Press release
Snowmobile Market Size, Outlook, Trends 2024-2033
Snowmobile Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The snowmobile market size has grown strongly in recent years. It will grow from $1.68 billion in 2023 to $1.77 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to winter tourism growth, expansion of snowmobiling trails, economic prosperity, extreme sports popularity, rural lifestyle and accessibility..
The snowmobile market size is expected to see steady growth in the next few years. It will grow to $2.11 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to environmental regulations compliance, rise of adventure tourism, winter sports competitions, youth involvement programs, climate change impact.. Major trends in the forecast period include smart connectivity, lightweight materials and design innovations, ergonomic design for comfort, trail and backcountry versatility, customization options for personalization..
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Key Market Players:
Yamaha Motor Corporation, Polaris Inc., Bombardier Recreational Products Inc. (BRP), Camso Inc., Triton Services Inc., Arctic Cat Inc., Kimpex Inc., Woody's Traction (International Engineering & Manufacturing Inc.), KLIM Technical Riding Gear, Blackcomb Snowmobile, Backcountry Access Inc., Boondocker LLC, Slednecks, Alpina Snowmobiles S.r.l., Skinz Protective Gear, Sled Solutions LLC, Curve Industries Inc., IceAge Performance, TimberSled, AD Boivin Inc., Crazy Mountain Motorports Inc., Laflamme Racing, Taiga Motors Corporation, Taiga Motors Group, Crazy Mountain Industries Inc., Aurora Powertrains are prominent players in the industry.
Market Drivers:
The increasing popularity of recreational activities is expected to propel the growth of the snowmobile market going forward. Recreational activities refer to outdoor leisure pursuits, including skiing, snowboarding, ice skating, and snowmobiling. The increasing popularity of outdoor activities during the winter has contributed to a higher demand for snowmobiles as people seek thrilling and efficient ways to explore snowy landscapes and access remote areas. For instance, in June 2023, according to the Outdoor Participation Trend report by the Outdoor Industry Association (OIA), a US-based non-profit organization, the outdoor recreation participant base increased by 2.3% in 2022 to a record 168.1 million participants compared to 164.2 million in 2021, representing 55% of the U.S. population aged six and older. Therefore, the increasing popularity of winter sports and recreational activities will drive the growth of the snowmobile market.
Market Segments Include:
1) By Product Type: Entry level, Performance, Touring, Mountain, Utility, Crossover
2) By Engine Type: Two Stroke Engine, Four Stroke Engine
3) By Engine Size: Below 500 CC, 500 CC To 900 CC, Above 900 CC
4) By Seating Capacity: Single Seater, Multi Seater
5) By Distribution Channel: Offline, Online
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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