What Can We Expect for the Power Sports Market Size and Growth Rates?
The power sports market size has seen a strong growth in recent years, growing from $35.24 billion in 2024 to $37.53 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. This growth is contributed by the rising demand for recreational and outdoor activities, growth in off-road and adventure sports, expansion of motorsports and racing, development of high-performance vehicles, and regulatory standards for safety and emissions.
The power sports market size is expected to see significant growth in the next few years. It is forecasted to reach $50.1 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. This growth can be credited to the customization of power sports vehicles for specific needs, expansion of electric and eco-friendly options, growth in electric motorcycles and e-bikes, innovative autonomous and smart vehicles, increased use in urban mobility solutions. Major trends include electric and hybrid power sports vehicles, regulatory compliance in power sports safety, smart and connected power sports experiences, autonomous and semi-autonomous power sports, personalized power sports experiences and rentals.
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What Are Driving the Power Sports Market Growth?
The increase in sports activities is projected to drive growth in the power sports market. Sports activities encompass a wide variety of engagements, including coaching, officiating, and participating in athletic events. The thrilling experiences and outdoor recreational activities associated with power sports have led to an increase in its popularity. For example, in January 2023, the Australian Department of Health and Aged Care reported that more than 90% of adults enjoyed participating in sports. Each year, 3.1 million Australians volunteer in sports and leisure activities, indicating a significant rise in sports activities driving growth in the power sports market.
What Are The Key Segments Within The Global Power Sports Market?
1. By Vehicle Type: All-Terrain Vehicle, Side-By-Side Vehicle, Personal Watercraft, Snowmobiles, Heavyweight Motorcycle
2. By Model: Multi Personal, Sit Down, Stand Up
3. By Application: On-Road, Off-Road
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Which Companies Are Major Players in The Power Sports Market?
Major companies operating in the power sports market include Polaris Inc., Kawasaki Heavy Industries Motorcycle & Engine Company, Yamaha Motor Co. Ltd., Honda Motor Company Ltd., Suzuki Motor Corporation, Harley-Davidson Inc, Kubota Corporation, Kymco, Arctic Cat Inc., Bombardier Recreational Products Inc., Textron Inc., Ducati Motor Holding S.p.A., Triumph Motorcycles Ltd, Feishen Group, Zero Motorcycles Inc, Hisun Motors Corp, American Honda Motor Co., KTM AG, BMW Motorrad, Piaggio & C. SpA, CFMOTO Powersports Inc, Deere & Company, Mahindra & Mahindra Ltd., Caterpillar Inc, J.C. Bamford Excavators Ltd., Komatsu Ltd., Atturo Tire Corporation, Logan Powersports Group, Sportech Inc., STR Motorsports.
What New Trends Are Emerging In The Power Sports Market?
Power sports sector companies are employing next-generation technologies like safety and driver-assistive systems to minimize fatalities from traffic collisions and enhance collision avoidance. Advanced technologies help drivers operate vehicles safely, using sensors and cameras to detect obstacles and deter collisions. For instance, Honda Motor Co., Ltd., announced improvements to its advanced safety and driver assistance systems, Honda Sensing 360 and Honda Sensing Elite, in November 2022.
How Will Power Sports Market Growth Differ Across Regions?
In 2024, North America was the largest region in the power sports market. However, the Asia-Pacific region is expected to witness the fastest growth during the forecast period. This study on the power sports market covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Power Sports Market Report 2025 Offer?
Power sports are characterized as a subset of the motorsports category featuring high-performance engines and handlebar controls for movement steering. Unlike most vehicles, power sports vehicle riders primarily sit on a saddle. These vehicles are typically used for racing and other similar sporting events. The Power Sports Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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