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Snowmobile Market Trends

  • Report ID: GMI6184
  • Published Date: Mar 2024
  • Report Format: PDF

Snowmobile Market Trends

The rising electrification trend in the automotive industry is driving the snowmobile industry growth by promoting environmental sustainability, augmenting technological advancements, and influencing consumer preferences. Electric snowmobiles, inspired by the developments in electric vehicles, offer a cleaner & more sustainable alternative to traditional gasoline-powered models.
 

For instance, in February 2024, Vidde, an innovative leader in eco-conscious transportation, is poised to transform the snowmobile sector through the introduction of Alfa, a circular electric snowmobile. This pioneering vehicle represents a major advancement in the quest for greener, more sustainable snowmobiling adventures, signifying a remarkable achievement for the industry. Technological advancements in battery technology, electric motors, and power management systems have improved the efficiency, range & charging capabilities of electric snowmobiles.
 

Increasing investments in research and development in the power sports industry are proving lucrative for the snowmobile market. These investments drive innovation, leading to the development of technologies, enhanced performance features, and eco-friendly designs in snowmobiles. Such advancements attract consumers seeking recreational vehicles, spurring sales and market growth. Additionally, R&D investments contribute to the creation of more durable, efficient, and environmentally sustainable snowmobiles, aligning with evolving consumer preferences and regulatory standards, further bolstering the market's prospects.

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of snowmobile reached USD 1.2 billion in 2023 and is set to witness 8% CAGR between 2024 and 2032, attributed to expanding recreational activities in snow-covered regions and rising interest in outdoor winter sports.

The recreation application segment accounted for 38% market share in 2023, owing to the surge in investments aimed at enhancing travel and tourism.

North America market share was over 75% in 2023, due to the burgeoning popularity of outdoor winter sports in the region, with focus on innovation among manufacturers.

Alpina Snowmobiles, Arctic Cat, Auburn Extreme Powersports, Aurora Powertrains, BRP, Glende Polaris Yamaha, Polaris, RumbleOn, Taiga Motors Inc., Tracks USA, and Yamaha.

Snowmobile Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 12
  • Tables & Figures: 280
  • Countries covered: 25
  • Pages: 220
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