Global Market for Power Sports is Anticipated to grow at a Significant Pace i.e., USD 55.5 Billion during the Forecast Period 2025 - 2030

Published Date: Dec, 2022

The global power sports market industry is expected to grow at a reasonable rate i.e. 5.6% CAGR, during the forecast period, due to increased government initiatives to aid tourism industry, increased participation by people in several adventurous activities like motor racing, formula racing, etc., and increased customer spending power. Power sport vehicles which include motorcycles, scooters, dirt bikes, ATVs, UTVs, ships, and snowmobiles are high-performance, off-road and on-road vehicles that are built to withstand harsh operating circumstances like shock and vibration, debris, and other environmental hazards. Moreover, individuals, particularly young people, are more likely to engage in sports and recreational activities to de-stress and improve work-life balance. The awareness regarding physical and mental fitness is driving the demand for recreational activities all over the world. This is also expected to drive the global power sports market forward during the forecast period. The growing number of off-roading events, increased research and development activities, and the advent of electric-powered sports vehicles will further augment market development of the power sports industry.

Suzuki Motor Corporation launched the all-new V-STROM 800DE sport adventure tourer and GSX-8S street fighter at the EICMA 2022 (Milan Show) in November 2022. The V-STROM 800DE and GSX-8S are brand-new 800cc class models with lightweight and manoeuvrable features suitable for a wide range of riders. Both models provide an optimized balance of rideability needed for both daily commuting and touring.

Bowse 53 market data Tables and 35 Figures spread through 210 Pages and in-depth TOC on "Power Sports Market by Vehicle (All-Terrain Vehicles, Side by Side Vehicles, Personal Watercraft, Snowmobiles, and Heavyweight Motorcycles), by Propulsion Type (Gasoline, Diesel, and Electric), by Application (On-Road and Off-Road), and Region - Global Forecast to 2030

By Vehicle, the ATV segment will witness the highest CAGR during the forecast period.

ATVs are expected to grow at a high CAGR during the forecast period. ATVs are less difficult to operate than other types of vehicles and have fewer age restrictions and maintenance requirements. Moreover, easy maneuverability, less weight, rapid construction, and a rising number of training centers that provide comprehensive knowledge about driving and safety will drive the segment growth. Thus, because of these factors, as well as their affordability, they are prevalent among both young and old people. The number of ATV routes in the park is being expanded through government initiatives in North America and Europe. These elements are causing the market for power sports to expand.

Global Power Sports Market Segmentation Analysis

Segment

Categorization

Leading Category

Vehicle

All-Terrain Vehicles, Side by Side Vehicles, Personal Watercraft, Snowmobiles, and Heavyweight Motorcycles

All-Terrain Vehicles (High CAGR)

Personal Watercraft (Fastest)

 

Propulsion Type

Gasoline, Diesel, and Electric

Gasoline (Fastest)

Application

On-Road and Off-Road

Off-Road (Largest)

On-Road (High CAGR)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

Asia-Pacific

(High CAGR)

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“Asia-Pacific is expected to witness a high CAGR in the global Power Sports Market.”

Asia-Pacific is expected to have a high CAGR during the forecast period owing to the presence of a high-income population, the increasing trend towards recreational activities, and increased demand for motorcycles and ATVs in the region. Moreover, the development of advanced technologies to comply with safety features will drive the growth of the global power sports industry in the region.

Some of the major players in the global Power Sports industry include Deere & Company, Polaris Inc., Kawasaki Motors Corp., U.S.A., Yamaha Motor Co., Ltd., Honda Motor Co., Ltd, Suzuki Motor Corporation, HARLEY-DAVIDSON, Arctic Cat Inc., KYMCO, and BRP.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2018–2030

Historical Period

2018–2021

Base Year

2022

Forecast Period

2022–2030

Segments Covered in the Study

Vehicle, Propulsion Type, Application, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Deere & Company, Polaris Inc., Kawasaki Motors Corp., U.S.A., Yamaha Motor Co., Ltd., Honda Motor Co., Ltd, Suzuki Motor Corporation, HARLEY-DAVIDSON, Arctic Cat Inc., KYMCO, and BRP

Global Power Sports Market Coverage

Vehicle Insight and Forecast 2018-2030

  • All-Terrain Vehicles
  • Side by Side Vehicles
  • Personal Watercraft
  • Snowmobiles
  • Heavyweight Motorcycles

Propulsion Type Insight and Forecast 2018-2030

  • Gasoline
  • Diesel
  • Electric

Application Insight and Forecast 2018-2030

  • On-Road
  • Off-Road

Geographical Segmentation

Power Sports Market by Region

North America

  • By Vehicle
  • By Propulsion Type
  • By Application
  • By Country – U.S., Canada, and Mexico

Europe

  • By Vehicle
  • By Propulsion Type
  • By Application
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Vehicle
  • By Propulsion Type
  • By Application
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Vehicle
  • By Propulsion Type
  • By Application
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries