Winter Sports Equipment Market To be at Forefront By 2022-2031
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In the report, TMR predicts that, the global winter sports equipment market would be largely driven by factors such as rapidly growing ski/snowboarding resorts across the globe. Innovation in technology and design of winter sports equipment such as connected skis and snowboards is expected to boost the demand for ski and snowboarding equipment, subsequently driving the winter sports equipment market.
Globally, participation in winter sports has been greatly influenced by rapid rise in alpine touring (AT), backcountry skiing, and split boarding. Growth in backcountry skiing in the future is also expected to bolster the global winter sports equipment market.
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In addition, players in the winter sports equipment market are focusing on developing and offering innovative winter equipment gear, particularly for beginners and new sports enthusiasts. This trend will enable the market to expand its clientele and encourage youngsters to participate in winter sports events.
According to the winter sports equipment market report, the equipment type segment includes skis, ski poles, snowboards, binding, boots, ice hockey sticks, accessories, and others. The skis segment is expected to dominate both, in terms of value as well as volume, in the global winter sports equipment market, and expand at a rapid rate during the forecast period. The growth of the skis segment can be attributed to their long lasting popularity, particularly the ever-growing trend of alpine skiing, which is anticipated to significantly drive the market for skis. Furthermore, in the near future, skiing, as a sport, is estimated to flourish at a prominent rate. The ski sports segment is majorly fueled by growth in winter sports tourism, and growing number of skiing areas and resorts, worldwide.
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In terms of distribution channel, the offline segment holds a large share of the global winter sports equipment market, followed by the online segment. The offline segment dominated the winter sports equipment market in 2018, owing to the preference of consumers to experience the quality of the product physically. As per the winter sports equipment market report, online distribution channels of winter sports equipment include both, e-Commerce websites as well as company-owned websites, while offline distribution channels include supermarkets/hypermarkets, specialty stores, and others (various smaller retail formats). In the near future, the e-Commerce platform is anticipated to be the most preferred channel of the winter sports equipment market.
Global Winter Sports Equipment Market: Prominent Regions
Presently, Europe dominates the global winter sports equipment market, followed by North America. The Europe winter sports equipment market is predominantly driven by the growth of winter tourism in Austria, Switzerland, and various Nordic countries. The demand for winter sports equipment has remained significantly high, as these countries are home to prominent winter sports destinations, thereby driving the Europe winter sports equipment market.
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The demand for winter sports equipment in developing regions such as Asia Pacific is expected to increase significantly during the forecast period. The Asia Pacific winter sports equipment market is driven by the exponential growth of winter sports in China. China is projected to be the fastest-growing winter sports equipment market, globally.
Global Winter Sports Equipment Market: Key Players
Key players operating in the global winter sports equipment market include Rossignol Group, Amer Sports Corporation, Fischer Sports Corporation, ELAN D.o.o, Icelantics LLC., Clarus Corp., Völkl Sports GmbH, BAUER Hockey, LLC, Head UK Ltd., and Sport Maska Inc. Companies operating in the winter sports equipment market are extensively focusing on introducing innovative products in order to gain increased market share.
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