Snowmobile Market: Four Stroke Engine to Surpass at 3.9% CAGR During 2020-2030

According to a recent report published by Allied Market Research, titled, "snowmobile market by displacement type, engine type and distribution channel: global opportunity analysis and industry forecast, 2021-2030," the global snowmobile market was valued at $1.59 billion in 2020, and is projected to reach $2.13 billion by 2030, registering a CAGR of 3.1% from 2021 to 2030.

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North America dominates the market, in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. U.S. dominated the global snowmobile market share in 2020. Mexico is expected to grow at a significant rate during the forecast period, owing to increase in demand for smart vehicles.

Snowmobiles are winter recreational vehicles, often appearing in snow-covered areas. Snowmobile is an open terrain vehicle and does not require road and rail and can smoothly run over snow and ice. They are also commonly known as sleds or snow-making machines. Demand for snowmobiles is limited. As a leisure transportation, snowmobiles are usually sold in areas with sufficient snow. Snowmobiles are generally offered in single-seater and two-seater versions, in which single-seater is commonly found variant. The type of engine installed in snowmobile is very significant as performance and power are one of the key factors while choosing a snowmobile.

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Snowmobiles can be powered by a two stroke or a four-stroke engine. These engines are similar to that found in personal watercraft. Recent global economic recession has severely affected the global snowmobile market as these vehicles are expensive and may cost thousands of dollars, limiting their attractiveness to affluent class of society. However, there has been a gradual recovery in the market in the last decade. Furthermore, ongoing technological advancements and new product launches by major players operating in the market are expected to create lucrative opportunities.

The global snowmobile market has been segmented on the basis of displacement type, engine type, distribution channel, and region. By displacement type, the market is segmented into

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