Ski gear and equipment refers to products that are used for skiing and snowboarding activities. This includes ski apparel such as jackets, pants, gloves and helmets. Other ski gear includes skis, boots, poles, bindings and protection gear like elbow pads and knee pads. The growing tourism industry, especially ski tourism has boosted the demand for high performance ski gear and equipment. Ski resorts are expanding their operations and infrastructure to attract more tourists. This is encouraging more people to participate in skiing and snowboarding sports. Advanced technological innovations are also leading to the development of lightweight yet durable ski gear that provides optimum safety and comfort to skiers. This is increasing the popularity of skiing as a sport.
The global Ski Gear and Equipment Market is estimated to be valued at US$ 1,332.4 Mn in 2023 and is expected to exhibit a CAGR of 2.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.Market key trends:
One of the key trends in the ski gear and equipment market is growing popularity of backcountry skiing. Backcountry skiing involves skiing in remote outdoor locations rather than designated ski resorts. It allows skiers to have more wilderness experience. This has led to increased demand for specialized backcountry ski gear like alpine touring equipment, avalanche safety gear and splitboards. Manufacturers are focusing on developing technical ski apparel and gear tailored for backcountry conditions.
Another major trend is the rising focus on eco-friendly ski gear. Growing environmental concerns have prompted skiers to opt for sustainable products. Several companies have started offering gear made from recycled and renewable materials. For example, skis and boards made from recycled carbons and organic fabrics. Advancements in material sciences are also supporting development of high performance eco-friendly ski apparel, boots and bindings. This trend is expected to gain more traction during the forecast period.
Threat of new entrants: Low barrier to entry but established brands have strong customer loyalty and economies of scale which is difficult for new entrants to achieve.
Bargaining power of buyers: Buyers have moderate to high bargaining power as there are many established brands to choose from and products are standardized.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as raw materials used in ski gear are commonly available.
Threat of new substitutes: Low threat as there are limited substitutes for winter sports equipment for recreational activities like skiing and snowboarding.
Competitive rivalry: High as the market has few large players and many mid-sized and small brands competing on product quality, features, prices and strong brand positioning.
The global Ski Gear and Equipment Market is expected to witness high growth, exhibiting CAGR of 2.9% over the forecast period 2023-2030, due to increasing popularity of winter sports and adventurous outdoor activities among millennials and generation Z. The market size for ski gear and equipment is estimated to reach US$ 1,332.4 Mn by 2023.
Regional analysis indicates that North America dominates the market and is expected to continue its dominance during the forecast period. Presence of most ski resorts, number of skiers and investments in ski infrastructure are driving growth of ski gear and equipment market in North America. Europe is the second largest market, driven by countries like France, Austria, Switzerland, Norway and Germany where ski tourism is a major part of their economy.
Key players operating in the skit gear and equipment market include Amer Sports Oyj, Black Diamond Equipment, Ltd., Coalition Snow, Fischer Beteiligungsverwaltungs GmbH, Helly Hansen, Icelantic LLC, Marker Volkl (International) Sales GmbH, Skis Rassignol S.A., The Burton Corporation, and Volcom LLC. These established brands compete based on continuous innovation, product diversification, and expansion of distribution networks globally.
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it