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Power Sports Aftermarket Size By Vehicles (All-Terrain Vehicles, Side-by-Side Vehicles, Snowmobiles, Heavyweight Motorcycles, Personal Watercrafts, By Sales Channel (Offline, Online), & Forecast, 2023-2032

  • Report ID: GMI4792
  • Published Date: Feb 2023
  • Report Format: PDF

Industry Statistics

Power Sports Aftermarket industry size surpassed USD 10 billion in 2022 and is projected to register 7% CAGR from 2023 to 2032, driven by the growing number of accidents from off-road biking activities and sports events.
 

Power Sports Aftermarket

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The rigorous racing activities and intense power sports make use of advanced motorsport engineering in order to prevent accidents and damages caused to vehicles. Furthermore, the growing incidences of vehicle recall due to safety concerns are offering lucrative business prospects to aftermarket players. According to the Consumer Federation of America (CFA), a total of 167 off-highway vehicle (OHV) recall notices have been identified from January 2010 to February 2023. These include all-terrain vehicles (ATVs), utility task vehicles (UTVs) and recreational off-highway vehicles (ROVs).
 

High initial investment requirements could restrain the market growth

Higher costs associated with the aftermarket manufacturing setup may restrict the growth of the power sports aftermarket. Manufacturers of aftermarket replacement parts and components for power sports vehicles need solid capital backing and hefty initial investments to set up facilities since production relies on high-end machinery. Next-generation manufacturing equipment is required to make bumpers, wheel bearings, tires, clutch plates, and multiple customized component parts, thus limiting industry growth. However, the advent of electric power sports vehicles and the growing emphasis on the reduction of carbon emissions is expected to spur innovation in the aftermarket space with the robust need for specialized batteries.
 

Rising offline sales of power sports parts in the aftermarket industry

Global Power Sports Aftermarket Share, By Sales Channel

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Offline sales channels captured 65% of the power sports aftermarket share in 2022 due to increasing customer preference to purchase larger items such as sports vehicles. The growing consumer inclination towards offline purchases can be accredited to the higher availability and accessibility to a wide range of services from product installation to repair and maintenance. Moreover, this sales channel offer customers free servicing, extended warranty, and discounts on additional accessories, thus contributing to the market expansion.
 

Increasing demand for heavyweight adventure motorcycles to augment market statistics

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The aftermarket for power sports surpassed USD 10 billion in 2022 and is expected to expand at 7% CAGR from 2023 to 2032, according to GMI report.

The industry size from heavyweight motorcycles is estimated to amass USD 7 billion by 2032 due to growing demand for adventure bikes.

The North America power sports aftermarket is poised to cross USD 10 billion by 2032 driven by the increasing interest in off-roading events, recreational activities and water sports.

Kubota Corporation, Deere & Company, Harley Davidson, LeMans Corporation, Polaris Inc., Textron Inc, and Western Power Sports are some of the key players operating in the competitive landscape.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 422
  • Countries covered: 16
  • Pages: 200
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