Overview and Scope
Power sports are defined as a subset of the motorsports category that has high-performance engines and controlled handlebars for controlling the movement. The rider usually sits on a saddle for power sports vehicles, unlike sitting in enclosed spaces in other cars or vehicles. These are usually used for races and other similar sporting events.
Sizing and Forecast
The power sports market size has grown strongly in recent years. It will grow from <b>$33.37 billion in 2023 to $35.74 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. </b> The growth in the historic period can be attributed to demand for recreational and outdoor activities, growth in off-road and adventure sports, expansion of motorsports and racing, development of high-performance vehicles, regulatory standards for safety and emissions..
The power sports market size is expected to see strong growth in the next few years. It will grow to <b>$46.96 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. </b> The growth in the forecast period can be attributed to customized power sports vehicles for specific needs, expansion of electric and eco-friendly options, growth in electric motorcycles and e-bikes, innovation in autonomous and smart vehicles, increased use in urban mobility solutions.. Major trends in the forecast period 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..
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/power-sports-global-market-report
Segmentation & Regional Insights
The power sports market covered in this report is segmented –
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
<b>North America</b> was the largest region in the power sports market in 2023. The <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the power sports market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6405&type=smp
Major Driver Impacting Market Growth
The rise in sports activities is expected to propel the growth of the power sports market going forward. Sports activities mean performing or engaging in the sport in any capacity, including but not limited to coaching, officiating, and participating in practice and contests. The growing popularity of power sports is associated with thrilling experiences and outdoor recreation activities, that has led to an increase in demand for power sports. For instance, in January 2023, according to the Department of Health and Aged Care, a department of the Australian Government, over 90% of adults enjoyed participating in sports. Three million youngsters and almost 13 million adults participate in athletics annually. Each year, 3.1 million Australians volunteer in sports and active leisure. Therefore, an increase in sports activities is driving the growth of the power sports market.
Key Industry Players
Major companies operating in the power sports market include <b> 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 </b>
The power sports market report table of contents includes:
1. Executive Summary
2. Power Sports Market Characteristics
3. Power Sports Market Trends And Strategies
4. Power Sports Market – Macro Economic Scenario
5. Global Power Sports Market Size and Growth
.
.
.
31. Global Power Sports Market Competitive Benchmarking
32. Global Power Sports Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Power Sports Market
34. Power Sports Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Polaris Inc.
Kawasaki Heavy Industries Motorcycle & Engine Company
Yamaha Motor Co. Ltd
Honda Motor Company Ltd
Suzuki Motor Corporation
Explore the trending research reports from TBRC:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
