The global snowmobile industry recovered from the economic
recession and registered positive growth in 2011. The rise in sales of
snowmobiles in the year 2011 was mainly attributed to the favorable snow and
cold weather and an increased interest in snowmobiling by Generation Y group.
Sales increases in snowmobiles was the highest in Europe and
Russia.
Today, snowmobiling is one of the most preferred outdoor sports in the world,
with the U.S. and Canada jointly
accounting for more than 75 percent of the total annual unit snowmobile sales
in the year 2011. The total number of registered snowmobiles also witnessed an
increase in 2011. Snowmobiling is one of the popular winter recreational
sports, particularly in the snow belts of the United
States and Canada.
The popularity of snowmobiling can
be attributed to the fun and sense of adventure involved. Besides, snowmobiling
also provides ample avenues for exploring nature. In addition, health awareness
among consumers and with the growing concept of the 'great outdoors' gaining
popularity, greater numbers of people are likely to take the sports, given the
additional health and enjoyment benefits it provides.
The trends are expected to enhance the importance of
snowmobiling as a form of healthy and wholesome outdoor recreation in the near
term. Some of the factors that contribute towards sustainable growth in the
snowmobile industry, other than cyclical and weather dependent factors, include
production redesign cycles, replacement buying by consumers and the launch of
four stroke engines. Manufacturers are innovating and introducing new products
to meet the product demand. Further, improvements in the production process of
snowmobiles, either through vertical integration or through efficient
outsourcing, are expected to propel market growth.
The United States,
Canada and Scandinavia
constitute the major markets for snowmobiles, cumulatively accounting for a
lion's share of the global demand for snowmobiles. The U.S. represents the single largest
global market for snowmobiles, both in volume and value terms, as stated by the
new market research report on snowmobiles.
Canada
and Scandinavia represent the other major
markets for snowmobiles. Growth is, however, forecast to emanate from the rest
of world markets, which are slated to witness faster growth through 2017,
compared to the other major markets of the U.S.,
Canada, and Scandinavia.