Figure Skating Equipment: Market Trends, Drivers, and Forecast From Technavio

17-Jan-2017 Intellasia | BusinessWire | 2:43 AM Print This Post

LONDON–(BUSINESS WIRE)–#OutdoorGearTechnavio
market research analysts forecast the global
figure skating equipment market
to grow at a CAGR of more
than 1% during the forecast period, according to their latest report.


The market study covers the present scenario and growth prospects of the
global figure
skating equipment
market for 2017-2021. The report also
lists figure skates and figure skate accessories as the two major
product segments, of which the figure skates segment accounted for close
to 94% of the market share in 2016.

According to Brijesh Kumar Choubey, a lead analyst at Technavio for outdoor
gear
research, “The advent of eco-friendly ice and
figure skating rinks has been a positive move by manufacturers, which
will help to reduce costs and in turn make the sport more accessible in
developing countries of the APAC region.”

Request a sample report: http://www.technavio.com/request-a-sample?report=55900

Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Technavio research analysts highlight the following three market drivers
that are contributing to the growth of the global figure skating
equipment market:

  • Growing popularity of figure skating in developing countries
  • Waterless figure skating rinks
  • Benefits of figure skating as a fitness activity

Growing popularity of figure skating in developing countries

Even though figure skating is quite like ice skating, there are a number
of factors that differentiate the two. Figure skating, also known as
synchronized skating, is a multifaceted sport, that involves a
combination of speed, movement, music, and choreography. Figure skating
has been gaining rapid popularity since its advent in the 1990s.

Many developing countries in APAC have been increasingly adopting the
sport at an international level. The Ice Skating Association of India,
which also manages ice skating and figure skating, is the governing body
for the sport in the country. The organization is affiliated with the
International Skating Union (ISU), along with the Asian Skating Union
(ASU). This increasing adoption of the sport in developing countries is
expected to propel the market’s growth during the forecast period.

Waterless figure skating rinks

Waterless figure skating rinks or synthetic ice rinks use a solid
polymer material for skating using regular metal-bladed ice skates.
These rinks are normally constructed using interlocked panels and do not
require ice. In recent times, many figure skating rinks have started
using waterless ice skating rinks or synthetic ice skating rinks as
these are eco-friendly. Moreover, these waterless ice skating rinks do
not require refrigeration
equipment
, thereby, reducing operation costs.

“With the increased adoption of waterless figure skating rinks, the
geographic reach of the sport is increasing, as many Southern European,
Southern American, and Asian countries are now successfully adopting the
sport,”
says Brijesh.

Benefits of figure skating as a fitness activity

Figure skating may not be highly popular as an outdoor sport or
activity, but the sport has been gaining pace when it comes to its
adoption as a fitness activity. The addition of figure skating to an
exercise program offers several health benefits to the user. Figure
skating acts as an effective cardiovascular
workout, as well as endurance and strength training tool to build strong
muscles in the pelvic area and legs. Balance and coordination can also
be improved by practicing figure skating regularly.

Many ice skating rinks have also started focusing on the health benefits
of figure skating as an effective point of sale. Using fitness benefits
as a unique selling proposition has enabled many rinks to increase their
consumer bases, thereby propelling the growth of the market.

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

If you are interested in more information, please contact our media team
at [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

 


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