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The market trends and analysis report provides a comprehensive analysis of key factors driving market growth, including the rising popularity of skiing and other snow sports, increasing engagement in ski touring and blogging, and the high cost associated with ski equipment. The report delves into these factors to understand their impact on the market dynamics and consumer behavior. It explores how these trends influence market expansion, product development, and consumer preferences. Additionally, the report examines the challenges posed by the high cost of this equipment and the strategies adopted by industry players to mitigate these challenges.
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Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches to enhance their presence in the market.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Burton Corp., Clarus Corp., Crosson, Decathlon SA, Fischer Sports GmbH, Gi.Di. Meccanica S.p.A., Icelantic LLC, INEMOTION INC., K2 Sports Europe GmbH, KJK Sports, Kneissl Tirol GmbH, LIVALL Tech Co. Ltd., Ober Alp SPA, Rhythm SnowSports, Group Rossignol USA Inc., SKIWAX, Stöckli Swiss Sports AG, Tecnica Group SpA, and Volkl Int. GmbH
Qualitative and quantitative analysis of market growth and trends of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, market growth and forecasting it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market offers a diverse range of products essential for skiing, including skis, helmets, boots, and poles. With advancements like cambered skis, enthusiasts, including farmers and hunters, engage in this exhilarating sporting activity. Government initiatives promote ski infrastructure, fostering growth in the market. From the Olympics to recreational skiing, demand for equipment and clothing persists. Ski resorts worldwide cater to this thriving ski industry, offering skiing apparel and facilitating various outdoor activities. With a focus on safety and performance, manufacturers continually introduce new and innovative products driven by advanced technology. As more women participate in sports, global regulations and national laws ensure accessible and affordable resorts across diverse distance and areas. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Increasing participation rate is the key factor driving the market. Factors such as the rising young population, increasing disposable income, and growing awareness of the health and fitness benefits of snow sports have spurred a surge in participation rates in skiing and others. Moreover, factors like hectic lifestyles, unhealthy eating habits, and a rise in the obese population are further fueling the growing popularity of outdoor activities, including snow sports, thereby driving the demand for ski gear & equipment.
Furthermore, market players are implementing various marketing strategies to raise awareness about snowboarding, ski equipment, ski clothing, ski resorts, the ski industry, and skiing apparel to penetrate the market. With advancements in technology, consumers are increasingly seeking more convenient shopping platforms such as online shopping. Global skiing equipment market players are actively leveraging online distribution channels to market and sell their products. Thus, such factors are expected to support the growth of the market during the forecast period.
Increasing touring and blogging is the primary trend shaping the market. Many people are increasingly blogging and vlogging about their travel, capitalizing on the increased internet penetration. Professional athletes of snow sports are creating live challenges to make new content for online sharing platforms. Similarly, numerous sports vloggers post videos about their snow adventures, such as skiing, on their YouTube channels.
Moreover, the vloggers give a detailed description of live snow game challenges, which include information such as place, the total cost of the snow game challenge, equipment to be used, and commute information. Such content encourages other players to engage in snow activities and challenges, which, in turn, will contribute to the growth of the market in focus during the forecast period.
The high cost is a major challenge that affects market expansion. Winter sports require much higher investments than summer games, and the same is true of the ski gear and equipment associated with snow games. According to the International Olympic Association (IOA), the cost per athlete for the Winter Games is approximately twice as costly as the Summer Games. The average cost per athlete amounts to USD 700,000 for summer games, in which apparel accounted for approximately 20%, while the cost per athlete for winter games is around USD 1.3 million, in which apparel accounted for approximately 40%.
Furthermore, the cost of ski gear and equipment has increased over the past few years. The average ski jacket costs between USD 40 and USD 250. Specific materials and technologies are used in the manufacturing of these equipment to keep the players safe and warm. This equipment is considered luxury equipment. Thus, the high cost is likely to hamper the growth of the market during the forecast period.
