SKI GEAR AND EQUIPMENT MARKET ANALYSIS

Ski gear & equipment such as skis, helmets, boots, and poles among others, are used in skiing winter sports to glide through snow. Cambered ski was developed in Norway, used by farmers or hunters and has been transformed into a sporting activity, ever since. Increasing investment in ski infrastructure for the development of skiing is one of the factors driving growth of the ski gear & equipment market. For instance, in January 2018, Les 3 Valless, the ongoing expansion and improvement in the ski resort infrastructure includes lifts, which encourage skiers to enjoy more of the existing marked ski run in the network.

 Global ski Gear and Equipment market was valued at US$ 1,332.4 Million in 2021, in terms of revenue, exhibiting a CAGR of 2.9% during the forecast period (2022 to 2030).   

Drivers

The market is driven by an increasing number of participants in outdoor sports such as skiing, along with favourable government initiatives in countries, such as India, China, and Japan, on encouraging the population to participate in skiing. Ski gear and equipment’s are more economical, less labour-intensive, and more sustainable when compared to fold towel and box towel, which is expected to drive growth of the market.

Among regions, North America is expected to hold the dominant market for ski gear & equipment and accounted for a market share of 25.9% in 2021. This growth is primarily driven by increasing skier visits in the region. According to the Destination British Columbia, North America combined with South America, both regions accounted for 27% of skier visits and in the U.S., 59 million skier visits are recorded annually, accounted for 19% of the global total during 2021.

Figure 1. Global Ski Gear & Equipment Market Value Share (%), By Region, 2021

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Market Restraints

Lack of universal directives pertaining to applications of the global Ski Gear & Equipment  is expected to restrain market growth during the forecast period. Every country has different directives pertaining to use and applications of Ski Gear and Equipment. Key players find it difficult to cope with such country wise regulations, which in turn is discouraging investment in the Ski Gear & Equipment industry, thereby restraining the market growth.

Market Trends

Key players are focused on launching new products to expand their product portfolio is the key trend in the global ski gear & equipment market. For instance, in March 2019, Backcountry, online retail company, launched gearhead certified product that includes Backcountry touring collection which is a set of products specific to split boarding and ski touring. .

Figure 2. Global Ski Gear & Equipment Market Value Share (%), By Product Type, 2021

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Among product type, the helmet segment is projected to witness a significant growth over the forecast period, owing to increasing use of helmet in skiing, as it help to protect or reduce risk of head injuries from collisions or falls. According to the U.S. Consumer Product Safety Commission, the use of helmet by snowboarders or skiers can prevent around 44% of head injuries to adults and 53% in case of children below 15 years of age.

Recent Developments

• On May 6, 2022, Amer Sports and Liesheng have completed the transaction in which Amer Sports divests Suunto to Liesheng. Amer Sports’ strategy is to focus on developing internationally recognized sporting goods brands within the lifestyle, apparel, and footwear segments with a strong focus on direct-to-consumer channels, as well as an enhanced presence in large markets such as China and the U.S.
• On Jan 10, 2022, Amer Sports and Liesheng − a leading Chinese technology company agreed on a transaction in which Amer Sports divests Suunto to Liesheng. Amer Sports’ strategy is to focus on developing internationally recognized sporting-goods brands within the lifestyle, apparel, and footwear segments, shifting more business to D2C (direct-to-consumer) channels, as well as enhancing its presence in large markets such as China and the US.
• On March 18, 2021, Black Diamond Equipment, the global innovator in climbing, skiing, mountain sports equipment, and apparel announced its partnership with NuORDER, the premiere wholesale B2B e-commerce platform. Beginning with the FW21 buying season, Black Diamond will conduct all its wholesale practices through the digital buying platform.

Competitive Section

Major players operating in the global Ski Gear & Equipment  market include Amer Sports Oyj, Black Diamond Equipment, Ltd., Coalition Snow, Fischer Beteilgungsverwaltungs GmbH, Helly Hansen, Icelantic LLC, Marker Volkl (International) Sales GmbH, Skis Rassignol S.A., The Burton Corporation, and Volcom LLC.