Global Ski Equipment Market to Witness Growth Through 2020 Owing to Increasing Initiatives to Popularise the Sport: Technavio

LONDON--()--Technavio analysts forecast the global ski equipment market to exceed USD 5.7 billion by 2020, according to their latest report.

The research study covers the present scenario and growth prospects of the global ski equipment market for 2016-2020. In order to calculate the market size, the report has taken into consideration the revenue generated from the retail sales of different types of ski equipment to individual consumers, clubs, and sports organizers.

Skiing is a popular sport with over 110 million skiers across the globe recorded in 2015. The US continues to remain the most preferred destination for skiing as it has around 14 million skiers. Also, Europe has around 60 million skiers who ski mostly in the Alps.

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Technavio analysts highlight the following three factors that are contributing to the growth of the global ski equipment market:

  • Increasing use of helmets
  • Growing ski infrastructure
  • Increasing initiatives to encourage participation in skiing

Increasing use of helmets

Skiing has more recreational players than professional skiers. The rule of wearing protective gear like helmets is not compulsory in recreational sports. For example, ski helmets used by the skiers in Canada are not governed by any mandatory Canadian safety standards. However, there is a growth in the number of helmets used by the skiers. In Canada, the usage of helmets increased from 30% in 2003 to 85% in 2015. Such growth in the use of helmets is a key driver in this country.

Not only Canada, the US too, does not have any compulsory rule for wearing helmets. Despite the absence of the helmet rule in the country, the use of helmets is increasing. Every year, the US reports more than 16,000 head injuries from winter sports which include skiing, sledding, snowboarding, and snowmobiling. “Awareness about head injuries in this sport is driving the use of helmets across the world, with a significant increase in the sale of helmets witnessed in the Alps, France, Italy, and Austria,” says Mantri Charan Kumar, a lead analyst at Technavio for outdoor gear research.

Growing ski infrastructure

Skiing Infrastructure is being developed across the globe as it promotes tourism and thus helps the economy of the country. In South Korea, a major development for skiing infrastructure is going on for the Winter Olympics 2018. The government invested USD 10 billion in the development of infrastructure for winter sports, which includes ski slopes. South Korea has a lot of night ski infrastructure, which will be the driving factor for the growth of the ski equipment market in the region. Even China, which is hosting the Winter Olympics in 2022, is seeing development of ski infrastructure. As of 2016, China has around 10 million skiers and the government is trying to increase this to 300 million before the Winter Olympics in 2022.

The development of infrastructure can be seen not only in Asia, which is an emerging market for skiing, but also in Europe. In Austria, a brand new 8-person chairlift began its service in Kitzbühel Ski Resort from winter season 2015. “Thus, the global large scale development of infrastructure is driving people to indulge in skiing sports, which in turn, will help the ski gear and equipment market to grow,” says Mantri.

Increasing initiatives to encourage participation in skiing

Many countries across the globe with access to snow mountains are increasing initiatives to increase participation in skiing, as the skiing industry contributes to the economy of these countries. In 2015, the ski industry contributed around USD 5 billion to Colorado's economy. Skiers not only spend on equipment, but also on lodging in resorts, transport, etc. Such expenditure has helped grow the economy. Vail Resorts, the largest ski resort company in Colorado, is playing a key role in taking initiatives to increase participation.

Other than the resorts, governments are also introducing various initiatives to increase participation in the sport. Ski & Snowboard Australia (SSA), the competitive snow sports' governing body in Australia, launched Little Shredders in 2016, a program to teach children the basics of snow sports without actually visiting the slopes. This program aims to engage more than 850,000 children and 5,700 schools across Australia, making it the country's largest school-based program ever. SSA secured special funding from the Australian government to increase the participation of school children. In 2015 in New York, US, the Governor of New York promoted the Ski NY Spring Break campaign to attract tourists to ski in the Adirondack region. This promotion attracted hundreds of participants which included federal, state, and local elected officials, as well as sporting enthusiasts from across the state. World Snow Day (launched in 2012) by International Ski Federation or Fédération Internationale de Ski (FIS) was organized across 39 countries with over 200,000 participants. This event had many snow activities including skiing competitions, recreational skiing, skiing lessons, etc. The event has become bigger in 2016, with more than 580,000 participants. It is organized across 42 countries with 625 snow events. Such large scale initiatives are also helping the market to grow.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global ski equipment market to exceed USD 5.7 billion by 2020, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com