Growth of Snowmobile Market: Industry Player, Price, Revenue, Share, Trends and Forecast Until 2022

Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth ofSnowmobile Market. The study is titled as “Snowmobile Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of (). For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global snowmobile market.

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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.

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.

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