Ski Gear & Equipment Market

Ski Gear & Equipment Market Outlook – 2030

The ski industry is largely dependent on the snow season. Demand for ski gear is anticipated to rise due to increasing ski infrastructure, rising usage of helmets, and increasing number of initiatives to boost the participation in skiing. The number of people pursuing skiing as a recreation is more than the number of professional skiers. 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. Due to increasing concerns about the injuries caused by skiing, people’s awareness of the use of helmets and other ski equipment continues to increase, which is expected to promote market development during the forecast period. These trends of evolving snow sports infrastructure are anticipated to boost the scope of ski equipment & gear products in the near future. 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. Clothing dominated the market in 2018 with revenue of $441.2 million. This development is attributed to the increased acceptance of progressive and new designs for several types of ski suits, including jackets, ski suits, ski pants, and moisture-wicking bases. Furthermore, rise in state, national, and international level competitions conducted by various governments across the globe leads to increased participation. This in turn drives the sports equipment and apparel market demand, which significantly contributes to the overall growth of the market.

COVID-19 Impact analysis

The global ski gear and equipment market has been growing consistently during past few years. However, due to the outbreak of corona virus there has been significant impact on supply chains globally. Ski gear and equipment manufacturing companies have faced huge losses during the first & second quarter of 2020, owing to disrupted supply chains and production schedules. COVID-19 has forced ski gear and equipment manufacturers to cease their production, order delivery, and operations due to lack of site access, interrupted supply chain, and shortage of manpower. In the wake of COVID-19 there is an increased vigilance globally against consumption and expenditure as people are not investing money in recreational activities and trying to increase their savings. Travel restrictions imposed by governments worldwide to control COVID-19 has also ceased all winter leisure & adventure activities, which has significantly affected the market for ski gear and equipment.

Top Impacting Factors

• Increasing participation rate in outdoor activities, increasing government initiatives to encourage participation, and growth in the number of ski resorts are driving the growth of the market.
• Serious accidents, and mountain avalanches is expected to hamper the growth of the ski gear and equipment market.
• Developing and launching new and innovative products, and rising tourism industry can be seen as an opportunity for the market investments.

The ski gear and equipment market trends are as follows:

Surge in winter tourism & adventure sports

Improvement of economic conditions and growth of disposable income are important factors that drive growth of the winter adventure tourism market. After the European economic crisis and China's economic crisis, the world economy has stagnated. However, strong recovery from this crisis caused clear economic growth, particularly in developing economies and has led to increase in disposable income among middle-income groups. In addition, disposable income of individuals in North America and Asia-Pacific has witnessed a high growth rate, thus acting as a major driver for market as medium- and high-income consumers in urban areas are shifting their consumption trend from essential to premium goods & services. This trend is encouraging people to invest in recreational activities. Growing interest of consumers toward winter sport activities, coupled with improved participation among all age groups has influenced development of ski gear and equipment across the globe. Furthermore, in recent years, various government authorities have actively started accentuating promotion of winter sports. In several countries, initiatives have been commenced to encourage development of winter sports facilities and recreational skiing. Thus, surge in winter tourism & adventure sports is expected to propel the ski gear and equipment growth.

Key benefits of the report:

• This study presents the analytical depiction of the ski gear and equipment industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with challenges of the ski gear and equipment market.
• The current market is quantitatively analyzed to highlight the ski gear and equipment market growth scenario.
• The report provides a detailed ski gear and equipment market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the ski gear and equipment market research report:

• Which are the leading market players active in the ski gear and equipment market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the ski gear and equipment market?
• What are the projections for the future that would help in taking further strategic steps?

 Ski Gear & Equipment Market Report Highlights