Global Power Sports Market Overview:
Powersport are a kind of adventurous sport where high powered specially designed vehicles such as all-terrain vehicles, snowmobiles and motorcycles are used. It is a lifestyle based industry with huge involvement of audience. The defining features of power vehicles include strength of engine and robust suspension system.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2023 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Integration of Advance Infotainment System with Sport Vehicles and Rising Demand for All-Terrain Vehicles
Market Growth Drivers:
Growing People's Inclination Towards Recreational Activity and Increasing Travel & Tourism Industry
Challenges:
Lack of Training Programs for Powersport and Low Awareness About Powersport in Emerging Economies
Restraints:
Highly Prone to Adverse Weather Conditions and High Cost of Equipment
Opportunities:
Growing Awareness About Powersport In Emerging Countries and Rising Disposable Income
Competitive Landscape:
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Some of the key players profiled in the report are Arctic Cat Inc. [United States], BRP Inc. [ Canada], Harley Davidson [United States], Honda Motors. Co., Ltd. [Japan], John Deere [United States], Kawasaki Motors Corp. [United States], Kubota Corporation [Japan], Polaris Industries Inc. [United States], Suzuki Motors [Japan] and Yahama Motors Co., Ltd [Japan]. Additionally, following companies can also be profiled that are part of our coverage like KTM [Austria], Alta-Motors [United States], CFMOTO [United States], Benelli [Italy], Can-Am motorcycles [Canada] and Kymco [Taiwan]. Analyst at AMA Research see United States Vendors to retain maximum share of Global Power Sports market by 2028.
Latest Market Insights:
In August 2023, Pierer Mobility Group, the parent company of KTM and Husqvarna Motorcycles, acquired a majority stake in GasGas Motorcycles from Spanish manufacturer Torrot. This acquisition strengthens Pierer's position in the off-road motorcycle market and adds GasGas' heritage and loyal following to its portfolio.
In April 2021, Arctic Cat has launched a new ATV as part of its model year 2022 lineup available for dealerships in July.
What Can be Explored with the Power Sports Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Power Sports Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Power Sports
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Power Sports market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Power Sports market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Original Equipment Manufacturers, Potential Investors, Powersport Organizers, Government Agencies, Research Institutes and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.