Market Insights
Snowmobiles are designed to move on snow or ice and they can be used for a variety of applications ranging from patrolling, winter sports, etc. The best part of these recreational vehicles is that they do not require any road or path for their movements from one place to another, rather they can just slide on the snow. Over the years, the increasing use of such vehicles for border patrolling, rescue missions, and sports activities around the globe have been giving the impetus to market growth.
The global snowmobile market has a long and illustrious history spanning over six decades. The snowmobile market grew in popularity as a recreational vehicle in North America during the 1960s, resulting in the arrival of several new market players. They began to compete with one another for market share. Only four big players survived the competition over time, and they continue to serve the global market as essential participants today. All of the players have a strong regional presence, serving both the North American and foreign markets.
Snowmobiles, the unique market segment, recorded a healthy increase in their demand amid the pandemic. In terms of units, the snowmobiles market grew by 7.7% in the year 2020 and is subjected to further flourish at a healthy CAGR of 4.3% over the next five years. In terms of value, the snowmobiles market was estimated at US$ 1.67 billion in 2020 and is estimated to reach a value of US$ 2.9 billion in 2027.
Segments' Analysis
Based on type, the snowmobile market is classified as mountain, crossover, cross country/performance, utility, touring, and others. Among these vehicle types, mountain and crossover snowmobiles together accounted for more than 50% of the global market in 2021 and are estimated to remain the major ones in the years to come. Crosscountry/performance snowmobile, another noticeable segment, is likely to witness the highest growth in the coming five years.
Similarly, based on the displacement type, the market is segmented as >400CC, 400-600CC, 600-800CC, and >800CC. Among these sub-segments, 600-800CC snowmobiles are quite popular because of the power delivery of the engines. Moreover, less muscle is required to carry it over terrain and it maintains optimal control of the snowmobile.
Likewise, on the basis of cylinder type, the market is segmented as one cylinder, two cylinders, and three cylinders. Among these cylinder types, it is estimated that two cylinder-based snowmobiles will dominate the market throughout the forecast period. Two-cylinder engines produce more power units than three-cylinder engines.
In terms of regions, North America is expected to remain the largest market for snowmobiles during the forecast period. In 2021, the region alone accounted for more than 84% of global sales. Europe is also expected to grow at a decent rate over the next five years, as a result of its increasing usage of snowmobiles. As winter sports are very popular in North America and many European countries, the near-term prospect of the overall snowmobile industry seems very promising.
Key Players
The following are the key players in the snowmobile market:
- BRP Inc.
- Polaris Inc.
- Arctic Cat Inc. (Part of Textron)
- Yamaha Motor Co., Ltd.
- Alpina Snowmobiles S.r.l
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s snowmobile market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The snowmobile market is segmented into the following categories:
Snowmobile Market, by Type
- Mountain (Trend and Forecast)
- Crossover (Trend and Forecast)
- Cross Country/Performance (Trend and Forecast)
- Utility (Trend and Forecast)
- Touring (Trend and Forecast)
- Others (Trend and Forecast)
Snowmobile Market, by Displacement Type
- >400CC (Trend and Forecast)
- 400-600CC (Trend and Forecast)
- 600-800CC (Trend and Forecast)
- >800CC (Trend and Forecast)
Snowmobile Market, by Cylinder Type
- One Cylinder (Trend and Forecast)
- Two Cylinders (Trend and Forecast)
- Three Cylinders (Trend and Forecast)
Snowmobile Market, by Region
- North America (Trend and Forecast)
- Europe (Trend and Forecast)
- Asia-Pacific (Trend and Forecast)
- Rest of the World (Trend and Forecast)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
