Dublin, Aug. 10, 2020 (GLOBE NEWSWIRE) -- The "Global Power Sports Market (ATV, SSV, Snowmobiles, Motorcycles & PWC): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.
The global power sports market is forecasted to reach US$13.87 billion in 2024, growing at a CAGR of 6.21% for the period spanning 2020-2024. The factors such as growing high net worth population and wealth, increasing new powerboat sales, improving consumer confidence index, rising working population, accelerating economic growth and rapid urbanization are expected to drive the market.
However, growth of the industry would be challenged by the seasonality of power sports vehicles sales, weather fluctuations, environmental issues and high maintenance cost. A few notable trends include artificial intelligence (AI) applications in power sports vehicles, the emergence of next-generation engines and the economic impact of snowmobiling and technological advancements.
In 2020, the outbreak of COVID-19 pandemic has created an unfavorable impact on the market as the power sports sales are expected to decrease sharply in all regions.
The power sports market comprises four main segments namely snowmobiles, powerboats (PWC and others), motorcycles and off-road vehicles, which further includes all-terrain vehicles (ATVs) & side-by-side vehicles (SSVs). High preference of side-by-side vehicles in developing economies helped off-road vehicles to remain at top position amongst all the segments in 2019.
The fastest-growing regional market is North America owing to favourable weather conditions and increasing consumers spending on recreational and sports activities. The U.S. and Canada are the two largest market for power sports and are already well-penetrated at developed market levels.
Scope of the report:
- The report provides a comprehensive analysis of the global power sports market, segmented into off-road vehicles [(All-Terrain Vehicles (ATVs) & Side-by-Side vehicles (SSVs)], snowmobiles, powerboats (PWC and others) and motorcycles.
- The major regional markets (North America and Europe) have been analysed, along with country coverage of US, Canada, UK and Germany.
- The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.
- The competitive landscape of the market, along with the company profiles of leading players (Honda Motor Co., Ltd., Kawasaki Heavy Industries, Ltd., Textron Inc., Polaris Industries Inc., Yamaha Corporation (Yamaha Motors) and Bombardier Recreational Products Inc.) are also presented in detail.
Key Topics Covered:
1. Market Overview
1.1 Introduction
1.2 Off-Road Vehicles
1.3 Snowmobiles
1.4 Powerboats
1.5 Motorcycles
2. Impact of COVID-19
2.1 Introduction
2.2 Decline in Global GDP Growth
2.3 Change in Organic Traffic
2.4 Disruption of Supply Chain
2.5 North America Power Sports Market
2.6 UK Power Sports Market
3. Global Power Sports Market Analysis
3.1 Global Power Sports Market Value
3.2 Global Power Sports Market Value Forecast
3.3 Global Power Sports Market Volume by Segments
3.4 Global Power Sports Market Volume Forecast by Segments
3.5 Global Off-Road Vehicles Market Volume
3.6 Global Off-Road Vehicles Market Volume Forecast
3.7 Global Off-Road Vehicles Market Volume by Segment
3.8 Global Side-by-Side Vehicles Market Volume
3.9 Global Side-by-Side Vehicles Market Volume Forecast
3.10 Global ATV Market Volume
3.11 Global ATV Market Volume Forecast
3.12 Global ATV Market Volume by Region
3.13 Global Snowmobiles Market Volume
3.14 Global Snowmobiles Market Volume Forecast
3.15 Global Snowmobiles Market Volume by Segments
3.16 Global Snowmobiles Market Volume by Region
3.17 Global Personal Watercraft Market Volume
3.18 Global Personal Watercraft Market Volume Forecast
3.19 Global Personal Watercraft Market Volume by Region
4. Regional Power Sports Market Analysis
4.1 North America
4.1.1 North America Snowmobile Market Volume
4.1.2 North America Snowmobile Market Volume Forecast
4.1.3 The U.S. Snowmobile Market Volume
4.1.4 The U.S. Snowmobile Market Volume Forecast
4.1.5 The U.S. Snowmobile Registration by State
4.1.6 The U.S. ATV Market Volume
4.1.7 The U.S. ATV Market Volume Forecast
4.1.8 The U.S. Powerboat Market Volume
4.1.9 The U.S. Powerboat Market Volume Forecast
4.1.10 The U.S. Powerboat Market Volume by Segment
4.1.11 The U.S. Powerboat Market Volume by Engine Types
4.1.12 The U.S. Personal Watercraft Market Volume
4.1.13 The U.S. Personal Watercraft Market Volume Forecast
4.1.14 The U.S. Motorcycle Market Volume
4.1.15 The U.S. Motorcycle Market Volume Forecast
4.1.16 The U.S. Motorcycle Market Volume by Segments
4.1.17 The U.S. New 601cc+ Motorcycle Registrations
4.1.18 Canada ATV Market Volume
4.1.19 Canada ATV Market Volume Forecast
4.1.20 Canada Snowmobile Market Volume
4.1.21 Canada Snowmobile Market Volume
4.1.22 Canada Snowmobile Registration by Province
4.2 Europe
4.2.1 Europe New 601+cc Motorcycle Registration
4.2.2 Europe New 601+cc Motorcycle Registration Forecast
4.2.3 Germany New Motorcycle Registration
4.2.4 Germany New Motorcycle Registration Forecast
4.2.5 The U.K. New Motorcycle Registration by Category
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Growing High Net Worth Population and Wealth
5.1.2 Increasing New Power Boat Sales
5.1.3 Improving Consumer Confidence Index
5.1.4 Rising Working Population
5.1.5 Accelerating Economic Growth
5.1.6 Rapid Urbanization
5.2 Key Trends and Developments
5.2.1 Artificial Intelligence (AI) Applications in Power Sports Vehicles
5.2.2 Emergence of Next Generation Engines
5.2.3 Economical Impact of Snowmobiling
5.2.4 Technological Advancements
5.3 Challenges
5.3.1 Seasonality of Power Sports Vehicles Sales
5.3.2 Weather Fluctuations
5.3.3 Environmental Issues
5.3.4 High Maintenance Cost
6. Competitive Landscape
6.1 Global Power Sports Market
6.1.1 Key Players - Revenue Comparison
6.1.2 Key Players - Market Cap Comparison
6.1.3 Key Players - R&D Expenditures Comparison
6.1.4 Key Players - Side-by-Side Vehicles Market Share Comparison
6.1.5 Key Players - ATV Market Share Comparison
6.1.6 Key Players - Snowmobiles Market Share Comparison
6.2 The U.S. Power Sports Market
6.2.1 Key Players - Personal Watercraft Market Share Comparison
7. Company Profiles
7.1 Honda Motor Co., Ltd.
7.1.1 Business Overview
7.1.2 Financial Overview
7.1.3 Business Strategies
7.2 Kawasaki Heavy Industries, Ltd.
7.2.1 Business Overview
7.2.2 Financial Overview
7.2.3 Business Strategies
7.3 Textron Inc.
7.3.1 Business Overview
7.3.2 Financial Overview
7.3.3 Business Strategies
7.4 Polaris Industries Inc.
7.4.1 Business Overview
7.4.2 Financial Overview
7.4.3 Business Strategies
7.5 Yamaha Corporation (Yamaha Motors)
7.5.1 Business Overview
7.5.2 Financial Overview
7.5.3 Business Strategies
7.6 Bombardier Recreational Products Inc.
7.6.1 Business Overview
7.6.2 Financial Overview
7.6.3 Business Strategies
For more information about this report visit https://www.researchandmarkets.com/r/n8npon
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