Global snowmobiles market will record a strong CAGR and grow to a value of over US$ 1.6 billion in 2022

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Dublin 2, Ireland, 2018-Feb-05 — /EPR Network/ — 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.

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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.

5 Key Insights on Future of Snowmobile Market during 2017-2022

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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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.

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.

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  Sports 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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