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The skating shoes market size is estimated to grow at a CAGR of 3.56% between 2022 and 2027. The market size is forecast to increase by USD 1,023.02 million. The growth of the market depends on several factors such as the increasing number of figure skating tournaments, the easier distribution channel through online platforms, and the fitness benefits associated with skating
This skating shoes market report extensively covers market segmentation by channel (offline and online), type (roller skates, inline skates, ice skates, speed skates, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing number of figure skating tournaments is driving the market growth. Over the years, figure skating has gained popularity, any age group can adopt this sport event, making it a sporting activity with global acceptance. For instance, the World Figure Skating Championships is an annual figure skating competition sanctioned by the ISU. The categories for medals awarded include men's singles, women's singles, pair skating, and ice dancing. Therefore, the expansion in the number of tournaments globally has piqued the interest quotient among consumers and is also anticipated to have a positive influence on the market.
Moreover, the rising interest in sports has a direct influence on the development and expansion of sports tournaments. The global sports industry has undergone an increase in the number of tournaments. Also, the number of figure skating competitions held globally and in training clubs is increasing, which can be attributed to the growing number of players. This rising number of championships and tournaments in the field of figure skating is likely to drive the growth rate of the market in the forecast period.
Social media presence is an emerging trend shaping market growth. To demonstrate and launch products, most of the vendors have a presence on social media platforms such as Instagram and Facebook. Most people use social media nowadays. The average time spent by people on social media every day was around two hours and 29 minutes as of July 2022. Moreover, the presence of many videos related to skating on social media, such as TikTok, YouTube, and Instagram, also attracts people to learn skating.
However, people also use social media platforms to learn new skills. For instance, Ana Coto is an actress and dancer in Los Angeles who made a huge splash on the TikTok app for her roller-skating videos, which attracted many women population to make similar videos. Hence, such factors will drive the demand for skating shoes during the forecast period.
Extensive infrastructural costs associated with winter sports are significant challenges hindering market growth. Most of the countries promote their interested sports events and will not be curious about all other sports events due to lack of infrastructure. Further, with little or no guarantee of enough windfall, roller and inline skating rinks tend to be large and expensive investments. In terms of revenue growth, this is a setback for the prospects of this short in those countries. various sporting activities, like skating, which could become popular in a country remain underdeveloped due to lack of proper infrastructure.
However, many countries in MEA and APAC can be cited as examples where the lack of necessary infrastructure has hindered the growth of winter sports. Generally, most of these countries have the resources to support a few sports, but other sports with less recognition do not get the scope to develop and flourish. In addition, another challenge for winter sports rinks is that they tend to be expensive investments. Further, the market for ice rinks has been hindered by the increasing costs of real estate and utilities, in addition to high remodeling costs. Rink owners also find it difficult to increase the costs used to offset tax drainages in a short time. Hence, the high infrastructural costs associated with ice rinks are estimated to impede market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Skating Shoes Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Boardriders Inc. - The company offers skating shoes such as Vans Old Skool, Authentic, and Slip-On.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the offline segment will be significant during the forecast period. Generally, skating shoes are premium products that are not easily available in sports products shops. They are mostly found in specialty stores due to their complicated creation process and apparently high price range. The personnel of these shops tends to have a detailed knowledge of the products during selling, as it is essential for buyers to have complete information on the technicality, features, advantages, and safety of the skating shoe.
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The offline segment was valued at USD 3,215.83 million in 2017 and continued to grow until 2021. Offline distribution through retailing channels is a very significant part and is more popular in the skating shoe market. It provides a detailed understanding of the product. Due to many safety measures that pertain while riding a skating shoe, children or their parents opt to buy the products from physical stores instead of online platforms. Physical stores provide detailed knowledge of the product and a wide variety of products. Because of their mid-sized price range for the products and the availability of many options, many people buy skating shoes from Walmart stores.
On the other hand, companies are concentrating on improving their offline sales by developing their operations across multiple areas which allows them to efficiently increase product sales and serve all consumer segments across a large geographical area. Consumers will get more regular with different styles of Skating shoes because of the exponential growth in retail channels across various geographies. Therefore such factors will also drive value sales in the market for skating shoes during the forecast period.
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North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America has the most lucrative and steady global market for skate shoes due to the popularity of the sport. Also, people consider such sports activities as hobbies.
In North America, the skating shoe market is the most profitable and stable globally. The sport's popularity in the region is a major pastime that became the significant reason behind the market growth in this region. Figure skating, short-track speed skating, and Sped skating are some of the popular skate-related events in the Olympics. The rising popularity of roller derby, rink hockey, ice hockey rinks, and other roller sports will boost the opening of many skating rinks in North America. Hence, the sport is displaying a high market growth potential during the forecasted period.
The COVID-19 outbreak compelled governments across the world to impose strict lockdowns, which led people to stay confined in their houses for a long period leading to isolation. Multiple sporting events scheduled for that period were also canceled. Nevertheless, with the slowing down of the pandemic due to the extensive vaccination drives adopted by the governments in North American countries, a sense of hygiene with wearing masks among the people, and the relaxation of lockdown restrictions in 2021 which were previously imposed. Therefore, Figure skaters in the region are also witnessing tremendous popularity and support, and organizers are finding new ways of organizing competitions after the pandemic in the coming years. Hence, such factors are anticipated to help in the recovery of the market during the forecast period.
The skating shoes market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Skating Shoes Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.56% |
Market growth 2023-2027 |
USD 1,023.02 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.7 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 34% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amula Enterprise Corp., Boardriders Inc., Bont Skates Online Shop, Crazy Skates USA, Decathlon SA, EDEA srl, Globe International Ltd., K2 Sports Europe GmbH, LazerXTech, New Balance Athletics Inc., Powerslide GmbH, Radical Sportech Mfg. Co., Riedell Shoes Inc., Roces Srl, Roller Derby Skate Corp., Skate One Corp., SURE GRIP International, Tecnica Group SpA, Triple Power Sports Products Inc., and Nike Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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