Global Ski Gear and Equipment Market Grows Significantly at a CAGR of 3%

Introduction

Ski gear and equipment refer to skiers' various products and accessories when skiing. Skiing for recreation, competition, or professional sports necessitates the correct equipment to provide a safe and enjoyable experience on the slopes.

The commercialization of the sport and the smooth and safe experience with various types of ski equipment and gear are expected to enhance the market share of Ski Gear and Equipment. Concerns about skiing-related accidents will likely raise awareness of the importance of wearing helmets and other ski equipment and gear. Increased ski infrastructure, helmet use, and measures to enhance skiing participation are expected to drive rising demand for ski gear. Skiing as a recreational activity attracts more people than experienced skiers.

Market Dynamics

Rising Interest in Winter Sports Drives the Global Market

Many countries are expanding skiing tourism due to rising interest in winter sports, particularly skiing. Ski apparel and equipment demand has increased due to more domestic and foreign visits to ski resorts and destinations. According to the International Report on Snow and Mountain Tourism, skier visits have increased globally in recent years. European Alps, North American Rocky Mountains, and Asian skiing locations like Japan and South Korea have seen a rise in ski travel. In 2019/2020, the French Alps had over 58 million skier days, indicating its attractiveness.

Ski resorts are adding snowboarding, cross-country skiing, winter sports, and classic alpine skiing. Ski apparel and equipment demand has increased due to this diversity of winter sports enthusiasts. This global ski gear and equipment market trend boosts ski resort economies.

Customization and Personalization Creates Tremendous Opportunities

There is an increasing potential within the ski gear and equipment industry to offer skiers opportunities for customization and personalization. Manufacturers have the opportunity to cater to a specialized market segment that seeks unique and high-performing equipment by offering clients the ability to customize their gear according to their individual preferences and requirements. The popularity of custom-fit ski boots is on the rise, as indicated by a poll conducted by Snowsports Industries America (SIA). The survey findings reveal a substantial increase in sales of these specialized boots. The increasing need for enhanced comfort and performance is a key factor behind this phenomenon. Custom-fitted boots can mitigate discomfort and reduce the risk of foot injuries, enhancing control and optimizing power transfer to the skis.

Furthermore, Ski resorts and specialized ski retailers have significantly invested in providing personalized boot-fitting services, enabling skiers to undergo foot scanning and obtain customized boots that cater to their requirements. The demand for such services is rising, indicating a growing inclination towards personalized equipment. Skiers are prepared to invest in equipment that suits their needs and increases their performance and comfort. As the trend of personalized solutions gains pace, manufacturers are presented with an opportunity to expand their offerings and leverage technology to cater to the diverse expectations of skiers.

Regional Insights

North America was the most important regional market. This rise could be attributed to the large number of consumers who enjoy skiing as a recreational activity in nations like the United States and Canada. According to Destination British Columbia, North America and South America accounted for 46 percent of skier trips, with the United States accounting for 62 million annual skier visits or 25% of the global total in 2021.

In addition, individual discretionary income has grown quickly in North America, serving as a major market driver as middle- and upper-income consumers in urban areas shift their spending habits from essential to luxury products and services. People are being encouraged to invest in recreational activities due to this trend. The growing number of female skiers is predicted to enhance demand for ski equipment and gear shortly due to companies producing new goods and technologies for women's safety.

The European region is expected to grow dramatically. Numerous sporting events have occurred in France, Austria, Switzerland, Spain, and Germany, all prominent European ski resorts. They have constructed the infrastructure to entice more people to physical activity, which has increased demand for winter sports throughout Europe. Alpine touring is predicted to be the key driving force in the winter sports equipment market in the European region.

Additionally, European tourist destinations such as Chamonix, St. Moritz, Val Thorens, and Kitzbuhel, among others, have encouraged winter sports in the area. Furthermore, several regulatory bodies and athletic organizations, most notably the German Skiing Association, actively assist competitors by supporting high-quality equipment and clothes to help them perform better in various contests. The market will likely increase throughout the forecast period due to the region's widespread embrace of winter sports and strong government support. Skiing is also considered one of the most important sports in Germany, accounting for 13% of total consumer spending.

Key Highlights

• The global ski gear and equipment market size was valued at USD 1.5 billion in 2022 and is projected to reach USD 1.95 billion by 2031, registering a CAGR of 3% during the forecast period (2023-2031).
• Ski Timers, Ski Goggles, Ski Helmets, Ski Snowboards, Ski Snowboard Boots, Ski Gloves, Ski Snowboard Sticks, and Skiing Apparel are the subcategories of type. Skiing Apparel is a key market contribution.
• Cross-country skiing, Alpine skiing, downhill skiing, and ski touring are the different types of skiing. Cross-country skiing had an impact on market expansion.
• The market is segmented by end-user into Men, Women, Kids, and Pump. The market's primary end-users are men.
• Based on sales channels, the market is divided into wholesalers/distributors, hypermarkets/supermarkets, specialty stores, franchise stores, and online stores. Online stores headed the market.
• Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America is the most significant global market shareholder and is estimated to grow at a healthy CAGR over the forecast period.

Competitive Players

Competitive Landscape

The key players in the global ski gear and equipment market are Amer Sports, Fischer Sports, Black Diamond, Rossignol Group, Coalition Snow, Helly Hansen, Volkl, K2 Sports, Alpina, Clarus, Burton, Rossignol Skis, Icelantic, Beteilgungsverwaltungs, and Cheers.

Recent Developments

Market News

• In September 2023, Atomic's first-ever Ski Industry Climate Summit left a lasting mark on the ski industry's commitment to addressing climate change. The conference brought together important industry players, and substantial progress was made toward a more sustainable future for winter sports.
• In September 2023, Rossignol joined the IF3 Film Festival as a presenting partner.

Segmentation

Global Ski Gear and Equipment Market: Segmentation

By Type

• Ski Timer
• Ski Goggles
• Ski Helmets
• Ski Snowboard
• Ski Snowboard Boots
• Ski Gloves
• Ski Snowboard Sticks
• Skiing Apparel
• Other Ski Gear and Equipment

By Application

• Cross-country skiing
• Alpine Skiing
• Downhill skiing
• Ski touring

By End-User

• Men
• Women
• Kids
• Pump

By Sales Channels

• Wholesalers/Distributors
• Hypermarkets/Supermarkets
• Specialty Stores
• Franchise Stores
• Online Stores
• Other Distribution Channels

By Region

• North America
• Asia-Pacific
• Europe
• The Middle East and Africa
• Latin America