Europe Winter Sports Equipment Market
Europe Winter Sports Equipment Market to Expand at a Steady CAGR of 3.6% During 2023–2029
Published | 12 January 2023
Europe winter sports equipment market is flourishing owing to a spurring demand for self-learning sports, overcrowding in snow resorts, increasing number of in ski destinations, and growing participation in winter sports activities across the region.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Europe winter sports equipment market size to grow at a CAGR of 3.6% during the forecast period between 2023 and 2029. The growth of winter tourism in many European countries as well as the rising popularity of outdoor activities are forecast to drive Europe winter sports equipment market during the period in analysis. Due to the rising popularity of several winter Olympic sports, such as figure skating, bobsledding, luge, and alpine snowboarding, the market for winter sporting goods is growing. The growing demand for high-end waterproof boots is projected to drive the growth in the winter sports equipment market. Various innovations in ski equipment are expected to temper the market growth for winter sports equipment.
Europe Winter Sports Equipment Market – Overview
The winter sports equipment market caters to winter sports, such as skiing, surfing, ice hockey, ice skating, and snowboarding. The increasing demand for winter sports equipment, snow skiing equipment, snowboard sports equipment, and snowboard bindings in Europe is creating significant growth opportunities for participants in winter sports equipment market in Europe. The In developing countries of Europe, winter sports footwear, clothing, and accessories are also in high demand. Companies are focusing on introducing innovative products, such as foldable skis, to increase their market share.
Opportunity: Safety concerns boosting sales growth of winter sports equipment
Winter sports, such as downhill skiing and sledding, can be dangerous. Downhill skiing was the sport with the most injuries, followed by snowboarding. Snowmobiling, sledding, and ice skating are also popular activities that result in a high number of injuries. Males were more likely than females to be hospitalized for winter sports injuries. The age group with the greatest number of visits was 11–20 years. Sprains, strains, dislocations, and fractures are all common winter sports injuries. As a result, people are becoming increasingly concerned about their safety while participating in winter sports activities. As a result, the demand for safety equipment, such as helmets, pads, and goggles, has increased. This, in turn, could drive the growth of Europe winter sports equipment market.
Challenge: Overcrowded snow resorts
Europe tourism market is expected to expand. With an increase in people's preference for cold places during vacation times, it appears that various resorts located in small regions will struggle to accommodate the population during the peak season. As a result, various factors, such as low infrastructure facilities, fewer sports equipment owned by property owners, and high costs of sports components, may be majorly responsible for impeding the growth of the winter sports market during the forecast period. To counteract market restraints, however, the most recent trends in ski equipment, e-cycling, and many other things could offer vendors of winter sports equipment a plethora of growth opportunities.
Impact of COVID-19 on Europe Winter Sports Equipment Market
The growth of the market for winter sporting goods slowed down due to the COVID-19 (coronavirus) outbreak, which began in China in the first half of 2020. For both finished goods and the raw materials needed to make various types of winter sporting goods, many manufacturers in the market relied on China. Consequently, it affected the Europe market for winter sports equipment.
Europe Winter Sports Equipment Market – By Distribution Channel
Europe winter sports equipment market by distribution channel is classified into Online, Offline, Supermarkets/Hypermarkets, Specialty Stores, Departmental Stores, Convenience Stores, and other segments. Most of the winter sports equipment was sold through offline distribution channels, which accounted for a significant share of revenue. The segment is expected to grow at the fastest rate during the forecast period. Offline distribution channels, which are part of traditional retail, are still the industry's main source of revenue. Offline distribution methods prioritize product variety, price-based promotions, and the shopping experience of the customer. As a result of the growing adoption of omnichannel retail strategies among offline distributors, a sizable number of retailers could shift their focus to online retail distribution strategies during the forecast period.
Europe winter sports equipment market is fiercely competitive. Prominent players include Amer Sports Corporation, BAUER Hockey LLC, Clarus Corporation, ELAN D.O.O., Fischer Sports GmbH, Head UK Ltd., Icelantic LLC, Rossignol Group, Sport Maska Inc., and Volkl Sports GmbH & Co. Kg. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Europe winter sports equipment market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Europe Winter Sports Equipment Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Europe Winter Sports Equipment Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
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