Winter Sports Equipment Market to Reach $32.83 Billion Globally by 2031 at a CAGR of 8.5%: Allied Market Research

The introduction of government sports initiatives in emerging economies is driving the growth of the global winter sports equipment market.

PORTLAND, Oregon., August 11, 2022 /PRNewswire/ — Allied Market Research has released a report titled, winter sports equipment market by product type (ski gear, boots, protective gear, other), by sport (snowboard, ski, ice hockey, other), by distribution channel (online, offline): analysis of global opportunities and forecasts industry, 2021-2031. » According to the report, the global winter sports equipment market generated revenue worth $14.69 billion in 2021, and is projected to reach USD 32.83 billion by 2031, registering a CAGR of 8.5% from 2022 to 2031. The market study provides detailed analysis of changing industry trends, most important segments, value chain analysis, key investment scenarios, regional space and competitive space.

Main determinants of growth

Introduction of government sports initiatives in emerging economies and increased awareness of fitness and sports along with increased popularity of winter sports equipment and apparel are driving the growth of the global sports equipment market of winter. Moreover, the demand for sporting goods and sports activities among young people and the improvement in the design of sports products complement the growth of the market. On the other hand, the increase in people’s interest in recreational activities compared to sports activities creates new opportunities. On the contrary, the emerging trends of offering winter sports equipment and clothing to the population belonging to various age groups present new opportunities.

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Covid-19 scenario

  • The COVID-19 pandemic has negatively impacted the expansion of the global winter sports equipment market, owing to the halt in the organization of sporting events across the globe.
  • Lockdown during the COVID-19 pandemic has resulted in low production and sales of winter sports equipment, thus hampering the growth of the global market.

The offline segment will maintain its leading position during the forecast period

In terms of distribution channel, the offline segment contributed the largest market share in 2021, accounting for more than four-fifths of the overall global winter sports equipment market share. Moreover, this segment is expected to maintain its leading position during the forecast period. Moreover, the offline segment is expected to register the fastest CAGR of almost 8.6% from 2022 to 2031. The report also provides an overall analysis of segments such as web.

The ski segment is expected to account for the highest market share by 2031

Based on product type, the ski segment held the largest share in 2021, contributing nearly two-fifths of the overall global winter sports equipment market share. Moreover, this segment is expected to account for the highest market share by 2031. However, the protective equipment segment is also expected to register the highest growth with a CAGR of almost 9.3% during the period. forecast. The report also provides an overall analysis of segments such as footwear and others.

The ski segment is expected to retain its dominant status over the forecast horizon

Based on sports, the skiing segment held the largest share in 2021, accounting for more than two-fifths of the overall global winter sports equipment market share. Moreover, this segment should maintain its dominant status over the forecast horizon. This is due to the increase in programs aimed at increasing skiing and an increase in the number of people who practice skiing as a recreational activity. However, the snowboard segment is expected to register the highest CAGR of almost 9.1% from 2022 to 2031.

Europe is expected to contribute majorly to the global market share in 2031

Based on the region, Europe contributed to the highest market share in 2021, accounting for nearly three-fifths of the global winter sports equipment market share. Moreover, the region is expected to make a major contribution to the global market share in 2031. This is due to the increase in the number of women participating in outdoor activities and the acceptance of winter sports wear like fashion accessory. However, the Asia Pacific The winter sports equipment market is also expected to register the highest CAGR of 10.9% during the forecast period. The research also analyzes regions such as LAMEA and North America.

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Main market players

  • Alpina Sport
  • American sports
  • BAUER Hockey, LLC
  • black crows
  • Clarus Company
  • MOMENTUM, DOO
  • Fischer Sports GmbH
  • Chief UK Ltd.
  • Icelantic Skis
  • K2 Sports SARL
  • MDV Sports
  • Rossignol Group
  • Tecnica Group SpA
  • SCOTT Sports SA
  • Under Armor Inc.
  • Volkl Int. GmbH

The report assesses these major players in the global winter sports equipment industry. These participants have executed a host of key business strategies such as regional and customer base expansion, product development, strategic collaborations and joint ventures to expand product breadth in global markets. The market research report supports tracking the performance of each segment, the positioning of each product in the respective segments, and the impact of new technologies and product launches on the overall market size.

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