The global winter sports equipment market size is expected to reach USD 22.2 billion by 2028, registering a CAGR of 6.5% over the forecast period, according to a new report by Million Insights. 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, which, in turn, is expected to drive the market over the assessment period.
The skies segment 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.
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The offline segment dominated the market and accounted for the highest 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.
North America dominated the 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. This can be credited to the increasing demand for winter sports equipment in this region.
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Winter Sports Equipment Market Report Highlights
• Asia Pacific is expected to register the fastest CAGR of 7.1% from 2021 to 2028 owing to the rising demand for winter sports in the region
• The skies segment accounted for the largest revenue share of over 40.0% in 2020 owing to increasing skiing competitions
• The offline segment dominated the market and accounted for the highest revenue share of over 70.0% in 2020 owing to its increasing sales
• The online segment is estimated to showcase significant growth over the forecast period as these products are available at low cost and also provides offers and discounts
Winter Sports Equipment Market Segmentation
Million Insights has segmented the global winter sports equipment market on the basis of product, distribution channel, and region:
- Winter Sports Equipment Product Outlook (Revenue, USD Million, 2017 – 2028)
- Skies
- Snowboards
- Others
- Winter Sports Equipment Distribution channel Outlook (Revenue, USD Million, 2017 – 2028)
- Online
- Offline
- Winter Sports Equipment Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- U.S.
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- Japan
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
- North America
List of Key Players of Winter Sports Equipment Market
- 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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