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2021
Snowmobile Market

Snowmobile Market by Displacement Type (<500 CC, 500 CC to 800 CC, and 800 CC & Above), Engine Type (Two-Stroke Engine and Four-Stroke Engine), and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2021–2030

A11731
Pages: 215
Sep 2021 | 3316 Views
Author(s) : Abhay Singh , Sonia Mutreja
Tables: 110
Charts: 49
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Snowmobile Market Statistics 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.  

COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge. Rapid spread of the disease has led to a significant impact on the global automotive industry, with a downturn in demand for new and old vehicles. Industry experts believe that post the pandemic, last-mile conveyance is expected to shift toward personal mobility and the electric vehicle industry would register a suitable growth rate.

Snowmobile is a recreational vehicle, which is designed to move over ice or snow and is intended to carry out numerous activities such as sports, patrolling, and other activities. Snowmobiles are designed in such a way that they do not require a track, road, or a trail to move from one place to another. Snowmobiles have in-vehicle attached tracks just like a tank and upon movement of the track, snowmobile slides over snow or ice, thus giving a comfortable ride to the rider. Increase in recreational activities and other applications such as border patrolling and rescue operations carried out across different countries have created a positive impact on growth of the snowmobile market across the globe.   

Snowmobile-Market-2021-2030

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Factors such as consumer inclination toward use of e-snow bikes as an eco-friendly & efficient solution for commute, ability to increase diving range, and ease of navigation supplements growth of the market across the globe. However, factors such as high maintenance cost and safety issues related while driving are the factors that create a negative impact, which propels growth of the market. Moreover, wider application in rescue operations and surge in winter tourism & adventure sports are the factors that are expected to provide lucrative opportunities for growth of the market across the globe in the future.

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 <500 CC, 500 CC to 800 CC, and 800 CC & above. By engine type, it is segmented into two-stroke engine and four-stroke engine. By distribution channel, it is segmented into offline and online. By region, the global market is segmented into North America, Europe, Asia-Pacific, and LAMEA. 

The key players profiled in the report includes Alpina Snowmobiles S.r.l., Arctic Cat Inc., BRP, Crazy Mountain, John Deere GMBH & Co.KG., MST, Polaris Inc., Taiga Motors, Yamaha Motor Corporation, Ski-doo and Lynx. 

Ability to increase the driving range

Driving range for snowmobiles increases depending upon efficiency of vehicles. Earlier, driving activities were restricted maximum up to a specific length; however, with introduction of advanced features in vehicles, the range has exceeded to several kilometers. In addition, introduction of efficient snowmobile technology such as electric propelled snowmobiles has increased their adoption for sports activities as well as for safety & security purpose. Thus, ability of snowmobiles to increase driving range is the key factor that propels the market across the globe.

Snowmobile Market
By Displacement Type

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<500 CC is projected as the most lucrative segments

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Easy for navigation

Snowmobiles and similar driver propulsion vehicles are easy to use for navigation, as they operate at high speed as well as do not require training or license for their operation. This leads to increased deployment of snowmobiles for navigation, which acts as a key driver for the global market. In addition, improvement in performance and travelling range of snowmobiles has increased their adoption for navigation purpose, which leads to growth of the market.

Snowmobile Market
By Engine Type

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Racing is projected as the most lucrative segments

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Safety issues related to driving

Safety issues related to snowmobiles negatively impacts the snowmobile market growth. In addition, early discharge of battery, freezing of fuel at low temperature on mountains, and frequent fuel drainage in the middle of voyage due to mishap are expected to hamper sales of snowmobiles across the globe, thereby restraining the growth of the market. Moreover, increase in incidences of accidents and rise in risk of falling off of riders limits the market growth. For instance, in March 2021, a youngster died in snowmobile crash in South Frontenac as the driver was thrown from the vehicle when it struck a mound under the snow. Such accidents taking place across the globe restrain growth of the market across the globe.

Snowmobile Market
By Distribution Channel

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Online is projected as the most lucrative segments

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Surge in winter tourism & adventure sports

Improvement of economic conditions and growth of disposable income are important factors that drive growth of the winter adventure tourism industry across the globe. After the European economic crisis and China's economic crisis, the world economy has declined. However, strong recovery from this crisis caused clear economic growth, particularly in developing economies and has led to increase in disposable income among middle-income groups. In addition, disposable income of individuals in North America and Asia-Pacific has witnessed a high growth rate, which acts as a major driver for the market as medium- and high-income consumers in urban areas are shifting their consumption trend from essential to premium goods & services. This trend is encouraging people to invest in recreational activities. Growth in interest of consumers toward winter sport activities, coupled with improved participation among all age groups has influenced development of recreational snowmobile facilities across the globe. Furthermore, in recent years, various government authorities have actively started accentuating promotion of winter sports. In several countries, initiatives have been commenced to encourage development of winter sports facilities and recreational snowmobiling. Thus, surge in winter tourism & adventure sports is expected to propel the snowmobile market growth. 

