LONDON--(BUSINESS WIRE)--The ski equipment market size is expected to post a CAGR of over 1% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The increasing number of skiers globally is one of the major reasons for the market growth. The number of people visiting skiing resorts has increased significantly in recent years, due to the rising interest in skiing. Some of the countries that have the highest number of ski resorts include the US and France. The total number of visitors to skiing regions in the US increased by about 11%, between 2018 and 2019. Thus, the rising number of skiers and ski resorts will drive the growth of the ski equipment market during the forecast period.
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As per Technavio, the increasing initiatives to increase the popularity of skiing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Ski Equipment Market: Increasing Initiatives to Increase the Popularity of Skiing
The popularity of skiing has increased tremendously in developing economies such as China and India, over the last few years. This growth in popularity is attributed to the increasing initiatives taken by various governments to promote skiing. The Chinese government has introduced several initiatives to increase the popularity of skiing in the country. Similarly, the Indian government has also announced plans to construct new skiing areas in the country. Such initiatives are expected to drive the popularity of ski equipment during the forecast period.
“Apart from the increasing initiatives to increase the popularity of skiing, other factors such as the introduction of new technologies, and the personalization of ski equipment will have a positive impact on the ski equipment market growth during the forecast period,” says a senior analyst at Technavio.
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Ski Equipment Market: Segmentation Analysis
This market research report segments the ski equipment market by geography (APAC, Europe, MEA, North America, and South America), product (skis and poles, ski boots, ski bindings, and ski protective gear and others) and distribution channel (specialty and sports shops, chain stores, and online channels).
The European region led the market in 2018, followed by North America, APAC, South America, and MEA respectively. The growth of the ski equipment market share in Europe can be attributed to factors such as the growing popularity of skiing, the launch of new products by vendors, and the integration of new technology in ski equipment.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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