Online Powersports Market Size By Vehicle (All-Terrain Vehicle, Side By Side Vehicle, Personal Watercraft, Snowmobile, Heavyweight Motorcycle), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Jun 2020  |  Report ID: GMI4754  |  Authors: Preeti Wadhwani, Prasenjit Saha

Report Format: PDF   |   Pages: 85   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Online Powersports Market size crossed USD 5 billion in 2019 and is estimated to grow at a CAGR of over 4.5% between 2020 and 2026. Growing number of off-road and water sports events across the globe is attracting large participation from the youth, promoting the market demand. Additionally, rapidly growing infrastructure, such as theme parks and wilderness trails, for outdoor sports and adventure activities is augmenting the market growth.
 

Online Powersports Market

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The market trend of leveraging e-commerce platforms for business expansion is fueling the proliferation of online powersports equipment. According to the U.S. Census Bureau, the e-commerce sector recorded sales of USD 160.3 billion and industry growth in the first quarter of 2020. Increasing shift of power sports equipment retailers and distributors toward websites and e-commerce platforms to sell their products is driving the market growth of online powersports equipment. Enhanced customer engagement offered by websites and social media platforms is serving as one of the major market factors supporting the adoption of online powersports vehicles.
 

Rising concerns related to vehicular emissions from off-road and marine power sports equipment may hamper the market growth. High amounts of air pollutants including hydrocarbons, nitrogen oxides, and carbon monoxide emitted by heavy weight motorcycles are posing challenges to the industry. Toxic pollutants released by jet skis and other watersports vehicles pose a threat to the marine life, impacting the proliferation of online powersports equipment. However, market players are emphasizing on R&D activities to reduce emission levels from these vehicles and comply with government regulations.
 

The online powersports market is anticipated to register a steady growth due to the large-scale impact of COVID-19 pandemic across the globe. The tourism industry has been severely affected due to government-enforced lockdowns and social distancing measures. The risk of being infected by the virus is encouraging people to stay indoors. Trade restrictions due to sealing of international borders have led to raw material and labor shortages, impacting the production capabilities of online powersports equipment manufacturers.
 

Online Powersports Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 5 Billion (2019)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 4.5% 2026 Value Projection: USD 6 Billion (2026)
Pages: 85 Tables, Charts & Figures: 63
Geographies covered (10): U.S., Canada, UK, Germany, France, Russia, China, India, Japan, South Korea
Segments covered: Vehicle
Companies covered (10): Arctic Cat, Inc., Bombardier Recreational Products, Cycle Works Motorsports Harley Davidson, Honda Motor Co., Ltd., Kawasaki, Louis Powersports, Polaris Inc., RIDENOW POWERSPORTS, Yamaha Motor Co. Ltd.
Growth Drivers:
  • Increasing usage of off-road vehicles across various industry verticals
  • Rise in the usage of online platforms related to power sports purchases
Pitfalls & Challenges:
  • High cost of power sports vehicles
  • Stringent regulations related to the usage

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Proliferation of sports & adventure activities driving the market revenue

Global Online ATV Market

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The ATV segment held around 15% market share in 2019 and is expected to reach USD 1 billion revenue by 2026. Growing number of racing competitions and trends will augment the demand for these vehicles. The heavy promotion of ATV racing events through clubs and associations on social media platforms will further proliferate the adoption of ATVs in the market.
 

Easy maneuverability provided by ATVs is contributing to their market demand in several adventure activities. Benefits provided by these online powersports vehicles such as low weight, robust construction, and moderate driving age restrictions will further augment the ATV segment size through 2026. Additionally, growing number of training centers to provide complete driver training and enhanced safety will propel the market.
 

In response to stringent emission regulations and market trends, online powersports equipment manufacturers are launching electric variants of ATVs in the market. For instance, in November 2019, Tesla announced its plans to launch its electric ATV by 2021. The ‘Tesla Cyberquad’ is a two-seater vehicle, which can be effortlessly charged at residential or commercial charging stations. This new launch will aid the company to enter the powersports market.
 

Increasing investments in recreational infrastructure in North America

North America Online Power Sports Market By Countries

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The North America online powersports market size was over USD 2.5 billion in 2019 and is anticipated to exceed a revenue of USD 3.5 billion by 2026. The trend of investing in the development of recreational infrastructure is spurring the market growth in North America. In addition, favorable policies and increasing government spending on recreational infrastructure are further boosting the regional market demand.
 

Increasing private sector investments in the development of new theme parks and watersports activities are providing a positive outlook for the market. The region is surrounded by long coastlines and ample waterbodies, providing robust growth opportunities for watersports. To cater to the high demand for online powersports products, market leaders are launching new models of personal watercrafts.
 

Acquisitions and partnerships are key strategies adopted by the market players

The market players are adopting acquisition strategies for the expansion of their business operations in new segments. For instance, in October 2018, Rollick, which provides powersports buying platform announced the acquisition of Avala Marketing Group. This acquisition will aid the company to offer better dealership connectivity to its consumers. It will also aid the company to expand its customer base.
 

The online powersports companies are also focusing on establishing partnerships with market leaders to enhance their product portfolios and business growth. For instance, in January 2019, Textron, Inc. partnered with Great Outdoors Group to manufacture off-road ATVs. This partnership aided Textron to enter the ATV market segment.
 

Key players operating in the market include Arctic Cat, Inc., Honda Motor Co. Ltd, Bombardier Recreational Products, Harley Davidson, Textron, Inc., Deere & Company, Polaris, Inc., Kawasaki Motors Corporation, Suzuki Motor Corporation, Kubota Corporation, KYMCO, The Great Outdoors Group, and Yamaha Motor Co., Ltd.
 

The online powersports market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2026 for the following segments:
 

Market by Vehicle

  • All-Terrain Vehicle
  • Side -by- Side Vehicle
  • Personal Watercraft
  • Snowmobile
  • Heavyweight Motorcycle

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
  • Middle East & Africa
     

Frequently Asked Questions (FAQ) :

The market size of online powersports was crossed USD 5 billion in 2019.
The industry share of online powersports is estimated to grow at a CAGR of over 4.5% between 2020 and 2026.
The North America industry size was over USD 2.5 billion in 2019 and is anticipated to exceed a revenue of USD 3.5 billion by 2026.
According to the analysts at GMI, ATV segment held around 15% market share in 2019 and is expected to reach USD 1 billion in revenue by 2026.
Key players operating in the market include Arctic Cat, Inc., Honda Motor Co. Ltd, Bombardier Recreational Products, Harley Davidson, Textron, Inc., Deere & Company, Polaris, Inc., Kawasaki Motors Corporation, Suzuki Motor Corporation, Kubota Corporation, KYMCO, The Great Outdoors Group, and Yamaha Motor Co., Ltd.

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Premium Report Details

  • Published Date: Jun 2020
  • Pages: 85
  • Tables: 48
  • Charts / Figures: 15
  • Companies covered: 10
  • Countries covered: 10

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