全球冬季运动器材市场，市场规模研究与预测：按运动项目、器材类别、最终用户、分销管道和地区分類的预测（2025-2035 年）

全球冬季运动器材市场预计到 2024 年将达到 177.8 亿美元，从 2025 年到 2035 年的复合年增长率为 5.87%。

冬季运动装备，包括滑雪板、单板滑雪板、防护装备和高性能服装，是所有冬季运动活动（从休閒到竞技比赛）的核心。随着冬季旅游业的蓬勃发展，尤其是在高海拔度假胜地，以及各个年龄层消费者参与度的不断提高，市场也在不断发展，先进的材料技术、更高的安全性以及更个人化的产品选择层出不穷。滑雪度假村的扩张、政府对冰上运动基础设施的投资以及冬季探险运动在社群媒体上的日益普及，都在刺激着全球需求。此外，越来越多的品牌正在利用永续性理念进行创新，例如使用再生复合复合材料和环保材料，这些创新正在重新定义消费者的期望，并进一步增强市场动力。

全球体育活动的日益普及，以及冬季运动从小众休閒活动发展成为主流生活方式的趋势，正在成熟市场和新兴市场掀起新一轮需求浪潮。滑雪、单板滑雪、花式溜冰和冰球的参与率飙升，带动了高端装备类别的销售成长。同时，线上零售生态系统的扩张使品牌能够触及新的客户群，同时提升产品知名度和价格竞争力。儘管前景光明，但冬季运动的季节性、气候变迁导致的雪况多变以及装备成本高等限制因素依然存在。然而，持续的产品创新、数位化尺寸和客製化工具的引入以及室内雪地公园的兴起，为长期可持续成长奠定了坚实的基础。

目录

第一章 全球冬季运动器材市场：研究范围与调查方法

• 调查目的
• 调查方法
  • 预测模型
  • 桌上研究
  • 自上而下和自下而上的方法
• 调查属性
• 调查范围
  • 市场定义
  • 市场区隔
• 调查先决条件
  • 包含项和排除项
  • 限制
  • 调查年度

第二章执行摘要

• CEO/CXO视角
• 战略洞察
• ESG分析
• 主要发现

第三章：全球冬季运动器材市场因素分析

• 影响全球冬季运动器材市场（2024-2035 年）的因素
• 司机
  • 品牌如何拥抱永续性创新
  • 再生复合复合材料与环保材料的兴起
• 抑制因素
  • 价格分布设备
• 机会
  • 持续的产品创新

第四章：全球冬季运动用品产业分析

• 波特五力模型
  • 买方的议价能力
  • 供应商的议价能力
  • 新进入者的威胁
  • 替代品的威胁
  • 竞争对手之间的竞争
• 波特五力预测模型（2024-2035）
• PESTEL 分析
  • 政治
  • 经济
  • 社会
  • 科技
  • 环境
  • 法律
• 重大投资机会
• 关键成功策略（2025）
• 市占率分析（2024-2025）
• 全球价格分析与趋势（2025）
• 分析师建议与结论

第五章：全球冬季运动器材市场规模及预测：依运动项目划分，2025-2035年

• 市场概览
• 全球冬季运动器材市场表现与潜力分析（2025 年）
• 滑雪
• 单板滑雪
• 冰上曲棍球
• 花式溜冰
• 其他的

第六章：2025-2035年全球冬季运动器材市场规模及依器材类别分類的预测

• 市场概览
• 全球冬季运动器材市场表现与潜力分析（2025 年）
• 滑雪和单板滑雪
• 启动绑定
• 防护装备和头盔
• 服饰及配件
• 其他的

第七章：2025-2035年全球冬季运动器材市场规模及最终用户预测

• 市场概览
• 全球冬季运动器材市场表现与潜力分析（2025 年）
• 成人
• 孩子

第八章：2025-2035年全球冬季运动用品市场规模及通路预测

• 市场概览
• 全球冬季运动器材市场表现与潜力分析（2025 年）
• 线下零售
• 线上零售

第九章：2025-2035年全球冬季运动器材市场规模及区域预测

• 按成长区域分類的市场概览
• 主要国家和新兴国家
• 北美洲
  • 美国
  • 加拿大
• 欧洲
  • 英国
  • 德国
  • 法国
  • 西班牙
  • 义大利
  • 其他欧洲地区
• 亚太地区
  • 中国
  • 印度
  • 日本
  • 澳洲
  • 韩国
  • 亚太其他地区
• 拉丁美洲
  • 巴西
  • 墨西哥
• 中东和非洲
  • 阿拉伯聯合大公国
  • 沙乌地阿拉伯（KSA）
  • 南非

