Winter Sports Equiment Market Research, 2031
The global winter sports equiment market size was valued at $14.69 billion in 2021, and is projected to reach $32.83 billion by 2031, growing at a CAGR of 8.5% from 2022 to 2031.
The market for winter sports equipment focuses on activities such as skiing, surfing, ice hockey, ice skating, and snowboarding. Significant opportunities are being created for manufacturers in the worldwide winter sports equipment market by increase in demand for winter sports equipment, snow skiing equipment, snowboard sports equipment, and snowboard bindings. Additionally popular in emerging nations is the demand for winter sports apparel, footwear, and accessories.
On the basis of distribution channel, online segment is expected to register highest CAGR during the forecast period. One of the quickly expanding sales channels in the winter sports equiment market is the online channel. Since they are convenient and easy to use, consumers favor online platforms. To entice additional users, this platform provides a variety of discounts on online purchases. Global internet channel business growth is facilitated by the emergence of superior technologies. In addition, revenue of the market's enterprises has benefited greatly from online sales. To increase their market presence, the major market players are working more closely with online channel sites.
The ski equipment segment dominates the global winter sports equipment market. Consumers are gradually spending more on sportswear and related equipment, with athleisure-related clothes and accessories accounting for a sizable portion of the cost. Due to the presence of numerous well-established market players, the ski equipment segment continues to be extremely competitive. The market for ski equipment is booming due to e-commerce, a modern retail format that also allows customers to compare all the sports equipment manufacturers on the market.
The ice hockey segment exhibits the fastest growth in the global winter sports equiment market. In terms of winter sports equiment market share, the skiing segment is in the lead, and it is anticipated to maintain its strong CAGR during the projection period. This is attributed to rise in number of snow resorts in developing and developed regions.
Region wise, Europe dominated the market with the largest share during the forecast period. A surge in demand for ski equipment rentals as a result of the increased number of tourists has changed the way that ski resorts sell such items. In fact, resorts that have more space than their rivals and can make equipment available during the busiest times are more likely to experience steady growth in a developed market like Europe. Since consumers' preferences for travelling further and covering more ground in a day have seen a large demand, resort sizes have also evolved. Larger resorts have also seen a considerable increase in visitors since they can provide additional activities for guests during their mountain stays, such as horseback riding, the development of culinary experiences, and community development initiatives.
The expansion of winter athletic tournaments are directly related to rise in public interest in sports activities. Due to the growing number of athletes, there are more figure skating and ice skiing contests held worldwide as well as training groups. The need for skating equipment has risen as a result of the increasing number of skating competitions and events worldwide. One of the major reasons fueling the market's expansion during the winter sports equiment market forecast period is the growing popularity and quantity of sporting events.
One of the main reasons anticipated to fuel the market in the few next years is the expanding participation rate in professional ice hockey events. The demand for diverse winter sports equipment has significantly expanded in recent years due to the growing popularity of winter sports in developing nations. The goal of sports fans in developed economies is to establish winter sports as a popular career. The aforementioned elements are expected to boost interest in the equipment needed for various activities such as skiing, ice hockey, snowboarding, and figure skating.
There are many events in the international calendar for winter sports. One of the events is the winter Olympics that comes around every four years. Some of the events of snow sports are winter X-Games, Arctic Winter Games, commonwealth winter games. The 2021 World Para Snow Sports Championships was an international disability sport competition. Beijing Winter Olympic 2022 is one of the snow sport tournaments which encouraged many women participants to participate in snow sports. Beijing successful Olympics bid in 2015 increases the number of ski resorts by 40 % to roughly 800.Thus, the rising number of snow tournaments creates the huge opportunities for winter sports equipment market.
Winter and snow sports many times causes injuries like blisters, sprains and strains, hypothermia, frostbite, and head injury. Sometimes there is a danger of sun-related injuries when exercising in alpine environments like sunburn and snow blindness. Colder muscles are also more prone to injury because they are naturally less efficient and have less stamina than warm muscles. Due to the above rising incidence of injuries associated with winter restraint the winter sports participation. More than 1 million people have been injured in the past decade while participating in winter sports. Head injury are the most common injuries while participating in the winter sports like skiing and snowboarding.
The major players analyzed for the winter sports equiment industry are Alpina Sports, Amer Sports, BAUER Hockey, LLC, Black Crows, Clarus Corporation, ELAN, D.O.O., Fischer Sports GmbH, Head UK Ltd., Icelantic Skis, K2 Sports LLC, MDV Sports, Rossignol Group, Tecnica Group S.p.A., SCOTT Sports SA, Under Armour Inc., and Völkl Int. Gmbh.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the winter sports equiment market analysis from 2021 to 2031 to identify the prevailing winter sports equiment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the winter sports equiment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global winter sports equiment market trends, key players, market segments, application areas, and winter sports equiment market growth strategies.
Winter Sports Equipment Market Report Highlights
By Distribution Channel
By Product Type
Key Market Players
Tecnica Group S.p.A., MDV Sports, Head UK Ltd., Amer Sports, BAUER Hockey, LLC, Black Crows, Clarus Corporation, Rossignol Group, Völkl Int. Gmbh, Alpina Sports, Fischer Sports GmbH, SCOTT Sports SA, Icelantic Skis, K2 Sports LLC, Under Armour Inc, ELAN, D.O.O.
According to the views of top CXOs of leading organizations, even in the face of numerous unrests, including terrorism, a failing global economy, and others, the market for winter sports equipment has continued to expand. The market for winter sports is expected to develop significantly, as more people are becoming conscious of both sports and their health. Additionally, a rise in government and commercial organization sponsorship of sporting events, which increases young people from developing regions' participation, promotes market expansion. The industry is also expected to grow as a result of an increase in equipment donations from different organizations. Consumers may now purchase premium winter sports equipment and clothing online and have the chance to check out the goods offline.
The market players have implemented various developmental strategies, such as the introduction of new products, to support the market growth for winter sports equipment. They also place a heavy emphasis on ongoing product innovation to maintain their position as market leaders and to increase demand for winter sports gear. To improve customer experiences, grow their revenue, and expand their market share, major market players in this space create new products using innovative technologies like internet of things and constant innovation.