As per newly released data, the ski gear & equipment market is estimated at ~USD 1,785.3 million in 2024 and is projected to reach ~USD 2,470.1 million by 2034, at a CAGR of ~3.3% from 2024 to 2034. The global market for ski gear & equipment registered a significant valuation of USD 1,716.6 million in 2023.
The market is being driven by various compelling key factors such as favorable government initiatives in developing countries like India, Japan, and China as well as the increased participation of ski sport enthusiasts across the globe.
Skiers utilise specialised goods and accessories for a comfortable and enjoyable skiing experience, which are referred to as ski gear and equipment. The snowy season is crucial to the ski industry. The demand for ski equipment is predicted to increase as a result of expanding ski infrastructure, increased gear & equipment usage, and expanding attempts to increase skiing participation.
There are more people who ski for leisure than there are those who compete professionally. Some of the factors that have been considered as key factors that have continued to fuel the demand for ski gear & equipment include; the rising incidence and frequency in the practice of outdoor activities such as skiing and other winter activities, more sponsorships by regional governments and an increased number of ski resorts around the world.
Additionally, the number of competitions at state, national, and international levels organized by different regional governments has increased. This leads to increased demand for ski gear and equipment and significantly increases the overall market growth.
| Attribute | Details |
|---|---|
| Current Ski Gear & Equipment Market Size (2023A) | USD 1,716.6 Million |
| Estimated Ski Gear & Equipment Market Size (2024E) | ~USD 1,785.3 Million |
| Projected Ski Gear & Equipment Market Size (2034F) | ~USD 2,470.1 Million |
| Value CAGR (2024 to 2034) | ~3.3% |
| Ski Gear & Equipment Market Top Players Share in 2023 | ~35% to 40% |
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The target market registered a CAGR of 2.8% during the historic period from 2019 to 2023. The market witnessed steady growth on a lower end during the historic period due to the adverse impact of the spread of the COVID-19 pandemic which restricted the movement of ski enthusiasts and slowed down the supply chain across the globe, in turn, hampering the overall volume of sales of the target products.
Further, the usage of various products to enhance speed on the back of the launch of new models and types of ski sports such as freestyle, cross-country, downhill skiing, ski mountaineering, ski jumping and other related activities to perform stunts are helping the growth of this market.
In addition, the development of smart ski helmets with GPS, Bluetooth, and built-in headphones is promoting market expansion over the projected period. These ski helmets provide real-time information regarding speed, altitude, location, and weather conditions.
Besides, the use of three-dimensional (3D) printing to produce customized ski equipment and gear that increases comfort and improves performance is spurring the market's expansion in the years to come.
Increased Demand for Helmets to Accelerate Market Growth
Increased awareness of the importance of wearing helmets and other related ski equipment and gear as a result of increased concerns about skiing-related injuries is expected to drive market expansion in the coming years.
According to the USA Consumer Product Safety Commission, using a helmet while snowboarding or skiing can prevent 45% of adult head injuries and 54% of head injuries in children under the age of 15.
It claims that not only wearing a helmet will protect the user from minor cuts and bruises, such as those caused by tree branches, but it will also lower the probability of occurrence and severity of head injuries such as severe concussions, skull fractures, and even death. At the same time, several skiing ports and facilities have made it obligatory to wear a helmet. This is going to drive the demand for skiing gear and equipment in the future.
Growing Number of Resorts to Augment Market Growth
The ski industry is largely reliant on the snow season, where participation appears to have plateaued and has been growing at a slower pace in traditional territories such as the United Kingdom, mainland Europe, and the USA; however, citizens of countries such as Russia and China are becoming increasingly interested.
For instance, according to the holiday company, SkiWeekends, the industry in the United Kingdom is worth nearly millions of Great British Pounds, and still over 60% of skiers are between the ages of 43 to 65. Other famous European resorts including St Moritz, Chamonix, Val Thorens as well as Kitzbuhel among others have targeted the region’s winter sports industry.
Overall, the region has roughly 3,665 ski resorts, with budget resorts becoming more popular in recent years. The size of resorts has also changed as a result of increased consumer demand for covering greater distances and territories in a single day
Consumers Shift Towards High-end Luxury Products to Boost Sales in the Country
Individuals' disposable income has increased at a rapid rate in the United States, acting as a primary market driver as middle- and high-income consumers in metropolitan cities shift their purchase habits from essential to luxury products and services.
