Figure Skates Market Size, Share, Growth, and Industry Analysis by Type (Recreational, Professional and Others), By Application (Men, Women, Boys, Girls and Other ), Regional Insights, and Forecast From 2024 To 2031

Updated On: 15 April 2024

Figure Skates Market Report Overview

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The global figure skates market size is expected to be USD 53 million in 2022 and is projected to touch USD 72.49 million by 2031, exhibiting a CAGR of 3.7% during the forecast period.

The spike in CAGR is attributable to figure skates market growth and demand returning to pre-pandemic levels once the pandemic is over. The global COVID-19 pandemic has been unprecedented and staggering, with the figure skates market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Ice skates used by figure skaters are called figure skates. The skates are made up of a boot and a blade that are screwed into the boot sole. Although affordable sets are available for recreational skaters, the majority of figure skaters buy their boots and blades separately and have the blades mounted by a qualified skate technician. Figure skates are metal blades that are mounted underfoot and are used to skate across a sheet of ice. Both indoor and outdoor deliberately prepared ice surfaces as well as naturally occurring frozen water bodies, such as ponds, lakes, and rivers, can be used for ice skating.In contrast to their early use as a sport, figure skates are now mostly utilized for recreation, art, and sports. The design and production of ice skates have seen enormous technological advancements. There are many different types, models, and functions of ice skates.

COVID-19 Impact: The Lockdown Forced People to Stay at Home and Hampered the Market

The COVID-19 is causing severe harm to the consumer goods and infrastructure industry. The lockdown is among the most significant factor which created setbacks and forced people to stay at home. Furthermore, once the enormity of the situation became clear, the majority of firms closed their doors. As a result, the figure skates market share fell precipitously. However, after the pandemic, it is expected that public areas would install figure skates arenas. The pandemic's efforts to raise awareness are to blame. Furthermore, it is expected that a surge in health consciousness would drive figure skates market growth throughout the research time-frame.

LATEST TRENDS

"Increasing Demand for Synthetic Materials with Heat-Modifiable Linings to Propel the Market"

Due to their robustness and lighter weight than leather boots, boots constructed of synthetic materials with heat-modifiable linings have recently gained popularity among skaters. They are also simpler to "break in." A boot that is hinged at the ankle to give lateral support while allowing for increased flexibility is the most recent advancement in boot technology. In order to allow for a greater ankle bend, ice dance boots are often a little lower in the back. A flexible elastic back is also a feature of some boots. Although there are different colours available, black and white are the standard colours for boots for men and women, respectively.

Figure Skates Market Segmentation

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• By Type

Based on type; the market is divided into recreational, professional and others.

• By Application

Based on the application; the market is divided into men, women, boys, girls and others.

DRIVING FACTORS

"Demand for Skating as A Sports Activity to Bolster the Market Growth"

Ice skates are now much more in demand all around the world. The most common application for ice skates is in sports. Ice skates were were primarily used for transportation, but today they are primarily utilized for sport, art, and pleasure. The number of ice skaters has increased as the sport of ice skating has developed both domestically and internationally. Another significant aspect influencing the need for ice skates is ice skating contests. Ice skates are produced and created according to their intended use. Figure skates are made up of a boot and a blade that are screwed into the boot sole. Figure skaters utilize these kinds of skates. Ice hockey is played using bandy skates and hockey skates. On ice rinks and arenas, speed skating is done on racing skates. At areas without snowfall, ice skates are used in skating rinks that have been artificially constructed. A positive market outlook is also being contributed by additional factors like rising consumer disposable incomes, increasing interest in sports and fitness activities, and increasing popularity of international competitions.

"The Rising Popularity of Skating Across the Globe to Attract the Market Share "

The figure skates market growth is significantly influenced by the popularity of skating. In terms of design and production, ice skates have experienced a great deal of technological and technical development. The number of skaters has increased as skating has developed both domestically and internationally. In addition, skating on artificially made ice surfaces is popular in ice rinks and retail malls. The demand for skates has skyrocketed on a global scale. Both indoor and outdoor ice skating have seen an increase in popularity recently, and this trend is anticipated to last for some time to come. Recreational and touring skates are both used for skating. As snow falls in Europe for a longer period of the year than in any other region of the world, there is a high demand for ice skates.

RESTRAINING FACTORS

"The High Cost and Risk of Injury to Hold Back the Market Growth"

The considerable potential for injury is the first. Skating is one of the activities where there is a higher chance of injury because it combines blades and hard ice. The lifts and reliance on the other skater make pair skating the most risky. Skating's expensive price is its other drawback. This sport runs up quite a tab between skates and ice rentals. The entry fee, ice time, coaching, skates, and skating attire are all expenses if you're competing. The price increases as you get more proficient at skating. However, the high cost and risk of injury can hamper the figure skates market share.

Figure Skates Market Regional Insights

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"North American Region to Lead the Market with Active Participation "

Despite the fact that ice skating first appeared in Scandinavia around 3,000 BCE, the development of modern figure skating was greatly aided by the discovery of steel blades in 1855 by American Edward Bushnell and the introduction of ballet-inspired moves by Jackson Haines. As of the 2020–2021 season, there were 186,038 members of the American figure skating community. Furthermore, Ice Sports Industry, "an worldwide industry trade organization," holds contests, manages skating lessons, and provides a different set of levels than US Figure Skating. In the past, ice skating was a well-liked sport on American television. This is significantly contributing to the figure skates market growth.

KEY INDUSTRY PLAYERS

"Prominent Industry Players in the Industry to Promote Market Expansion"

The market's expansion was significantly impacted by the techniques employed by market participants in recent years, such as extensions. The report covers details and information about the firms and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other considerations taken into account for this market are the businesses that develop and provide new products, the geographic areas in which they function, mechanization, innovation strategies, generating the maximum revenue, and using their products to make a significant difference.

List of Market Players Profiled

• Jackson Ultima (Canada)
• Edea (Italy)
• Risport Skates (Italy)
• Graf Skate (Switzerland)
• Riedell Shoes (U.S.A)
• Roces (Italy)
• American Athletic (U.S.A)
• Rollerblade (U.S.A)
• Winnwell (U.S.A)
• Dongguan King Line (China).

REPORT COVERAGE

This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching  of recent industry developments,  deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.