Market Size of Europe Winter Sports Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Winter Sports Equipment Market Analysis
The European Winter Sports Equipment Market is estimated to witness a CAGR of 2.4% during the forecast period (2020 - 2025).
Various studies have depicted that during the pandemic, 89% of the ski companies recorded an activity loss of up to 50% due to the closure of ski lifts for the 2020-2021 winter sports season. More worrying, 11% registered more than 80% activity loss. Even in the countries where ski lifts were open, 67% of the companies have observed a strong decrease in the number of visitors. For instance, sporting equipment companies, including winter sports equipment, witnessed a step decline in their market shares during the initial months of the pandemic. However, the key player, the UVEX group, witnessed a decrease in net sales of 3% in this segment during 2020. As tourism recovers following the pandemic, the winter sports equipment market will likely expand again.
In Europe, winter sports are more than just exciting sports. It is a part of the culture and is also seen as a glamorous leisure industry that brings together healthy sporting activity, tourism, and hospitality. Winter tourism forms an important industry in the European Alps, and the growth of this sector is poised to act as a favorable factor, following strong participation from women. Apart from this, the fusion of gadgets in skiing and snowboarding with respect to a strong inclination toward technological innovation and implementation is expected to boost the market studied. The market is likely to have slow growth in terms of the 'looming impact of Brexit'. However, the growth is expected to be short-lived, as more mainstream sports enthusiasts are anticipated to fulfill the gap at a significant rate.