第十章 竞争讯息

• 主要市场的策略
• Rossignol Group
  • 公司简介
  • 主要高阶主管
  • 公司简介
  • 财务绩效（视数据可用性而定）
  • 产品和服务组合
  • 最新进展
  • 市场策略
  • SWOT分析
• K2 Sports
• Atomic
• Burton Snowboards
• Fischer Sports
• Decathlon
• Bauer Hockey
• Head Sports
• Salomon Group
• Under Armour
• Columbia Sportswear
• The North Face
• Oakley
• Black Diamond Equipment
• Mizuno Corporation

The Global Winter Sports Equipment Market, valued at USD 17.78 billion in 2024, is projected to grow at a CAGR of 5.87% throughout 2025-2035. Winter sports equipment-spanning skis, snowboards, protective gear, and specialized performance apparel-plays a central role in enabling both recreational and competitive winter sporting activities. As winter tourism accelerates, particularly in high-altitude destinations, and consumer participation widens across demographics, the market continues to evolve with advanced material technologies, enhanced safety engineering, and increasingly personalized product offerings. The expansion of ski resorts, government investments in ice sports infrastructure, and the rising popularity of winter adventure sports across social media ecosystems have collectively intensified global demand. Furthermore, brands are leveraging sustainability-aligned innovations, such as recycled composites and eco-friendly fabrics, reshaping consumer expectations and amplifying market momentum.

Growing global interest in athletic pursuits, coupled with the evolution of winter sports from niche recreational activities into mainstream lifestyle experiences, has propelled new demand waves across mature and emerging markets. Participation rates across skiing, snowboarding, figure skating, and ice hockey have surged, driving sales across premium equipment categories. Meanwhile, the expansion of online retail ecosystems has enabled brands to unlock new customer segments while offering wider product visibility and competitive pricing. Despite this promising landscape, constraints such as the seasonal nature of winter sports, fluctuating snow conditions due to climate variability, and high equipment prices continue to impose limitations. Nevertheless, continual product innovation, the adoption of digital sizing and customization tools, and the emergence of indoor snow parks provide robust foundations for sustained long-term growth.

The detailed segments and sub-segments included in the report are:

By Sports Type:

• Skiing
• Snowboarding
• Ice Hockey
• Figure Skating
• Other Sports Type

By Equipment Category:

• Skis and Snowboards
• Boots and Bindings
• Protective Gear and Helmets
• Apparel and Accessories
• Other Equipment Category

By End User:

• Adult
• Kids

By Distribution Channel:

• Offline Retail Stores
• Online Retail Stores

Skiing is expected to dominate the market, consistently capturing the largest share due to its strong global participation rates and deep-rooted cultural presence in winter tourism destinations. Skiing's widespread appeal among both recreational travelers and professional athletes drives sustained demand for skis, poles, boots, and safety gear. Moreover, ski resorts worldwide have been expanding their service offerings and upgrading infrastructure to attract year-round visitors, further boosting skiing-related equipment sales. While skiing holds the lion's share today, snowboarding is emerging as a fast-growing category driven by youth engagement, rising adoption in competitive events, and the growing influence of freestyle winter sports cultures.

In terms of revenue contribution, the apparel and accessories category currently stands as the leading segment. This dominance stems from recurring consumer demand, rapid fashion-cycle influences, and the increasing importance of thermal comfort, performance layering, and high-durability fabrics in winter sports environments. Apparel brands have increasingly incorporated advanced materials, such as moisture-wicking membranes and insulated lightweight composites, to cater to evolving athlete expectations. Meanwhile, protective gear and helmets are emerging as the fastest-growing category owing to heightened safety awareness, regulatory mandates, and a surge in first-time participants seeking enhanced protection in high-speed or technically demanding winter activities.