Snowmobile Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

Europe would exhibit the highest CAGR of 7.6% during 2021-2030.

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Covid-19 Impact Analysis

  • COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge.
  • Rapid spread of the disease has led to a significant impact on the global automotive industry, with a downturn in demand for new and old vehicles.
  • Industry experts believe that post the pandemic, last-mile conveyance is expected to shift toward personal mobility and the electric vehicle industry would register a suitable growth rate.
  • Amid a new reality of working from home, canceling trips, and even forgoing outings to restaurants and grocery stores, the mobility industry encompassing a range of lightweight vehicles, such as bicycles, e-scooters, and mopeds, is facing devastating declines in ridership and revenue.
  • Moreover, during the end of 2020, the situation came in control in some countries due to which the demand & supply gap was fulfilled, resulting in registration of new vehicles due to the need to avoid public transport to commute from one place to another.

Key Benefits For Stakeholders

  • This study presents analytical depiction of the global snowmobile market analysis along with current trends and future estimations to depict imminent investment pockets.
  • The overall Snowmobile market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to the key drivers, restraints, and opportunities of the global snowmobile market with a detailed impact analysis.
  • The current snowmobile market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Key Market Segments

By Displacement Type

  • <500 CC
  • 500 CC to 800 CC
  • 800 CC & above

By Engine Type

  • Two-Stroke Engine
  • Four-Stroke Engine

By Distribution Channels

  • Offline
  • Online

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany 
    • France 
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan 
    • India
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Players

  • Alpina Snowmobiles S.r.l.
  • Arctic Cat Inc.
  • BRP
  • Crazy Mountain
  • John Deere GMBH & Co.KG.
  • MST
  • Polaris Inc.
  • Taiga Motors
  • Yamaha Motor Corporation
  • Ski-doo
  • Lynx
 

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Growth of the global snowmobile market is driven by numerous developments carried out by top snowmobile manufacturers, which has led to growth of the market. Moreover, presence of different companies operating in the snowmobile market supplements growth of the market by offering efficient products & services to its customers across the globe.

In addition, development strategies carried out by key players has also created a positive impact on growth of the market across the globe. For instance, in August 2021, Alpina Snowmobiles launched Superclass 1.2L VVT 12V snowmobile across different locations. Similarly, In March 2021, Arctic Cat launched its snowmobile lineup “The BLAST” with two new sleds to the family with addition of the BLAST XR 4000 and BLAST XR Touring 4000, the first mid-sized touring sled.

Factors such as consumer inclination toward use of e-snow bikes as an eco-friendly & efficient solution for commute, ability to increase diving range, and ease of navigation supplements growth of the market across the globe. However, factors such as high maintenance cost and safety issues related while driving are the factors that create a negative impact, which propels growth of the market. Moreover, wider application in rescue operations and surge in winter tourism & adventure sports are the factors that are expected to provide lucrative opportunities for growth of the market across the globe in the future.

Among the analyzed regions, North America is the highest revenue contributor, followed by Europe, Asia-Pacific, and LAMEA. On the basis of forecast analysis, Europe is expected to maintain its lead during the forecast period, owing to increase in trend for recreational activities by youngsters.

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FREQUENTLY ASKED QUESTIONS?

A. The global snowmobile market was valued at $1.59 billion in 2020, and is projected to reach $2.12 billion by 2030, registering a CAGR of 3.1% from 2021 to 2030.

A. BRP, Alpina Snowmobiles S.r.l., Arctic Cat Inc. are some of the major manufacturers operating in the global snowmobile market

A. The sample for global snowmobile market report can be obtained on demand from the AMR website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.

A. BRP & Its subsidiaries sells the most snowmobiles

A. The global snowmobile market was valued at $1.59 billion in 2020, and is projected to grow at a CAGR of 3.1% from 2021 to 2030.

A. The company profiles of the top market players of snowmobile market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the snowmobile market

A. Increased recrtational activity followed by inclination towards hill tourism supplements the growth of the market across the globe.

A. Introduction of electric snowmobiles are the recent developments in snowmobiles

A. Electric propelled snowmobiles are the upcoming trends in snowmobiles

A. Continuous product development followed by the introduction of new snowmobile models are the known and unknown adjacencies impacting the snowmobile market.

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