Stratview Research has recently published a report on Composites Market in the Snowmobile Industry segmented by Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027. The objective of the market experts at Stratview Research is to conduct a thorough analysis of ‘Composites Market in the Snowmobile Industry’ and put detailed knowledge about the industry and business attractiveness, revenue, market size, segmentation, growth, and restraining factors so that the user gets in-depth information about the industry and the business from a past, current and a future perspective and can potentially invest capital for further growth.
Market Insights
The composites market in the snowmobile industry is likely to witness a CAGR of 4.0% during the forecast period. Increasing demand for composites from major snowmobile manufacturers is expected to drive the growth of the market. In addition, the surge in demand for personal snowmobiles and increasing tourism are expected to fuel the growth of the market during the forecast period.
Segment-wise analysis
The report encompasses in-depth segmentations like regional segmentation, segmentation by product types, application-wise segmentation, geographical segmentation and thereby gives the user an overview of the effectiveness of the segmentation by various classes.
Based on the manufacturing process type, the market is segmented as sheet molding compound process and others. The sheet molding compound process is expected to remain dominant for composite part fabrication in the snowmobile industry during the forecast period. Glass fiber is widely used in most composite applications in the snowmobile industry. Furthermore, the sheet molding compound process is credited with exceptional properties such as good surface appearance and outstanding mechanical properties. This is expected to fuel the segment's growth over the forecast period.
In terms of regions, North America is estimated to be the leading region in the market owing to the high demand for watersports equipment in the USA and Canada. Furthermore, the well-developed tourism industry in North America is expected to drive market growth over the forecast period. Also, Europe and Asia-Pacific are expected to offer substantial growth opportunities during the forecast period.
Key Players in the Composites Market in the Snowmobile Industry
- Arctic Cat
- BRP Inc.
- Creative Composites
- Polaris
- Yamaha Motor Co., Ltd.
- PM Composites.
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