Global Powersports Market Size worth $14.5bn by 2025

Powersports Market size is set to cross USD 14.5 billion by 2025; according to a new research report by Global Market Insights, Inc.
 

Rising recreational spending along with the availability of multiple off-road trails are expanding the powersports market share over the study timeframe. The rising inclination of youth towards off-roading events and sports coupled with the rising investments by industry players to offer powersports vehicles at varied price range further expands the industry share.


 

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Manufacturers are focusing on differentiating their offerings in line with the consumer requirements for distinct applications. Industry participants are engaged in building and introducing hybrid models of ATV to minimize pollution levels and offer high-performance products, adhering to stringent rules and regulations. Moreover, their offerings also include an array of accessories such as cabs, bumpers, lights, luggage racks, backrests, snowplows, wheels, windshields, winch kits, and track systems.


Powersports Market

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Industry participants are continuously engaged in forming strategic contracts and agreements for collaboratively developing their powersports technologies along with increasing their powersports market revenue. For instance, In February 2013, Arctic Cat entered into an agreement with Yamaha for supplying their 4-srtoke engines. Moreover, in 2014, the company received the 135 HP 4-stroke engine for integration in the snowmobiles.
 

The manufacturers are also emphasizing on advanced technologies and equipment for making their vehicles in-line with the customer demand. The proliferation of four-wheel drive systems along with the availability for part-time and all-wheel drive technologies are enabling users to switch their vehicle modes based on their requirements. These also enable for efficient vehicle performance along with maintaining a balance between vehicle power and efficiency.
 

Browse key industry insights spread across 200 pages with 205 market data tables & 11 figures & charts from the report, “Powersports Market Size By Vehicle (All Terrain Vehicles, Side by Side Vehicles, Personal Watercrafts, Snowmobiles, Heavyweight Motorcycles), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Russia, Spain, China, Japan, India, Thailand, Malaysia, Indonesia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/power-sports-market
 

The effect of driving such vehicles may impact the environment negatively along with negating the vegetation growth. As per the U.S. department of Transportation, the vehicles cause loss of original ground cover by around 60%. This is encouraging the regulatory bodies to lay stringent regulations and limitation associated with driving such vehicles across certain terrains, thereby hampering the market share expansion.
 

All-terrain vehicles will account for the majority share in the powersports market. This can be attributed to the increasing demand for such vehicles owing to lower cost and the availability of multiple models based on power and torque output. The rising preference of youth to opt for youth ATVs coupled with the availability of multiple AT trails globally are further expanding the segment size.
 

The side by side vehicles will showcase significant growth in the market size over the projected timeframe. This can be credited to the availability of multiple safety features in such vehicles including roll cage, windshield, and multiple seating configuration. Industry players are focusing on launching new models for expanding their market share. For instance, in June 2018, Polaris launched its 2019 upgraded lineup of side by sides with improved power and safety features.
 

Europe will grow considerably in the powersports market share. This can be credited to the presence of multiple off-road trials across the region. Few of the major trails include Château Lastours, Lake District National Park, Bassella, and Etna among others. The prevalence for snow in multiple countries across the region are playing a major role in driving the demand for snowmobiles, thereby expanding the regional share.
 

Few of the major players operating in the market include Polaris Industries, BRP, Harley Davidson, Suzuki, and Honda among others. Industry players re engaged in mergers and acquisitions for streamlining their business operations. For instance, in September 2018, Polaris announced a merger agreement with WSI Industries. This strategy will enable the company to improve its manufacturing capabilities along with developing in-house precision machining techniques.
 

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The powersports market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in units and revenue in USD million from 2013 to 2025, for the following segments:

By Vehicle

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

The above information is provided on a regional and country basis for the following:

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

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