Ski Equipment Market is Projected to Reach US$ 700 Mn by 2022: Fact.MR
According to a recent report by Fact.MR, the global market for alpine ski equipment is poised to exhibit a moderate CAGR throughout the forecast period 2017 to 2022. Global sales of alpine ski equipment will reach approximately US$ 700 Mn in revenues by 2022-end.
Over the past few years, there has been a substantial rise in number of people participating in alpine skiing. Although helmets are not a mandatory equipment in this recreational and competitive winter sport, individuals prefer to use helmets owing to the awareness about head injuries. Most of the ski countries are focusing on expansion of ski initiatives, in a bid to accelerate the participation rate, as well as reap economic benefits. An example of this is the “Little Shredders” program launched by the SSA – Ski and Snowboard Australia, which is the governing body for the Australian competitive snow sports. Little Shredders program has been initiated for teaching the alpine skiing basics to children, without even visiting the slopes. These factors might influence growth of the global alpine ski equipment market over the forecast period.
The infrastructure of alpine skiing is witnessing rapid development across ski regions, driving economy of these regions, and promoting tourism. Huge development in skiing is being witnessed in South Korea, with an aim to support Winter Olympics in 2018. Moreover, alpine ski resorts are concentrating on extension of their facilities across well-established ski economies, such as Europe and North America. This large scale alpine skiing infrastructure development is adhering more individuals for participating in this sport. These factors will further drive the market growth in the near future.
9 Key Estimations on Future of Global Alpine Ski Equipment Market
- >110 mm size of alpine ski equipment is expected to remain sought-after among people around the world, accounting for over 80% revenues share of the market throughout the forecast period.
- 70-79 mm alpine ski equipment sales are estimated to exhibit the highest CAGR in the market through 2022.
- Sales of alpine ski equipment in online sales channel are expected to ride on a CAGR of 4.3% through 2022.
- Specialty stores will remain the most lucrative sales channel in the global alpine ski equipment market, with sales projected to surpass revenues worth US$ 240 Mn by 2022-end.
- On the basis of equipment type, alpine bindings will witness the fastest expansion in sales during 2017 to 2022.
- Alpine boots, estimated to account for nearly one-third market revenue share, will continue to be the top-selling equipment in the market over the forecast period.
- North America is anticipated to retain its dominance in the market, in terms of revenues. However, sales in Asia-Pacific excluding Japan (APEJ), and Middle East and Africa (MEA) will exhibit a relatively higher CAGR through 2022.
- Based on price range, economy segment is expected to remain preferred among individuals across the globe, with sales poised to surpass US$ 250 Mn in revenues by 2022-end.
- Key market players profiled in the report include Nordica S.p.A., Kneissl Tirol GmbH, Head NV, Skis Rossignol SAS, Fischer Sports GmbH, Clarus Corporation, Newell Brands Inc., and Amer Sports Corporation.
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