Rockville, Jan. 24, 2024 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Snowboard Equipment Market is projected to progress at a 3.9% CAGR over the next decade to land at a value of US $455 Mn by the end of 2033.
Snowboard equipment is specially designed gear for the sport of snowboarding, consisting of a snowboard, bindings, boots, outerwear, and protective gear. What sets snowboard equipment apart from alternatives is its versatility, making it easier for beginners to learn and offering greater control and maneuverability on snow-covered slopes. The simplicity of having both feet attached to a single board contributes to a quicker learning curve. Snowboard equipment also excels in freestyle possibilities, allowing riders to perform tricks and maneuvers with ease.
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Key Segments of Snowboard Equipment Market Research Report
| By Product Type | By Sales Channel | By Price Range | By Region |
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The market is driven by the increasing popularity of snowboarding as a recreational and competitive sport, accompanied by a global increase in participation rates. Technological advancements, the globalization of snowboarding culture, and a growing focus on sustainability further contribute to the market's growth.
The snowboard equipment market faces the challenge of seasonal demand, with sales heavily dependent on winter weather conditions, limiting revenue streams during off-seasons. Furthermore, the market's growth is tied to the health of the tourism industry, as many snowboarding destinations rely on visitors.
Key Takeaways:
- Japan is widely recognized as a favored destination for snowboarding enthusiasts worldwide. The presence of abundant high-quality snow and well-established ski resorts in Kyushu, Tohoku, Hokkaido, and Yuzawa is expected to drive sales of snowboard equipment in Japan during the forecast period.
- In the United States, the increasing emphasis on both mental and physical well-being has led to a surge in engagement in outdoor recreational pursuits. This trend is anticipated to drive the demand for snowboarding equipment and apparel across the country.
- Split board sales are expected to hold approximately 25% of the total global market revenue share. The rising accessibility of split boards and the continual introduction of new split board models are anticipated to contribute to an increased demand for these products in the coming decade.
An increasing global participation in snowboarding, continuous technological innovations, and a rising demand for sustainable and eco-friendly products are three crucial elements fueling the market expansion - Says FACTMR Expert
Currently, the sales of winter sports equipment in North America hold a substantial portion of the global industry landscape, and this trend is expected to persist during the forecast period. The increased consumer expenditure on outdoor activities and the rising popularity of exhilarating sports play pivotal roles in driving the growth of the snowboard equipment market in the North American region in the upcoming years.
Market Competition
Prominent manufacturers are enhancing their business potential through the introduction of new services and solutions, aiming to augment their revenue-generating capabilities. Key players in this endeavor include Amer Sports Corporation, Academy Snowboard Co. Inc., Emsco Group Inc., Zion Snow Boards, Skis Rossignol SAS, and Newell Brands Inc.
- In December 2022, Burton, a snowboarding equipment provider based in Vermont, introduced an online rental initiative. This program enables riders to rent complete snowboarding kits and have them delivered to a destination of their choosing. Supported by "Arrive," a technology company specializing in rental and resale channels, the initiative aims to enhance the overall user experience.
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| Report Attribute | Details |
| Value Projection (2033) | USD 455 Million |
| Growth Rate (2023-2033) | 3.9% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 251 Tables |
| No. of Figures | 87 Figures |
Winning strategies
- Leading companies are smartly designing snowboard gear for specific terrains like backcountry, park, and powder. This caters to the different preferences and skills of riders. For example, backcountry gear is built for durability and stability, while park gear focuses on agility for tricks.
- A great strategy in this market is using virtual try-on features and augmented reality in online platforms. This lets customers see and customize their snowboard gear before buying. It's a great solution for online shoppers who can't physically try on products.
- Incorporating smart technologies into snowboard equipment, such as sensors for performance tracking, integrated heating elements, and smart bindings, provides companies with a competitive edge by offering advanced and innovative features.
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Alpine Ski Equipment Market: According to this study done by skilled analysts at Fact.MR, the global alpine ski equipment market is valued at US$ 1.83 billion in 2023 and is projected to reach US$ 2.46 billion by 2033. Worldwide sales of alpine ski equipment are forecasted to rise at a CAGR of 3% from 2023 to 2033.
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