Powersports Market | Leading Segments, Trends, Drivers and Challenges
Harley-Davidson Inc., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., and Yamaha Motor Co. Ltd. are some of the key market vendors
The powersports market is expected to grow by $ 13.45 billion, accelerating at a CAGR of almost 6.39% during the forecast period. Technavio’s research reports offer a detailed analysis of the market segments, delving deep into the factors that will lead to the growth of each segment. It also offers insights on factors that are likely to have a negative impact on market growth. This comprehensive analysis of the market will enable clients to identify areas of growth and steer clear of the low-performing segments.
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Powersports Market: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- Market is segmented by Type (side-by-side, motorcycle, and others) and Geography (North America, Europe, APAC, MEA, and South America). Market growth by the side-by-side segment will be significant during the forecast period as these vehicles are the most widely adopted off-road vehicles in the market due to their short-travel suspension. These vehicles have high-power-rated motors, multi-passenger seats, and space for cargo. Most side-by-side vehicles are equipped with a rollover protection system (ROPS) and are gaining prominence in various motorsport events.
- 39% of the market growth will originate from North America during the forecast period. The high popularity of and demand for off-road vehicles such as side-by-side, ATVs, and motorcycles in the US and Canada will facilitate the powersports market growth in this region which is expected to witness faster growth than other geographies. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Powersports Market size.
Powersports Market: Trends, Drivers, Challenges
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.
- Increasing number of recreational and adventure sports activities will be a significant factor in driving the growth of the Powersports Market. Mountain racing and dirt racing activities are gaining popularity among a growing number of sports enthusiasts. Strong growth of the US recreation transportation sector that consists of boats and off-road vehicles for recreational purposes is driving the demand for powersport vehicles
- Significant investments by sponsors will be instrumental in driving the market growth during the forecast period. This is due to changing lifestyles, the adoption of recreational activities by the youth and middle-age population, and the steady improvement on tourism infrastructure in emerging countries.
- Environmental impact due to off-roading activities is a hurdle that needs to be crossed on the path to success. However, with smart planning and proper allocation of land it is possible to mitigate the even the indirect impact of power sports on the flora and fauna.
Powersports Market: Vendor Analysis
- The market is fragmented.
- American Guardian Warranty Services Inc., Bombardier Recreational Products Inc., Harley-Davidson Inc., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Polaris Inc., Suzuki Motor Corp., Textron Inc., Yamaha Motor Co. Ltd., and ZHEJIANG CFMOTO POWER Co. Ltd. are some of the major market participants.
- The unprecedented outbreak of COVID-19 in 2020 has had a significant impact on market segments had a ripple effect on various stakeholders. Our vendor analysis and insights will provide you with all the information required to make the most of the opportunities and plan business recovery and growth post the pandemic.
Key Areas Covered in our Report:
- Powersports Market Split by Type
- Powersports Market Split by Geography
- North America
- South America
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Competitive scenario
- Vendor landscape
- Landscape disruption
- American Guardian Warranty Services Inc.
- Bombardier Recreational Products Inc.
- Harley-Davidson Inc.
- Honda Motor Co. Ltd.
- Kawasaki Heavy Industries Ltd.
- Polaris Inc.
- Suzuki Motor Corp.
- Textron Inc.
- Yamaha Motor Co. Ltd.
- ZHEJIANG CFMOTO POWER Co. Ltd.
For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
The report provides insights into the following FAQs:
- What is the market CAGR?
The market will accelerate at a CAGR of 6.39%.
- What is the incremental growth of the market?
The market is expected to grow by $ 13.45 bn through 2022-2026.
- What is a key factor driving this market?
Increasing number of recreational and adventure sports activities will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
North America, Europe, APAC, MEA, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
39% growth will originate from North America
- Who are the leading market vendors?
The leading vendors in this market are American Guardian Warranty Services Inc., Bombardier Recreational Products Inc., Harley-Davidson Inc., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Polaris Inc., Suzuki Motor Corp., Textron Inc., Yamaha Motor Co. Ltd., and ZHEJIANG CFMOTO POWER Co. Ltd.
- What are the market segments covered in this report?
The market is segmented by Type (side-by-side, motorcycle, and others) and Geography (North America, Europe, APAC, MEA, and South America)