PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269595
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269595
Global Snowmobile Market is valued approximately USD 1.64 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 3.1 % over the forecast period 2022-2029. Snowmobile is a recreational vehicle designed to move over ice or snow and is used for a variety of activities such as sports, patrolling, and others. Snowmobiles are designed to move from one location to another without the use of a track, road, or trail. Snowmobiles, like tanks, have tracks attached to the vehicle, and when the track moves, the snowmobile slides over snow or ice, providing the rider with a comfortable ride. Increased recreational activities as well as other applications such as border patrolling and search and rescue operations. The increasing growth adventure tourism sector and growing use in border patrol and emergency recuse operations are key factors driving the market growth.
Over the years the popularity of adventure tourist activities has significantly increased creating strong demand for Global Snowmobile Market. For instance - as per Statista - in 2021, the global adventure tourism market was estimated at USD 288 billion, and as per forecast the market is projected to grow to USD 2,824 billion by 2030. Also, growing popularity of winter sports and recreational snow activities coupled with increasing penetration of electric snow mobiles would create lucrative growth prospectus for the market over the forecast period. However, high cost of snow mobiles hinders the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Snowmobile Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of leading market players and growing popularity of snow sports activities in the region. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising popularity of adventure sports and increasing penetration of regional market players operating under the Snowmobile market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable