Major companies operating in the ice-skating equipment market are adopting modern technologies to sustain their position in the market. For instance, in December 2022, Alien Kinetics LLC, a Canada-based sports goods manufacturing company, launched Driblades off-ice training technology to shorten the time it takes for children to develop into balanced, more vital, and more confident skaters. Driblades for Children is a first-of-its-kind program designed to help children gain confidence in their skates on and off the ice. This technology was developed to provide an off-ice environment for youngsters and new skaters to boost their on-ice skating skills. Driblades are available for skaters of all sizes.
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Major Key Players of the Market:
Decathlon SA., Mizuno Corporation, Tecnica Group S.p.A., K2 Sports LLC., Wilson Skates, Bauer Hockey Inc., Reebok-CCM Hockey Inc., Riedell Shoe Inc., Mondor Skating, Rollerblade Inc., Easton Hockey Inc., EDEA srl, A and R Sports, MK Blades, Roces S.p.A., Apex Skating Inc., Cougar Sports, Powerslide, Graf Skates AG, Absolute Athletics LLC., Tournament Sports Marketing Inc., Jackson Ultima Skates, Statewood International Co. Ltd.,Triple Power Sports Products Inc., American Athletic Shoe Co., SkatingSafe, Kinzies Closet, Ice Zone Sports Inc., Risport Skates, SP-Teri Inc.
Ice Skating Equipment Market 2024 Key Insights:
• The ice skating equipment market size is expected to see strong growth in the next few years. It will grow to $9.89 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%.
• The Surge In Ice Skating Popularity Propelling Growth In The Ice-Skating Equipment Market
• Technological Innovations Shaping The Landscape Of The Ice-Skating Equipment Market
• North America was the largest region in the ice-staking equipment market in 2023
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