Skating Shoes Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Canada, China, Germany, UK - Size and Forecast 2024-2028

Skating Shoes Market Size 2024-2028

The skating shoes market size is estimated to increase by USD 938.2 million and grow at a CAGR of 3.2% between 2023 and 2028. The market is experiencing continuous expansion, driven by several influential factors. The proliferation of figure skating tournaments worldwide fuels the demand for specialized footwear. Additionally, the convenience of online retailing broadens the reach of a global audience. Furthermore, the fitness benefits linked to skating, including improved cardiovascular health and enhanced agility, add to the market's allure. These factors collectively contribute to the robust growth of the market.

What will be the size of the Market During the Forecast Period?

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Market Dynamics

In the dynamic world of health and fitness, two popular activities that have captured the imagination of millions are ice skating and skateboarding. Both these sports require specialized footwear to ensure optimal performance and prevent injuries. The market encompasses a wide range of brands catering to the unique needs of these sports. Manufacturing companies meticulously design and manufacture ice skating shoes, featuring advanced technologies for improved traction on the ice. These shoes often come with laces, velcro straps, or zippers for a secure fit. Inline skating shoes, on the other hand, are essential for skateboarding, providing the necessary support and agility for this extreme sport. Skate culture thrives on the fusion of style and functionality, with celebrities often endorsing their favorite brands. Specialty and sports shops, department stores, and online retailer offers an extensive selection of skating shoes, catering to the diverse preferences of skating communities. The skating shoes market is expanding with innovations in ice hockey equipment and skateboarding equipment. As interest in both ice and skateboard market grows, so does the demand for specialized skateboarding equipment. Whether you're an ice skating enthusiast or a skateboarding pro, investing in high-quality skating shoes is crucial for your health and fitness. These shoes not only enhance your performance but also protect you from potential injuries. So, one can lace up those shoes and hit the ice rink or skate park or theme parks, amusement parks with confidence! 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.

Key Market Driver

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.

Significant Market Trends

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 during the forecast period.

Major Market Challenge

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. 

Market Customer Landscape

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.

Market Customer Landscape

Who are the Major Skating Shoes Market Companies?

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:

• Amula Enterprise Corp 
• 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.
• Nike Inc.

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.

Market Segmentation

The market share growth by the offline segment will be significant during the forecast period. Generally, they 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 3.23 billion in 2018 and continued to grow until 2022. 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 retails. 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 them 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 because of the exponential growth in retail channels across various geographies. Therefore such factors will also drive value sales in the market during the forecast period. 

Key Regions

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North America is estimated to contribute 35% 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.

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Channel Outlook
  • Offline
  • Online

• Type Outlook
  • Roller skates
  • Inline skates
  • Ice skates
  • Speed skates
  • Others

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • South America 
    • Chile
    • Brazil
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

 The market encompasses a wide range of footwear designed for various forms of skating, including ice skating rinks, hockey skating, roller skating, and skateboarding. These shoes are available through various channels such as ecommerce platforms, multibrand stores, independent small stores, and department and discount stores. Golden Spirit Dinner and themed events provide an excellent platform for showcasing the latest trends in skating shoes. Hockey players and figure skaters prefer lace-up closure shoes for optimal skate performance and support. Roller skating shoes, on the other hand, often feature Velcro closures for ease and convenience. Sales offices and distribution centers play a crucial role in the supply chain of skating shoes. Ecommerce platforms have revolutionized the way consumers purchase skating shoes, allowing them to shop from the comfort of their own homes. The sneaker business has also gained significant traction in recent years, with many offering a wide selection of skating shoes. The International Skating Union sets the standards for competitive skating, and athletes require high-performance shoes to meet these standards. Whether it's ice skating, hockey skating, roller skating, or skateboarding shoes, the right pair of shoes can make all the difference in performance and comfort.

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What are the Key Data Covered in this Market Forecast Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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