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).
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
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.
|Base Year:||2021||Market Size in 2021:||US$ 1,332.4 Mn|
|Historical Data for:||2017-2021||Estimated Year:||2022|
|Forecast Period 2022 to 2030 CAGR:||2.9%||Forecast Period:||2022-2030|
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
|Restraints & Challenges:||
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
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.
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.
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 the global ski gear & equipment market. For instance, 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.
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:
“*” marked represents similar segmentation in other categories in the respective section