Ski gear and equipment refers to essential products which are used for skiing and snowboarding activities. It consists of ski poles, boots, bindings, skis, and protective gear like helmets, goggles and jackets. With increase in participation in winter sports, ski gear and equipment manufacturers continue to innovate and develop lightweight, durable and high performing products to meet evolving consumer needs.

The 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 Dynamics:
Increase in participation in winter sports activities is driving the growth of the market. According to National Ski Areas Association, the mountain resort industry in the United States witnessed an increase in skier visits from 60.5 million during the 2016-17 winter season to 62 million during the 2017-18 winter season. High rise in interest for adventure, extreme and action sports among millennials and Generation Z is further boosting the market growth. Additionally, technological advancements in product design and materials used are enhancing product performance. For instance, advancement in fabric materials has led to development of highly durable and waterproof jackets and pants. Also, innovations in boot and binding technology have improved ski control and safety.

SWOT Analysis

Strength: Ski gear and equipment provides high safety for skiers during skiing. Modern gear such as skis, boots, poles, helmets etc are designed for comfort. Many new tech features like shock absorption in boots and edges in skis enhance performance. Established brands have strong foothold in global skiing community.

Weakness: Ski gear is expensive due to high material and RD costs involved. As technology evolves, gear needs frequent upgrades to remain relevant. Environmental impact of skiing causes pollution concerns. Issues like torn fibers or damaged soles can impact usability.

Opportunity: Emerging adventure tourist destinations are expanding ski resorts, driving new demand. E-commerce is enabling global reach for brands. Customized and performance-focused gear cater specific needs of skiers. Rental gear industry is growing with casual participation in skiing.

Threats: Warmer winters due to climate change may reduce snowfall, challenging traditional ski locations. Shift to alternative snow and water sports poses competition. Economic downturns impact discretionary spend on expensive gear. Trade barriers and regulations challenge global distribution.

Key Takeaways

The global ski gear and equipment market is expected to witness high growth, exhibiting CAGR of 2.9% over the forecast period, due to increasing popularity of winter adventure sports. Growth of ski resorts, winter sports destinations and rising disposable incomes are driving demand.

Regional analysis
The North American region dominates the ski gear and equipment market currently with a share of over 35% in 2023. Presence of major brands, large skier population and extensive network of resorts in the US and Canada support growth. Europe is the second largest market, led by countries like Austria, France, Switzerland and Italy with strong participation in alpine and Nordic skiing sports. Emerging economies in Asia Pacific and Middle East are witnessing fastest growth rate for ski gear, as snow attractions expand tourist infrastructure in regions like China, Japan and UAE.

Key players
Key players operating in the ski gear and equipment market are 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 brands enjoy strong brand loyalty and differentiate through technical innovations in product categories of ski boots, skis, bindings, poles, protective gear and clothing.