Power Sports Market Analysis

Power Sports Market Analysis

In terms of vehicle, the heavyweight motorcycles segment held over 59% of the revenue share in 2022 as a result of their mounting uptake in several sporting and cruising events. Motorcycle racing competitions are organized in different regions by industry associations and market participants, including KTM, Ducati, and Honda, which helps increase bike sales.
 

Electric power sports market size is expected to witness nearly 16% growth rate between 2023 and 2032. The continued development of electric power sports vehicles is responsible for segment growth. These models incorporate electric motors that provide the vehicle's engine with rapid torque and power. Growing public knowledge of the negative effects of toxic vehicle emissions is motivating the American population to invest in electric power sports models, which is foreseen to facilitate segment development.
 

North America power sports market valuation was recorded at around USD 34 billion in 2022. The rising demand for power sports vehicles as a result of the increased participation in leisure activities compared to other regions is propelling the industry dynamics at a rapid pace. The substantial presence of established industry players and the introduction of technologically improved items in the U.S.