Power Sports Aftermarket: Business Opportunities, Regional Outlook, Trends Outlook Up to 2027
Category: #business  By Ronak Bora  Date: 2021-08-05
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Power Sports Aftermarket: Business Opportunities, Regional Outlook, Trends Outlook Up to 2027

Industry share of power sports aftermarket from UTV vehicles is likely to reach a significant level through the next few years. This can be owed to the higher demand for these machines in farming and good transportation applications across different terrains. Besides, the UTV’s are extensively employed in off-road activities for sports & recreational purposes. This is because these vehicles offer enhanced passenger and load-carrying capacities on challenging terrains in comparison to their ATV counterparts.

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The power sports aftermarket share will be positively driven by the rise in the instances of racing accidents that result in significant damages. The higher levels of wear & tear in off-roading activities have led to the increasing requirement for replacement of the power sports parts. There is a considerable expansion in the growth of electric vehicles to curb carbon emissions.

The influx of GPS systems, audio bars, and communication systems in the powersports has given rise to improved safety of the rider while ensuring communication in cases of emergencies. Besides, there is easy access to low-cost parts and products for these vehicles in comparison to the components rendered by several OEMs.

The power sports aftermarket for North America and Europe will see positive inclination through the next few years with the incessant need for power sports vehicles. This is due to the jump in the number of off-road activities, championships, and racing events. In the wake of this shift, several market players across the region are expanding their services. For instance, in April 2020, a leading M&A company in the U.S., The DVS Group, inked an acquisition deal with Nivel owned Side by Side Stuff, a major marketer of aftermarket parts across the UTV retail sector.

Power sports aftermarket dealers are working towards capacity expansions, mergers, acquisitions, partnerships, and technological advancements to extend their offerings across the globe while sustaining competition. Citing the same with an instance, Arrowhead Engineered Products, acquired a German aftermarket part distributor for power sports equipment, Ratioparts in January 2018, to extend its presence in the global market as well as enhance its services and products.

The current COVID-19 pandemic and its increasing spread across the globe, led to the imposition of restrictions by various governments on travel and trade, drawing a negative outlook on the market revenue. The regulation of the lockdown policies globally also hampered the production capacities of companies operating in various sectors. This resulted in the suspension of the manufacturing activities of power sports vehicles and components in the first six months of 2020.

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Some Point from Table of Contents:

Data Tables

TABLE 1    Global power sports aftermarket industry 3600 synopsis, 2016 – 2027

TABLE 2    Global Market size, 2016 – 2020 (USD Million)

TABLE 3    Global Market size, 2021 – 2027 (USD Million)

TABLE 4    Global Market size, by vehicle, 2016 – 2020 (USD Million)

TABLE 5    Global Market size, by vehicle, 2021 – 2027 (USD Million)

TABLE 6    Global all-terrain vehicles aftermarket size, by component, 2016 – 2020 (USD Million)

TABLE 7    Global all-terrain vehicles aftermarket size, by component, 2021 – 2027    (USD Million)

TABLE 8    Global side-by-side vehicles aftermarket size, by component, 2016 – 2020 (USD Million)

TABLE 9    Global side-by-side vehicles aftermarket size, by component, 2021 – 2027    (USD Million)

TABLE 10    Global snowmobiles aftermarket size, by component, 2016 – 2020 (USD Million)

TABLE 11    Global snowmobiles aftermarket size, by component, 2021 – 2027    (USD Million)

TABLE 12    Global heavyweight motorcycles aftermarket size, by component, 2016 – 2020 (USD Million)

TABLE 13    Global heavyweight motorcycles aftermarket size, by component, 2021 – 2027    (USD Million)

TABLE 14    Global personal watercrafts aftermarket size, by component, 2016 – 2020 (USD Million)

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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