Snowmobile Market to Witness a Handsome Growth during 2022-2027

December 29, 2022/Industry News Global/ -- This new report from Stratview Research analyses the Snowmobile Market over the trend period from 2014 to 2019 and the forecast period from 2020 to 2025. The insights of the report shall enable informed decision-making and strategy formulation for the near future to capitalize on the opportunities.
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)
Get access to a deeper coverage of the impact of COVID-19 on this Market here: https://www.stratviewresearch.com/Request-Sample/117/snowmobile-market.html#form
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.
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
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