Adventurous sports are popular among youth, so the popularity of skiing is growing in the worldwide are the leading factors expected to drive the global Ski Equipment Market during the forecast period.
According to TechSci Research report, “Ski Equipment Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028” The global ski equipment market is expected to grow during the forecast period owing to increasing tourism industry about wearing ski equipment among consumers to reduce the risk of head injury and the impact on knee injuries and fractures, etc. Additionally, an increase in consumer spending capabilities on vacation is driving the growth of the ski equipment market.
The clothing segment dominated the market with higher revenue due to the popularity of innovative and modern designs for the many forms of ski clothing, such as jackets, suits, pants,. Ski clothing manufacturers are concentrating on releasing and developing innovative products to fulfill the demand through innovative technology. For instance, in 2022, Dior launched new men's ski capsule collection, which includes an assortment of body armor, helmets, and ski masks made in collaboration with Swedish company POC.
The helmet is the fastest-growing market segment and is expected to grow further during the forecast period from 2022 to 2028. The rise in snow sports-related injuries explains this expansion. They have developed a smart ski airbag suit with customer concerns for safety to protect skiers from harm if a collision occurs. To protect against injuries after a fall or slide, the suit detects into an airbag. It is anticipated that these new products which the industry leaders have introduced in consideration of client safety will continue to be advantageous.
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The North American region is expected to continue to dominate the global market. Skiing as a leisure activity is quite popular in nations such as the U.S. and Canada. That's why there has been such a tremendous development in the market for ski equipment. Moreover, the demand for ski equipment is also expected to rise as soon as more women take an interest in skiing owing to companies introducing new innovative products and technological advancement for women's safety, leading to market growth.
The market in Asia Pacific is expected to grow in the coming years. Increasing national game authority (International Ski Federation (FIS)) initiatives on snow-related sports and activities is accountable for increasing the market. The skiing program was created as a part of the Winter Olympics, organized by the International Ski Federation (FIS), to promote skiing in China and help grow the snow sports industry worldwide.
Furthermore, increased skiing involvement and more understanding of the various types of skiing are anticipated to boost the ski equipment market over the forecasted period. Furthermore, the growing number of ski resorts and government initiatives to encourage skiing participation are expected to drive the market forward in the coming years.
Major industry competitors, including Decathlon America LLC, Black Diamond Equipment Ltd, and Fischer Sports GMbh, are concentrating on creating innovative products for ski equipment and making them comfortable. Additionally, the Ski company launched the ski and snowboard rental platform "Snowrental.co.uk, specifically for the U.K. market, a store that is a part of the Ski Company network of shops around Europe that also includes SKISET, SKIMIUM, and NETSKI, which will increase the market demand during the forecast period.
The ski equipment market is segmented based on product type, application, end-use, and distribution channel. Based on product type, the market is divided into ski poles, ski boots/snowboard boots, ski snowboards, ski bindings, ski clothing, and others (helmets, gloves, goggles). Based on application, the market is split into nordic skiing, alpine skiing, snowboarding skiing, and telemark skiing. The market is divided into men, women, and kids based on end use. Based on distribution channel, the market is fragmented into hypermarkets/supermarkets, specialty stores, sports shops, online, and others (direct sales, distributors & dealers).
Key market players in the ski equipment market include:
- Decathlon America LLC
- Black Diamond Equipment Ltd
- Fischer Sports GMbh
- Groupe Rossignol
- Tecnica Group S.p.A.
- The Burton Corporation
- Amer Sports Corporation
- Icelantic LLC
- Coalition Snow
- Helly Hansen
The spread of Covid-19 across regions resulted in lockdowns, border restrictions, and transportation network breakdowns. As a result, snow sports activities were closed, affecting product demand. Fear of the virus spreading restrained the growth of the ski equipment market. However, after the lockdown was lifted, the market gained popularity and is expected to increase steadily during the forecast period.
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"New product innovation and technological advancement in the ski equipment market increase the demand, increasing exciting and adventurous sports among youth, increasing sports infrastructure, the popularity of different types of skiing, and availability of online stores of ski equipment, etc. is expected to boost the industry growth in the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Ski Equipment Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product Type (Ski Poles, Ski Boots/Snowboard Boots, Ski Snowboards, Ski Bindings, Ski Clothing and Others (Helmet, Gloves, Googles)). By Application (Nordic Skiing, Alpine Skiing, Snowboarding Skiing, Telemark Skiing). By End Use (Men, Women and Kids), By Distribution Channels (Hypermarkets/Supermarkets, Specialty Stores, Sport Shops, Online, Others (Direct Sales, Distributors & Dealers), By Region, Competition”, has evaluated the future growth potential of ski equipment products and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in ski equipment market globally.
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