Europe ski gear & equipment market is projected to reach USD 1,567.05 million by 2024, witnessing a CAGR of 2.78% during the forecast period (2019
2024). Increasing participation rate in outdoor activities like skiing and other snow sports increased government initiatives to encourage participation in skiing, and growth in the number of ski resorts are some of the major factors contributing to the increased sales of ski gear & equipment across the region.
New York, Oct. 17, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Ski Gear & Equipment Market - Growth, Trends and Forecasts (2019 - 2024)" - https://www.reportlinker.com/p05821508/?utm_source=GNW
Moreover, the growth in the tourism industry is encouraging people to participate in various winter sports such as skiing, snowboarding, etc. For instance, according to The World Travel & Tourism Council, the contribution of travel and tourism to GDP in France reached Euro 204.3 billion in 2018, while it was Euro 197.7 billion in 2012.
In order to gain a competitive advantage and add convenience of usage, manufacturers are launching lightweight boots and innovative helmets. For instance, helmets equipped with latest AR-technology. The small camera on the helmet captures the surroundings on the slope, providing skiers with visual information such as elevation and speed. Furthermore, the helmet features headphones and a microphone.
However, factors such as changing weather conditions and easy availability of rental and counterfeit products are restraining the growth of ski gear & equipment market.
Scope of the Report
Europe ski gear & equipment market offers a range of products, including skis & poles, ski helmets, ski boots, and other protective gear and accessories through specialty stores, online retail stores, and other distribution channels. The market studied is segmented by end-user (men, women, and children). The study also covers the regional level analysis of the major countries like Austria, Switzerland, France, Italy, Germany, United Kingdom, Sweden, Norway and rest of European countries.
Key Market Trends
Strong Penetration of Winter Sport Along with Favorable Government Support
The skiing sport is by far the most anticipated sports within the winter sports industry followed by snowboarding in the region. Popular destinations in Europe, such as Chamonix, St Moritz, Val Thorens, Kitzbuhel among others have been facilitating the winter sports in the region. Overall, the region boasts around 3,647 ski resorts, where affordable resorts were becoming more prominent over the last few years. Apart from sports participation, the favorable weather condition is attracting tourists from different parts of the world who are indulging in winter sports. In addition, various governing bodies and sports associations, such as the German Skiing Association, are actively supporting the participants by sponsoring high-quality equipment and garments to enhance their performance during various competitions. Similarly, in 2017, Swiss-Ski, a skiing governing body, entered into a partnership with Under Armour to provide Swiss-Ski alpine skiers with optimum equipment as part of its summer training for Olympic Games. Thus, strong penetration of winter sports across the region along with favorable government support is expected to propel the growth of the market during the forecast period.
Rising Women Participation Rate
In recent years, the number of women participants in various sports have surged globally including snow sports such as skiing. Vendors are introducing ski gear & equipment specifically for women. Though the participation rate of women in skiing is less in comparison to men, the manufacturers are playing a vital role in encouraging women by providing customized equipment that are designed specifically for them with increased safety and comfort level, such as narrow ankles and size discrepancies. In addition, key vendors are differentiating their offerings by categorizing them into various level such as intermediates, advanced, and professional. For instance, Coalition Snow is one of key vendor that manufactures women’s outdoor recreational equipment such as skis and snowboards. Thus, the growing adoption of ski gear & equipment by women indicates a boost to the market’s growth.
The European ski gear and equipment market is highly competitive and major players are focusing on differentiating their offerings, through product launches and mergers and acquisitions, in order to enhance their brand portfolio to cater to various preferences of consumers. For instance:
- In March 2018, Alpina introduced a range of innovative boots that feature the exclusive InTemp control system, a fully integrated heating system designed to keep skiers’ feet warm and comfortable, which comes with a battery-powered warmth at the touch of a button.
Furthermore, expansion was also one of the key strategies used by key market players to tap newer markets and widen their production facilities. Since the European market shows a great potential for ski gear and equipment more than any other region in the world, key market players are focusing upon geographical expansions to strengthen their hold in the market. For instance:
- In October 2018, Groupe Rossignol opened the first Parisian flagship store of the brand. Items available in the store include alpine ski, Nordic ski, ski boots, technical equipment, ski wear, etc.
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