The ski equipment market is projected to progress at a compound annual growth rate (CAGR) of 5.15 percent from 2021 to 2026, according to a new report by research firm Technavio. Growth will be primarily driven by increasing participation rates in skiing and other snow sports.
The rising trend of freeride skiing stands out as one of the major trends positively impacting the ski gear and equipment market. The advancement of this sport is being driven by a variety of tournaments, particularly in Europe and North America. Safety in freeride skiing necessitates appropriate equipment with specific requirements, and this has fueled the market growth during the forecast period.
Europe is estimated to contribute 45 percent to the growth of the global market during the forecast period, with growth propelled by a notable increase in female participation, governmental initiatives, the proliferation of snow sports venues and resorts, and the wellness-oriented appeal of snow sports. France, Austria and Italy are the pivotal markets for the ski gear and equipment industry in Europe. Globally, the leading markets for ski equipment are the U.S., Japan, France, Austria, and Italy.
On a negative note, the increasing availability of counterfeit products is a major challenge hindering the ski gear and equipment market growth. Replicas offered by unregistered vendors are often available on the web, causing problems for both established manufacturers and potential buyers. The surge in counterfeit product availability is predicted to impede market growth while also negatively impacting the reputation of legitimate ski equipment manufacturers during the forecast period, according to the report.
Photo by Kipras Štreimikis on Unsplash
