Winter Sports Equipment Market Size to Grow by $ 834.99 mn During 2021-2025
Technavio has been monitoring the winter sports equipment market and it is expected to grow by $ 834.99 mn, accelerating at a CAGR of almost 5% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Winter Sports Equipment Market: North America to lead market growth during the forecast period
Winter Sports Equipment Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. American Athletic Shoe Co., ANTA Sports Products Ltd., Clarus Corp., EDEA srl, Fischer Sports GmbH, GRAF SKATES AG, Icelantic LLC, Roces S.r.l., SCOTT Sports SA, and SKIS ROSSIGNOL SA are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Winter Sports Equipment Market: Key Highlights of the Report for 2021-2025
The Global Winter Sports Equipment Market has the potential to grow by $ 834.99 mn during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of over 5% .
This winter sports equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by Product (SP SB and HS, Footwear, Protective gear, and Others), Application (Skiing, Ice hockey, Snowboarding, and Figure skating), and Geography (North America, Europe, APAC, South America, and MEA). The winter sports equipment market report also offers information on several market vendors, including American Athletic Shoe Co., ANTA Sports Products Ltd., Clarus Corp., EDEA srl, Fischer Sports GmbH, GRAF SKATES AG, Icelantic LLC, Roces S.r.l., SCOTT Sports SA, and SKIS ROSSIGNOL SA among others.
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The Consumer Discretionary sector is expected to have NEGATIVE impact due to the spread of COVID-19 virus. Even if the spread of the virus is contained, we expect that it may take more than two quarters (six months) to reach a normal state of economic activity.
Winter Sports Equipment Market Growth Drivers & Trends
The growing interest in sports activities has had a direct impact on the growth and proliferation of winter sporting tournaments. The number of figure skating and ice skiing competitions held globally, as well as training clubs, is increasing, which can be attributed to the rising number of players. The rising number of skating events and competitions around the globe has further increased the demand for skating equipment. The rising popularity and number of sports tournaments is one of the key factors driving the growth of the market during the forecast period.
The rising participation rate in professional ice hockey competitions is one of the key factors expected to propel the market in forthcoming years. Owing to the increased popularity of winter sports in developing economies, the demand for various winter sports equipment has grown considerably in recent years. Sports enthusiasts in the advanced economies are also focusing on making winter sports a mainstream profession. The above-mentioned factors will increase the demand for equipment used in different applications such as skiing, ice hockey, snowboarding, and figure skating.
Winter Sports Equipment Market: Report Highlights:
Market Segmentation by Product