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Ski Equipment Market to grow by USD 473.54 million from 2021 to 2026 | Increasing participation rate in skiing and other snow sports to boost the market growth – Technavio

NEW YORK, Sept. 7, 2023 /PRNewswire/ — The ski equipment market size is expected to grow by USD 473.54 million from 2021 to 2026, progressing at a CAGR of 5.15% as per the latest Technavio market research report. Increasing participation rate in skiing and other snow sports is notably driving the market growth. Factors like a rising young population, escalating disposable income, and increasing awareness of the health and fitness advantages associated with snow sports have led to a surge in participation rates for skiing and related activities. For instance, during the 2019-2020 winter season, approximately 25.1 million Americans aged six and above engaged in winter sports. Market players are adopting diverse marketing tactics to enhance familiarity with snowboarding, skiing, and similar endeavors to establish their presence in the market. Capitalizing on technological advancements, consumers are increasingly inclined towards convenient shopping avenues like online platforms. Accordingly, vendors are proactively exploiting online distribution channels for the marketing and sale of their offerings. These factors are poised to drive the growth of the global ski gear and equipment market throughout the forecast period. Discover insights on market size before buying the full report- Download sample report

Ski Equipment Market: Segment Overview

This market research report segments the ski equipment market by product (skis and poles, ski boots, ski bindings, ski protective gear, and others) and geography (Europe, North America, APAC, South America, and Middle East and Africa).

  • The ski equipment market share growth in the ski and poles segment will be significant during the forecast period. In North America and Europe, skiing is a popular sport due to the presence of many mountainous regions that receive heavy snowfall. The International Ski Federation or Federation Internationale de Ski (FIS) is the highest governing body for all ski sports. 

Geography Overview:

  • Europe is estimated to contribute 45% to the growth of the global market during the forecast period. France, Austria, and Italy stand out as pivotal markets for the ski gear and equipment industry within Europe. Several factors are set to propel this growth, including a notable increase in female participation, supportive governmental initiatives, the wellness-oriented appeal of snow sports, and the proliferation of snow sports venues and resorts. These combined dynamics are expected to facilitate robust growth in the European ski gear and equipment market throughout the forecast period. 

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Market Dynamics 

Recent trends influencing the market

The rising trend of freeride skiing is one of the major trends influencing the ski gear and equipment market growth. Freeride skiing encompasses a style of snowboarding or skiing conducted on natural, ungroomed terrain without predetermined courses, objectives, or regulations. The advancement of this sport is being propelled by a variety of tournaments, particularly in Europe and North America, contributing to the focal point of market growth. The sport’s popularity is linked to heightened public awareness of fitness regimens, a notable uptick in consumer expenditure, the prevalence of numerous snowboarding destinations in North America and Europe, and substantial growth in tourism activities. Notably, the Freeride World Tour, held on January 22, 2022, in Spain, featured elite free riders and snowboarders engaging in five events. Safety in freeride skiing necessitates appropriate equipment, with specific requirements varying according to prevailing conditions. Such factors fuel the market growth during the forecast period.

Major challenges hindering the market growth

The increasing availability of counterfeit products is a major challenge hindering the ski gear and equipment market growth. E-commerce platforms have become a platform for the sale of counterfeit sports equipment, imitating authentic originals. These replicas are offered by unregistered vendors, causing complications for both established manufacturers and potential buyers. The prevalence of counterfeit ski equipment, visually similar to the genuine articles, poses a challenge as distinctions are primarily based on quality and durability. The increasing distribution of such counterfeit items could lead consumers to struggle to distinguish between genuine and fake products. Consequently, the surge in counterfeit product availability is anticipated to impede market growth and negatively impact the reputation of legitimate ski equipment manufacturers during the forecast period.

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find more insights from a sample report!

What are the key data covered in the Ski Equipment Market reports:

  • Historic Market size
  • Company landscape and analysis including Aldi Group, Amer Sports Corp., Burton Corp., Clarus Corp., Decathlon SA, ELAN DOO, Fischer Sports GmbH, Group Rossignol USA Inc., Icelantic LLC, INEMOTION INC., Inkwell Helmets Inc., LIVALL Tech Co. Ltd., NB NewBoots SA, Ober Alp SPA, Rhythm Snow Sports, Rottefella AS, Tecnica Group Spa, TYPS GmbH, and Volkl Int. GmbH
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Related Reports:

The snow sports apparel market is estimated to grow at a CAGR of 6.12% between 2022 and 2027. The market size is forecasted to increase by USD 1,557.44 million. This report extensively covers market segmentation by product (alpine apparel and snowboard apparel), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The rising popularity of winter sports is notably driving market growth.

The sports equipment market size is estimated to grow at a CAGR of 6.43% between 2022 and 2027. The market size is forecast to increase by USD 60.3 billion. This report extensively covers market segmentation by product (ball games, fitness/strength equipment, ball over net games, athletics training equipment, and others), distribution Channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa). One of the key factors driving the sports equipment market growth is the rising health and fitness awareness among individuals.

Ski Equipment Market Scope

Report Coverage

Details

Base year

2021

Historic period

2017-2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.15%

Market Growth 2022-2026

USD 473.54 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.04

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 45%

Key countries

US, Japan, France, Austria, and Italy

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Aldi Group, Amer Sports Corp., Burton Corp., Clarus Corp., Decathlon SA, ELAN DOO, Fischer Sports GmbH, Group Rossignol USA Inc., Icelantic LLC, INEMOTION INC., Inkwell Helmets Inc., LIVALL Tech Co. Ltd., NB NewBoots SA, Ober Alp SPA, Rhythm Snow Sports, Rottefella AS, Tecnica Group Spa, TYPS GmbH, and Volkl Int. GmbH

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product 

7 Market Segmentation by Geography 

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Technavio

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

Originally published at https://www.prnewswire.com/news-releases/ski-equipment-market-to-grow-by-usd-473-54-million-from-2021-to-2026–increasing-participation-rate-in-skiing-and-other-snow-sports-to-boost-the-market-growth—technavio-301919810.html
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