Across regional markets, Europe maintained its position as the global leader, supported by its extensive winter sports heritage, dense concentration of alpine resorts, and strong consumer expenditure on recreational activities. North America follows closely, driven by technological advancements in gear manufacturing, high participation in skiing and snowboarding, and a robust infrastructure of ski parks and competitive leagues. Asia Pacific, however, is poised to be the fastest-growing regional market during the forecast period. Rising disposable incomes, government-led investments in ice sports arenas, and increasing enthusiasm for winter sports-particularly in China, Japan, and South Korea-are pushing the region toward rapid expansion. Latin America and the Middle East & Africa, while smaller markets, are demonstrating potential through emerging winter tourism initiatives and rising acceptance of year-round indoor snow facilities.

Major market players included in this report are:

• Rossignol Group
• K2 Sports
• Atomic
• Burton Snowboards
• Fischer Sports
• Decathlon
• Bauer Hockey
• Head Sports
• Salomon Group
• Under Armour
• Columbia Sportswear
• The North Face
• Oakley
• Black Diamond Equipment
• Mizuno Corporation

Global Winter Sports Equipment Market Report Scope:

• Historical Data - 2023, 2024
• Base Year for Estimation - 2024
• Forecast Period - 2025-2035
• Report Coverage - Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
• Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
• Customization Scope - Free report customization (equivalent to up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments and countries across recent years and forecast their values for the coming decade. This report integrates both qualitative and quantitative insights across regions, providing a detailed understanding of market drivers, constraints, and emerging opportunities. Additionally, it highlights potential micro-market investment pockets and offers a comprehensive analysis of the competitive landscape, supported by product portfolio assessments of key industry participants.

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of the geographical landscape with country-level insights across major regions.
• Competitive landscape with strategic information on key players.
• Recommendations on business strategies and future market approaches.
• Structural analysis of demand-side and supply-side dynamics.

Table of Contents

Chapter 1. Global Winter Sports Equipment Market Report Scope & Methodology

• 1.1. Research Objective
• 1.2. Research Methodology
  • 1.2.1. Forecast Model
  • 1.2.2. Desk Research
  • 1.2.3. Top Down and Bottom-Up Approach
• 1.3. Research Attributes
• 1.4. Scope of the Study
  • 1.4.1. Market Definition
  • 1.4.2. Market Segmentation
• 1.5. Research Assumption
  • 1.5.1. Inclusion & Exclusion
  • 1.5.2. Limitations
  • 1.5.3. Years Considered for the Study

Chapter 2. Executive Summary

• 2.1. CEO/CXO Standpoint
• 2.2. Strategic Insights
• 2.3. ESG Analysis
• 2.4. key Findings

Chapter 3. Global Winter Sports Equipment Market Forces Analysis

• 3.1. Market Forces Shaping The Global Winter Sports Equipment Market (2024-2035)
• 3.2. Drivers
  • 3.2.1. brands are leveraging sustainability-aligned innovations
  • 3.2.2. Increasing recycled composites and eco-friendly fabrics
• 3.3. Restraints
  • 3.3.1. high equipment prices
• 3.4. Opportunities
  • 3.4.1. continual product innovation

Chapter 4. Global Winter Sports Equipment Industry Analysis

• 4.1. Porter's 5 Forces Model
  • 4.1.1. Bargaining Power of Buyer
  • 4.1.2. Bargaining Power of Supplier
  • 4.1.3. Threat of New Entrants
  • 4.1.4. Threat of Substitutes
  • 4.1.5. Competitive Rivalry
• 4.2. Porter's 5 Force Forecast Model (2024-2035)
• 4.3. PESTEL Analysis
  • 4.3.1. Political
  • 4.3.2. Economical
  • 4.3.3. Social
  • 4.3.4. Technological
  • 4.3.5. Environmental
  • 4.3.6. Legal
• 4.4. Top Investment Opportunities
• 4.5. Top Winning Strategies (2025)
• 4.6. Market Share Analysis (2024-2025)
• 4.7. Global Pricing Analysis And Trends 2025
• 4.8. Analyst Recommendation & Conclusion

Chapter 5. Global Winter Sports Equipment Market Size & Forecasts by Sports Type 2025-2035

• 5.1. Market Overview
• 5.2. Global Winter Sports Equipment Market Performance - Potential Analysis (2025)
• 5.3. Skiing
  • 5.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 5.3.2. Market size analysis, by region, 2025-2035
• 5.4. Snowboarding
  • 5.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 5.4.2. Market size analysis, by region, 2025-2035
• 5.5. Ice Hockey
  • 5.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 5.5.2. Market size analysis, by region, 2025-2035
• 5.6. Figure Skating
  • 5.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 5.6.2. Market size analysis, by region, 2025-2035
• 5.7. Other Sports Type
  • 5.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 5.7.2. Market size analysis, by region, 2025-2035

