Snowmobile Market Overview:
The sudden outbreak of COVID-19 has led to unforeseen fluctuations across many industries and the Snowmobile Market is no different. Snowmobiles, the unique market segment, recorded a healthy increase in their demand amid the pandemic. In terms of units, the snowmobile 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 snowmobile market was estimated at US$ 1.67 billion in 2020 and is estimated to reach a value of US$ 2.9 billion in 2027.
Key Players:
- BRP Inc.
- Polaris Inc.
- Arctic Cat Inc. (Part of Textron)
- Yamaha Motor Co., Ltd.
- Alpina Snowmobiles S.r.l
The Snowmobile Market is segmented by–
- By Type(Mountain, Crossover, Cross Country/Performance, Utility, Touring, and Others)
- By Displacement Type (>400CC, 400-600CC, 600-800CC, and >800CC)
- By Cylinder Type (One Cylinder, Two Cylinders, and Three Cylinders)
- By Region(North America, Europe, Asia-Pacific, and Rest of the World)
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Regional analysis:
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.
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