Snowmobile Market Size - By Propulsion (Gasoline, Diesel, Electric), By Application (Utility, Sports, Recreation, Military) & Forecast, 2024 - 2032

Snowmobile Market Size

Snowmobile Market size was valued at USD 1.2 billion in 2023 and is estimated to register a CAGR of over 8% between 2024 and 2032. The rise in demand in various factors such as advancements in technology, expanding recreational activities in snow-covered regions, and rising interest in outdoor winter sports.
 

According to the International Snowmobile Manufacturers Association (ISMA) in 2023, the U.S. recorded about 1.27 million registered snowmobiles, with Canada registering over 618,000. This robust registration signifies sustained interest and demand, indicating a thriving snowmobile industry in North America. Such numbers underscore the popularity and economic significance of snowmobiling in these regions, driving growth opportunities for manufacturers and related industries.
 

Expanding tourism significantly fuels the snowmobile market by integrating these vehicles into winter travel experiences. Snowmobiles provide tourists with a unique way to explore snow-covered landscapes, access remote areas, and engage in thrilling adventures. Tour operators offer snowmobile excursions and guided tours, attracting both domestic & international travelers seeking memorable winter experiences. The versatility and excitement of snowmobiling contribute to its appeal as a must-try activity for tourists visiting snowy destinations, driving demand for rentals and sales in the market.
 

Accidents and injuries associated with snowmobiling can significantly impede the snowmobile market growth. Negative publicity surrounding accidents can undermine consumer confidence and deter potential buyers, particularly safety-conscious individuals. Increased concerns about personal safety may also lead to stricter regulations, mandatory safety training requirements, and higher insurance premiums for snowmobile owners. Such factors can create barriers to entry for new participants and discourage existing owners from upgrading or purchasing additional snowmobiles, limiting market expansion.
 

Snowmobile Market Trends

The rising electrification trend in the automotive industry is driving the snowmobile industry growth by promoting environmental sustainability, augmenting technological advancements, and influencing consumer preferences. Electric snowmobiles, inspired by the developments in electric vehicles, offer a cleaner & more sustainable alternative to traditional gasoline-powered models.
 

For instance, in February 2024, Vidde, an innovative leader in eco-conscious transportation, is poised to transform the snowmobile sector through the introduction of Alfa, a circular electric snowmobile. This pioneering vehicle represents a major advancement in the quest for greener, more sustainable snowmobiling adventures, signifying a remarkable achievement for the industry. Technological advancements in battery technology, electric motors, and power management systems have improved the efficiency, range & charging capabilities of electric snowmobiles.
 

Increasing investments in research and development in the power sports industry are proving lucrative for the snowmobile market. These investments drive innovation, leading to the development of technologies, enhanced performance features, and eco-friendly designs in snowmobiles. Such advancements attract consumers seeking recreational vehicles, spurring sales and market growth. Additionally, R&D investments contribute to the creation of more durable, efficient, and environmentally sustainable snowmobiles, aligning with evolving consumer preferences and regulatory standards, further bolstering the market's prospects.
 

Snowmobile Market Analysis

Based on propulsion, the market is divided into gasoline, diesel, and electric. The gasoline segment held over 60% of the market share in 2023. Gasoline-powered snowmobiles offer superior power & performance compared to their electric counterparts. These machines have robust engines, enabling them to travel through challenging terrains and handle heavy loads. They are favored by professional riders & enthusiasts who prioritize speed and acceleration in their snowmobiling experiences.
 

The existing infrastructure for gasoline-powered vehicles plays a significant role in segment growth. Gas stations are readily available in remote snowmobiling areas, thereby ensuring convenient refueling options for riders. This eliminates concerns about battery range limitations and charging infrastructure, which are a few challenges faced by the electric snowmobile segment.
 

Based on application, the market is categorized into utility, sports, recreation, and military. The recreation segment accounted for 38% of the snowmobile market share in 2023. The surge in investments aimed at enhancing travel and tourism is driving growth in the recreational segment. Increased funding supports the development of infrastructure, such as trails & facilities, improving accessibility and enhancing the overall snowmobiling experience for enthusiasts.
 

For instance, in November 2023, the Ontario government granted USD 76,823 to the Sunset Trail Riders Snowmobile Club via the Northern Ontario Heritage Fund Corporation (NOHFC). This allocation was intended to extend the snowmobiling season, fostering the expansion of travel and tourism in Northwestern Ontario. This investment also facilitates promotional activities, events, and guided tours, attracting more individuals to engage in recreational snowmobiling.
 

North America snowmobile market recorded around 75% of the revenue share in 2023. The burgeoning popularity of outdoor winter sports is driving significant growth in the North American market. As more individuals seek thrilling winter recreational activities, the demand for snowmobiles and other power sports vehicles surges. This trend not only fosters increased sales but also stimulates innovation among manufacturers, who are compelled to develop features and performance enhancements to meet consumer preferences. Consequently, the North America power sports market is experiencing notable expansion, propelled by the escalating interest in outdoor winter sports and activities.
 

Snowmobile Market Share

BRP and Polaris held over 50% of the snowmobile industry share in 2023. Polaris, known for its iconic brands such as Polaris and Indian Motorcycle, maintains a leading position through continuous product development such as the company’s 2024 product range is enhanced with over 250 fresh components, clothing items & accessories, offering a broader array of choices for customization and personalization.
 

BRP, known for its Ski-Doo and Lynx brands, stands out for its engineering and commitment to performance. With a focus on delivering premium snowmobiles equipped with features, BRP remains a formidable competitor, driving market growth through its innovative designs and customer-centric approach.
 

Snowmobile Market Companies

Major companies operating in the snowmobile industry are:

• Alpina Snowmobiles
• Arctic Cat
• Auburn Extreme Powersports
• Aurora Powertrains
• BRP
• Glende Polaris Yamaha
• Polaris
• RumbleOn
• Taiga Motors Inc.
• Tracks USA
• Yamaha
   

Snowmobile Industry News

• In March 2023, Polaris Inc. expanded its extensive range of snowmobiles and snow bikes by introducing new & improved rider-focused innovations and features. These advancements prioritize performance, control & agility, highlighted by the introduction of the Series 9 325 track and Timbersled's latest RIOT Gen 2 system.
   
• In February 2023, BRP Inc. expanded its comprehensive range of sled models for 2024. Ski-Doo extended the fifth generation of the REV platform across more models, incorporating numerous options with four-stroke power. The introduction of four-stroke power in the REV Gen 5 marks a significant development for the MXZ and the Renegade lines, leading to a redefined positioning in the broader Ski-Doo lineup.
   

The snowmobile market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) and shipment (Units) from 2018 to 2032, for the following segments:

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Market, By Propulsion Type

• Gasoline
• Diesel
• Electric

Market, By Application

• Utility
  • Gasoline
  • Diesel
  • Electric 
• Sports
  • Gasoline
  • Diesel
  • Electric
• Recreation
  • Gasoline
  • Diesel
  • Electric
• Military
  • Gasoline
  • Diesel
  • Electric

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • South Africa
  • UAE
  • Saudi Arabia
  • Rest of MEA