Power Sports - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Power Sports Market is accounted for $9.62 billion in 2017 and is expected to reach $16.38 billion by 2026 growing at a CAGR of 6.1% during the forecast period. Some of the key factors influencing the market growth include growing high net worth population and wealth, growing penetration of off-road recreational activities across the globe and increased powerboat sales. However, High ownership cost in conjunction with increased carbon emissions is hampering the market growth.
Power sports are a subset of the summed up classification motorsports. Power sports vehicles generally have high powered engines and these vehicles are majorly used for recreational and utility purposes.
Based on the vehicle, Side by side vehicles has significant growth in the power sports market size during the forecast period, owing to the installation of structures including roll-cage enclosures and individual seatbelts for superior safety.
By Geography, Asia Pacific is expected to grow at the considerable market share during the forecast period, owing to the increased adoption of ATV’s and SSV’s across the region. Industry players are strengthening distribution and sales network to enhance the availability and accessibility for power sports vehicles.
Some of the key players in global power sports market are John Deere, BRP Inc., Zero Motorcycles, Polaris Industries Inc., Suzuki Motors, Harley Davidson, Kawasaki Heavy Industries, Ltd., Yahama Motors Co., Ltd., Kubota Corporation, Honda Motor Co., Ltd., Triumph, Textron Inc., BMW Motorrad, HISUN Motor and KYMCO.
• Multi Personal Models
• Sit Down
• Stand Up
• Side By Side Vehicles
• Heavyweight Motorcycle
• All-Terrain Vehicles
• Personal Watercrafts
• Other Vehicles
• Water Entertainment
• Ground Entertainment
• Air Entertainment
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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