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The ski and poles segment will account for a major share of the market's growth during the forecast period.?Ski poles are used to help push the skier along flat areas and for pole planting in intermediate and advanced skiing. There are different kinds of ski poles available for sale, which are intended for different types of skiing or made from different materials. A ski poles length is normally measured in centimeters, from the top of the grip to the end of the tip. Skiing is a popular sport in North America and Europe due to the availability of many mountainous regions that receive heavy snowfall. The ski and poles segment was valued at USD 712.88 million in 2018. Furthermore, the significant growth in skiing infrastructure and development around the world, the proliferation of skiing tournaments, and a substantial rise in the number of women participants in skiing are the factors driving the growth of the skis and poles segment in the skiing equipment market during the forecast period.
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The market is segmented by distribution channel into two categories offline and online. The offline?segment will account for the largest share of this segment.?
Europe is estimated to contribute 48% during the forecast period.
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. A surge in the number of female participants, favorable government support, the popularity of snow games for fitness, and the increasing number of arenas/resorts for snow games will drive the market in Europe. The top three countries in ski equipment in Europe are France, Switzerland, and Italy. Russia, the UK, Germany, Italy, France, Sweden, Switzerland, and the Czech Republic are some of the other cross-country skiing for the winter games in the region.
Moreover, a surge in the number of participants in the winter games and favorable government support to enhance the infrastructure for the winter games will positively impact the market. A rise in the adoption of winter sports activities as a recreational and fitness activity and the emergence of innovative equipment will help the regional market grow at a rapid rate. However, certain factors can inhibit market growth during the forecast period.
The global ski gear & equipment market experiences a steady growth trajectory, with a CAGR (Compound Annual Growth Rate) reflecting its increasing global revenue size. As the number of people participating in outdoor sports rises, governments worldwide, including India and China, promote adventure sports through initiatives. North American and European countries invest in snow sports infrastructure to cater to the growing demand for skiing-related activities and boost tourism. Despite concerns about accidents and injuries, including head injuries, the market continues to thrive, driven by consumer demand for quality ski clothing and safety gear like helmets.
Additionally, with the impact of the pandemic and efforts to revive the ski industry, including ski resorts and luxury products, the market remains resilient, catering to both male and female skiers alike. Collaboration with government agencies and initiatives like China's Get into Snow Sports (GISS) campaign and events like the Winter Olympics further bolster the market's growth. Further, in the market, government initiatives drive growth, particularly in North American countries and mainland Europe, where the global skiing sports sector thrives. Despite challenges posed by the COVID-19 outbreak, customer demand for snow-related activities persists, with a significant increase in women participating in sports.
Furthermore, safety concerns addressed by organizations like the USA Consumer Product Safety Commission aim to reduce skiing-related injuries. Luxury products and services cater to recreational activity, attracting tourists and winter sports athletes to destinations like Aspen skiing. The market offers diverse products, from jackets and ski suits to smart ski airbag suits, available through various channels, including supermarkets/hypermarkets and online segments like Decathlon.in and Snowinn.com. The Alpine skiing segment remains dominant. Collaborations with organizations like the international ski federation (FIS) and initiatives like get into snow sports (GISS) further propel the market forward, ensuring continued growth and innovation in skiing sports events and outdoor sports activities.
Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2023 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.33% |
Market Growth 2024-2028 |
USD 430.2 million |
Market structure |
Fragmented |
YoY growth (%) |
4.21 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 48% |
Key consumer countries |
US, Japan, France, Austria, and Italy |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
ANTA Sports Products Ltd., Burton Corp., Clarus Corp., Crosson, Decathlon SA, Fischer Sports GmbH, Gi.Di. Meccanica S.p.A., Icelantic LLC, INEMOTION INC., K2 Sports Europe GmbH, KJK Sports, Kneissl Tirol GmbH, LIVALL Tech Co. Ltd., Ober Alp SPA, Rhythm SnowSports, Group Rossignol USA Inc., SKIWAX, Stöckli Swiss Sports AG, Tecnica Group SpA, and Volkl Int. GmbH |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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