The Global Ski Gear And Equipment Market is estimated to be valued at US$ 1410.8 Mn in 2023 and is expected to exhibit a CAGR of 2.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Ski gear and equipment refers to products such as skis, poles, boots, bindings, and protective gear used for skiing. Ski apparel includes jackets, insulated pants, helmets, and goggles. Ski equipment helps provide stability, mobility, and protection for skiers on snow.
Market key trends:
The growing participation in snow sports along with rising disposable incomes is driving demand for technologically advanced ski gear and equipment. Many ski equipment manufacturers are focusing on product innovation and introducing equipment made with lightweight yet durable materials for enhanced performance. For instance, skis are now being manufactured using carbon fiber and other composite materials for lower weight and higher strength. Similarly, ski boots feature innovative designs for improved comfort and performance. Moreover, waterproof and breathable fabrics are increasingly used in ski apparel to keep skiers dry and comfortable.
SWOT Analysis
Strength: Wide variety of product offerings from brands and innovative product development.
Weakness: High costs of premium ski gears make them inaccessible for price-sensitive customers.
Opportunity: Untapped growth potential in emerging ski destinations provides new market opportunities.
Threats: Threat from other winter sports like snowboarding reducing focus solely on skiing. Stringent regulations regarding material usage can increase production costs.
Key Takeaways
The Global Ski Gear And Equipment Market was valued at US$ 1410.8 Mn in 2023. The market is expected to grow at a CAGR of 2.9% during the forecast period due to increasing popularity of adventure sports among millennials and generation Z.
North America dominated the market with over 30% share in 2023 owing to high participation in skiing sports. Europe is another leading region on the back of strong presence of Alps mountain ranges supporting ski resorts.
Key players operating in the ski gear and equipment market include Amer Sports Oyj, Black Diamond Equipment, Ltd., Coalition Snow, Fischer Beteiligungsverwaltungs GmbH, Helly Hansen, Icelantic LLC, Marker Volkl (International) Sales GmbH, Skis Rassignol S.A., The Burton Corporation, and Volcom LLC. These players are focusing on new product development and innovations to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
