Cross Country Ski Equipment Market Analysis Showcases Growth Trends and Opportunity until 2022
Based on product type, race & performance classic skis will account for revenues nearly US$ 8 Mn by 2022-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 2022.
[USPRwire, Mon Jun 10 2019] A new study published by Fact.MR has estimated the global†Cross Country Ski Equipment Market to exhibit a steady expansion through the forecast period 2017 to 2022. The global market for cross country ski equipment is poised to account for over US$ 50 Mn revenues by 2022-end.
Cross country ski equipment involve ski boots, whose toes are fixed to bindings in a way to allow heels to rise off skis. Various types of skis are available for cross country skiing, including classic skis, skate skis, and back country skis. Boots. Bindings, and poles also form an integral part of the cross country ski equipment.
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Cross country skiing has morphed into an intoxicating sport owing to the technical and physical skills involved in the sport. Cross country skiing scales are relatively affordable and less crowded, which in turn is increasing the popularity of the sport. Being more of an aerobic sport, low-intensity cross country skiing is more-or-less similar to jogging, which implies several health benefits. On the back of the provision of physical activity, and enjoyment associated with cross country skiing, demand for the related equipment is witnessing a significant surge. A number of factors are considered while purchasing cross country ski equipment such as performance, and endorsement of a particular equipment by a professional skier or a celebrity. Cross country ski equipment have changed significantly since the time of three-pin bindings, bamboo poles, and knickers. Equipment available in the market currently are flashy, sleek, and geared to skiers of all sizes, shapes, and competitive bents. Although manufacturers of cross country ski equipment have incorporated new technology and lighter materials into their products, basic equipment requirement of skiers have not changed much since inception of the activity.
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 havenít changed much, from the time of the activityís 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.
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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 2022-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 2022.
- 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 2022-end.
- 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 2022. Revenues from premium cross country ski equipment will account for more than 25% market share during 2017 to 2022.
- 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 2022. Approximately US$ 16 Mn revenues will be accounted by cross country ski equipment sales in North America by 2022-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 2022.
Although premium cross country ski equipment are expected to remain sought-after among individuals, sales of mid-range cross country ski equipment will exhibit the highest CAGR in the market through 2022, based on price range. Over one-fourth share of the market will be accounted by premium cross country ski equipment through 2022.
Specialty stores will remain the most attractive distribution channel for cross country ski equipment across the globe, accounting for more than one-third revenue share of the market during 2017 to 2022. Franchise stores will continue to be the second largest distribution channel for cross country ski equipment.
Race and performance classic skis are expected to bring in nearly US$ 8 Mn revenues by 2022-end. This product type segment will remain the most lucrative during the forecast period. Sales of metal-edge touring skis are expected to register the fastest expansion in the market through 2022.
North America is estimated to remain dominant in the global cross country ski equipment market, expanding at 4.6% CAGR through 2022. Sales of cross country ski equipment in North America will reach nearly US$ 16 Mn in revenues by 2022-end.
Key players listed in Fact.MRís report include Amer Sports Corporation, Fischer Sports GmbH, Kneissl Tirol GmbH, Newell Brands Inc., Black Diamond, Inc., Skis Rossignol SAS, Head NV, and Nordica S.p.A.
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