The figure skating equipment market is expected to grow by USD 14.34 million during 2021-2025, decelerating at a CAGR of almost 6%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but it will gradually lessen in subsequent quarters with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global Figure Skating Equipment Market 2021-2025 (Graphic: Business Wire)
The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios. Get FREE Sample Report within MINUTES
Figure Skating Equipment Market: Rising popularity of sports tournaments to drive growth
The growing consumer interest in sports had a positive impact on the proliferation of sporting tournaments over the years. For example, the number of figure staking competitions and training clubs is increasing with the rising number of players globally. Also, the sport can be adopted by any age group, which has further increased interest among consumers. Besides, the rising popularity of international figure skating tournaments such as the Aegon Challenge Cup, Asian Figure Skating Trophy, International Trophy of Lyon Grand Prix, and European Figure Skating Championships are positively influencing the growth of the global figure skating equipment market.
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As per Technavio, the increasing number of waterless ice-skating arenas will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Figure Skating Equipment Market: Increasing number of waterless ice-skating arenas
Many figure staking rink facility owners across the US, Canada, Japan, and Denmark have started using rinks with synthetic ice-skating surfaces. These rinks are eco-friendly and do not require refrigeration to create a mechanically frozen skating surface. They also eliminate the dependence of weather conditions and artificial energy processes to create ice-skating rinks, thereby reducing operational costs. This trend is expected to have a positive impact on the growth of the global figure skating equipment market during the forecast period.
"Growing awareness about the benefits of an active lifestyle and the emergence of innovative figure skating equipment will further boost market growth during the forecast period," says a senior analyst at Technavio.
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Figure Skating Equipment Market: Segmentation Analysis
This market research report segments the figure skating equipment market by Distribution Channel (Offline and Online) and Geography (North America, Europe, APAC, South America, and MEA).
The North America region led the figure skating equipment market in 2021, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the Europe region is expected to register the highest incremental growth due to factors such as a surge in the number of women participants, favorable governmental support, and the rise in the adoption of figure skating as a fitness activity.
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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