The development of new recreational centers coupled with upgrading of existing sites will support the power sports market growth over the study timeframe. Governments across the globe are actively involved in the commissioning of new trails and upgrading the existing ones. For instance, in 2017, the Department of Natural Resources approved a plan for adding around 200 miles of routes for all-terrain vehicles (ATVs) in the American Legion State Forest. Additionally, in June 2015, the Ontario government announced a new law, that enables the usage of ATVs in public roads. —
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Increasing disposable income along with rising expenditure on recreational activities are expected to drive the power sports market share. Proliferating popularity of off-road vehicles and adventure tours across various terrains will boost the product adoption. Increasing popularity of UTVs and heavyweight motorcycles among the youth coupled with proliferating sports and off-roading adventure and racing events will further augment the industry growth over the projected timeframe.
Industry participants are developing advanced technologies including four-wheel drive systems, turbochargers, and independent suspension to enhance off-road driving experience by reducing driver fatigue. The integration of hybrid powertrain enables manufacturers to address issues associated with noise and emissions along with enhancing the overall vehicle efficiency. Additionally, incorporation of advanced safety technologies including anti-lock braking systems will play a significant role in improving vehicle safety, thereby boosting the power sports market from 2019 to 2025.
North America power sports market is expected to hold its dominance over the study timeframe. The dominance can be attributed to the presence of multiple off-road trials across the region. Some of the popular off-road trials includes Glamis, Moab, Oregon Dunes, Taylor Park and Denali Highway. Additionally, the presence of multiple manufacturers including Honda, Kawasaki, KTM, and Yamaha among others, focusing on offering a diversified portfolio of power sports vehicles further expands the regional share over the projected timeframe.
Increasing accidents, higher initial cost, and emission concerns from such vehicles may restrict the power sports market growth. For instance, according to the Consumer Federation of America, total ATV related accidents accounted for 300 in 2018. However, governments across the globe are promoting the mandatory testing and safety training of individuals prior to driving power sports vehicles. Multiple organizations including the ATV Safety Institute, Snowmobile Safety & Certification Committee, and Boat & Personal Watercraft Safety Resources are offering training and certification programs, thereby providing a positive outlook for the industry expansion.
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Side by side vehicles will showcase considerable growth over the study timeframe owing to several benefits offered over its counterparts including windshield, roll cage, and seatbelts. The similar driving characteristics of a car coupled with enhanced roll-over protection and the availability of multiple seating configurations are some of the key characteristics boosting the segment share. The rising UTV racing and off-roading events across the globe including Grand National Cross-Country Series, Pro UTV Racing, and UTV World Championship will further escalate the power sports market over the projected timeframe.
All-terrain vehicles (ATV) accounted for a significant share in the power sports market in 2018. The share is attributed to the increasing usage of these vehicles in sports and recreational activities. The growing involvement of youth and increasing sports competitions along with proliferating ATV clubs will escalate the segment share. The development of outdoor parks along with increasing disposable income will further support in increasing the product adoption.
Asia Pacific power sports market share will showcase significant growth over the forecast timeframe. The growth can be credited to the increasing awareness about off-roading events among youth coupled with rising disposable income across the region. The proliferating presence of industry players to set up distribution and sales network for enhancing availability of vehicles along with optimization of supply chain operations for catering to the growing consumer demand further escalates the regional expansion.
Few of the key players in power sports market place includes Arctic Cat Inc., Polaris Industries, Yamaha Motor, Honda Motors, BRP, Harley Davidson, John Deere, and Suzuki Motors. Industry players are investing in R&D to introduce new models and upgrade existing products to improve their market share. For instance, in June 2018 Yamaha Motor Co. Ltd. launched the WOLVERINE X2 side by side vehicle in North America. This strategy enabled the company to diversify its product portfolio and strengthen its foothold in the market.
Table of Contents:
Chapter 1.Methodology and Scope
1.1.1. Initial data exploration
1.1.2.Statistical model and forecast
1.1.3.Industry insights and validation
1.1.4.Scope, definition & forecast parameters
1.2. Data Sources
Chapter 2.Executive Summary
2.1. Power Sports industry 360 degree synopsis, 2013 - 2025
2.1.1. Business trends
Chapter 3.Power Sports Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2025
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.3.Profit margin trends
3.3.4.Distribution channel analysis
3.4. Pricing analysis
3.4.1. Regional pricing
188.8.131.52. North America
184.108.40.206.Middle East & Africa
3.4.2. Cost structure analysis
3.5. Regulatory landscape
3.5.1. North America
3.5.5.Middle East & Africa
3.6. Industry impact forces
3.6.1. Growth drivers
220.127.116.11. North America
18.104.22.168.Middle East & Africa
3.6.2.Industry pitfalls & challenges
3.7. Innovation and sustainability
3.8. Growth potential analysis, 2018
3.9. Porter's analysis
3.10.Competitive landscape, 2018
3.10.1. Company market share analysis, 2018
3.11. PESTEL analysis
Chapter 4. Power Sports Market, By Vehicle
Chapter 5. Power Sports Market, By Region
Chapter 6. Power Sports Market Company Profiles
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Global Power Sports (Snowmobile, UTV, ATV) Market Growth 2019-2024
Powersports are a subset of the generalized category motorsports. Examples of powersport vehicles are motorcycles, ATVs, UTVs, snowmobiles and PWCs. One of the defining features of any powersport is the use of an engine, in one form or another. Other defining features of powersport vehicles include the use of handlebars to control movement and the mounting of the rider "on" the machine, exposed to the elements.This report only covers the Snowmobile, UTV, ATV for powersport, the products for transportation, entertainment, agriculture, etc. are not covered.
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