The Cross Country Skiing Equipment Market Is Expected To Grow 1.7X By 2031, At A CAGR Of Close To 6%.

Posted on 2022-11-03 by Fact.MR in Sports // 0 Comments

Europe holds a major chunk of the global cross country skiing equipment market share due to its geographical advantage and rising government investments in the tourism sector, followed by North America. Rising standards of middle-class households around the world as well as people’s preference for visiting adventurous locations for recreational activities and complementing market expansion. Soaring investments are being seen in research & development to acquaint consumers with advanced skiing equipment to prevent falls and facilitate easy gliding on soft snow.

According to the latest revised report by Fact.MR, the cross country skiing equipment market is estimated to be valued at over US$ 1 Bn in 2021, and is expected to grow 1.7X by 2031, at a CAGR of close to 6%.

Download Free Sample Copy of this Report:https://www.factmr.com/connectus/sample?flag=S&rep_id=226

Key Takeaways from Market Study

Race and performance classic skis account for the largest market share of 15.5%, and are expected to hold a market value of US$ 225 Mn by the end of 2031.
By end use, institutional level holds the highest value and is expected to reach US$ 794 Mn by the end of 2031.
Under the sales channel, specialty stores hold the 35.3% of the market share, and will offer an absolute dollar opportunity of US$ 282 Mn over the next ten years.
The market in Europe to lose 753.5 BPS over the forecast years, but grow 1.5X over 2021 to 2031.
The Alps, under country segment in Europe, to hold the highest market share of 37.9% in 2021, and is anticipated to expand at a CAGR of close to 6% over the forecast years.

Will There Be Any Impact of Social Economic Drivers on the Cross Country Skiing Equipment Industry?

Market expansion depends a lot on climatic behavior. Climatic conditions limit viability to a specific time frame. Due to climatic conditions, cross country skiing is known to follow a cyclic development pattern over the course of a year. Demand is likely to be on the higher side during the season, but during the off-season, due to lack of customers, equipment prices usually shoot up.

In addition, eminently distant paramount regions from the mass inhabitant areas impacts tourist frequency. Alaska and the Nordic areas, which are far from most of the populated areas, are some of the best places to go cross country skiing. Travel distance influences expenses, which is one of the main concerns of tourists.

What’s Driving Sales of Cross Country Skiing Equipment in the U.S.?

The U.S. market is expected to grow 2.2X over the forecast period at a CAGR of 8.5%, and offer an absolute dollar opportunity of US$ 223 Mn over the next ten years. Due to its high annual tourist visits, the United States is likely to rank second in terms of demand and supply for cross country skiing equipment. According to the United States Department of Tourism, nearly 79.6 million foreign tourists visited the country in 2018, supporting 15.7 million American jobs.

Manufacturers of cross country ski equipment are focusing on expanding their product portfolios in order to differentiate their existing range and launch new models with enhanced features.

Category-wise Insights

Why are Touring Skis the Most Sought-after Cross Country Skiing Equipment?

Growing number of tourists around the world, combined with people’s desire to experience skiing and their limited knowhow of the sport is pushing them to opt for touring skis. Resultantly, ski resorts have a well-established set-up as well as appropriate equipment for touring skis in comparison to others.

Get Customization on this Report for Specific Research Solutions:https://www.factmr.com/connectus/sample?flag=RC&rep_id=226

Competitive Landscape

To improve penetration across lucrative markets, these aforementioned players use a combination of organic and inorganic strategies. Brand launches, alliances and agreements with prominent cross country skiing equipment suppliers, acquisitions, and expansion of regional and global distribution networks are all part of these strategies.

Similarly, recent developments related to companies manufacturing cross country skiing equipment have been tracked by the team at Fact.MR, which is available in the full report.

Key Companies Profiled:

Amer Sports Corporation
Clarus Corporation
Fischer Sports GmbH
Skis Rossignol S.A.
Kneissl Tirol GmbH
Head N.V.
K2 Sports (Kohlberg and Company)
Tecnica Group S.p.A
Germina
Peltonen Ski Oy

Key Market Segments Covered

By Product

Touring Skis
Race and Performance Classic Skis
Metal-edge Touring Skis
Touring Boots
Race and Performance Classic Boots
Metal-edge Touring Boots
New Nordic Norms (NNN) Bindings
Salomon Nordic system (SNS) Bindings
Poles

By Price Range

Economy Cross Country Skiing Equipment
Mid-range Cross Country Skiing Equipment
Premium Cross Country Skiing Equipment
Super Premium Cross Country Skiing Equipment

By End-User

Cross Country Skiing Equipment for Individuals
Institutional Cross Country Skiing Equipment
Professional Cross Country Skiing Equipment
Cross Country Skiing Equipment for Beginners
Cross Country Skiing Equipment for Intermediates
Advanced Cross Country Skiing Equipment

By Sales Channel

Direct Sales of Cross Country Skiing Equipment
Cross Country Skiing Equipment Sold at Franchised Stores
Cross Country Skiing Equipment Sold at Specialty Stores
Online Sales of Cross Country Skiing Equipment

By Region

North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

Get Full Access of this Report through our PayPal Payment Optionhttps://www.factmr.com/checkout/226

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.