Fact.MR, in its new report, has projected the global cross country ski equipment market to register a steady growth over the forecast period 2017 to 2024. Global sales of cross country ski equipment are estimated to exceed US$ 50 Mn in revenues by 2024-end.
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Equipment of cross country skiing have undergone significant changes since the days of bamboo poles, three-pin bindings, and knickers. At present, the available cross country equipment are geared to all competitive bents, shapes, and sizes of skiers, and are sleek & flashy. The cross country ski equipment manufacturers have been incorporating new technologies as well as lighter materials in their products, however basic equipment needs of skiers haven’t changed much, from the time of the activity’s inception. Various factors are taken into consideration while buying cross country ski equipment, including their performance, and endorsement of equipment by celebrities or by professional skiers. These factors are expected to impact growth of the global cross country ski equipment market.
Cross country skiing has witnessed a gradual transformation, becoming an intoxicating sport, as it involves high technical and physical skills. Cross country ski scales are relatively less expensive, and crowded, which is a factor driving its popularity. As it is a kind of an aerobic sport, and as low-intensity cross country skiing is considered to be similar to jogging, several health benefits are associated with the cross country skiing, which in turn is attracting more individuals for participating in this sport. These factors will further accelerate expansion of the market in the near future.
5 Key Projections on Future of Global Cross Country Ski Equipment Market
- Based on product type, race & performance classic skis will account for revenues nearly US$ 8 Mn by 2024-end. Race & performance classic skis are estimated to remain the most lucrative product in the market. In addition, sales of the metal edge touring skis are poised to exhibit the highest CAGR through 2024.
- Specialty stores will continue to be the largest distribution channels in the global cross country ski equipment market, and are expected to hold over one third market revenue share over the forecast period. Franchise stores are expected to be the second most lucrative distribution channel for the cross country ski equipment by 2024-end.
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- On the basis of price range, although premium cross country ski equipment will continue to be preferred among individuals, mid-range cross country ski equipment sales are projected to register the fastest expansion through 2024. Revenues from premium cross country ski equipment will account for more than 25% market share during 2017 to 2024.
- North America is projected to retain its dominance in the global market for cross country ski equipment, witnessing expansion at a CAGR of 4.6% through 2024. Approximately US$ 16 Mn revenues will be accounted by cross country ski equipment sales in North America by 2024-end.
- Europe will continue to be the second most lucrative market for cross country ski equipment over the forecast period. The market in Middle East and Africa (MEA) is estimated to register a sluggish expansion through 2024.
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