What’s Driving Sales of Cross Country Skiing Equipment in the U.S.

Europe holds a major chunk of the global cross country skiing equipment market share due to its geographical advantage and rising government investments in the tourism sector, followed by North America.

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Rising standards of middle-class households around the world as well as people's preference for visiting adventurous locations for recreational activities and complementing market expansion. Soaring investments are being seen in research & development to acquaint consumers with advanced skiing equipment to prevent falls and facilitate easy gliding on soft snow.

According to the latest revised report by Fact.MR, the cross country skiing equipment market is estimated to be valued at over US$ 1 Bn in 2021, and is expected to grow 1.7X by 2031, at a CAGR of close to 6%.

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Key Takeaways from Market Study

• Race and performance classic skis account for the largest market share of 15.5%, and are expected to hold a market value of US$ 225 Mn by the end of 2031.
• By end use, institutional level holds the highest value and is expected to reach US$ 794 Mn by the end of 2031.
• Under the sales channel, specialty stores hold the 35.3% of the market share, and will offer an absolute dollar opportunity of US$ 282 Mn over the next ten years.
• The market in Europe to lose 753.5 BPS over the forecast years, but grow 1.5X over 2021 to 2031.
• The Alps, under country segment in Europe, to hold the highest market share of 37.9% in 2021, and is anticipated to expand at a CAGR of close to 6% over the forecast years.

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Key Market Segments Covered

• By Sales Channel
o Direct Sales of Cross Country Skiing Equipment
o Cross Country Skiing Equipment Sold at Franchised Stores
o Cross Country Skiing Equipment Sold at Specialty Stores
o Online Sales of Cross Country Skiing Equipment

• By Price Range
o Economy Cross Country Skiing Equipment
o Mid-range Cross Country Skiing Equipment
o Premium Cross Country Skiing Equipment
o Super Premium Cross Country Skiing Equipment

Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2018/02/19/1361290/0/en/6-Key-Research-Findings-from-Fact-MR-s-Report-on-Baseball-Equipment-Market-for-Forecast-Period-2017-2026.html

Winning Strategy

Key stakeholders have been investing in research & development in order to develop lighter equipment with longer lifespan and greater flexibility. These advancements would propel the sports industry forward in the medium- to long-term forecast period, including the market for cross country skiing equipment.

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This release was published on openPR.