Alpine Ski Equipment: Introduction
- Alpine skiing or downhill skiing is a sports activity of sliding down on a snow covered slope with the help of skis. Pole, ski binding, boots, and helmet are some of the equipment used in this activity.
Key Drivers of the Global Alpine Ski Equipment Market
- Large number of millennial participate in different outdoor sports activities including winter sports and alpine skiing to maintain physical and mental health. This is significantly leading to market growth.
- Growing number of participants in winter sports at the global as well as regional level is expected to boost the market. The number of female participants has grown in the last few years in different countries. Keeping this trend in mind, companies are launching several winter sports gear and ski equipment for female participants.
- Increasing consumer awareness about the need for safety equipment in alpine skiing is driving users to purchase winter sports equipment. Rising number of fatal incidents during sports activities coupled with encouragement by event managers to use the necessary safety equipment is likely to enhance product demand in the coming years.
Government Initiatives in Developing Countries
- Governments of developing countries across the world including India, China, South Africa, Mexico, and Brazil are investing in winter sports activities to make the population aware about the benefits of skiing and other snow sports. These activities are expected to create a market opportunity in the near future. Australia based government organization, Ski & Snowboard Australia (SSA) introduced a program to teach children about the basics of alpine skiing. The program is known as Little Shredders.
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Geographical Limitation as a Market Restraint
- The location of some countries is unsuitable for winter sports. Limitation in terms of geographical resources in different locations is also likely to be a market restraint in the coming years.
Europe to Hold Major Share of the Global Alpine Ski Equipment Market
- Over the past years, Europe is a major ski destination of the world. Europe has major ski resorts dotted across the Pyrenees and Alps which are extremely popular.
- Popularity of alpine skiing is growing across North America. The U.S. had the most per person skier visits in 2018.
- Major countries organizing alpine skiing events are Austria, Switzerland, Japan, Germany, the U.S., and Canada. These events drive the demand for alpine ski equipment in these countries.
- Asia Pacific is expected to be the fastest growing region in the market as a result of increasing awareness about winter sports events. China is set to host the 2024 Winter Olympics which is projected to create a new avenue for the Asia Pacific alpine ski equipment market.
Key Players Operating in the Global Market
The global alpine ski equipment market is moderately fragmented with numerous small and large players present in the market. Companies adopt several strategies including product innovation & development, geographical expansion, and merger and acquisition to increase their market revenue. A few of the key players operating in the global alpine ski equipment market are listed below:
- Amer Sports
- Clarus Corporation (CLAR)
- Fischer Sports
- Skis Rossignol
- Newell Brands
- Tecnica Group
- Swix Sport
- K2 Sports