Market Insights Consumer Toys & Hobby Sports Equipment

Winter Sports Equipment - Montenegro

Montenegro

in Montenegro, a country known for its beautiful mountainous landscapes and winter sports destinations, is not exempt from the global Winter Sports Equipment market.
In 2024, the revenue in this market in Montenegro amounts to US$1m.
Looking ahead, the market is projected to experience an annual growth rate of 3.13% from 2024 to 2029, as per the Compound Annual Growth Rate (CAGR) for that period.
When compared to other countries around Worldwide, it is worth noting that in the United States generates the highest revenue in the Winter Sports Equipment market.
In 2024 alone, in the United States is expected to generate a staggering US$3,001m in revenue.
To put things into perspective, when considering the total population of Montenegro, the per person revenue generated in the Winter Sports Equipment market amounts to US$0.86 in 2024.
This figure is indicative of the market's potential and the impact it has on the country's economy.
The demand for winter sports equipment in Montenegro is steadily growing, fueled by the country's increasing popularity as a ski destination.

Key regions: Europe, China, Indonesia, Germany, Worldwide

Market

Region

Region comparison

Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on goods people buy for their leisure activities and hobbies.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use in-house market research, national statistical offices, international institutions, trade associations, third-party studies, and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and household number. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for forecasting the Toys & Hobby market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.