Dublin, Aug. 26, 2024 (GLOBE NEWSWIRE) -- The "Snowmobiles - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Snowmobiles is estimated at US$1.8 Billion in 2023 and is projected to reach US$2.1 Billion by 2030, growing at a CAGR of 2.4% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The market dynamics of the snowmobile industry are further influenced by the expansion of trail networks and enhanced accessibility to remote areas. Governments and local entities in many snowy regions are investing in the development and maintenance of snowmobile trails, which not only improves the safety and enjoyment of the sport but also significantly boosts local economies through tourism.
Seasonal events and snowmobile competitions are increasingly being promoted to attract enthusiasts and boost community engagement, further driving the popularity of snowmobiling. With these trends, the snowmobile industry is set to continue its upward trajectory, supported by innovation, expanding infrastructure, and a robust demand for outdoor recreational activities.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Entry Level Snowmobile segment, which is expected to reach US$670.3 Million by 2030 with a CAGR of a 3.2%. The Mountain Snowmobile segment is also set to grow at 2.9% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $472.2 Million in 2023, and China, forecasted to grow at an impressive 2.3% CAGR to reach $339.3 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Arctic Cat Inc., Bombardier Recreational Products, Inc., Polaris Industries, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 343 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.8 Billion |
| Forecasted Market Value (USD) by 2030 | $2.1 Billion |
| Compound Annual Growth Rate | 2.4% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Snowmobiles - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
MARKET TRENDS & DRIVERS
- Increasing Popularity of Winter Sports and Recreational Activities
- Growth of Adventure Tourism Industry
- Advancements in Snowmobile Technology and Performance
- Rising Demand for Electric and Hybrid Snowmobiles
- Expansion of Snowmobile Applications in Rescue and Patrol Operations
- Role of Snowmobiles in Enhancing Outdoor Recreation Experiences
- Market Penetration of Snowmobiles in Emerging Winter Sports Destinations
- Influence of Technological Innovations on Snowmobile Design and Functionality
FOCUS ON SELECT PLAYERS (Total 149 Featured)
- Arctic Cat Inc.
- Bombardier Recreational Products, Inc.
- Polaris Industries, Inc.
- Textron, Inc.
- Yamaha Motor Corporation
For more information about this report visit https://www.researchandmarkets.com/r/45ldjq
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