Sales of alpine ski equipment in online sales channel are expected to ride on a CAGR of 4.3% through 2022.
[EUPRwire, Mon Jun 10 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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In terms of revenues, North America is estimated to remain the most lucrative market for alpine ski equipment. Sales of alpine ski equipment in North America are expected to reach nearly US$ 200 Mn by 2022-end. Sales of alpine ski equipment in Asia-Pacific excluding Japan (APEJ) are poised to register the highest CAGR through 2022, followed by Middle East and Africa (MEA). Europe will continue to be the second largest market for alpine ski equipment over the forecast period.
Sales of alpine bindings are projected to exhibit the highest CAGR through 2022, based on equipment type. Accounting for approximately one-third revenue share of the market, alpine boots will remain the most lucrative equipment segment in the global market, followed by all alpine skis.
Specialty stores will continue to be the largest sales channel for alpine ski equipment, with sales estimated to exceed US$ 240 Mn in revenues by 2022-end. Online sales channel for alpine ski equipment is estimated to reflect 4.3% CAGR through 2022. On the basis of size, >110 mm alpine ski equipment will remain preferred among individuals across the globe. Revenues from this segment are anticipated to account for more than 80% share of the market during 2017 to 2022. Sales of 70-79 mm alpine ski equipment are projected to register the fastest expansion through 2022.
Sales of premium alpine ski equipment will exhibit the highest CAGR as compared to all the other price range segments through 2022. However, economy alpine ski equipment will continue to be sought-after in the market. Sales of economy alpine ski equipment will account for revenues over US$ 250 Mn by 2022-end.
Over the past few years, there has been a substantial rise in number of people participating in alpine skiing. Although helmets are not a mandatory equipment in this recreational and competitive winter sport, individuals prefer to use helmets owing to the awareness about head injuries. Most of the ski countries are focusing on expansion of ski initiatives, in a bid to accelerate the participation rate, as well as reap economic benefits. An example of this is the "Little Shredders" program launched by the SSA – Ski and Snowboard Australia, which is the governing body for the Australian competitive snow sports. Little Shredders program has been initiated for teaching the alpine skiing basics to children, without even visiting the slopes. These factors might influence growth of the global alpine ski equipment market over the forecast period.
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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