Impact Analysis of Covid-19
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.