Ski Gear and Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

The global ski gear and equipment market is expectedd to register a CAGR of 3.7% during the forecast period.

Key Highlights

• The snowy season is extremely important to the ski industry. The demand for ski equipment is predicted to increase due to expanding ski infrastructure, increased helmet usage, and expanding attempts to increase skiing participation. It is observed that people's awareness regarding the use of ski equipment, such as helmets, etc., is growing gradually due to increasing safety concerns.
• Therefore, increasing awareness among people is expected to boost the studied market during the forecast period. Increasing participation rates in outdoor activities like skiing and other snow sports, increasing government initiatives to encourage participation in skiing, and growth in the number of ski resorts are some of the major factors driving the sales of ski gear & equipment globally.
• Manufacturers of ski gear & equipment are more focused on developing and launching new and innovative products to fulfill consumers' changing needs and demands using advanced technology. In recent years, the number of women participating in various sports has increased globally, including snow sports such as skiing.
• Therefore vendors are introducing ski gear & equipment specifically for women. While during the forecast period, the market expansion is anticipated to be constrained by a lack of global regulations about ski gear and equipment applications. Regarding the use and applications of ski equipment, each nation has its regulations.
• Key players need help to comply with such national laws, discouraging investment in the Ski Gear & Equipment sector and restraining market expansion. Compared to fold towels and box towels, ski gear and equipment are more affordable, less labor-intensive, and environmentally friendly, likely stimulating market expansion.

Ski Gear & Equipment Market Trends

Growing Number of Resorts Drives the Ski-Gear & Equipments Market

• The ski industry mainly depends on the snow season, where participation appears to have leveled off or is maintaining slight growth in traditional territories, such as the United Kingdom, mainland Europe, and the United States. Citizens of countries such as Russia and China also have an increasing interest.
• The market in the United Kingdom, according to holiday firm SkiWeekends, is worth close to 3 billion pounds, where more than two-thirds of those who ski are aged between 43 to 65 years. Popular destinations in Europe, such as Chamonix, St Moritz, Val Thorens, and Kitzbuhel, among others, have been catering to the winter sports market in the region.
• Overall, the region boasts around 3,647 ski resorts, with affordable resorts becoming more prominent over the last year. The size of resorts has also changed since consumers’ preferences for covering more distance and area in a day have witnessed a massive demand.

North America and Europe Remains a Prominent Region in the Market

• In the local winter sports market, skiing is the most eagerly anticipated sport, followed by snowboarding. The European region is expected to experience significant growth. Numerous sporting events have been held in nations including France, Austria, Switzerland, Spain, and Germany, some of Europe's most popular ski destinations.
• They have created the necessary infrastructure to encourage more people to engage in physical activity, which has increased demand for winter sports throughout the European region. Alpine touring is anticipated to be the main factor driving the European region's winter sports equipment market.
• European tourist hotspots, including Chamonix, St. Moritz, Val Thorens, and Kitzbuhel, among others, have been helping to promote winter sports in the area. Additionally, several regulatory bodies and sports groups, including the German Skiing Association, actively assist the competitors by sponsoring top-notch gear and apparel to improve their performance throughout various contests. Thus, it is anticipated that throughout the projection period, the market will rise due to the region's widespread adoption of winter sports and good government backing.
• In October 2021, according to the Cross Country Ski Areas Association Survey conducted with respondents including United Stated and Canada Skiers stated that 98% of respondents opted for cross-country skiing in 2021-2022, and 41% had already purchased passes. Among these, the majority of skiers (61%) ski alone, followed by 44% ski with their spouses, 41% with friends, 20% with children, and 16% with their dogs. It was found that most skiers participated during their weekdays rather than weekends.
• Also, it is expected that their participation is going to increase further. The survey also stated that around 34% of people opt to buy ski equipment. Additionally, skiing is considered one of the most significant sports in Germany, as skiing alone constitutes 13% of the total consumer spending.

Ski Gear & Equipment Market Competitor Analysis

The global ski gear & equipment market is highly consolidated and comprises many big and mid-sized competitors. There is intense competition between the key vendors, leading to the introduction of many innovative ski gears & equipment in the market. Major Key Players are Anta International Limited (Amer Sports Oyj), Kohlberg & Company LLC, Groupe Rossignol, and Tecnica Group S.p.A, among others. The leading players in the market entered into mergers, acquisitions, and partnerships with a focus on expanding their presence in the global market. Potential players partner with retailers, branded sports distributors, manufacturers, and ski event organizers to achieve deeper market penetration.

Additional benefits of purchasing the report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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