About the Report
The global cross country skiing equipment market is projected to be valued at over US$ 1 Bn in 2021, expanding at a CAGR of close to 6% over the next ten years. Sales of cross country skiing equipment through specialty stores will be the maximum as compared to other sales channels. Beside regular skiing equipment, demand for race and performance classic skis is also rising, as well as demand for demand of metal-edge touring skis.
Cross country skiing is a style of skiing in which skiers move through snow-covered terrains using their own agility, skills, and maneuverability techniques, rather than ski lifts or other forms of assistance. Governments all over the world are focusing on boosting their travel and tourism industries in order to improve their economies. Over the forecast period, rising infrastructure, innovations in the travel and tourism industry, and high consumer spending are expected to propel demand for cross country skiing equipment.
Long working hours and high-intensity lifestyle have increased the market for adventure sports tourism in today's globalized world. Cross country skiing is quickly becoming one of the most common outdoor sporting activities. Furthermore, rising fitness culture among the youth is likely to encourage them to participate in target sports, which will benefit the equipment industry.
The ultimate goal of this latest revised report by Fact.MR on cross country skiing equipment is to gain the insights into the market and its current state, demand, and technological advancements on the basis of market segmentation. The report includes a taxonomy that deals with the main segments. Key success factors as well as visionary insights into market dynamics, such as the drivers, constraints, opportunities, trends, and pricing analysis, are included in the report.
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Historical Trends Vs Future Market Projections
During the historic years 2016-2020, the global market for cross country skiing equipment experienced sluggish growth at a CAGR of 0.6%. Growing social media influence and developing entrepreneurship in the tourism sector across various regions have increased the market inflammation rate. Soaring social media has made people more aware about numerous tourism spots, which is aiding the growth of the global tourism market.
Due to these factors, demand can be calculated over the long-term forecast period by dividing the forecast timeline into three sections.
- Short-run: Over the next few years, recovery growth is anticipated.
- Medium-run: During this time, demand and price normalisation are expected to occur.
- Long-run: Economic cycles and inflation rates have an effect on commodity demand and pricing.
Demand for cross country skiing equipment is poised to expand at steady rate over the forecast period at a CAGR close to 6%. This is creating a positive environment for industry participants with focus on the inclusion of health safety features in cross country skiing equipment.
How Will Government Recognition and Regulations Impact Revenue Generation for Cross Country Skiing Equipment Manufacturers?
Increased investments in sport as well as availability of travel allowances for people across different organizations are supplementing business growth. This will aid in the construction of a strong infrastructure, which will draw more tourists to this sport. Northern hemispherical regions such as Europe and North America have the geographical advantage of having good spots for cross country skiing. Moreover, increased expenditure by governments as well as high living standards of the population have led to higher spending on amusement activities. However, since the sport can be dangerous, stringent safety regulations are serving as a restriction on market development. In contrast to downhill skiing, cross country skiers are more likely to suffer from torn thumb ligaments, broken limbs, and dislocated shoulders, all of which can be dangerous if not treated promptly.
Furthermore, high cost of cross-country skiing equipment is likely to constrain market growth in terms of attracting a broad consumer base. Low cost of other adventurous activities or high-intensity physical activities is putting a lot of pressure on this industry.
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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.
Which Region has Most Potential for Sales of Cross Country Ski Equipment?
Europe, especially Liechtenstein, experiences the largest demand for cross country skiing equipment due to a chain of mountains surrounding the country. Europe accounts for 53.4 percent demand of the cross-country skiing industry. The Alps, which stretches from France to Slovenia, provides a wide area for skiing and hosts huge amount of tourists every year.
Following Europe is North America, which is expected to create an absolute dollar opportunity of US$ 250 Mn during the forecast period. North America’s market is poised to grasp a value of US$ 220 Mn in 2021. In North America, the U.S. accounts for a majority share owing to the fact that it has the largest snowfall-receiving region known as Mount Baker, which experiences 16.5 m average snowfall annually.
Contrastingly, the Middle East and Africa accounts for the lowest market share, and is anticipates to have a market value of US$ 8.5 Mn in 2021. The reason for this lowest market share is climatic variations in the region.
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Why is the Alps Such a Large Market for Cross Country Skiing Equipment?
The Alps, in Europe, is the foremost contributor to the growth of the market for cross country skiing equipment, and is anticipated to be valued at US$ 570 Mn in 2021, which is the highest as compared to any other region. Though Europe is expected to lose 753 BPS during the forecast period, this market will offer high absolute dollar opportunity over the next ten years.
Approximately 37% of the world’s ski resorts are located in the Alps. Around half of the world’s skiers visit Europe, giving this market a global share of around 44%.
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.
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.
Will Franchised Stores Witness High Sales of Cross Country Skiing Equipment?
Speciality store account for the largest market revenue under the sales channel segment, holding 35.3% market share, and this segment is expected to expand at a CAGR of close to 6% through the decade.
People prefer specialty stores because of the range of items offered under one roof, which saves them time and provides a deeper understanding of the product.
How Has COVID-19 Impacted Demand and Sales of Cross Country Skiing Equipment?
COVID-19 has had catastrophic consequences for many industries across the globe, and cross country equipment sales were also affected. Similarly, the manufacturing sector shrank, with a gap in demand and supply that hampered business expansion. The effect is expected to be felt for a short period, and demand is likely to go northwards aftermath lockdowns ease.
What is the Pricing Equilibrium for Cross Country Skiing Equipment?
Due to the use of advanced hardware, cross country skiing equipment is considered to be costly, which is likely to be a major market restriction. Manufacturers, on the other hand, have come up with the concept of providing a rental service, which is more cost-effective for consumers.
Europe and North America are the two most important regions in the industry right now, and both are contributing significantly to market growth. Cost of cross country skiing equipment varies depending on the type of equipment, and also its application and use.
In addition to the factors mentioned above, international trade tariffs and trade war between powerful economies have played a significant role in determining global average prices. As a result, over the next few years, prices are projected to rise at a nominal rate.
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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.
Historical Data Available for
US$ Mn for Value
Key Regions Covered
Key Segments Covered
Key Companies Profiled
Key Market Segments Covered
- 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
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
- 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
- North America
- Latin America
- East Asia
- South Asia & Oceania
Cross Country Skiing Equipment Market- Scope of Report
A recent study by Fact.MR on the cross country skiing equipment market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of cross country skiing equipment.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing cross country skiing equipment, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of cross country skiing equipment across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of cross country skiing equipment during the forecast period. Price point comparison by region with global average price is also considered in the study.
Analysis on Market Size Evaluation
The market has been analyzed for each market segment in terms of value (US$ Mn).
Market estimates at global and regional levels for cross country skiing equipment are available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global cross country skiing equipment market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.
Country-specific valuation on demand for cross country skiing equipment has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of cross country skiing equipment, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of cross country skiing equipment has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the cross country skiing equipment market.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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