Snow or Golf Motor Vehicle Market

The article discusses the upward consumption trend in the global market for motor vehicles for travelling on snow or golf cars, with forecasts indicating a CAGR of +1.6% in volume and +3.7% in value from 2022 to 2030. The market value is predicted to reach $7.4B by 2030. Key points include the growth in consumption, production, imports, and exports, with China dominating in both production and export volumes. The United States leads in market value and import volumes. Prices vary by country, with Canada having the highest export price per unit.

Market Forecast

Driven by increasing demand for motor vehicles for travelling on snow or golf cars worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 1.5M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market value to $7.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Motor Vehicles For Travelling On Snow Or Golf Cars

In 2022, consumption of motor vehicles for travelling on snow or golf cars was finally on the rise to reach 1.4M units for the first time since 2019, thus ending a two-year declining trend. In general, consumption showed a relatively flat trend pattern. Over the period under review, global consumption reached the maximum volume at 1.9M units in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

The value of the market for motor vehicles for travelling on snow or golf cars worldwide skyrocketed to $5.5B in 2022, jumping by 41% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs at $6.4B in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (469K units), the United States (344K units) and the UK (83K units), together comprising 66% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by the United States (with a CAGR of +62.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($2.4B) led the market, alone. The second position in the ranking was held by China ($944M). It was followed by Mexico.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +62.0%. In the other countries, the average annual rates were as follows: China (-6.5% per year) and Mexico (+10.5% per year).

The countries with the highest levels of snow or golf motor vehicle per capita consumption in 2022 were the UK (1,231 units per million persons), the United States (1,026 units per million persons) and Canada (857 units per million persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by the United States (with a CAGR of +61.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Motor Vehicles For Travelling On Snow Or Golf Cars

In 2022, production of motor vehicles for travelling on snow or golf cars increased by less than 0.1% to 1.8M units, rising for the sixth year in a row after two years of decline. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 1.6%. Over the period under review, global production reached the maximum volume in 2022 and is likely to see steady growth in years to come.

In value terms, snow or golf motor vehicle production totaled $4.5B in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by 26% against the previous year. Global production peaked at $5.7B in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Production By Country

China (1.5M units) constituted the country with the largest volume of snow or golf motor vehicle production, accounting for 85% of total volume. Moreover, snow or golf motor vehicle production in China exceeded the figures recorded by the second-largest producer, the United States (57K units), more than tenfold. Kenya (44K units) ranked third in terms of total production with a 2.5% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: the United States (+0.5% per year) and Kenya (+1.9% per year).

Imports

World Imports of Motor Vehicles For Travelling On Snow Or Golf Cars

Global snow or golf motor vehicle imports soared to 882K units in 2022, picking up by 20% against the previous year's figure. In general, imports recorded strong growth. The pace of growth appeared the most rapid in 2017 with an increase of 55% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, snow or golf motor vehicle imports skyrocketed to $4.2B in 2022. Over the period under review, imports showed a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 62%. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports By Country

The United States represented the largest importer of motor vehicles for travelling on snow or golf cars in the world, with the volume of imports finishing at 376K units, which was near 43% of total imports in 2022. The UK (93K units) took the second position in the ranking, followed by Canada (67K units), Germany (44K units), Russia (42K units) and the Netherlands (40K units). All these countries together held approx. 32% share of total imports. The following importers - Thailand (21K units), Sweden (17K units) and Spain (16K units) - each accounted for a 6.1% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to snow or golf motor vehicle imports into the United States stood at +18.3%. At the same time, Thailand (+23.7%), Spain (+19.4%), Germany (+18.1%), Sweden (+6.3%), the Netherlands (+4.2%), the UK (+3.9%) and Canada (+2.7%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in the world, with a CAGR of +23.7% from 2012-2022. By contrast, Russia (-3.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States, Germany and Thailand increased by +27, +3.1 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($2.5B) constitutes the largest market for imported motor vehicles for travelling on snow or golf cars worldwide, comprising 60% of global imports. The second position in the ranking was taken by Canada ($466M), with an 11% share of global imports. It was followed by Sweden, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +17.5%. In the other countries, the average annual rates were as follows: Canada (+1.8% per year) and Sweden (+6.7% per year).

Import Prices By Country

The average import price for motor vehicles for travelling on snow or golf cars stood at $4,786 per unit in 2022, rising by 13% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. Global import price peaked at $4,846 per unit in 2018; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sweden ($8,012 per unit), while the UK ($920 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Motor Vehicles For Travelling On Snow Or Golf Cars

After two years of growth, overseas shipments of motor vehicles for travelling on snow or golf cars decreased by -19.9% to 1.3M units in 2022. Overall, exports, however, recorded a temperate expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 121% against the previous year. The global exports peaked at 1.6M units in 2021, and then fell markedly in the following year.

In value terms, snow or golf motor vehicle exports surged to $3.8B in 2022. Over the period under review, exports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2021 when exports increased by 60%. Over the period under review, the global exports reached the peak figure in 2022 and are likely to continue growth in years to come.

Exports By Country

China dominates exports structure, accounting for 1M units, which was approx. 80% of total exports in 2022. It was distantly followed by the United States (90K units), making up a 6.9% share of total exports. Canada (33K units), Finland (28K units), Taiwan (Chinese) (26K units) and the Netherlands (21K units) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to snow or golf motor vehicle exports from China stood at +7.0%. At the same time, the Netherlands (+16.3%), Canada (+3.3%) and Finland (+2.9%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +16.3% from 2012-2022. By contrast, the United States (-3.0%) and Taiwan (Chinese) (-6.9%) illustrated a downward trend over the same period. While the share of China (+18 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Taiwan (Chinese) (-4.1 p.p.) and the United States (-7.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.2B) remains the largest snow or golf motor vehicle supplier worldwide, comprising 58% of global exports. The second position in the ranking was held by the United States ($619M), with a 16% share of global exports. It was followed by Canada, with a 9.7% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +16.5%. The remaining exporting countries recorded the following average annual rates of exports growth: the United States (-0.0% per year) and Canada (+6.9% per year).

Export Prices By Country

In 2022, the average export price for motor vehicles for travelling on snow or golf cars amounted to $2,924 per unit, rising by 48% against the previous year. Over the period under review, the export price recorded slight growth. The pace of growth was the most pronounced in 2015 an increase of 64% against the previous year. Over the period under review, the average export prices attained the maximum at $5,334 per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($11,022 per unit), while Taiwan (Chinese) ($1,010 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform