The ice skating industry is currently experiencing steady growth as recreational sports and leisure activities gain popularity worldwide.
Awareness of health and fitness is rising all over the world, and this has resulted in an increase in the number of people participating in sports, including ice skating, is also on the rise.
According to Fact.MR, the market ice skating equipment market registered a CAGR of 5% in the historical period 2018 to 2022. Thus, the market for ice skating equipment is expected to register a CAGR of 5.3% in the forecast period 2022 to 2032.
The global ice skates market size was valued at approximately USD 1.2 billion in 2023 and is projected to reach an impressive USD 2.3 billion by 2032, registering a robust compound annual growth rate (CAGR) of 7.1% during the forecast period.
Ice Skating Rink market was valued at $0.4 Million in 2022, and is projected to reach $0.8 Million by 2032 growing at a CAGR of 6.20% from 2023 to 2032.
Read also: Winter Fun at Hamilton Ice Arena
Winter recreation in the North American region is dominated by ice skating.
Over the next few years, the ice skating market will continue to benefit from an upswing in sales of ice skates, a higher demand for ice skating products.
The strong presence of manufacturers of ice skating equipment, the growing popularity of ice skating as a leisure and thrill sport, and the increasing disposable income of the population are all contributing factors to the market growth.
Increasing technological developments and demand for artificial skateboards are expected to drive demand for ice skating equipment in the market.
Key Market Drivers
- Rising Popularity of Winter Sports: One significant growth factor for the ice skates market is the rising popularity of winter sports activities across various demographics.
- Technological Advancements: Technological advancements and innovations in ice skate design and materials are another driving force behind the market growth.
- Influence of Social Media: Moreover, the growing influence of social media and the internet has played a pivotal role in promoting ice sports.
- Growth of Leisure and Recreational Activities: The growth of leisure and recreational activities has become a significant trend in recent years, driven by a combination of factors including urbanization, increased disposable income, and a heightened awareness of the importance of physical well-being.
Market Segmentation
The ice skating equipment market is segmented into various product types: ice figure skates, ice hockey skates, ice racing skates, recreational ice skates, ice skating apparel, and protection accessories.
Read also: Ice Skating in Great Neck
Each product type is related to a type of skating activity.
For instance, ice figure skates are designed for artistic performance and would therefore require some specific features to provide that amount of flexibility and support, while ice hockey skates, being more sport-oriented, require speed and agility for competitive games.
Recreational skates are versatile and great for families or beginners.
Protective gear and apparel, as essential components of safety and comfort for the skaters, also constitute an imperative in the market.
The market is also segmented by end user, focusing primarily on men and women.
Read also: Ice Skating at AZ Ice Gilbert
Each demographic has distinct preferences and requirements when it comes to ice skating equipment.
Men may lean toward more aggressive designs, often seeking performance-oriented features that enhance speed and control.
In contrast, women’s products may focus on style and comfort, with designs that consider aesthetics alongside functionality.
Additionally, marketing strategies often tailor products to appeal to these specific segments, utilizing different messaging and branding approaches.
Product Types
- Figure Skates: Figure skates are highly specialized equipment used in figure skating, characterized by their toe picks and boot design that offers support and flexibility.
- Hockey Skates: Hockey skates, on the other hand, are designed for speed, agility, and durability, catering mainly to ice hockey players.
- Speed Skates: Speed skates are engineered for racing and high-speed skating, featuring long blades that reduce friction and allow for faster movement on ice.
- Recreational Skates: Recreational skates are designed for casual and recreational skating, appealing to a broad audience that includes families, children, and individuals looking for a leisure activity.
End-User Segments
- Men: The men's segment typically demands robust and performance-oriented skates, particularly in the context of sports like ice hockey and speed skating.
- Women: The women's segment, while sharing some similarities with the men's segment in terms of performance requirements, often places a higher emphasis on aesthetics and comfort.
- Kids: The kids' segment is characterized by a focus on safety, comfort, and ease of use.
Regional Analysis
North America continues to dominate the global market for ice skating equipment market.
North American revenue is expected to increase by 1.3X by 2033.
The number of ice skating enthusiasts in the country is extremely high.
The number of people participating in skating competitions is high, both from an active and passive perspective.
Competition skating events are watched by a large audience in the country.
Asia Pacific's market is expected to grow rapidly during the projection period.
Skating popularity has increased significantly in China, Japan, South Korea, and India, countries with large leisure spending in this region.
As ice skating becomes more accessible in the Asia Pacific region, interest in the sport is expected to increase, which will create lucrative growth opportunities.
There is a high level of viewership and participation in figure skating in China.
The ice skating equipment market in China is expected to benefit from the tremendous growth in popularity.
Market growth in China is being driven by a rise in recreational skate sales and racing skate sales.
ICE SKATING and ice skating clothing & equipment are likely to benefit from growing consumer interest in Western culture.
North America, specifically the United States and Canada, are crucial in this market mainly due to an already built culture for ice sports such as hockey and figure skating.
This region also has very well-developed infrastructure concerning ice rinks and also has a great population engaging in both recreation and competition when it comes to skating.
The existence of big sport organizations and high community activity in winter sports further contribute to market growth.
This region has colder climates, which are naturally suitable for outdoor skating rinks. This helps to promote participation throughout the year.
In Europe, for example, Russia, Sweden, and Finland have a long history for ice skating, and therefore the market is more robust.
Countries in Europe normally hold international competitions thus investments are made in up-to-date facilities and rates of participation increase.
Meanwhile, the Asia-Pacific region is experiencing an extremely rapid growth in interest for ice sports, especially in countries like China and Japan, where winter sports are becoming increasingly popular with increased disposable incomes and government policies that encourage health and fitness.
North America and Europe dominate the ice skates market due to a strong tradition of ice sports and well-established infrastructure, including numerous skating rinks and organized leagues.
Asia Pacific is emerging as a lucrative market due to the increasing popularity of ice hockey and figure skating in countries like China and Japan.
North America holds a dominant position in the ice skates market, driven by a strong culture of ice sports and a well-established infrastructure.
The United States and Canada are key contributors to the market, with numerous ice rinks, organized leagues, and a large base of recreational skaters.
Europe is another significant market for ice skates, with countries like Russia, Sweden, and Finland having a deep-rooted tradition of ice sports.
The Asia Pacific region is emerging as a lucrative market for ice skates, with countries like China, Japan, and South Korea showing increased interest in ice sports.
Key Companies
The ice skating rink market is majorly dominated by manufacturers of ice skating equipment and operators of ice rinks, and are mostly strategic partners for better market presence.
Among the major producers of ice skates and related equipment, including innovation and quality, are Bauer Hockey, Jackson Ultima, and Riedell Skates.
In addition to equipment manufacturers, there has been a high number of ice rink operators and management companies now focused on experience creation to the skaters.
These typically market their uniqueness through unique skating lessons and themed events but also recreate recreational activities aiming at getting different audiences inside.
Also, some companies explore digitalization: for instance, they use app-based booking systems and more advanced customer engagement tools to make the whole operation more efficient and friendly.
Regional factors also affect competitive dynamics, as regional players may serve specific target groups and preferences.
Major companies in the ice skates market include Bauer Hockey, Graf Skates AG, Jackson Ultima Skates, Roces S.r.l., and CCM Hockey.