Ski Gear and Equipment Market - Growth, Trends, and Forecast (2020 - 2025)
The global ski gear and equipment market is projected to grow at a CAGR of 3.62% during the forecast period.
- Increasing participation rate 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 the changing needs and demands of consumers by using advanced technology.
- In recent years, the number of women participants in various sports has gone up globally including snow sports such as skiing, therefore vendors are introducing ski gear & equipment specifically for women.
Key Market Trends
Growing Number of Resorts Drives the Ski-Gear Market in Ski Destinations
The ski industry is largely dependent on the snow season, where participation appears to have levelled off, or is maintaining slight growth, in traditional territories, such as the United Kingdom, mainland Europe, and the United States; there is an increasing interest among citizens of countries, such as Russia and China. 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. Popular destinations in Europe, such as Chamonix, St Moritz, Val Thorens, Kitzbuhel among others have been catering to the winter sports market in the region. Overall, the region boasts around 3,647 ski resorts, where affordable resorts were becoming more prominent over the last year.
Europe Remains a Prominent Region in the Market
For years, Europe has been the world's premier destination for skiers with resorts dotted across the Alps and Pyrenees gaining excellent reputations. The rest of the world has turned the heat up on Europe, however, and these days, the U.S. has the most skier visits of any single country per season. The most suitable skiing conditions are found in North America and the northern parts of Europe and Asia-Pacific. Few of the major countries engaged in organizing in skiing as a sport are the United States, Canada, Austria, Japan, Switzerland, Canada, and Germany. Thus, there is a potential demand for ski gear and equipment in these countries. The demand for ski equipment is likely to boom in the Asia-Pacific region as China will be hosting the upcoming Winter Olympics in 2022.
The global ski gear & equipment market is a highly consolidated market and comprises many big and mid-sized competitors. There is an 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.
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