Composites Market in the Snowmobile Industry Growth Analysis | 2022-2027

Market Insights

The composites market in the snowmobile industry is likely to witness a CAGR of 4.0% during the forecast period. Increasing demand for composites from major snowmobile manufacturers is expected to drive the growth of the market. In addition, the surge in demand for personal snowmobiles and increasing tourism are expected to fuel the growth of the market during the forecast period.

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Segments' Analysis

By Manufacturing Process

Based on the manufacturing process type, the market is segmented as sheet molding compound process and others. The sheet molding compound process is expected to remain dominant for composite part fabrication in the snowmobile industry during the forecast period. Glass fiber is widely used in most composite applications in the snowmobile industry. Furthermore, the sheet molding compound process is credited with exceptional properties such as good surface appearance and outstanding mechanical properties. This is expected to fuel the segment's growth over the forecast period.

Regional Insights

In terms of regions, North America is estimated to be the leading region in the market owing to the high demand for watersports equipment in the USA and Canada. Furthermore, the well-developed tourism industry in North America is expected to drive market growth over the forecast period. Also, Europe and Asia-Pacific are expected to offer substantial growth opportunities during the forecast period.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market. 

The market is segmented into the following categories.

By Watercraft Type

• Recreational Watercrafts
• Muscle Watercrafts
• Luxury Watercrafts
• Performance Watercrafts
• Sports Watercrafts

By Manufacturing Process Type

• Sheet Molding Compound Process
• Others

By Application Type

• Skis
• Body Panels
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the key players in the market are-

• Arctic Cat
• BRP Inc.
• Creative Composites
• Polaris
• Yamaha Motor Co., Ltd.
• PM Composites.

Research Methodology

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 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain 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.

What Deliverables Will You Get in this Report?

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 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation by any one of the watercraft types by application type.  

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 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.