Sales of Winter Sports Equipment is Anticipated to Surge at a Valuation of US$ 3.6 billion by 2031 - Reveals TMR Study

WILMINGTON, DE / ACCESSWIRE / June 7, 2023 / Transparency Market Research Inc. - The global winter sports equipment market is likely to garner a steadily expanding CAGR of 4.1% from 2023 to 2031. In 2022, the market for winter sports equipment was estimated at US$ 2.5 billion, and by the end of 2031, it is anticipated to reach US$ 3.6 billion.

The winter sports equipment industry is continually innovating new technologies and goods to stay up with swiftly changing global trends. Manufacturers through the development of new wearables are improving the performance and accuracy of skiing sports. For example, Snowcookie, a manufacturer of smart skiing systems, introduced the SKEO Snowcookie sensor, a cutting-edge ski technology, in August 2018. Snowcookie has developed competence in creating multi-sensor systems that gather data on technique, speed, and body position.

Consumer knowledge about fitness and wellness is rising, which is encouraging more people to participate in winter sports and driving the growth of the winter sports equipment industry. For example, the snow season has a significant impact on the ski business in North America as well as Europe. In the winter, there are more tourists and visitors, which has increased demand for ski equipment rentals, fueling growth in the market for winter sports equipment.

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Market Snapshot:

Key Findings of Market Report

• Consumer awareness of health and fitness is rising, which is encouraging more people to participate in winter sports and driving the growth of the winter sports equipment industry.
• Skiing gear, such as skis and poles, is becoming more and more popular. Skiers utilize this equipment for propulsion and balance in a variety of competitive winter sports.
• The skiing market is anticipated to expand significantly throughout the forecasted period.
• With an increase in retail locations specializing in a range of sports equipment for winter sports, it is anticipated that the offline chain will experience noticeable development in the upcoming years.

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The Global Market for Winter Sports Equipment: Key Trends

• The markets for snowboarding and skiing are expanding. Sales of skiing equipment, such as skis, boots, snowboards, helmets, bindings, and goggles, have increased as the number of skiers and snowboarders has risen. Other winter sports accessories are in great demand as players choose to buy their own equipment for everyday usage.
• Skiing gear, such as skis and poles, is becoming more and more popular. Skiers utilize this equipment for propulsion and balance in a variety of competitive winter sports. The need for top-notch skis and poles is increasing as skiing gains popularity as a wintertime competitive sport.
• Skis are used for alpine skiing, cross-country skiing, and freestyle skiing. The demand is anticipated to increase further and hold a commanding proportion in the global market.

Global Winter Sports Equipment Market: Regional Outlook

• With the increasing number of athletes competing in winter sports, the North American area is predicted to have a significant rise throughout the projection period.
• Winter sports are becoming increasingly popular among athletes in developed nations like the United States and Canada, which is anticipated to be a key element accelerating market expansion.
• Over the course of the predicted period, the European area is also expected to experience substantial growth. Numerous athletic events are held in nations including Spain, France, Switzerland, Austria, and Germany, some of Europe's most popular ski resorts. They have created the necessary infrastructure to encourage more people to engage in physical activity, which has led to an increase in demand for winter sports throughout the European area.

Global Winter Sports Equipment market: Key Players

Some of the key players in the global winter sports equipment market are:

• Alpina Sports GmbH
• ELAN D.O.O.
• Fischer Sports GmbH
• Head Sport GmbH
• Icelantic Skis
• Jarden Corporation
• Mascot Bidco Oy
• Rossignol Group
• Tecnica Group S.p.A.
• UVEX Winter Holding GmbH & Co. KG

Some developments by the key players in the global market for winter sports equipment are:

• Rossignol Group stated in December 2022 that a multi-brand mountain sports outlet will open in Quebec. Sports Bromont, a local retail partner, manages the store, which has assisted the business in gaining market awareness and concentrating on creating a growth strategy to enhance its position in the neighborhood.
• UVEX Winter Holding GmbH & Co. KG declared in January 2022 that it will buy the majority of HexArmor. The company was able to expand its product lines and serve the North American market thanks to the purchase, which also helped to establish considerable market potential for winter sports equipment.
• CCM introduced their new Eflex 5 Goalie product range in April 2021. Goal gloves, pads, and blocks are among the available products.
• The Goplus brand sells the Goplus Snow Racer Sled, which has a deep digging braking mechanism, an independent steering system, and an automated self-retracting bungee rope for conveniently hauling children on their sled.

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Global Winter Sports Equipment Market Segmentation

• Product Type
  • Equipment
    • Ski
    • Ski Poles
    • Snowboard
    • Ice Hockey Stick
    • Ice Boots and Skates
    • Binding
    • Sleds
    • Others (Snow Tubes, Ice Cleats, etc.)
  • Protective Gear and Accessories
    • Helmet
    • Goggles
    • Arm and Knee Guard
    • Chin Guard
    • Gloves
    • Others (Mouth Guard, Face and Neck Protector, etc.)
  • Others (Transceiver, Shovel, etc.)
• Sports
  • Skiing and Snowboarding
  • Ice Hockey
  • Ice Skating
  • Snow Rugby
  • Others (Biathlon, Luge, Sledding, Snow Tubing, etc.)
• Level
  • Amateur
  • Professional
• Consumer Group
  • Men
  • Women
  • Kids
• Price
  • Below US$ 500
  • US$ 500 - US$ 1,000
  • Above US$ 1,000
• Distribution Channel
  • Online
    • Company-owned Website
    • E-commerce Portals
  • Offline
    • Hypermarket / Supermarket
    • Specialty Stores
    • Others (Independent Sports Stores, Department Stores, etc.)
• Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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