Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Ski Equipment & Gear market.
Trusted Business Insights presents an updated and Latest Study on Ski Equipment & Gear Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Ski Equipment & Gear market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Ski Equipment & Gear Market
The global ski equipment & gear market size was valued at USD 1.4 billion in 2018 and is anticipated to expand at a CAGR of 2.7% over the forecast period. The market is driven by increasing number of participants in the outdoor sports such as skiing, along with favorable government initiatives in countries, such as India, China, and Japan, on encouraging the population to participate in skiing.
Growing tourism industry may also drive the customers to take part in snow sports including ski. According to the World Bank Group, the international tourist arrivals have increased from 1.24 billion in 2016 to 1.33 billion in 2017. In addition, number of participants in the snow sports has increased on account of increasing awareness regarding different types of ski including Alpine skiing, ski touring, and cross-country skiing.
The global ski equipment & gear market is expected to witness an increase in the demand on account of commercialization of the sport and the smooth and safe experience of the sport with various types of ski equipment and gears. Increasing awareness regarding the usage of helmets and other ski equipment and gear on account of rising concerns over injuries caused from skiing is anticipated to promote market growth in the coming years.
The infrastructure for snow sports, including skiing, is developing around the globe, on account of increasing customer preference for snow related activities and tourism activities. These favorable trends of developing the snow sports infrastructure are expected to promote the scope of ski equipment and gear products in the near future.
Product Insights of Ski Equipment & Gear Market
Clothing dominated the market with a revenue of USD 441.2 million in 2018. This growth is attributed to increased acceptance of advanced and new designs of the various types of ski clothing including jackets, ski suit, ski pants, and a moisture wicking base layer. The ski clothes manufacturers are focused on launching and developing innovative products to meet the changing demand and needs of the customers by advanced technology. For instance, in 2016, Helly Hansen launched radar-sensitive pants for skiing. These radar-sensitive pants have updated rescue system, which reflects the location of the person, if the skier is trapped in snow.
Headgear is expected to be the fastest growing segment, expanding at a CAGR of 3.3% from 2021 to 2026. This growth is attributed to increasing number of injuries related to snow sports. Considering the safety of the customers, In&Motion has launched smart ski air bag suit to prevent the skiers from any injuries on collision. The suit detects the movements of the person and expands into an airbag to protect injuries during fall or slip. These new launches by the market leaders on consideration of the safety of the customers are expected to remain a favorable factor.
Distribution Channel Insights
Supermarkets/hypermarkets generated a revenue of USD 600.8 million in 2018. Easy availability of ski equipment and gear products in the supermarkets/hypermarkets help the customers to choose a wide range of products. These factors are anticipated to boost the growth of this distribution channel in the near future.
The online segment is expected to expand at a CAGR of 3.2% from 2021 to 2026 on account of introduction of various e-commerce portals, which provide value added services including cashback benefits. Companies such as decathlon.in, snowinn.com, and skis.com are coming up with new online services for delivering the products at the doorsteps of the customers.
Application Insights of Ski Equipment & Gear Market
Males are the major consumers of these products, accounting for a share of 42.4% in 2018. Increasing awareness regarding skiing as a key part of recreational activity among working class male adults in developed economies including Germany, France, and U.K. is expected to remain a key trend.
The female segment generated a revenue of USD 478.8 million in the year 2018. Companies including Coalition Snow are developing advanced and safety gears, especially for female skiers. Moreover, females are participating in the outdoor sports and activities related to snow for recreational purposes.
Regional Insights of Ski Equipment & Gear Market
North America was the dominant regional market, accounting for a share of 42.4% in 2018. This growth is attributed to the strong foothold of buyers participating in skiing as a recreational activity in countries such as U.S. and Canada. Moreover, increasing number of women skiers on account of introduction of new products and technologies for women safety by the companies is expected to increase the demand for ski equipment and gear in the upcoming future.
Asia Pacific is expected to expand at a CAGR of 3.4% from 2021 to 2026. This growth is attributed to increasing government initiatives on snow related sports and activities. In 2018, Get into Snow Sports (GISS) initiative was taken in China. This initiative was launched as a part of Winter Olympics, which was build up by the International Ski Federation (FIS) to develop and promote the snow sports globally and to encourage ski in China.
Market Share Insights of Ski Equipment & Gear Market
Keymarket players include Amer Sports Oyj, The Burton Corporation, Fischer Beteilgungsverwaltungs GmbH, Skis Rassignol S.A., Icelantic LLC, Volcom LLC, Marker Volkl (International) Sales GmbH, Helly Hansen, and Coalition Snow. The companies are developing new product designs according to the latest consumer preferences for fashion and safety in order to acquire a larger market share. For instance, in January 2018, Thule Group has launched a new collection for ski backpacks and snowboards, designed along with flexible and removable airbags for protection.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Ski Equipment & Gear Market Research Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global ski equipment and gear market report on the basis of product, application, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2019 – 2030)
Ski and Poles
Application Outlook (Revenue, USD Million, 2019 – 2030)
Distribution Channel Outlook (Revenue, USD Million, 2019 – 2030)
Quick Read Table of Contents of this Report @ Ski Equipment & Gear Market Size, Share, Global Market Research and Industry Forecast Report 2025 (Includes Business Impact of COVID-19)
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