Northern America: Snow Motor Vehicle Market 2023

Snow Motor Vehicle Market Size in Northern America

For the tenth year in a row, the North American snow motor vehicle market recorded growth in sales value, which increased by 44% to $X in 2021. Overall, consumption enjoyed a significant expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Snow Motor Vehicle Production in Northern America

In value terms, snow motor vehicle production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 19%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Snow Motor Vehicle Exports

Exports in Northern America

In 2021, shipments abroad of motor vehicles for travelling on snow or golf cars increased by 11% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a noticeable shrinkage. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, snow motor vehicle exports surged to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The United States was the key exporting country with an export of around X units, which accounted for 76% of total exports. It was distantly followed by Canada (X units), making up a 24% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to snow motor vehicle exports from the United States stood at -3.8%. At the same time, Canada (+1.2%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +1.2% from 2012-2021. Canada (+7.4 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -7.4% from 2012 to 2021, respectively.

In value terms, the United States ($X) and Canada ($X) were the countries with the highest levels of exports in 2021.

Canada, with a CAGR of +4.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per unit, picking up by 8.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2014 an increase of 12% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Canada ($X per unit), while the United States totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+3.0%).

Snow Motor Vehicle Imports

Imports in Northern America

In 2021, supplies from abroad of motor vehicles for travelling on snow or golf cars increased by 51% to X units, rising for the fifth year in a row after three years of decline. Overall, imports showed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, snow motor vehicle imports surged to $X in 2021. Over the period under review, imports posted a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States represented the largest importer of motor vehicles for travelling on snow or golf cars in Northern America, with the volume of imports accounting for X units, which was approx. 84% of total imports in 2021. It was distantly followed by Canada (X units), making up a 16% share of total imports.

The United States was also the fastest-growing in terms of the motor vehicles for travelling on snow or golf cars imports, with a CAGR of +16.1% from 2012 to 2021. Canada experienced a relatively flat trend pattern. While the share of the United States (+27 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Canada (-26.7 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported motor vehicles for travelling on snow or golf cars in Northern America, comprising 84% of total imports. The second position in the ranking was held by Canada ($X), with a 16% share of total imports.

In the United States, snow motor vehicle imports increased at an average annual rate of +14.4% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per unit, with a decrease of -9% against the previous year. Overall, the import price saw a mild decrease. The most prominent rate of growth was recorded in 2015 an increase of 7.5% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Canada ($X per unit), while the United States amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-1.5%).

Source: IndexBox Market Intelligence Platform

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