Recent global recession had severely impacted the global snowmobile market as these vehicles are an expensive indulgence that can cost thousands of dollars limiting their appeal to affluent sections of society.
Fortunately, there has been a gradual recovery in the snowmobile market in the last decade and this is largely linked to the cautious economic optimism seen in developed countries.
This has allowed the youth to take part in recreational sports activities such as snowmobiling that is also increasingly seen as an activity in which the entire family can partake. However, it remains to be seen if the snowmobile market can increase its influence in emerging economies.
A snowmobile, also called a power sled or snow machine, is a vehicle designed to travel on ice or snow. A snowmobile can be easily operated on either surface and does not need a proper trail or road. Snowmobiling was initially a sport that has become a full-fledged sport that people are extremely passionate about.
The Fact.MR report projects that the global snowmobiles market will record a sluggish CAGR and grow to a value of over US$ 1.6 billion in 2022.
Entry-Level & Mountain Snowmobiles Gain Popularity
The entry-level and mountain snowmobile segment account for more than 2/5th of the snowmobile market by product type.
The entry-level snowmobile segment is anticipated to be worth more than US$ 430 million by the end of the forecast period, making it imperative for key stakeholders in the snowmobile market to target this segment.
For companies that specialize in mountain snowmobiles, North America represents the single largest region as it represents more than a third of the snowmobile market and is likely to remain so.
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Maximum Sales Potential for 1-, 2-Seater Snowmobiles
Companies actively involved in the snowmobile market may want to focus on 1 and 2 seaters as they have the maximum potential. The 1 seater snowmobile market in North America alone is approx.
US$ 117 million at the end of the forecast period. The 2 seater segment is slightly smaller by comparison but a CAGR growth rate equal to the 1 seater segment in the snowmobile market makes it well worth the while of key players.
<500 CC Segment Dominates the Global Snowmobile Market
The <500 CC segment is approaching 70% revenue share of the global snowmobile market by engine capacity type segment in the year 2017.
Companies are advised to attack APEJ even though North America is the largest region as the former is on track to record a higher CAGR of 4.3% for the period from 2017 to 2022. The 500CC- 800 CC segment is much smaller and has a revenue share of only 16% of the global snowmobile market.
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The Fact.MR report has profiled the prominent companies’ active in the snowmobiles market. The companies are
- Arctic Cat
- Polaris Industries
- Yamaha Motor Corporation
- Bombardier Recreational Products
- John Deere GMBH
Seating Capacity Type
Engine Capacity Type
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Snowmobiles are recreational devices meant to traverse regions that have witnessed heavy snowfall.
The snowmobile market is a niche market and has limited demand, mainly in the northern regions of the globe such as Europe or North America. The snowmobile market is also constrained by the relatively high cost of snowmobiles and the fact that they can only be used in the winter months.
The snowmobile market was dramatically impacted by the global recession of 2007-2009 but has seen a gradual recovery in the decade since. The improving economic conditions, particularly in some countries of the developed world are the major driver of the snowmobile market.
A positive economic scenario has allowed youth in these regions to indulge in recreational activities and sports, thereby benefiting the expansion of snowmobile market. The report, compiled by Fact.MR, provides in-depth analysis of the global snowmobile market for the forecast period 2017-2022, and offers key insights about future market direction.
The scope of Fact.MR’s report is to analyze the global snowmobile market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis.
Snowmobile manufacturers, stakeholders, and suppliers in the global sports industry can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and sports journals.
The report commences with a brief information of the global snowmobile market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global snowmobile market.
The next section offers an overview of the snowmobile market. This comprises an introduction to the market, along with a standard definition of the product – snowmobile.
In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global snowmobile market, the report provides updates about market opportunities, which can benefit leading manufacturers of snowmobiles.
With continuous evolution of the sports industry, keeping a record of latest developments and trends is fundamental for snowmobile manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.
Considering the wide scope of the global snowmobile market and to offer in-depth insights, Fact.MR’s report provides segment-wise analysis and forecast.
The global snowmobile market has been categorized on the basis of product type, seating capacity type, engine capacity type, channel and region. This segmentation analysis is comprehensive, coupled with a detailed country-wise forecast provided on all parameters.
The report’s last section comprises of the global snowmobile market competitive landscape, to provide readers with the dashboard view of company analysis and market players.
This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global snowmobile market.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research.
We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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