Chapter 6. Global Winter Sports Equipment Market Size & Forecasts by Equipment Category 2025-2035

• 6.1. Market Overview
• 6.2. Global Winter Sports Equipment Market Performance - Potential Analysis (2025)
• 6.3. Skis and Snowboards
  • 6.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 6.3.2. Market size analysis, by region, 2025-2035
• 6.4. Boots and Bindings
  • 6.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 6.4.2. Market size analysis, by region, 2025-2035
• 6.5. Protective Gear and Helmets
  • 6.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 6.5.2. Market size analysis, by region, 2025-2035
• 6.6. Apparel and Accessories
  • 6.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 6.6.2. Market size analysis, by region, 2025-2035
• 6.7. Other Equipment Category
  • 6.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 6.7.2. Market size analysis, by region, 2025-2035

Chapter 7. Global Winter Sports Equipment Market Size & Forecasts by End User 2025-2035

• 7.1. Market Overview
• 7.2. Global Winter Sports Equipment Market Performance - Potential Analysis (2025)
• 7.3. Adult
  • 7.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 7.3.2. Market size analysis, by region, 2025-2035
• 7.4. Kids
  • 7.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 7.4.2. Market size analysis, by region, 2025-2035

Chapter 8. Global Winter Sports Equipment Market Size & Forecasts by Distribution Channel 2025-2035

• 8.1. Market Overview
• 8.2. Global Winter Sports Equipment Market Performance - Potential Analysis (2025)
• 8.3. Offline Retail Stores
  • 8.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 8.3.2. Market size analysis, by region, 2025-2035
• 8.4. Online Retail Stores
  • 8.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 8.4.2. Market size analysis, by region, 2025-2035

Chapter 9. Global Winter Sports Equipment Market Size & Forecasts by Region 2025-2035

