Ski Gear and Equipment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Ski Gear and Equipment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The global ski gear and equipment market is projected to grow at a CAGR of 3.7% during the forecast period (2022-2027).

The COVID-19 outbreak has affected various industries, including the ski gear& equipment market. It has been noted that multiple studies have depicted that nearly 80% of ski gear and equipment companies suffered declined sales due to the premature end to the 2019-2020 season, with two-thirds experiencing lower than usual sales for winter 2020-21. Further, by the end of March, Austria, France, and Switzerland closed all of their ski resorts, and holidays for the rest of the season were canceled. According to a study by Oxford Ski company in 2020, an average year would see 38 percent (132 million people) of all skiing bookings after late February, generating over 189 USD billion revenue for the ski industry and its suppliers. However, the closure of ski resorts worldwide caused the industry to see an estimated 38 percent loss of revenue.

Increasing participation rate in outdoor activities like skiing and other snow sports, increasing government initiatives to encourage participation in skiing, and growth in the number of ski resorts are some of the major factors driving the sales of ski gear & equipment globally.

Manufacturers of ski gear & equipment are more focused on developing and launching new and innovative products to fulfill consumers' changing needs and demands by using advanced technology. In recent years, the number of women participating in various sports has increased globally, including snow sports such as skiing. Therefore vendors are introducing ski gear & equipment specifically for women.

The ski industry is mainly dependent on the snow season, where participation appears to have leveled off, or is maintaining slight growth, in traditional territories, such as United Kingdom, mainland Europe, and United States; there is also an increasing interest among citizens of countries, such as Russia and China. The market in United Kingdom, according to holiday firm SkiWeekends, is worth close to 3 billion pounds, where more than two-thirds of those who ski are aged between 43 to 65 years. Popular destinations in Europe, such as Chamonix, St Moritz, Val Thorens, and Kitzbuhel, among others, have been catering to the winter sports market in the region. Overall, the region boasts around 3,647 ski resorts, where affordable resorts were becoming more prominent over the last year. The size of resorts has also changed since consumers’ preferences in covering more distance and area in a day have witnessed a massive demand.

For years, Europe has been the world's premier destination for skiers, with resorts dotted across the Alps and Pyrenees gaining excellent reputations. There are about 289 ski resorts in France, and each resort offers skiing and snowboarding for beginners, families, and ski experts. According to an article by Club Med, about 28% of Europeans visited France for their last ski holiday between 2017-2018, making it one of their favorite ski destinations. Also, roughly 8.5 million people are indulged in skiing in the country. Additionally, skiing is considered one of the most significant sports in Germany, as skiing alone constitutes 13% of the total consumer spending on the sport. Furthermore, in Germany, a total of approximately 950 km of ski slopes, 3,000 km of cross-country tracks, and almost 2,000 ski lifts are available for winter sportsmen and women, providing enough opportunities for ski gear and equipment manufacturers to target enthusiasts in these regions.

The global ski gear & equipment market is highly consolidated and comprises many big and mid-sized competitors. There is intense competition between the key vendors, leading to the introduction of many innovative ski gears & equipment in the market. Major Key Players are Anta International Limited (Amer Sports Oyj), Kohlberg & Company LLC, Groupe Rossignol, and Tecnica Group S.p.A, among others. The leading players in the market entered into mergers and acquisitions and partnerships with a focus on expanding their presence in the global market. Potential players are partnering with retailers, branded sports distributors, manufacturers, and ski event organizers to achieve deeper market penetration.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support