Power Sports Market Size By Vehicle (All-Terrain Vehicles, Side By Side Vehicles, Personal Watercrafts, Snowmobiles, Heavyweight Motorcycles), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Jan 2020  |  Report ID: GMI1688  |  Authors: Ankita Bhutani, Prasenjit Saha

Report Format: PDF   |   Pages: 176   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Power Sports Market size exceeded USD 30 billion in 2018 and is estimated to grow at over 6% CAGR between 2020 and 2026. Increasing number of off-road recreational activities across the globe will drive the market growth.
 

The rising construction of outdoor recreational facilities, such as theme parks, wilderness areas, and trails, will positively influence the market demand. Government support, policies, and public & private investments for the development of recreational infrastructure are creating high market demand.
 

Industry participants are making large investments in R&D activities to enhance efficiency and improve power sports vehicle performance by introducing innovative solutions. Increased vehicle efficiency along with reduced noise and higher power & torque outputs will drive the power sports market share. Furthermore, growing establishment of recreational clubs, particularly in North America and Europe, is encouraging participants for off-road leisure activities. These clubs and organizations are making investments in promotional activities, thus creating opportunities for the market.
 

Power Sports Market

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Growing popularity of off-road and recreational activities and consumer awareness in Asian countries are expected to drive the regional market size over the forecast period. However, high power sports vehicle costs and low investment capabilities in these countries limit the power sports market growth.
 

Several manufacturers are entering into developing countries by setting up manufacturing facilities for gaining maximum market share over their competitors and overcome the industry challenges. For instance, in September 2017, Polaris announced its plan to build & assemble motorcycles and ATVs in the Indian facility along with its joint venture company Eicher Motors Limited.
 

Power Sports Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 11 Billion (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 6% 2026 Value Projection: 50 Billion (USD)
Pages: 176 Tables, Charts & Figures: 174
Geographies covered (20): U.S., Canada, UK, Germany, France, Russia, Spain, China, India, Japan, South Korea, Thailand, Malaysia, Indonesia, Brazil, Mexico, Argentina, UAE, South Africa, Saudi Arabia
Segments covered: Vehicle
Companies covered (11): Arctic Cat, Inc., Bombardier Recreational Products, Honda Motor Co., Ltd., Harley Davidson, Deere & Company, Kawasaki Motors Corporation, Kubota Corporation, KYMCO, Polaris Inc., Suzuki Motor Corporation, Yamaha Motor Co., Ltd.
Growth Drivers:
  • Increasing participation and spending in off-road recreational activities
  • Proliferating off-road sports events
  • High R&D investments and product innovation
Pitfalls & Challenges:
  • Environmental impact and safety concerns

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Increasing power sports and off-road leisure activities create the ATV demand

ATV market by region

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All-terrain vehicles accounted for a market size of above USD 2 billion in 2019 driven by their high usage in recreational activities. The increasing number of ATV clubs and the development of outdoor parks are boosting power sports market revenue globally. Additionally, the organization of various recreational & racing competitions and high consumer participation in North America and Europe have further stimulated its popularity in recent years.
 

The proliferating number of training facilities offering proper driver training and ensuring passenger safety is a major industry development factor. Market leaders are working on the development and launch of electric ATV models to cater to the growing demand for ecofriendly power sports vehicles and reduce harmful emissions produced. For instance, in December 2019, Tesla demonstrated its new all-electric ATV available as an option with cybertruck.
 

The ability of ATVs to travel through all terrains along with their lesser carbon emission and easier maneuverability capabilities are supporting the changing power sports market trends. Lower maintenance costs, lower vehicle weight, and lesser age restriction for driving ATVs compared to other power sports vehicles will augment ATVs demand in the market. The advent of hybrid models including hybrid diesel will have positive impacts owing to their extremely fuel-efficient engines and minimal emissions.
 

Furthermore, the development of lightweight & efficient models for their implementation in military and defense sectors for effective combat supplies movement is projected to fuel the market size. Market players are also implementing new technologies and advanced automobile concepts to power sports vehicles to gain advancements similar to the automotive sector. For instance, in January 2019, Honda announced that it has developed an autonomous ATV concept, ‘Autonomous Work Vehicle’ which is capable of accessing hardly reachable work spots.
 

Growing investments for infrastructure development in North America

North America power sports market by country

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According to the research, North America power sports market is witnessing significant growth owing to presence of several established players including Polaris Industries, BRP Inc., Harley Davidson, and Kawasaki Motors. The region provides ample space & infrastructure for sports and recreation participants to indulge in off-road leisure activities. Companies operating in North American countries are investing huge amounts in R&D activities to cater to the increasing demand for electric & low fuel consuming power sports products.
 

Additionally, high government support and organizational policies for the development of robust off-road & recreational infrastructure add up to market insights. Governments of the U.S. and Canada are making investments in building new parks and off-road trails, thereby positively influencing market statistics.
 

Furthermore, development of the travel & tourism sector and rise in leisure sports activities across the U.S. are driving the power sports market expansion. The Middle East & Africa market is at its nascent stage and will grow with the prevailing tourism industry. The UAE and Saudi Arabia are witnessing steady growth in the recreational & off-road industry, creating a demand for ATVs and UTVs.
 

Technical advancements and power sports product electrification are major industry trends

The market is driven by the rapid development of electric power sports products and adoption of green product development policies by manufacturers. Rising consumer awareness, demand for eco-friendly vehicles, and government regulations in several countries are compelling manufacturers to develop greener powersports products.
 

Owing to introduction of stricter EPA regulations applied for motor engines, fuel consumption, and sound from bikes, manufacturers are working on the development of powerful and less polluting engines. The market trends include the development of green production & manufacturing practices due to transformation of conventional into electric powerplants. Such initiatives coupled with government support & policies for electrification of manufacturing facilities are adding up to green initiatives adopted by power sports market players.
 

For instance, in September 2019, Honda announced the purchase of virtual power purchase agreements for renewable solar and wind power. The use of these energy sources will result in 60% reduction of CO2 emissions and electricity usage in North America production activities.
 

The power sports market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2015 to 2026 for the following segments:

By Vehicle

  • All-Terrain Vehicles
  • Side By Side Vehicles
  • Personal Watercrafts
  • Snowmobiles
  • Heavyweight Motorcycles

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

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Russia
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Thailand
    • Malaysia
    • Indonesia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

 

Frequently Asked Questions (FAQ) :

The North America market will witness significant growth owing to presence of several established players including Polaris Industries, BRP Inc., Harley Davidson, and Kawasaki Motors.
All-terrain vehicles account for a power sports industry size of above USD 2 billion in 2019 driven by their high usage in recreational activities.
Key players operating in the market are Honda Motor, Polaris Industries Inc., Kawasaki Motors Corporation, BRP Inc., Kubota Corporation, KYMCO, Yamaha Motor, Suzuki Motor Corporation, Arctic Cat Inc., and Deere & Company.

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Premium Report Details

  • Published Date: Jan 2020
  • Pages: 176
  • Tables: 147
  • Charts / Figures: 27
  • Companies covered: 11
  • Countries covered: 20

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