Market Research Future (MRFR) has published on the “Global Snowmobile Parts & Accessories Market”.
The snowmobile parts and accessories market offer a wide range of products designed to enhance, maintain, and personalize snowmobiles. This market serves snowmobile enthusiasts, riders, and professionals who seek to optimize performance, safety, and comfort during snowmobile use. The market includes components such as engine parts, suspension systems, tracks, and safety gear, as well as various accessories like apparel, helmets, and storage solutions. The market continues to offer a diverse array of products that cater to both recreational and commercial snowmobiling needs
Market Research Future (MRFR) has published a cooked research report on the “Global Snowmobile Parts & Accessories Market” that contains information from 2019 to 2032. The Snowmobile Parts & Accessories Market is estimated to register a CAGR of 4.4 % during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Snowmobile Parts & Accessories Market - Polaris Inc, Arctic Cat Inc. (Textron), Brp Inc., Alpina Snowmobiles S.R.L, Taiga Motors Inc, Caliber Products Inc., Diamond S Manufacturing, and Straightline Performance Inc, Sp1 Products, Proven Design Products, Hitchdoc Powersports, Lje Product, Carbonsled, Kyber, Qualipieces and Others.
Market Highlights
The global Snowmobile Parts & Accessories Market is accounted for to register a CAGR of 4.4 % during the forecast period and is estimated to reach USD 783.0 million by 2032.
The snowmobile parts market is growing due to the increasing popularity of snowmobiling as a recreational activity and the demand for snowmobiles in various industries. Snowmobiles require regular maintenance and repairs due to harsh weather conditions and heavy usage, creating a steady demand for replacement parts and accessories. The market is also driven by the development of a wide range of aftermarket products, as many snowmobile enthusiasts enjoy customizing and personalizing their vehicles with unique parts and accessories. As the snowmobiling industry continues to grow, the snowmobile parts market is expected to expand, with new technologies and features emerging to meet the changing needs of the market.
Electric snowmobiles are a new type of snowmobile that are being explored by snowmobilers globally. They offer several advantages over traditional gas-powered snowmobiles, including being quieter, more efficient, and environmentally friendly. Electric snowmobiles have fewer moving parts than gas-powered snowmobiles, making them easier to maintain. They are also more efficient, allowing them to travel further on a single charge. However, electric snowmobiles have some drawbacks, including a short range of about 80-110 miles on a fully charged battery, which is not enough for multiple days or long days. They are also initially more expensive than gas-powered snowmobiles due to the cost of expensive batteries. Despite these drawbacks, electric snowmobiles are becoming more common, and manufacturers are finding new ways to further range and make charging faster and more accessible.
Segment Analysis
The global Snowmobile Parts & Accessories Market has been segmented based on Snowmobile Type, Propulsion Type, Product Type, End Use, Distribution Channel. Based on Snowmobile type, the global Snowmobile Parts & Accessories Market segmentation includes Trail, Crossover, Mountain, and Utility. The Trail segment held the majority share in 2022, contributing around ~52.0 % to the market revenue.
Based on Propulsion Type, the global Snowmobile Parts & Accessories Market segmentation includes ICE and Electric. The ICE Snowmobile Parts & Accessories segment held the majority share in 2022 contributing around ~91.7% to the market revenue.
Based on the Product Type, the global Snowmobile Parts & Accessories Market segmentation includes Parts and Accessories. By product type, parts segment holds the majority market share in 2022 contributing 69.1% of the market share. One of the reasons for this growth is the increasing interest of young people in recreational sports. Additionally, rising disposable income and the growing trend of snowmobiling in emerging markets are expected to further boost the growth of the snowmobile parts market. In the United States, snowmobiling is becoming a popular family activity, and many families opt for snowmobiles for recreational purposes, which has created a demand for snowmobile parts.
