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Press Release: Global Ski Gear & Equipment Market to Surpass US$ 1,439.4 Million by 2025
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Ski Gear & Equipment – Insights
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.
Among product types, 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. Among applications, the alpine skiing or downhill segment is projected to witness significant growth over the forecast period due to increasing number of alpine skiers as compared to others. According to Snowsport Industries America (SIA), the total percentage of alpine skiers was 26.5%, whereas that of cross-country skiers was 10.6% in 2013.
Figure 1. Global Ski Gear & Equipment Market Share, by Distribution Channel, 2017
Among distribution channels, the supermarket segment held a significant share in the global ski gear & equipment market in 2016. The supermarket distribution channel is expected to grow, owing to various discount offered by these channels. For instance, in November 2016, Aldi, high street supermarket, launched discounted ski gear lessons and range of ski gear & equipment at the CairGorm mountain and became first supermarket to offer ski gear lessons.
Asia Pacific holds the fastest-growing market for ski gear & equipment owing to increasing government initiatives to encourage ski participation. For instance, in August 2017, skiing initiative “Get Into Snow Sports (GISS)” was launched in China as a part of Winter Olympics build-up by International Ski Federation (FIS) Academy to promote and develop the sport globally and to create new ski culture in China.
North America is expected to hold the dominant market for ski gear & equipment and accounted for a market share of 25.9% in 2017. 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 22% of skier visits and in the U.S., 57 million skier visits are recorded annually, accounted for 15% of the global total during 2011-2012.
Furthermore, various players are focused on launching new products to expand their product portfolio, which in turn propelling the growth of ski gear & equipment market. For instance, in March 2018, 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.
The ski gear & equipment market was valued at US$ 1,199.9 million in 2017 and is expected to expand at a CAGR of 2.9%, in terms of revenue over the forecast period (2018 – 2025).
Figure 2. Global Ski Gear & Equipment Market Share, by Region, 2017
Source: Coherent Market Insights (2018)
Major Players in the Global Ski Gear & Equipment Market
Some of the key players operating in the global ski gear & equipment market are Amer Sports Oyj, Fischer Beteiligungsverwaltungs Gmbh, Black Diamond Equipment, Ltd., Skis Rossignol S.A., The Burton Corporation, Coalition Snow, Helly Hansen, and Volcom LLC.
Skiing is a winter sport in which the participants use skis to glide on snow. Traditionally, such sports were played only in cold areas during winters, however, artificial ice and snow allows for enhanced flexibility. Increasing participation in skiing activities coupled with growing initiatives to encourage skiing participation, is expected to boost growth of ski gear & equipment market. Around 57.4 million skiers and snowboarders visited the U.S. during 2013–2014, as per stats released by National Ski Areas Association (NSAA).
Also, in June 2017, International Ski Federation (FIS), Sports Organization and Alisport entered into a partnership to develop 30 million snow sport participants in China, which aids in the growth of ski gear & equipment market.
However, increasing fatalities or injuries caused while skiing, is expected to hinder growth of skiing industry, in turn negatively impacting the market growth. According to National Ski Areas Association (NSAA), 39 fatalities occurred during 2015-2016 and increased to 44 fatalities during 2016-2017.
Market Dynamics
North America is expected to show significant growth in the global ski gear & equipment market, owing to increasing international trading activities. According to the U.S., the total value of import in ski and snowboard equipment market increased by 9.7% since 2009 to a total of 115 million in 2013.
Asia Pacific is expected to be the fastest-growing region in the global market over the forecast period. This is attributed to supportive government initiative to increase ski sport participation. For instance, in August 2017, Get Into Snow Sport (GISS), Skiing initiative to be launched in China as a part of Winter Olympics build-up. This initiative operates through a partnership between the International Ski Federation (FIS) and Beijing Sports University in collaboration with the Chinese Ski Association.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 180 market data tables and 110 figures on "Global Ski Gear & Equipment Market - Global forecast to 2025”.
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