Global Snowmobile Market Precise Study on Factors, Market Drivers and Key Players Strategies analyzed Till 2022 || Key Players - Arctic Cat, Polaris Industries, Yamaha Motor Corporation, Bombardier Recreational Products, John Deere GMBH
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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.
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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