People are being encouraged to invest in recreational activities as a result of this trend. The rising number of female skiers, as a result of firms' development of new goods and technology aimed at women's safety, is predicted to boost demand for ski equipment and gear in the near future in the USA.
Budget-Friendly Product Options and Growing Sales Channels to Boost the India Market
Some of the main reasons that have helped increase the sales of ski equipment as well as ski gear in India include; the efforts by the government to encourage activities such as skiing and other winter activities such as skiing and other winter-related sports coupled with the development of more ski-related facilities such as ski resorts.
Typically, because of the cheaper products and options, supermarkets as well as hypermarkets occupy a massive share of the market depending on distribution channels in the country. Some of the specialty shops providing skiing equipment in India include Decathlons and Columbia Sportswear which in turn helps the growth of the regional market in the country.
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Product Development and Innovation Gaining Traction from the Consumers
Skiing apparel dominated the market in 2023. The rising popularity of sophisticated and new designs of various types of ski clothing, such as heated jackets, ski suits, ski pants, and a moisture-wicking base layer, is attributable to this expansion. Through improved technology, ski clothing manufacturers are focusing on introducing and creating novel items to fulfil changing client demands and needs.
This market is being driven by new goods and features that improve consumer safety. Helly Hansen, for example, has introduced radar-sensitive ski trousers. The new rescue technology in these radar-sensitive trousers reflects the location of the person if the skier gets stranded in the snow.
Augmentation in Women Ski Gear & Equipment Offering from Players to Reflect Substantial Progression
Based on the end-user segment, the women category is anticipated to exhibit exponential growth over the forecast period. In recent years, there has been an increase in the number of women participating in various activities worldwide, particularly winter sports like skiing. Women's ski equipment and gear are being introduced by vendors.
Although women ski less frequently than males, manufacturers are actively pushing women to take up the sport by offering specialised gear, such as narrow ankles and size variations. Major suppliers also classify their products into tiers like intermediate, advanced, and professional to differentiate them. As a result, the growing use of ski gear and equipment by women denotes an increase in market expansion.
The global ski gear and equipment industry is highly consolidated, with a large number of large and mid-sized players. The primary vendors are in fierce competition which has resulted in the release of new varieties of ski gear and equipment to the market.
To penetrate the market deeper, leading players in the market have started developing new product designs based on the preferences of the consumers concerning fashion and safety. To improve the market and sell in the global market, the key players have market-adopted strategies like M&A and partnerships.
| Attribute | Details |
|---|---|
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD Million/Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa (MEA); and Oceania |
| Key Segments Covered | Type, Application, End-User, Sales Channel |
| Key Companies Profiled | Amer Sports; Fischer Sports GmbH; Black Diamond Equipment; Groupe Rossignol; Coalition Snow; Helly Hansen; Volkl Int. GmbH; K2 Sports LLC; Alpina DOO; Clarus; The Burton Corporation; Skis Rassignol S.A; Icelantic LLC; Beteilgungsverwaltungs GmbH; Cheers.USA; Others (as per request) |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing |
Available upon Request |
The global ski gear & equipment market is estimated to reach a valuation of USD 1,785.3 million in 2024.
The global ski gear & equipment market grew at a 2.8% CAGR between 2019 and 2023.
Leading players operating in the global ski gear & equipment market are Amer Sports, Fischer Sports GmbH, Black Diamond Equipment, Groupe Rossignol, Coalition Snow, Helly Hansen, Volkl Int. GmbH, K2 Sports LLC, Alpina DOO, Clarus, The Burton Corporation, Skis Rassignol S.A, Icelantic LLC, Beteilgungsverwaltungs GmbH, and Cheers.US among others.
The overall sales of the ski gear & equipment market across the USA are projected to surge at 2.9% CAGR during the forecast period.
| Market Estimated Size in 2023 | USD 8.4 billion |
|---|---|
| Projected Market Value in 2033 | USD 13.0 billion |
| Value-based CAGR from 2023 to 2033 | 4.9% |
| Estimated Market Size (2023) | USD 7,042.3 million |
|---|---|
| Projected Market Size (2033) | USD 14,669.8 million |
| CAGR (2023 to 2033) | 7.6% |
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