Surge in aspiring snowboard athletes is projected to rev up demand for snowboard equipment in the sports industry. In addition, increasing in demand for technically enhanced sport equipment is projected to impact growth of the global snowboard equipment market positively. A recently published report by Fact.MR reveals that the global market of snowboard equipment is projected to reflect a robust CAGR over the projected, 2017 – 2024.
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Factors Propelling Global Market Growth
Increasing participation in winter sports such as skiing and snowboarding is projected to boost demand for snowboard equipment globally. Moreover, surge in number of aspiring athletes is projected to fuel demand for snowboard equipment positively. Sport manufacturers are increasingly witnessing demand for technically enhanced sport equipment among snowboard athletes. Bound to such factors, the global market of snowboard equipment is projected to witness surge in growth during the projected period. A research recently conducted by the National Institute on Aging shows that workout and exercise is a significant factor expected to impact the cognitive health positively.
Moreover, manufacturers are increasingly integrating snowboard equipment with enhanced features such as heated snow boot liners and tracker watches. Surge in demand for technically enhanced snowboard equipment is projected to rev up growth of the global snowboard equipment market significantly during the projected period.
On the other hand, various factors are projected to inhibit growth of the global snowboard equipment market. Increasing climatic changes has led to inadequate snowing, which has led to a significant decline in winter sport participation.
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Split Board to Represent a Leading Segment
Specialty stores among other distribution channels is projected to witness a relatively high revenue growth in the snowboard equipment market globally. This segment is projected to represent more than US$ 20 Mn in the global market of snowboard equipment by 2017 – end. Online stores among other distribution channels is projected to represent significant revenue growth after specialty stores globally in 2017. Snowboard equipment products are projected to witness significant surge in North America. Specialty stores among other distribution channels is projected to reflect a relatively high CAGR in the global market of snowboard equipment market through 2024. Direct sales among other channels is projected to reflect the second highest CAGR in the global market of snowboard equipment throughout 2024.
Split board among other products is projected to witness a relatively high revenue growth in the global market of snowboard equipment. This segment is projected to represent more than US$ 10 Mn in the snowboard equipment market globally by 2024 – end. Snowboard binding is projected to witness a significant growth in terms of revenue, after split board through 2024. North America among other regions is projected to remain a major market for snowboard equipment globally. Men’s snowboard boots among other equipment is projected to reflect a relatively high CAGR in the global market of snowboard equipment throughout 2024. Kid’s snowboard boots and split board is projected to reflect a parallel CAGR in the global market of snowboard equipment through 2024.
Economic among other prices is projected to witness a relatively high revenue growth, followed by premium range in the global market of snowboard equipment. Mid-price is projected to reflect a relatively high CAGR throughout 2024.
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