Ski gear and equipment refers to protective gear, outerwear, accessories that are used in skiing. It includes ski boots, helmets, bindings, ski poles, goggles, gloves, ski pants & jackets. Advancements in materials have enabled manufacturing of breathable, waterproof and durable ski products offering protection and enhancing performance.

The Ski Gear and Equipment Market is estimated to be valued at US$ 1,332.4 Mn in 2023 and is expected to exhibit a CAGR of 2.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growing popularity of skiing as recreational activity among all age-groups is a key growth driver. Countries like United States, Canada, Switzerland, Austria, France see a surge in number of participants for skiing. In the European alpine destinations alone, skier numbers grew by 3.7% in the 2018/19 winter season. Additionally, technological advancements have led to development of innovative ski equipment such as ergonomic ski boots with customizable fit and flex zones for comfort, durable ski poles with adjustable grip and tips, lightweight skis with better maneuverability and high-performance fabrics for gear. This has further accelerated the participation in skiing, driving the demand for quality ski gear and equipment.

Porter’s Analysis
Threat of new entrants: Low barriers to enter ski gear and equipment market such as low capital requirements and brand differentiating factors increase threat of new entrants. However, established brands have brand loyal customers and distribution channels limiting new entrants.
Bargaining power of buyers: Individual buyers have high bargaining power due to availability of many ski gear brands and price-sensitive nature of buyers. However, commercial buyers such as ski resorts have low bargaining power due to bulk purchase requirements.
Bargaining power of suppliers: Suppliers of raw materials such as plastics, fabrics have moderate bargaining power due to availability of substitutes. However, specialty suppliers of technical fabrics have higher bargaining power.
Threat of new substitutes: Threat of substitutes is low as skiing requires specialized gear and there are no close substitutes. However, other snow adventures are alternatives.
Competitive rivalry: Intense due to global presence of many established brands.

SWOT Analysis
Strength: Wide product portfolio and strong brand recognition of leading players. Technological innovation in fabrics and designs enhance performance.
Weakness: Seasonal nature of demand leads to uncertain revenues. High retailer bargaining power increases pressure on margins.
Opportunity: Growth in ski tourism and winter adventure sports in regions presents new markets. Partnerships with resorts for promotional deals can boost sales.
Threats: Trade barriers and regulations can impact sourcing and sales. Warming winters reduce scope of skiing in some regions.

Key Takeaways

The global ski gear and equipment market is expected to witness high growth, exhibiting CAGR of 2.9% over the forecast period, due to increasing popularity of winter sports. North America currently dominates the ski gear and equipment market owing to high participation in skiing and snowboarding in the region.

Regional analysis Asia Pacific is projected to grow at the fastest rate during the forecast period. Countries such as China and Japan are witnessing increasing tourism and winter sports activities which is driving the demand for ski gear and equipment in the region.

Key players operating in the ski gear and equipment market are Amer Sports Oyj, Black Diamond Equipment, Ltd., Coalition Snow, Fischer Beteilgungsverwaltungs GmbH, Helly Hansen, Icelantic LLC, Marker Volkl (International) Sales GmbH, Skis Rassignol S.A., The Burton Corporation, and Volcom LLC. The ski gear and equipment market is moderately fragmented with top players accounting for around 30-40% of overall market share.