The global winter sports equipment market size was valued at USD 13.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2021 to 2028. This can be credited to sports enthusiasts in the advanced economies who are focusing on making winter sports a mainstream profession. The market is majorly driven by the rising popularity and the number of sports tournaments. The increasing participation rate in ice hockey competition is a key factor estimated to propel market growth over the forecast period.
In North America and Europe, winter sports are seen as a glitzy leisure industry that brings together healthy sports activity, hospitality, and tourism. It is one of the important industries in European Alps and growth of this industry act as a key factor for market growth. Along with this, increased women’s participation in winter sports is also seen increasing. Hence the demand for winter sports equipment is seen rising over the assessment period.
The covid-19 pandemic has crippled the winter sports equipment industry. It severely affected the industry due to strict lockdown across the globe. Hotels, ski resorts, and tourism operators have all been affected due to the pandemic. Due to the ongoing lockdown, the supply chain was disturbed. Various businesses and industries were closed. This adversely affected the overall sales of this winter sports equipment.
The skies segment dominated the market and accounted for the largest revenue share of over 40.0% in 2020 owing to increasing skiing competitions. This can also be credited to constant innovation in these products. Also, the increasing number of people pursuing skiing as recreation and growth in the number of ski resorts are other factors boosting segment growth over the forecast period. The growing initiatives by governments to encourage people in skiing are also expected to boost segment growth in coming years.
The snowboards segment is expected to register the highest CAGR of 6.7% from 2021 to 2028 due to its significant increasing demand in the winter sports industry. Snowboards are in high demand mostly in European countries as these are used for surfing down hills covered. It is one of the most widely used forms of winter sports equipment.
The offline segment dominated the market and accounted for the largest revenue share of over 70.0% in 2020. The demand for winter sports equipment is rising among customers due to more sustainability offered by these offline stores than any other channel. Hence the segment is projected to show growth during the assessment period.
The online segment is estimated to showcase significant growth over the forecast period. Winter sports equipment can be purchased at a low price via online platforms. Such channels can provide various benefits such as free shipping charges, coupon benefits, and other offers. Moreover, many online products from the rising incidence of app-based sellers that are significantly popular are also driving the segment over the forecast period.
North America dominated the winter sports equipment market and accounted for the largest revenue share of more than 44.0% in 2020 due to high demand in the U.S and Canada. Also, the increasing purchasing power towards these products will drive the segment growth. As the region presents various opportunities for the consumer goods sector, the industry is projected to showcase significant growth.
In Asia Pacific, the market is expected to witness a CAGR of 7.1% from 2021 to 2028. The increased inflow of tourists has led to rising demand for winter sports equipment products. South Korea hosted the winter Olympics in 2018 and Tokyo hosted the same Olympics in 2021, which, in turn, has driven the winter sporting in this region. Hence this region is estimated to show the fastest growth rate over the forecast period.
Companies' main focus is on innovating products of winter sports equipment to meet the increasing demand. Various new players are entering the market due to low entry barriers. The increasing demand for winter sports equipment offers an opportunity for product development in regions of high demand. Some of the prominent players in the winter sports equipment market include:
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Report Attribute |
Details |
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Market size value in 2021 |
USD 14.3 billion |
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Revenue forecast in 2028 |
USD 22.2 billion |
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Growth Rate |
CAGR of 6.5% from 2021 to 2028 |
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Base year for estimation |
2020 |
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Historical data |
2017 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2028 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Product, distribution channel, region |
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Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
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Country scope |
U.S.; Germany; U.K.; France; China; Japan; South Africa; Brazil |
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Key companies profiled |
ANTA Sports Products Ltd.; American Athletic Shoe Co.; EDEA srl; Clarus Corp.; GRAF SKATES AG; Fischer Sports GmbH; Icelantic LLC; SCOTT Sports SA; SKIS ROSSIGNOL SA; Roces S.r.l. |
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Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global winter sports equipment market report on the basis of product, distribution channel, and region:
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