Snowmobile Market Production, Trends, Price, Revenue, Share, Growth and Forecast Until 2022

Posted on 2018-01-11 by Mark Hub in Sports // 0 Comments

CITY, Country, 2018-Jan-11 — /EPR Network/ —

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.

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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.

5 Key Takeaways from Fact.MR’s Report on Snowmobile Market

1) Specialty stores account for more than a third of the revenue share in the global snowmobile market by sales channel and are poised to grow during the forecast period. The specialty store segment is anticipated to be worth just under US$ 580 million by end 2022. These stores are followed by the online segment with a revenue share approaching a quarter of the global snowmobile market in 2017. Companies actively involved in the global snowmobile market could seek to target North America as the online channel is predicted to be particularly popular on this continent

2) The 800 CC and above segment represents the most powerful snowmobiles currently available in the global snowmobile market. Europe is projected to grow with a CAGR of 3.5% in the 800 CC segment mainly because this continent has affluent customers who are less price sensitive and willing to pay a premium for quality and performance. This segment is dwarfed by the <500 CC segment, which dominates the global snowmobile market by capacity type. Companies may want to focus their attention on both North America and Europe as both are on track cross a value of US$140 million by end 2022, making them too big to ignore in the global snowmobile market

3) The 5 and 6 Seater segments of the global snowmobile market are comparative niches as most customers prefer snowmobiles with 1, 2 or 3 seats. The 5 seater segment has a revenue share of approx. 12% and North America contributes a third of this. A similar situation exists in the 6 seater segment of the global snowmobile market as well

4) 1 and 2 seater snowmobiles are the most popular in the global snowmobile market and it is not surprising to see why. The 2 seater segment of the global snowmobile market is predicted to almost touch US$ 100 million in North America alone by 2022 with Europe following closely behind. The 1 seater segment is estimated to grow more in Latin America and APEJ but neither is likely to outpace North America anytime soon in the global snowmobile market

5) Entry level snowmobiles represent a quarter of the revenue share by product type segment in the global snowmobile market. Entry level snowmobiles could be marketed to customers in Latin America as customers in this region are more cost-conscious than their North American or European counterparts

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Competition Analysis

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, and Textron.

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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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