- By Region, Competition Forecast & Opportunities, 2027”, the snowmobile market is anticipated to grow with a formidable CAGR during the forecast period of 2023-2027. The market growth can be attributed to the increasing inclination of the young population towards recreational sports along with the inflating disposable income of the consumers. In several snow-covered regions, snowmobiling is taken as a family activity, particularly in areas such as the U.S., Canada, and Alaska, for recreational purposes. This eventually is adding to the market growth. Besides, technological advancements by snowmobile manufacturers, such as the introduction of efficient and eco-friendly variants that results in zero carbon emission, are providing a thrust to the market. In addition, the governments of several countries, particularly the snow-covered countries, are promoting the adoption of electric snowmobiles in order to add to tourism in the country in a sustainable manner.
In addition, the manufacturers are also working towards enhancing the safety measures, which is acting as another growth-inducing factor for the market. For instance, the Taiga TS2, launched by Taiga, a leader in snowmobile manufacturing, is the modern version of a conventional sledge on the outside. It weighs approximately 500 pounds and has a battery-powered drive train. Furthermore, Taiga claims that TS2 can go from 0 to 60 mph in just 3 seconds, which is much faster than any gas-powered variants available in the market. Besides, electric snowmobiles are much quieter than gas-powered snowmobiles. An electric snowmobile is comparatively silent on trial, hence providing a fantastic experience to the rider. Furthermore, electric motors require less maintenance than gas-powered substitutes because the moving parts in the electric snowmobiles are much lesser. This is providing a positive outlook to the overall market.
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“On the geographical front, North America is anticipated to hold a prominent market share in the coming years. This can be accredited to the large share of demand for snowmobiles in the U.S. and Canada. Furthermore, the improved standards of living and inflating per capita income are also adding to the region’s market growth. Additionally, the European region is also anticipated to grow at a fast pace due to rising tourism in the countries like Finland, Switzerland, and Sweden. Moreover, snow-covered area such as Antarctica is likely to have a significant market share because most of the land is covered with snow and snowmobile trailers are the only mode of transportation in these regions. Apart from this, the prevalent trend of snowmobile racing and tournaments is acting as another growth-inducing factor for the market. World Champion Derby Complex organizes a snowmobile racing tournament every year, and numerous people turn up for this prestigious tournament. This eventually is adding to the demand for electric snowmobiles as they are really fast in speed and have zero emissions.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Electric Snowmobile Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Type (Biothelys Thermal Hydrolysis, Exelys Thermal Hydrolysis), By End Use (Wastewater treatment, Reduction of waste by product, Production of biogas), By Solution (Sewage Sludge Management, Organic Waste Management), By Region” has evaluated the future growth potential of snowmobile market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in snowmobile market.
