As per Future Market Insights, the global ski gear and equipment market is expected to experience steady growth, with a projected value CAGR of 3.2% during the forecast period from 2022 to 2032. In 2021, the market was forecasted to generate a global revenue of USD 1.6 billion, with expectations to reach USD 2.26 billion by 2032.
Skiing is considered to be one of the most popular and fascinating adventure sport practiced in the North American and the European regions in large scale. Over the years, the global skiing sports industry has witnessed a rise in the number of participants and audience which is attributable to the experience one gets while playing sports. With the rise in popularity of the sports, skiing is now being considered in global sports event such as the Olympics.
There are types of skiing practiced i.e. cross-country skiing, Alpine skiing and ski touring. With the rise in the number of participants for the sports, there has been a significant rise in demand for various types of ski gear & equipment. Ski gear & equipment promotes safety and smooth rides to its users.
Now that skiing is considered one of the commercial sports in the global industry, ski gear & equipment has been gaining traction in various parts of the world. Ski gear & equipment includes jackets, snowboards, goggles etc which are available in various styles that cater to varying needs and demands of its customers.
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The prominent growth drivers influencing the ski gear and equipment industry
- Rising Popularity of Skiing: The increasing popularity of skiing as a recreational and competitive sport is a major driver for the growth of the ski gear and equipment industry. As more people engage in skiing activities worldwide, there is a corresponding surge in demand for high-quality ski gear and equipment.
- Technological Advancements: Continuous advancements in technology have led to the development of innovative ski gear and equipment, including improved materials, designs, and features. These technological innovations enhance the performance, comfort, and safety of ski equipment, driving consumer demand and market growth.
- Growing Participation in Winter Sports Tourism: The rise in winter sports tourism, especially in regions with favorable skiing conditions such as mountainous areas and ski resorts, contributes significantly to the demand for ski gear and equipment. Tourists seeking memorable skiing experiences fuel the need for modern and reliable gear, stimulating market growth.
- Increasing Disposable Income: As disposable income levels rise globally, more individuals have the financial means to invest in leisure activities like skiing. This increased purchasing power translates to greater expenditure on ski gear and equipment, boosting market growth.
- Focus on Health and Fitness: The growing awareness of the importance of health and fitness is prompting more people to engage in outdoor activities like skiing. Skiing is perceived as an enjoyable way to stay active and maintain physical fitness, leading to an increased demand for ski gear and equipment.
- Influence of Social Media and Influencers: Social media platforms and influencers play a significant role in promoting skiing as a trendy and desirable activity. Influencers often showcase the latest ski gear and equipment, influencing their followers to invest in similar products, thereby driving market growth.
- Expansion of Online Retail Channels: The proliferation of online retail channels provides consumers with convenient access to a wide range of ski gear and equipment. The ease of browsing, comparison, and purchase offered by online platforms contributes to increased sales and market expansion.
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Global Ski Gear & Equipment Market: Key Players
Some of the key players operating in the global Ski Gear & Equipment market are
- Amer Sports Oyj
- Fischer Sports GmbH
- Black Diamond Equipment
- Groupe Rossignol
- Coalition Snow
- Helly Hansen
- Volkl Int. GmbH
- K2 Sports LLC
- Alpina DOO
- Clarus
- The Burton Corporation
- Skis Rassignol S.A
- Icelantic LLC
- Beteilgungsverwaltungs GmbH
- Cheers.US
Ski Gear & Equipment Market: Key Developments
- In 2017, Burton Snowboard, one of the key players in global Ski Gear & Equipment launched a new kind of ski gear & equipment product i.e. new strapless, step-in Step On boot-binding system, after five years of R&D.
- In 2017, various key players in European ski gear & equipment market organized a high-profile exhibition The Telegraph Ski & Snowboard Show notifying its key product launches of the year to its target customers.
Opportunities for Ski Gear & Equipment Market Participants
There have been recent developments where artificial snow environment being installed in the commercial mall for better customer services and experiences. For instance, the Dubai Mall has installed artificial snowboard for its customers to have a gist on how various snow sports like skiing looks like. Likewise, there are many other prominent malls that have come up with such initiatives. This one critical factor will further provide a critical opportunity for ski gear and equipment to gain traction at a significant rate in the global market.
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Key Segmentations:
On the basis of types
- Jacket
- Timer
- Goggles
- Helmets
- Snowboard
- Snowboard boots
- Ski Gloves
- Snowboard sticks
- Skiing apparels
- Others
On the basis of application
- Cross-county skiing
- Alpine Skiing
- Downhill skiing
- Ski touring
On the basis of end use
- Men
- Women
- Kids
On the basis of the sales channel
- Wholesaler/Distributors
- Specialty Store
- Franchise Stores
- Online Store
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