The skate consists of a blade, a shoe and a construction or binding device that connects the shoe to the blade. The device may allow any safe translation and/or rotation of the shoe relative to the blade, thus enabling a skater to achieve optimum physical capacity.

Blades are made of high-tempered carbon steel. They range in length from 40 to 48 centimeters (about 16 to 19 inches) and are about 1.1 millimeters (about 0.04 inches) thick.

To allow speed skaters to take long, gliding strides, speed skating blades have very little curve compared to hockey, figure or short track skates. Edges of the blades are sharpened to a 90-degree angle for maximum efficiency during the push.

The clap skate made its Olympic debut at the 1998 Nagano Games and propelled skaters to world records in five events. Unlike conventional skates, the heel of the blade on a clap skate is not attached to the boot, and the toe of the blade is affixed to the boot with a hinged apparatus. At the end of each stride, as the skater picks up their foot, the blade briefly disconnects from the heel of the boot, thereby keeping the blade on the ice longer and increasing the skater’s pushing power. When the blade fully has extended, a spring mechanism mounted on the front of the boot snaps the blade back up to the boot, resulting in the clapping sound that gives the skate its name.   

Speed skating boots are custom molded to each athlete’s feet and made of carbon fiber leather for a tight fit. The only rigid part of the boot is the heel; the rest conforms to the skater’s foot like a track shoe fits to a sprinter’s foot. Therefore, the upper part of the boot is pliant and is cut low on the ankle. Many skaters choose not to wear socks to get a better feel for the skates.

Skaters wear skin-tight suits with an aerodynamic hood and thumb loops to minimize air resistance. Racing suits must conform to the natural shape of the skater's body.

Most racers use some kind of eyewear to help their vision and to keep their eyes from tearing in the wind.

In speed skating individual events, a skinsuit and rounded blades are the only pieces of required equipment. Eyewear is recommended. 

The mass start and team pursuit events require athletes to also utilize a cut resistant suit, as well as a helmet, cut resistant gloves and cut resistant ankle protection. A cut-resistant neck guard also is required if the skin suit fails to cover the neck area. 

Speed skating rules require that all energy expended during a race must originate from metabolic work produced by the skater. Therefore, skates may not contain any element or device that violates that requirement. Skaters are not permitted to heat the blades of their skates using any external source or by means of any artificial mechanisms. 

Additionally, insertions or attachments of forms or devices that alter the shape of the racing suit are not permitted. Only permanently-attached racing stripes with a maximum height of 0.5cm (less than two tenths of an inch) and a maximum width of 2.5cm (just under one inch) are allowed. 

Skaters that attempt to use a racing suit or skate that does not abide by the ISU standards may be disqualified from competition. 

The ice for speed skating must be kept between -5 and -6 degrees Celsius (about 21 to 23 degrees Fahrenheit). Teams of ice technicians monitor the temperature, humidity and surface quality.

Making the ice involves a water purification process in which minerals and impurities that may impact how the ice freezes or responds to skate blades are removed. 

Because ice is impacted by the conditions of the day, resurfacing machines (such as Zambonis) are used between races to shave away worn-out ice and lay down a thin layer of warm water that freezes into a smooth, fresh sheet.