Alpine Ski Equipment Market Strikes Surging CAGR Growth during Assessment Period
Alpine skiing is a recreational as well as a competitive winter sport, with a rising number of individuals taking part in the sport. Although it is not mandatory to use helmets in most of the alpine skiing locations, adoption of helmets continue to increase on the back of awareness about head injuries. Alpine skiing infrastructure has been witnessing development across the globe, promoting tourism, and even driving a country’s economy.
[EUPRwire, Fri Jul 12 2019] A new report by Fact.MR projects that the global alpine ski equipment market will register a moderate expansion during the forecast period (2017-2022). Revenues from the global market for alpine ski equipment are expected to reach roughly US$ 700 Mn by 2022-end.
Equipment used by individuals in Alpine skiing i.e. sliding down the snow-covered hills are referred to as alpine skiing equipment. These equipment include skis, bindings, boots, and helmets. These equipment ensure safety of individuals while sliding down the slopes, preventing head and knee injuries.
Alpine skiing is a recreational as well as a competitive winter sport, with a rising number of individuals taking part in the sport. Although it is not mandatory to use helmets in most of the alpine skiing locations, adoption of helmets continue to increase on the back of awareness about head injuries. Alpine skiing infrastructure has been witnessing development across the globe, promoting tourism, and even driving a country’s economy. For example – in South Korea, a major development in skiing is being undertaken for supporting the 2018 Winter Olympics. Alpine ski resorts are continuously extending their facilities in well-established ski regions including North America and Europe. This large-scale development of alpine skiing infrastructure is attracting more individuals to participate in the sport. In addition, several ski economies have been expanding their initiatives for increasing the rate of participation in alpine skiing, and to reap economic benefits. Ski & Snowboard Australia (SSA), the governing body of competitive snow sports in Australia, had recently launched a program, called “Little Shredders”, for teaching children basics of alpine skiing without visiting slopes.
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The infrastructure of alpine skiing is witnessing rapid development across ski regions, driving economy of these regions, and promoting tourism. Huge development in skiing is being witnessed in South Korea, with an aim to support Winter Olympics in 2018. Moreover, alpine ski resorts are concentrating on extension of their facilities across well-established ski economies, such as Europe and North America. This large scale alpine skiing infrastructure development is adhering more individuals for participating in this sport. These factors will further drive the market growth in the near future.
9 Key Estimations on Future of Global Alpine Ski Equipment Market
>110 mm size of alpine ski equipment is expected to remain sought-after among people around the world, accounting for over 80% revenues share of the market throughout the forecast period.
70-79 mm alpine ski equipment sales are estimated to exhibit the highest CAGR in the market through 2022.
Sales of alpine ski equipment in online sales channel are expected to ride on a CAGR of 4.3% through 2022.
Specialty stores will remain the most lucrative sales channel in the global alpine ski equipment market, with sales projected to surpass revenues worth US$ 240 Mn by 2022-end.
On the basis of equipment type, alpine bindings will witness the fastest expansion in sales during 2017 to 2022.
Alpine boots, estimated to account for nearly one-third market revenue share, will continue to be the top-selling equipment in the market over the forecast period.
North America is anticipated to retain its dominance in the market, in terms of revenues. However, sales in Asia-Pacific excluding Japan (APEJ), and Middle East and Africa (MEA) will exhibit a relatively higher CAGR through 2022.
Based on price range, economy segment is expected to remain preferred among individuals across the globe, with sales poised to surpass US$ 250 Mn in revenues by 2022-end.
Key market players profiled in the report include Nordica S.p.A., Kneissl Tirol GmbH, Head NV, Skis Rossignol SAS, Fischer Sports GmbH, Clarus Corporation, Newell Brands Inc., and Amer Sports Corporation.
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