The Ski Gear And Equipment Market Is Estimated To Witness High Growth Owing To Rising Participation in Winter Sports
The Ski Gear And Equipment Market is estimated to be valued at US$ 1410.8 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 Overview:
The ski gear and equipment market comprises products such as ski boots, ski bindings, ski protection gear, ski gears, and ski poles. Ski boots provide protection and grip to skiers while skiing on snow. Ski bindings attach boots to skis and help quick release of boots in case of fall. Ski protection gear includes helmets, goggles, gloves etc. to protect skiers from injuries during skiing. Ski gears such as skis, snowboards, backpacks, gloves etc. are essential equipment for skiing. Ski poles provide balance and help propel skiers forward on snow. Growing winter sports tourism is driving the demand for various ski gear and equipment.
Market Dynamics:
The ski gear and equipment market is driven by growing participation in winter sports globally. According to Winter Sports Federation, around 7-8 million people participate in alpine skiing alone in Europe. Furthermore, rising winter sports tourism worldwide is encouraging participation in skiing and snowboarding. For instance, the Colorado ski resorts in the U.S. reported over 13 million skier visits in 2020-21 winter season. Rising health awareness is also prompting people to engage in outdoor winter sports for physical exercise. However, unpredictable weather conditions in winter pose a challenge for the market. Seasonal demand nature of ski gear and equipment products also negatively impacts manufacturers. Furthermore, high cost of equipment remains a key restraint for the market especially in developing countries.
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