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Alpine skiing or downhill skiing is a popular recreational as well as a competitive winter sports activity which involves sliding down on a snow-covered mountain slope with the help of skis. Pole, ski binding, boots, and helmet are some of the uniquely designed pieces of equipment used in this activity which ensure safety of individuals while sliding down the slopes along with preventing head and knee injuries.
Ski Models are designed according to skier’s ability to perform and are available in categories such as; advance, all-rounder, and novice. Earlier, skis were manufactured from a piece of wood, but later the bottoms of the skis were coated with plastic to increase their speed. Lately, the advent of synthetic polymers led to the elimination of wax for ski coating by most skiers.
Helmets though are not a necessity, are currently being substantially used with massive increase in head injuries being witnessed on the global level in this and other winter sports.
The global alpine ski equipment market is anticipated to grow at a CAGR of around 2.5% over the span of next 5 years.
The growth of this market is attributed towards major pertaining factors including; the growing number of participants in winter sports at the global as well as at the regional level, the increasing consumer awareness about the need for safety equipment in alpine skiing, the rising number of fatal incidents during sports activities globally, the growing prompting by event managers to use the necessary safety equipments, the rising favorable government initiatives in countries on encouraging the population to participate in skiing, the worldwide increasing number of participants in outdoor sports such as skiing and the growing new product launches by regional and universal players etc.
Additionally, the increasing number of investments and initiatives by the governments worldwide in winter sports activities to promote and create awareness about the benefits of skiing and other snow sports is creating massive market expansion opportunities for the near future in this market. One such example is the Ski & Snowboard Australia’s (SSA) ‘Little Shredders’ program to teach children about the basics of alpine skiing among others.
Moreover, the increasing customer preference for snow-related activities and the growing tourism activities globally is resulting in the large-scale development in the infrastructure of alpine skiing which is projected to comprehensively fuel the market growth of alpine ski equipments in the times to come. With that, the growing number of initiatives taken by countries to propel the participation rate of alpine skiing for reaping economic benefits also contributes considerably to the market growth.
Furthermore, other factors such as the globally growing popularity of snow sports, the increasing participation of people in different outdoor sports activities including winter sports and alpine skiing to maintain physical and mental health, the increasing number of female participants coupled with the rise in launching of several winter sports gear and ski equipment for female participants augment the growth of the market. Alongside, the escalating disposable incomes of people, the increasing number of skiing sport events such as Winter Olympics and the proliferating advertisement and content in social media platforms for promotional activities by companies, vloggers and others etc. comprehensively contribute to the expansion of the market growth.
However, the high cost of these equipments, the high risk of getting injured in these activities discouraging people from participating and the limitation in terms of geographical resources in different locations are factors hindering the growth of this market.
ALPINE SKI EQUIPMENT MARKET SEGMENTATION:
By Distribution Channel:
The North American region holds the largest share in the alpine ski equipment market and is anticipated to continue dominating in the market in the future years as well. The growth in the region can be well attributed to factors such as the increasing number of tourists in the region, the high presence of key players in the region, the rising investment in new products development, the strong hold of buyers participating in skiing as a recreational activity in countries such as the U.S. and Canada and the increasing number of women skiers on account of the introduction of new products and technologies for women safety etc.
The Asia Pacific region is the fastest growing regional market in the alpine ski equipments market and is projected to witness steep growth in the coming years as well on account of factors including the increasing awareness about winter sports events and the increasing government initiatives on snow-related sports & activities such as the Get into Snow Sports (GISS) initiative taken in China to develop and promote the snow sports globally and to promote ski in China.
The European region holds a prominent share in the global alpine ski equipment market and is anticipated to grow at a more than healthy growth rate in the next few years owing to the presence of major ski resorts across the Pyrenees and Alps which are extremely popular and the increasing presence of major players in the region.
Major countries organizing alpine skiing events are Austria, Switzerland, Japan, Germany, the U.S., and Canada.
FEW KEY PLAYERS IN ALPINE SKI EQUIPMENT MARKET: