Powersports Market Eyeing Remarkable Growth at a healthy 5.65% CAGR | Market Research Future (MRFR)

Key Companies Profiled include Honda Motor Co., Ltd, Textron Inc., Polaris Industries, Inc., BRP, and Yamaha Motor Co., Ltd, among others.


Pune, Feb. 12, 2021 (GLOBE NEWSWIRE) -- Power Sports Market Analysis / Power Sports Market Trends 

The global powersports industry is highly lucrative and predicted to witness significant growth at a healthy 5.65% CAGR over the forecast period (2019- 2025), reveals the Market Research Future (MRFR) report. Power sports have gained enough traction as a popular type of entertainment both to participate in and watch. Simply put, power sports are any form of activities that are facilitated primarily by equipment with engines. This entails some water sports, ATVs, snowmobiles, dirt bikes, and various additional assets. 

Attractive Features that Propel Market Growth 

As per the MRFR report, there are numerous factors that are propelling the power sports market size. These include an increase in the ATV experience zones, growing use in adventure tourism, the introduction of hybrid models, rising establishment of recreational clubs, increased vehicle efficiency, huge investments in R&D to augment efficiency as well as improve the performance of such cars through higher outputs and torque, reduced noise, and innovative solutions. The additional factors adding to the global power sports market revenue include the public and private investments to create recreational infrastructure, government support and favorable policies, rise in the construction of outdoor recreational facilities such as theme parks, trails, and wilderness areas, growth in off-road recreational activities, rising investments in power sports products, growing demand for boat replacement, growing urban population, rising consumer spending, and constant global economic development. 

Get Free Sample PDF Brochure


On the flip side, rising illegal and unmanaged use of cars, increasing boomer age, alteration of soil structure, unfavorable weather conditions, adverse effect on the environment, and fluctuating components and product prices may have a negative effect on the global power sports market outlook over the forecast period. 

COVID-19 Analysis 

The ongoing COVID-19 pandemic had a negative impact on the worldwide supply chains, market dynamics, and competition. There has been a reduction in revenue owing to a sharp fall in the power sports sales. Besides, lack of production for new units in particular coupled with the flow of vehicles in the remarketing channels is running under the normal level. Health and safety concerns, and lockdowns & physical distancing imposed by the government have slowed down the new units’ intake in the process of remarketing. Also, companies that have optimized their operation along with strategy are likely to sustain well and also beat the competition. 

Market Segmentation 

The Market Research Future report offers an inclusive analysis of the power sports market based on application, type, and model. 

By type, the market has been bifurcated based on side-by-side, all-terrain, watercrafts, snowmobiles, and heavyweight motorcycles. Among these, the segment of heavyweight motorcycles will dominate the market during the forecast period. It will grow at a healthy 4.59% CAGR by 2025. 

By application, the market has been bifurcated based on on-road, off-road, and snow. Among these, the segment of off-road will lead the market during the forecast period. It will grow at a stellar 5.41% CAGR by 2025. 

By model, the market has been bifurcated into sit-down & stand-up. Among these, the sit-down segment will have the lions share in the market during the forecast period. It will grow at a favorable 5.63% CAGR by 2025. 

Browse In-depth Market Research Report (188 pages) on Powersports Market


Regional Segmentation 

North America to Steer Power Sports Market 
Geographically, the power sports market has been bifurcated into Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). North America, among these, will steer the market during the forecast period. Increasing establishment of recreational clubs, growing expenditure by consumers on sports and recreational activities, and favorable weather conditions are favoring the power sports market value in the region. The United States and Canada have the utmost share in the market. 

Europe to Grab Second-Largest Share in Power Sports Market 

In Europe, the power sports market is predicted to grab the second-largest share during the forecast period. A rising young population, rising interest in sports competitors, growing utility activities, high employment rate, rise in consumer’s purchasing power, adoption in new technologies, increasing use in military and defense activities, recreational, and construction, off-road organizations and powersports organizations working to develop suitable trails to support the product’s high consumption, and companies complying with strict manufacturing regulations and product-related regulations due to concerns for the environment and low carbon emission initiatives. Additional factors adding to the power sports market growth include the established players expanding reach through distribution channels & partnerships with financing companies, increasing recreational activities, favorable weather conditions, and surging need for snowmobiles, personal watercrafts, and UTVs. 

APAC to Have Favorable Growth in Power Sports Market 

In the APAC region, the power sports market is predicted to have favorable growth over the forecast period. Increase in people’s spending capacity, growing demand for power sports, rise in population, growing investments in R&D activities, high demand for ATVs, motorcycles, and side by side vehicles, increased consumer awareness, expansion of manufacturer subsidies, and lower product prices for the availability of low tax options and low manufacturing costs are adding to the global power sports market share in the region. 

Share your Queries 


Competitive Landscape 

The prominent players profiled in the global power sports market report include Honda Motor Co., Ltd, Textron Inc., Polaris Industries, Inc., BRP, and Yamaha Motor Co., Ltd, among others. Partnerships, M&A, strategic alliances, contracts, and others are the key strategies adopted by key players to stay ahead in the competition. 

Industry News 

  • December 2020- CEO of Volcon will soon introduce off-road electric cars in Liberty Hill. Their new factory will have the capacity to produce some 9,000 cars per year. 
  • December 2020- Sports aficionado, Dave Sears, has introduced his latest website with an aim to inspire people to enter the fast-paced as well as the exciting power sports world. He is adept in all things power sports. This website has been designed keeping in mind to throw light on the several perks of participating in power sports.

Discover More Research Reports on
Off Road Vehicles, Lcv, Hcv Industry, By Market Research Future

Browse Related Reports:

Global High-Performance Trucks Market Report Information, By Transmission Type (Automatic, Manual And Semi-Automatic), Vehicle Type (Conventional Pickups, Crew Cab, Sports Trucks, Long-Haul Trucks And Others),  Application (Dumping, Distribution, Refrigeration, Container, Tanker And Others),  Engine (Gasoline, Diesel And Others) And By Region - Forecast To 2023

Global Off-Road High-Performance Vehicle Market Information: by Channel (OEM and Aftermarket), Application (Defense & Recreation) and by Regions - Global Forecast To 2023

Global Dump Truck Market Research Report: By Type (Rear, Side, Roll-Off), By Propulsion (ICE, Electric), By Capacity (Below 25 MT, 25–50 MT, 50–150 MT, Above 150 MT) and By Application (Mining, Construction, Agriculture & Forestry, Others) – Forecast to 2025

Global Emergency Ambulance Vehicle Market Research Report: Information, by Vehicle Type (Vans, Cars, Motorcycles and others), Application (Hospitals, Emergency Center and others) and Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2025

Global Garbage Collection Vehicle Market Research Report: Information by Loader Type (Front, Rear, Automated Side Loader and others), by Technology (Manual and Semi-Automatic), by Vehicle Type (Light and Heavy Duty), by Propulsion (ICE and Electric), by Application (Residential and Non-Residential) and by Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2025

Global Light Commercial Vehicles Market Research Report: Information by Type (Trucks, Vans, Buses, Coaches, and Others), by Fuel Type (Diesel, Gasoline, and Electric), and by Region (North America, Europe, Asia-Pacific, and the RoW) - Forecast till 2025

Global Recreational Vehicle Market Research Report: Information by Product Type (Fifth Wheel Campers, Folding Camper, Truck Campers, Travel Trailers, Class A Motorhomes, Class B Motorhomes, Class C Motorhomes), by Application (Leisure, Business) - Forecast till 2025

Fire Truck Market Research Report: Information by Type (Rescue Truck, Tanker, Pumper, and Multi-Tasking Truck), Application (Residential and Non-Residential), and Region - Global Forecast till 2023

Global Agricultural Tractors Market Research Report: Information By Engine Power (Below 40 HP, 40 HP–120 HP, 121 HP–180 HP, 181 HP–250 HP and More Than 250 HP), By Application (Harvesting, Seed Sowing, Irrigation and others), By Type (ICE and Electric), By Operation (Manual Tractor Vehicle and Autonomous Tractor Vehicle), By Driver Type (2-Wheel Drive and 4-Wheel Drive) and Region - Forecast till 2026

Global Utility Terrain Vehicle (UTV) Market Research Report: Information by Product Type (Displacement (CC): ≤ 400CC, Displacement (CC): 400-800 CC and Displacement (CC): ≥ 800 CC), Application (Work UTV, Sport UTV, Others) and Region - Forecast till 2023

Automotive Off-Highway Engine Market Research Report: Information by Power Output (30-100 HP, 100-400 HP, Above 400 HP), by Engine Capacity (<5 Liter, 5.1-10 Liter, >10 Liter), by Fuel Type (Diesel, Gasoline & Others) and by Region - Forecast till 2023

Global All-Terrain Vehicle Market by Vehicle Type (Sports Utility, Utility, Recreational, Sports, Touring, Others), Displacement (Low, Mid, High), Application (Sports, Entertainment, Agriculture, Military, Hunting, Others), and Region - Forecast till 2023

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Follow Us: LinkedIn | Twitter


Contact Data