Global Snowmobile Market In-depth Evaluation on Growth, Share, Size and Trends Until the End of 2022

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.

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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.

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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This release was published on openPR.