Ski Gear & Equipment Market is experiencing is Rampant Growth Worldwide as Companies from Emerging Economies like Anta Sports Take Major Lead in the Market

 

Skiing is a competitive sport or recreational activity where contestants use skis and skate on snow. Various skiing sports or activities are acknowledged by the International Olympic Committee as well as International Ski Federation. There are different products and equipment used in skiing activities such as ski boots, skis and poles, ski protective gear and accessories, ski glasses, and more. Ski gear and clothing manufacturers have been diversifying their offerings to meet the growing needs of the ski, snowboard, and related industries. It has been observed that during periods of economic turmoil there is a large upsurge in sales of clothing and ski gear as people seek a safe alternative to their hard-earned money. In the same vein, it has been observed that ski apparel manufacturers have recognized the need for effective ski wear protection against the elements. Thus, they have taken steps to provide better ski apparel for both the wearer and those skiing with them.

Rising participation rate in outdoor activities such as snow sports is expected to drive growth of the global gear & equipment market during the forecast period. More and more people are participating in outdoor activities such as skiing and snow sports. The governments of many countries have taken initiatives to encourage participating in skiing. This, in turn, has supported growth in the number of ski resorts. For instance, in November 2020, the Government of Ladakh, India announced to set up a snow skiing institute in Kargil to promote winter sports. Such efforts from the government have led increased participation in skiing and snow sports, eventually boosting the demand for ski gear and equipment. Thus, these factors are expected to drive growth of the global ski gear and equipment market during the forecast period. Furthermore, rising disposable income of people across the globe is expected to propel the global ski & gear equipment market growth in the near future.

However, high cost associated with equipment is expected to restrain growth of the global ski gear & equipment market during the forecast period. Among regions, Europe is expected to witness significant growth in the global ski gear & equipment market during the forecast period. This is owing to the presence of premier destinations across the Alps and Pyrenees in the region. Furthermore, North America is expected to register a robust growth rate over the forecast period, owing to increasing engagement in skiing activities in the region.

Key players involved in the global skiing gear and equipment market are Anta Sports, Vista Outdoor Inc., Fischer Beteiligungsverwaltungs GmbH, Clarus Corporation, Skis Rossignol SA, Kohlberg & Company LLC, Coalition Snow, and Alpina DOO.  

For instance, in December 2018, Anta Sports, a China-based sports gear manufacturing company, acquired Amer Sports, a Finnish sports apparel company.