• 9.1. Growth Winter Sports Equipment Market, Regional Market Snapshot
• 9.2. Top Leading & Emerging Countries
• 9.3. North America Winter Sports Equipment Market
  • 9.3.1. U.S. Winter Sports Equipment Market
    • 9.3.1.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.3.1.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.3.1.3. End User breakdown size & forecasts, 2025-2035
    • 9.3.1.4. Distribution Channel breakdown size & forecasts, 2025-2035
  • 9.3.2. Canada Winter Sports Equipment Market
    • 9.3.2.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.3.2.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.3.2.3. End User breakdown size & forecasts, 2025-2035
    • 9.3.2.4. Distribution Channel breakdown size & forecasts, 2025-2035
• 9.4. Europe Winter Sports Equipment Market
  • 9.4.1. UK Winter Sports Equipment Market
    • 9.4.1.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.4.1.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.4.1.3. End User breakdown size & forecasts, 2025-2035
    • 9.4.1.4. Distribution Channel breakdown size & forecasts, 2025-2035
  • 9.4.2. Germany Winter Sports Equipment Market
    • 9.4.2.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.4.2.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.4.2.3. End User breakdown size & forecasts, 2025-2035
    • 9.4.2.4. Distribution Channel breakdown size & forecasts, 2025-2035
  • 9.4.3. France Winter Sports Equipment Market
    • 9.4.3.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.4.3.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.4.3.3. End User breakdown size & forecasts, 2025-2035
    • 9.4.3.4. Distribution Channel breakdown size & forecasts, 2025-2035
  • 9.4.4. Spain Winter Sports Equipment Market
    • 9.4.4.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.4.4.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.4.4.3. End User breakdown size & forecasts, 2025-2035
    • 9.4.4.4. Distribution Channel breakdown size & forecasts, 2025-2035
  • 9.4.5. Italy Winter Sports Equipment Market
    • 9.4.5.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.4.5.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.4.5.3. End User breakdown size & forecasts, 2025-2035
    • 9.4.5.4. Distribution Channel breakdown size & forecasts, 2025-2035
  • 9.4.6. Rest of Europe Winter Sports Equipment Market
    • 9.4.6.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.4.6.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.4.6.3. End User breakdown size & forecasts, 2025-2035
    • 9.4.6.4. Distribution Channel breakdown size & forecasts, 2025-2035
• 9.5. Asia Pacific Winter Sports Equipment Market
  • 9.5.1. China Winter Sports Equipment Market
    • 9.5.1.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.5.1.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.5.1.3. End User breakdown size & forecasts, 2025-2035
    • 9.5.1.4. Distribution Channel breakdown size & forecasts, 2025-2035
  • 9.5.2. India Winter Sports Equipment Market
    • 9.5.2.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.5.2.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.5.2.3. End User breakdown size & forecasts, 2025-2035
    • 9.5.2.4. Distribution Channel breakdown size & forecasts, 2025-2035
  • 9.5.3. Japan Winter Sports Equipment Market
    • 9.5.3.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.5.3.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.5.3.3. End User breakdown size & forecasts, 2025-2035
    • 9.5.3.4. Distribution Channel breakdown size & forecasts, 2025-2035
  • 9.5.4. Australia Winter Sports Equipment Market
    • 9.5.4.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.5.4.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.5.4.3. End User breakdown size & forecasts, 2025-2035
    • 9.5.4.4. Distribution Channel breakdown size & forecasts, 2025-2035
  • 9.5.5. South Korea Winter Sports Equipment Market
    • 9.5.5.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.5.5.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.5.5.3. End User breakdown size & forecasts, 2025-2035
    • 9.5.5.4. Distribution Channel breakdown size & forecasts, 2025-2035
  • 9.5.6. Rest of APAC Winter Sports Equipment Market
    • 9.5.6.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.5.6.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.5.6.3. End User breakdown size & forecasts, 2025-2035
    • 9.5.6.4. Distribution Channel breakdown size & forecasts, 2025-2035
• 9.6. Latin America Winter Sports Equipment Market
  • 9.6.1. Brazil Winter Sports Equipment Market
    • 9.6.1.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.6.1.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.6.1.3. End User breakdown size & forecasts, 2025-2035
    • 9.6.1.4. Distribution Channel breakdown size & forecasts, 2025-2035
  • 9.6.2. Mexico Winter Sports Equipment Market
    • 9.6.2.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.6.2.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.6.2.3. End User breakdown size & forecasts, 2025-2035
    • 9.6.2.4. Distribution Channel breakdown size & forecasts, 2025-2035
• 9.7. Middle East and Africa Winter Sports Equipment Market
  • 9.7.1. UAE Winter Sports Equipment Market
    • 9.7.1.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.7.1.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.7.1.3. End User breakdown size & forecasts, 2025-2035
    • 9.7.1.4. Distribution Channel breakdown size & forecasts, 2025-2035
  • 9.7.2. Saudi Arabia (KSA) Winter Sports Equipment Market
    • 9.7.2.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.7.2.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.7.2.3. End User breakdown size & forecasts, 2025-2035
    • 9.7.2.4. Distribution Channel breakdown size & forecasts, 2025-2035
  • 9.7.3. South Africa Winter Sports Equipment Market
    • 9.7.3.1. Sports Type breakdown size & forecasts, 2025-2035
    • 9.7.3.2. Equipment Category breakdown size & forecasts, 2025-2035
    • 9.7.3.3. End User breakdown size & forecasts, 2025-2035
    • 9.7.3.4. Distribution Channel breakdown size & forecasts, 2025-2035

Chapter 10. Competitive Intelligence

• 10.1. Top Market Strategies
• 10.2. Rossignol Group
  • 10.2.1. Company Overview
  • 10.2.2. Key Executives
  • 10.2.3. Company Snapshot
  • 10.2.4. Financial Performance (Subject to Data Availability)
  • 10.2.5. Product/Services Port
  • 10.2.6. Recent Development
  • 10.2.7. Market Strategies
  • 10.2.8. SWOT Analysis
• 10.3. K2 Sports
• 10.4. Atomic
• 10.5. Burton Snowboards
• 10.6. Fischer Sports
• 10.7. Decathlon
• 10.8. Bauer Hockey
• 10.9. Head Sports
• 10.10. Salomon Group
• 10.11. Under Armour
• 10.12. Columbia Sportswear
• 10.13. The North Face
• 10.14. Oakley
• 10.15. Black Diamond Equipment
• 10.16. Mizuno Corporation