Based on End Use, the global Snowmobile Parts & Accessories Market segmentation includes OEM and Aftermarket. By End Use, the OEM segment holds the majority market share in 2022 contributing 67.6 % of the market share. The presence of key market players in the OEM market for the snowmobile parts and accessories market further propel the market growth in the segment. The market players are considerably contributing to the market growth by the adoption of various strategies including merger, and acquisition, collaborations, funding to the start-ups, and new product launches to stay competitive in the market. For instance, Polaris Inc., a leading manufacturer of snowmobiles and snow bike, designs, engineers, produces, or supplies a variety of replacement parts and Polaris Engineered Accessories for their snowmobiles and snow bike.
Based on Distribution Channel, the global Snowmobile Parts & Accessories Market segmentation includes Brick & Mortar Stores, E-commerce Marketplaces, Direct-to-Consumer, and Online Retailer. By Distribution Channel, the E-commerce Marketplaces segment holds the majority market share in 2022 contributing 42.8% of the market share.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Snowmobile Parts & Accessories Market Research ReportRegional Analysis
By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In terms of revenue, North America held the largest share of 74.5% in the Snowmobile Parts & Accessories Market in 2022 and is expected to maintain its dominance during the forecast period. North America is expected to dominate the global Snowmobile Parts & Accessories Market in terms of market share during the forecast period.
The North American snowmobile parts and accessories market is a major segment within the recreational vehicle industry. This market consists of a broad range of products designed for enhancing the safety, aesthetics, and performance of snowmobiles. As winter sports as well as outdoor activities gain popularity, thus the increase in demand for snowmobile parts and accessories is growing continuously. North American snowmobile parts and accessories market shows the shift in preference towards outdoor enthusiasts as well as ongoing advancement in technology. The growing demand for recreational vehicles is contributing to the growth of the North America snowmobile parts.
Europe, according to the International Snowmobile Manufacturers Association (ISMA), in the winter of 2021-2022, there were 25,880 snowmobiles sold in Europe and Russia, which is a 10% increase from the previous year. The increases in sales further propel the market growth in Europe.
In Asia- Pacific, the consumer is becoming more tech-savvy as well as custom to online platforms that offer them access to a broad range of products without having geographical limitations. This shift to an e-commerce platform has allowed customers for exploring different alternatives, compare prices as well as make informed decisions through laptops, computers, or smartphones. This convenience, and competitive pricing offered by online platforms are a factor driving the surge in demand for snowmobile parts and accessories in the region.
The Middle East and Africa snowmobile parts and accessories market is moderately gaining traction because of increased interest in winter sports as well as recreational activities. Although the region may not be popular for snow-related activities as in colder climates, there is a rising curiosity among the locals and tourists to explore snowmobiling experiences. Moreover, the improved Economic conditions are boosting the demand for snowmobile parts and accessories.
The South America snowmobile parts and accessories market is in an early stage but evolving industry. While snowmobiling is not pervasive in the region because of its predominantly warm climate, there is increasing interest among tourists and adventurers’ seekers. Moreover, the rise in winter tourism in many areas has led to moderate demand for snowmobile parts and accessories. Online sales platforms are also playing crucial roles in this market, as they allow access to a broad range of products globally.
Key Findings of the Study
- The global Snowmobile Parts & Accessories Market is expected to reach USD 783.0 million by 2032, at a CAGR of 4.4% during the forecast period.
- The North America region accounted for the fastest-growing global market, imperative factors, such as the significant number of investments and key market players in North America, making it the primary contributor to the market share.
- Based on Propulsion, the ICE Snowmobile Parts & Accessories segment was attributed to holding the largest market in 2022, with an approximate market share of 91.7 %.
- Polaris Inc, Arctic Cat Inc. (Textron), Brp Inc., Alpina Snowmobiles S.R.L, Taiga Motors Inc, Caliber Products Inc., Diamond S Manufacturing , and Straightline Performance Inc, Sp1 Products, Proven Design Products, Hitchdoc Powersports, Lje Product, Carbonsled, Kyber, Qualipieces and Others are key market players.
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Companies Covered | 15 |
Pages | 188 |
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