The global skiing equipment market size is projected to experience dynamic growth in the forthcoming years owing to the increasing number of winter sports participants around the world, finds Fortune Business Insights in its report, titled “Skiing Equipment Market, 2023-2030”.
There has been a considerable increase in the number of winter sports participants across the world owing to the easy availability of ice skating and skiing equipments on the online stores and other retail stores worldwide. This is a major factor contributing to the growth of this market during the forecast period. For instance, as per the report released by the US Ski and Snowboard Organization, there was an increase of 26 percent in the number of participants in Nastar Batch system of various ice sports events such as ski racing, and others.
However, the increasing incidences of skiing and surfing accidents are projected to hinder the growth of this market.
COVID-19 Impact:
The increasing social distancing norms and the travel restrictions imposed by the government during the COVID-19 pandemic have resulted in the decline of the demand for skiing equipments across the world, which is anticipated to restrict the growth of this market until the pandemic comes to an end.
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Market Segmentation:
On the basis of product type, this market is divided into boards and poles, helmets, boots and bindings, and others. Based on end-user, the market is classified into adults and kids. By distribution channel, the market is categorized into online stores, specialty stores, and others. In terms of geography, the market is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Highlights/Summary:
This report offers a 360-degree study of the market drivers, trends, and opportunities and incorporates an all-encompassing analysis of the hindrances facing the market. Further, the report contains an in-depth understanding of the various market segments and provides an exhaustive evaluation of the competitive landscape and regional developments in the market.
Drivers/Restraints:
Wide Availability of Skiing Equipments in Different Distribution Channels to Fuel the Market
The skiing equipments such as skiing boards and poles, helmets, and others are widely available in various shapes and sizes across several distribution channels such as online stores, and others as per the consumers’ requirements. These distribution channels provide attractive discounts and offer various brands of skiing equipments to the customers in order to increase their customer base in several regions. This is one of the vital factors driving this market’s growth.
Regional Insights:
Rising Consumer Expenditure on Skiing Activities to Boost the North America Market Growth
North America region is projected to dominate in the skiing equipment market share on account of the rising consumer expenditure on skiing and snowboarding activities in the countries such as the US and Canada.
Asia Pacific region is expected to grow at a decent pace in this market owing to the increasing government support for the development of winter sports in the countries such as India, China, Japan, and South Korea.
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Competitive Landscape:
Rising Adoption of Latest Technologies in Skiing Equipments to Feed Competition
The prominent companies in the skiing equipment market are mainly focusing on the adoption of latest technologies in skiing equipments such as AI-based skiing helmet, and others for the comfort and safety of the customers involved in skiing activities worldwide. This has resulted in the increasing competition among key companies which will help them to diversify their product portfolio and widen their market footprint.
Industry Development:
July 2019: Vail Resort Inc. acquired 17 U.S. ski areas of Peak Resort Inc. to make skiing and riding facilities more accessible to U.S. consumers. This is likely to drive demand for the skiing equipment among domestic U.S. consumers.
List of Key Players Covered in Skiing Equipment Market Report:
International Speedway Corporation, Rossignol Group, Amer Sports Oyj, Crosson, Kneissl Tirol GmbH, K2 Sports LLC, Kohlberg & Company, Fischer Beteiligungsverwaltungs GmbH, Full Tilt Boots Global, ELAN D.O.O.
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