Skis & Snowboards Market Size, Share, Growth, And Industry Analysis By Type (Skis & snowboards) By Application (Leisure Travel, Professional Sports, And Others), Regional Insights, and Forecast From 2024 To 2031

Skis & Snowboards Market Report Overview

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The global skis & snowboards market size was USD 1564 million in 2022 and is expected to reach USD 2968.62 million in 2031, exhibiting a CAGR of 7.4% during the forecast period.

As a winter activity, gliding across the snow surface requires ski equipment, such as skis & snowboards. There are a lot of people that are professional athletes and hikers who use skis & snowboards to wade through the snowplanes. Depending on the snow conditions and the type of winter sport being pursued, there are many skis & snowboards available. They also come in a range of designs and sizes. Other styles of skiing that demand the usage of skis & snowboards marketplaces include jumping, telemark skiing, alpine skiing, Nordic skiing, freestyle skiing, and others. But there are other pieces of gear, including snowmobiles, sleds, and bikes, that can take the place of skis & snowboards.

Since winter activities are becoming more and more popular among people, the market for skis & snowboards is expanding gradually. The market revenue for skis & snowboards has increased dramatically, which is also a result of the tourism sector's quick global expansion. The popularity of traveling to snowy locales among huge populations and the commercialization of sports are further factors driving the rise of the ski and snowboard market. Another explanation is that most people favor snowy mountains for a quick escape, despite the government's push to increase tourism throughout the nation to benefit the economy.

COVID-19 Impact: Disrupted Supply Chain Stumps Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with skis & snowboards market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The abrupt discovery of the deadly COVID-19 virus in the first trimester of the year 2020 has had a variety of effects on people all across the planet. Due to the pandemic's disruption of the global supply chain, the international market was forced to experience its devastating effects. Similar to how the global supply chain's disrupted operations caused a massive decline in the ski and snowboard business. The suspension of skis & snowboards manufacturing across companies owing to the installation of lockdown didn't help either; the skis & snowboards market growth was stalled due to the shortage of transportation for the equipment as well as the prohibition on leisure travel to stop the spread of the extremely contagious illness.

Latest Trends

"Integration Of Technology Boosts Market Value"

Due to their commitment to creating a variety of novel pieces of equipment that will enhance the skiing and snowboarding experience, the ski and snowboarding industry is poised to become more innovative in the next years. For example, at beginner, intermediate, and advanced levels, the producers are producing a wide range of equipment in accordance with the personal development in that sport. In 2019, an Israeli business released a helmet with augmented reality technology that enables users to stay connected to the internet and communicate with friends and family.

Skis & Snowboards Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into skis & snowboards. The segment of skis is expected to dominate the market during the forecast period.

• By Application Analysis

Based on application, the market can be divided into leisure travel, professional sports, and others. The leisure travel segment will lead the market during the market years 2022-2028.

Driving Factors

"Growing Tourism Sector Augments Product Demand"

Since the last few years, there has been a tremendous increase in the tourist industry all over the world; this could be linked to people's increased disposable income. The world's economic conditions have a positive impact on the tourist industry, which is expanding in both popularity and size. The expansion of the market for skis & snowboards is directly impacted by the tourist industry's consistent performance since snowy regions are the most popular travel destinations. For the joy of participating in winter activities, many individuals even prefer to take vacations near snow-capped mountains.

"Winter Sports Activities Popularity Exacerbates Market Expansion"

The market for skis & snowboards has advanced due to the growing popularity of winter sports, with skiing continuing to be the most popular sport and recreational activity in the snow. The emergence of several resorts is also having an impact on the market for skis & snowboards, as these resorts enhance the industry by including a variety of winter activities in their vacation packages for their visitors. One of the drivers for the market expansion is the quantity of government advertising efforts for skiing and ice skating.

Restraining Factors

"Safety Concerns Hampers Market Development"

Although the market for skis & snowboards is increasing, customer safety worries about major injuries have been impeding growth. Since the beginning of this sport, skiing has been considered a high-risk activity due to the variety of threats it poses. Despite the use of helmets and other safety equipment, the fear of suffering a serious injury and the dangers of skiing have discouraged many people from trying it, which has affected the market value of skis & snowboards equipment.

Skis & Snowboards Market Regional Insights

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"Due To Increased Outdoor Activities, Europe Pioneers"

The European region is made up of nations such as England, France, Switzerland, Finland, Sweden, Austria, Norway, and many others. Since many of these nations provide the ideal settings for participating in winter sports and other adventure activities, they have inspired a large number of people to engage in outdoor activities. The exponential success of the tourism business in the region is also responsible for making this the champion of having the majority of skis & snowboards market shares.

Due to the large number of people engaging in recreational and trekking activities, North America ranks second in the world for product usage. Due to the region's frequent snowfall, one of the biggest numbers of individuals uses these tools and gear.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP SKIS & SNOWBOARDS COMPANIES

• K2 (U.S.)
• Rossignol (France)
• Salomon (France)
• Atomic (Austria)
• Fischer (Germany)
• Volkl (Germany)
• Elan (Slovenia)
• Black Diamond (U.S.)
• Scott (Switzerland)
• Tecnica Group (Italy)
• Wedze (United Kingdom)
• Dynafit (Germany)
• DPS (U.S.)
• Black Crows (France)
• Kastle (Switzerland)
• Ski Trab (Italy)
• Movement (Canada)
• Hagan (Canada)
• ZAG (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors such as segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.