Power Sports Market Growth Trends and Forecast To 2027

By Ronak Bora

Asia Pacific power sports market is set to depict huge returns on the overall industry. This can be ascribed to a rapid increase in demand for these vehicles in countries like Japan, China, and India. Besides, an increasing consumer disposable income across these countries is further propelling the demand for power sports. As per the data published by World Bank, the gross national income in China accounted for $10,410 compared to $9600 in 2018.
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The trend of electrification has taken a toll on various industries around the globe today. The sports industry is no exception to this. Debuting in the automotive and transportation and sports business space, the power sports market is now all set to record massive gains in the upcoming years, subject to the increasing concerns related to toxic emissions, in tandem with the introduction of stringent norms, which has eventually led to a decent uptick in demand for electric sports vehicles.
Reports estimate that the global power sports market size could cross USD 50 billion through 2027. There is an evident rise in the number of young adults indulging in off-road biking experiences, creating new opportunities for the heavy motorcycle segment. The improvement in disposable income among the people has driven the need for recreational activities, like off-road races and rallies.
Leading players like Suzuki Motor Corporation and Harley Davidson are heavily investing in research and development to launch new models of heavy-duty motorcycles that come with better power and fuel efficiency to meet the changing demands of the people.
In the last couple of years, the region has also witnessed a stark increase in the number of tourists further steering the need for recreational activities, bolstering the regional power sports sector. Driven by the changing consumer demands, the power sports companies are taking steps to advance their offering to meet the technologically changing world. Moreover, there is an equally growing need to develop vehicles that are sustainable and do not cause pollution.
These companies are entering into partnerships, strategic alliances, collaborations, and mergers to increase their presence as well as to achieve a competitive edge. In the year 2017, U.S.-based- Arctic Cat Inc. signed a merger agreement with Textron Inc., under which the latter decided to acquire Arctic for a cash transaction value of approximately USD 247 million. This transaction aimed at increasing its product portfolio as well as its geographical reach.
Other prominent companies in the power sports market include Kawasaki Motors Corporation, Honda Motors, Polaris Inc., Harley Davidson, Bombardier Recreational Products, and Honda Motors, to name a few. All in all, the ability of the people to spend on leisure activities and invest in experiences has encouraged the industry players to design and develop products that meet the trends of the people along with rendering safety, reliability, aesthetic appearance, as well as environmental friendliness.
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Partial Chapter of the Table of Content
Chapter 4   Power Sports Market Competitive Landscape
4.1    Introduction
4.2    Company market share analysis, by vehicle, 2020
4.2.1    All-terrain vehicles
4.2.2    Side by side vehicles
4.2.3    Personal watercraft
4.2.4    Snowmobile
4.2.5    Heavyweight motorcycles
4.3    Sales volume of major power sports manufacturers, by vehicle, 2020
4.3.1    All-terrain vehicles
4.3.2    Side by side vehicles
4.3.3    Personal watercraft
4.3.4    Snowmobile
4.3.5    Heavyweight motorcycles
4.4    Competitive analysis of major market players
Chapter 5   Power Sports Market, By Vehicle
5.1    Key trends, by vehicle
5.2    All-terrain vehicles
5.2.1    Market estimates and forecast, 2016 – 2027
5.3    Side by side vehicles
5.3.1    Power sports market estimates and forecast, 2016 – 2027
5.4    Personal watercrafts
5.4.1    Market estimates and forecast, 2016 – 2027
5.5    Snowmobiles
5.5.1    Market estimates and forecast, 2016 – 2027
5.6    Heavyweight motorcycles
5.6.1    Power sports market estimates and forecast, 2016 – 2027
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About Author

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 sport....

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