The global powersports market is expected to exhibit a strong 4.5% CAGR over the forecast period till 2025, according to the latest research report from Market Research Future (MRFR). The global powersports market is expected to reach a valuation of USD 14 billion by 2025, according to the report. The report presents a detailed evaluation of the global powersports market, including a detailed look at the market’s historical growth trajectory, present conditions, and future growth prospects. Detailed historical information about the powersports market is used to make studied projections about the market’s likely growth trajectory over the forecast period till 2025. This gives readers a comprehensive overview of the global powersports market’s movement over the historical review period and the forecast period. The leading players in the global powersports market are also profiled in detail in the report in order to give readers a clear overview of the competitive landscape of the market. The impact of the COVID-19 pandemic on the powersports market is also studied in detail in the report.
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Powersports are recreational sports characterized by the use of a motorized vehicle such as motorcycles, boats, all-terrain vehicles (ATVs), etc. The global powersports market has experienced robust growth over the recent past due to the increasing interest in powersports among the youth demographics. Increasing innovation in vehicular technology has led to increasing development of various types of motorized vehicles that can be used on various types of terrains. The increasing disposable income of youth demographics has led to a growing demand for various types of motorized vehicles. This has been a major driver for the global powersports market over the last few years, as youth individuals have emerged as a major consumer of various types of vehicles. The increasing demand to innovate various new types of motorsports in order to satiate the growing demand from the youth demographic is likely to be a major driver for the global powersports market over the forecast period. As the popularity of powersports is increasing, participation in the same is increasing at a corresponding rate. This is likely to be a major driver for the global powersports market over the forecast period.
Increasing investment in powersports from companies looking to maximize their popularity in the youth demographic is likely to be a major driver for the global powersports market over the forecast period. Various sports drink and energy drink manufacturers, such as Red Bull and Monster, have sponsored various new powersports events in the last few years in order to maximize their sales potential. As young people are the major consumers and participants in powersport tournaments, these companies have found a strong investment avenue for expanding their market share. This is likely to lead to strong investment from energy drink manufacturers in powersports tournaments and feats in the coming years. This is likely to remain a major driver for the global powersports market over the forecast period.
MRFR Profiled Key Global Powersports Market Players. They are:
Leading players in the global powersports market include Suzuki Motor Corporation, John Deere, Honda Motor Company Ltd., Harley-Davidson Inc., Textron Inc., Kawasaki Heavy Industries Ltd., Yamaha Motor Co. Ltd., Arctic Cat Inc., Bombardier Recreational Products Inc., and Polaris Industries Inc.
The global powersports market is segmented on the basis of vehicle type, application, model, and region.
By vehicle type, the global powersports market is segmented into all-terrain vehicles, side by side vehicles, personal watercraft, snowmobile, heavyweight motorcycles, and others.
By application, the global powersports market is segmented into on-road and off-road. Both segments of the powersports market are likely to grow over the forecast period.
By model, the global powersports market is segmented into stand up, sit down, and multi personal. The sit down segment holds the largest share in the global powersports market.
North America is likely to dominate the global powersports market over the forecast period, followed by Europe. Widespread popularity of powersports in North America and Europe is the major driver for the powersports market in these regions. The easy availability of well-developed infrastructure for off-road as well as on-road events in these regions is also a major driver for the powersports market in North America and Europe.
Key Questions Addressed by the Report
- What was the historic market size (2020)?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate by 2025?
- How are the key players in this market?
- What are the strategies adopted by key players?
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TABLE OF CONTENT
2.Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.2. Research Objective
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Trends
5.Global Powersports Market, By Vehicle Type
5.2. All-Terrain Vehicle
5.2.1. Market Estimates & Forecast, 2018–2025
LIST OF TABLES
Table 1 Global Powersports Market, By Region, 2017–2025
Table 2 North America: Powersports Market, By Country, 2017–2025
Table 3 Europe: Powersports Market, By Country, 2017–2025
Table 4 Asia-Pacific: Powersports Market, By Country, 2017–2025
Table 5 RoW: Powersports Market, By Region, 2017–2025
Table 6 Global Powersports Market, By Vehicle Type, By Regions, 2017–2025
Table 7 North America: Powersports Market, By Vehicle Type, By Country, 2017–2025
Table 8 Europe: Powersports Market, By Vehicle Type, By Country, 2017–2025
Table 9 Asia-Pacific: Powersports Market, By Vehicle Type, By Country, 2017–2025
Table 10 RoW: Powersports Market, By Vehicle Type, By Region, 2017–2025
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