May 25, 2024

Ski Gear and Equipment Innovation is Driving the Ski Gear and Equipment Market Forward

The ski gear and equipment market has witnessed significant innovations over the past decade that have enhanced functionality, safety, and overall experience for skiers and snowboarders. Products such as all-mountain skis and snowboards have allowed for versatility across different terrains and conditions. Boots have become increasingly customizable with advanced thermo-moldable linings that guarantee a heat-molded fit for optimal power transfer and comfort. Insulated ski jackets and pants are equipped with breathable and waterproof fabrics to keep athletes dry while regulating temperature. Helmets have also advanced in design with lightweight ABS shells and impact-absorbing liners to better protect the head. The global ski gear and equipment market is estimated to be valued at US$ 1,332.4 Mn in 2024 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:

The market has seen a rising focus on sustainability and eco-friendliness in recent years. Manufacturers are increasingly utilizing recycled and regenerative materials in their products to reduce environmental impact. For example, ski brands now offer models made from repurposed ocean plastics and fabrics sourced from responsibly managed forests. There is also a growing demand for rental and resale options that extend the lifecycle of gear and keep usable equipment from reaching landfills prematurely. Additionally, technology continues to play a key role in product upgrades, such as the integration of WiFi and Bluetooth into helmets, goggles and other accessories to monitor statistics and enhance safety through locator beacons. Furthermore, increasing accessibility through gear rentals, group lessons, and easier terrain is helping grow the sport by attracting new generations of participants. These trends are likely to shape the market going forward.

Porter’s Analysis
Threat of new entrants: Low barriers to entry such as low initial investment and manufacturing costs allow new players to enter the market easily. However, existing players have established brand names and economies of scale which make it difficult for new entrants.

Bargaining power of buyers: Buyers have moderate to high bargaining power due to fragmented nature of suppliers and availability of substitutes. They can negotiate on prices and demand innovative products.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power as production of ski gear and equipment requires specialized components available from few global suppliers. This enables existing players to negotiate on bulk purchases.

Threat of new substitutes: Threat from new substitutes is low as skiing requires specialized gear which are not easily substitutable. However, other winter sports such as snowboarding offer alternatives.

Competitive rivalry: Market has few global players with established brands and technologies. However, intense price wars and new product innovation keeps the competition high.

Key Takeaways

The global Ski Gear and Equipment market is expected to witness high growth.

Regional analysis: North America is projected to maintain leading position during forecast years led by developed ski infrastructure and spending culture on adventure sports in the U.S. and Canada. Europe ranks second due to popularity of skiing in countries like Austria, Switzerland, Germany, France and Italy having world renowned ski resorts like Alps and Dolomites frequented by international tourists. Developing regions like Asia Pacific and Latin America are expected to offer high growth prospects for players owing to rising middle class population, infrastructure developments and prosperous economy in countries such as China, Japan and Brazil.

Key players operating in the ski gear and equipment market include Amer Sports Oyj, Black Diamond Equipment, Ltd., Coalition Snow, Fischer Beteilgungsverwaltungs GmbH, Helly Hansen, Icelantic LLC, Marker Volkl (International) Sales GmbH, Skis Rassignol S.A., The Burton Corporation, and Volcom LLC. Major players are focusing on new product development through advanced technologies and acquiring smaller brands to strengthen their market presence.