DUBLIN--(BUSINESS WIRE)--The "Snow Blower Market in North America - Industry Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The North America snow blower market is likely to reach more than $804 million by 2024, growing at a CAGR of around 6% during 2018-2024.
The study considers the present scenario of the North America snow blower market and its market dynamics for the period 2019-2024. The report covers a detailed overview of several market growth enablers, restraints, and trends. It covers both the demand and supply aspect of the market. It profiles and examines leading and prominent companies operating in the North America snow blower market.
Key Market Insights
- Offers market sizing and growth prospects of the North America snow blower market for the forecast period 2019-2024
- Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the North America snow blower market
- Includes a detailed analysis of market growth drivers, challenges, and investment opportunities
- Delivers a complete overview of market segments and the regional outlook of North America snow blower market
- Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the North America market
The North America snow blower market is growing at a significant rate. Increasing technological innovations, preferences toward eco-friendly products, and increased marketing and promotional activities are prominent factors contributing to the growth of the North America snow blower market.
New-generation snow blowers are packed with advanced technologies such as power steering, folding handles, LED headlights, heated handle grips, and drift cutters. With the inclusion of these features, the level of comfort and ease in performing clearing tasks has increased, thereby driving the demand for snow blowers.
Manufacturers are emphasizing on introducing lighter, stronger, and durable products in the North America snow blower market. For instance, Husqvarna introduced a blower with a power steering and a hydrostatic transmission, which can withstand harsh weather conditions.
The market research report includes a detailed segmentation of the market by stage type, end-user, fuel type, clearing width, and country.
Two-stage snow blowers are expected to account for the majority share in the market during the forecast period. Further, vendors are trying to introduce equipment with reduced emissions and increased fuel economy to decrease carbon footprint. The single-stage segment is growing significantly in the North America snow blower market. Husqvarna and Toro have introduced snow blowers with multiple sound features.
The residential segment is leading in the North America snow blower market. As electric snow blowers are lightweight and easy to handle, they enjoy high popularity in the residential segment. Manufacturers are focusing on implementing user-friendly features, thereby increasing sustainability. Hence, the shifting preference of consumers toward eco-friendly products is one of the factors that is expected to bolster product growth among residential customers. Gas-powered snow blowers are witnessing high demand from the commercial segment.
The demand for gas-powered blowers is dominant in the North America snow blower market. However, electric-powered snow throwers are expected to witness traction in the North America snow blower market in coming years. Compactness and low noise production features have contributed to their increased sale.
The above 25-50 inches segment captures more than half of the North America snow blower market. Above 25-50 inches blowers are primarily used to clear snow up to 18 inches from roads and footpaths. The below 25 inches segment, on the other hand, is growing at a fast rate in North America. Further, with the advent of technology, vendors are focusing on the unparalleled production of several advanced types of snow throwers, which is expected to generate revenue in the coming years.
Market Growth Enablers
- Increasing Snowfall in North America
- Increasing Marketing and Promotional Activities
- Increasing Railway Track Length & Roadway Infrastructure
Market Growth Restraints
- Environmental Impacts of Snow Blowers
- Seasonality and Storage Issues
Growth Opportunities & Trends
- Shifting Preferences Toward Eco-friendly Products
- Increasing Technological Innovations
- Stringent Safety Regulations
In 2018, the US and Canada were the largest end-users of in the North America snow blower market. The US is expected to contribute maximum revenue to the market. Light-duty electric snow throwers are considered the most viable option for consumers living in small suburban spaces. Increasing technological advancements and product expansions are driving the Canadian market. The increased focus on reliability and effectiveness of power tools has significantly contributed to the increased sale in the region.
Key Vendor Analysis
The North America snow blower market has a high degree of concentration with leading players accounting for most of the market share. Major players emphasize the adoption of energy-efficient products due to the increasing trend of eco-friendly products. Increasing diversification among consumer purchases is expected to witness surging demand over the forecast period.
The introduction of differentiated products and solutions for different application segments is a key strategy implemented by market players. Further, the growing trend of efficient utilization of the capital is likely to gain significance in the coming years. Manufacturers are focusing on reliability and quality, product innovation, product support, pricing, warranty, distribution, and financing options to increase competitiveness in the market.
- Husqvarna Group
- MTD Products
- The Toro Company
- Alamo Group
- American Honda Motor
- Briggs & Stratton Corporation
- Ego Power
- Globe Tools Group
- Lowe's Corporation
- Snow Joe
- Techtronic Industries Limited (TTI)
- Vicon Group
- Walker manufacturing
- Wen Products
For more information about this report visit https://www.researchandmarkets.com/r/y8ahmd