Global Snowboard Equipment Market Expected to Garner USD 352.0 Million by the end of 2023
Global snowboard equipment market is expected to flourish at a significant CAGR over the forecast period. Moreover, the global snowboard equipment market is expected to garner USD 352.0 Million by the end of 2023. Factors such as increasing spending on sports and recreational activity coupled with increasing disposable income are expected to drive the growth of the global snowboard equipment market.
The global snowboard equipment market is segmented into product such as snowboards, snowboard bindings, snowboard boots, snowboard poles, other parts & accessories, snowboard apparels and safety products & gears. Among these segments, snowboards segment is expected to occupy the top position in global snowboard equipment market. Moreover, various initiatives by the snowboard organizations to increase the participation of people are anticipated to impel the growth of snowboards market. Further, technological advancement and enhancement in the design is anticipated to impel the growth of the global snowboard market.
Europe is slated to account for a leading share by 2024 in the Snowboard Equipment Market. The growth in the region can be attributed to high number of snowboarding areas in the region. France, Austria and Italy are the prominent market in the region. North America market is expected to expand at a significant CAGR during the forecast period i.e. 2017-2024. Increasing snowboard and skiing infrastructure and high number of snowboarders in the region are expected to positively impact the growth of the snowboard equipment market. U.S. and Canada is the major contributor to the growth of snowboard equipment market.
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Increasing Participation in Snowboarding
Increasing encouragement initiatives worldwide activities by World Snowboard Federation to increase the participation of people is anticipated to trigger the growth of the global snowboard equipment market. Furthermore, growth in the number of snowboarding events in the world has propelled the demand for snowboard equipment.
Technological developments and design enhancements in snowboards & equipment is the major factor which is likely to propel the demand for snowboards during the forecast period. Apart from this, increase in the number of youth snowboarding athletes is expected to upsurge the demand for snowboarding equipment market.
The report titled “Snowboard Equipment Market: Global Demand, Growth Analysis & Opportunity Outlook 2023” delivers detailed overview of the global Snowboard equipment market in terms of market segmentation by product, by price range, by demography, by distribution channel and by region.
However, high cost of snowboard equipment is expected to hamper the growth of the global snowboard equipment market.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global snowboard equipment market which includes company profiling of Ride Snowboard Co., Burton Snowboards, Mervin Manufacturing, Skis Rossignol SAS, HEAD Sales B.V., NIDECKER Group, Elan Sports, Inc., Icelantic Skis, Emsco Group, Salomon S.A.S. and Armada. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Global Snowboard equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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