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Conquering the Slopes: The Evolution of Ski Equipment and Culture
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According to The Business Research Company's, The ski market size has grown steadily in recent years. It will grow from $1.53 billion in 2023 to $1.59 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to increased popularity of winter sports, increased tourism, expansion of ski resorts, increased disposable incomes, focusing on environmentally friendly practices and eco-friendly products.
The ski market size is expected to see steady growth in the next few years. It will grow to $1.84 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The growth in the forecast period can be attributed to increasing popularity of recreational activities, growing demand for leisure and adventure activities, increasing engagement in skiing and snowboarding, . Major trends in the forecast period include launch of eco-friendly products, technological solutions, strategic collaborations, sustainable product launches, lightweight bindings, integrated hike mechanisms.
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Market Drivers and Trends:
Increasing recreational activities are expected to propel the growth of the ski market going forward. Recreational activity is any outdoor activity for fun, exercise, or leisure, including learning how to execute the movement. Skiing is a popular leisure sport that provides fun and fitness to individuals and allows them to participate in an excellent outdoor activity. For instance, in August 2022, according to the Outdoor Industry Association, a US-based membership organization, 164.2 million Americans aged six and over engaged in outdoor recreation at least once in 2021, a 6.9% increase from March 2020. Therefore, increasing recreational activities are driving the growth of the ski market.
Product innovation is a key trend gaining popularity in the ski market. Major companies operating in the ski market are developing innovative products to sustain their position in the market. For instance, in January 2022, Fischer Sports, an Austria-based sports equipment company, introduced the newly designed Ranger series skis for all mountain sports. The Ranger series was created with careful consideration for the materials used in its construction to minimize environmental effects. Each model includes recycled steel edges ranging from 20-25%, and the top sheets are 50% vegetable oil-based with 10% recycled materials. In comparison, the bases are at least 50% recyclable and contribute zero-waste wood core, and Titanal with at least 80% recycled material.
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Major Key Players of the Market:
Decathlon SA, Amer Sports, Tecnica Group S.p.A, K2 Sports LLC, Fischer Beteiligungsverwaltungs GmbH, Groupe Rossignol, Head Skis, Helly Hansen, Alpina DOO, Black Diamond Equipment Ltd, Surefoot, Armada, Blizzard Sport GmbH, Scott Sports, Icelantic LLC, DPS Skis, Rottefella AS, Marker Dalbello Voelklski GmbH, Faction Skis, Kastle GmbH, Volkl, Majesty Skis, 4FRNT Skis LLC, Coalition Snow, United States Ski Pole Company, Whitedot Skis, Liberty Skis, Moment Skis, ON3P Skis, Stockli Swiss Sports AG.
Ski Market 2024 Key Insights:
• The ski market size is expected to see steady growth in the next few years. It will grow to $1.84 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%.
• Ski Market Thrives On The Rise Of Recreational Activities
• Innovative Ski Products Lead The Way In Market Trends
• North America was the largest region in the ski market in 2023
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