Powersports market is bifurcated into off-road vehicles (ATVs & side-by-side vehicles), heavy-weight motorcycles, snowmobiles, and personal watercrafts. ATV (All-Terrain Vehicle) is designed to handle a wide variety of terrain, for the purpose of sports and is also used for camping or hunting. The Side-by-Side is a small 2 or 4 person four-wheel off-road vehicle. There are six main categories of motorcycles including: cruiser, sport, touring, standard, dual purpose and dirt bike. A snowmobile is a land vehicle designed for winter travel on snow. There are mainly five types of snowmobiles: entry level, performance, touring, mountain and utility. A personal water craft (PWC), also called water scooter, is a recreational watercraft that the rider rides or stands on, rather than inside of, as in a boat. On the basis of their method of operation and seating capacity, the personal watercrafts are of the following three types: stand-up models, sit-down models and multi-person models.
The key factors driving growth of the global power sports industry include improving economic conditions such as rising GDP and GNI, rising urban population apart from others. This enables individuals to spend more on the recreational activities in their day to day life. Some of the noteworthy trends and developments of this industry include increasing use of snowmobiles in North America, rising cost of personal watercrafts in the US and age and income of the snowmobilers. Major challenges faced by this market include the increasing number of deaths and injuries taking place due to ATVs and rising environmental concerns.
North America is the largest market for ATVs representing more than two-thirds of the market. In North America, the US accounts for the largest share followed by Canada. Also, in snowmobile segment, the US and Canada are the major regions globally accounting for more two-thirds of the market share. In motorcycle segment, the sales in North America improved after the global economic recession. The sales of PWC in the US have showed improvement after undergoing a huge loss due to global economic recession.
The report, "Global Power Sports Market" analyzes the development of the respective market, with focus on its four sub segments. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The power sport industry is predominated by a handful of players including Honda Motor, Yamaha Motor, Polaris industries, Harley Davidson contending and vying for capturing market share. The profiles of these leading players are also included in the report along with their key financials and strategies for growth. In competitive analysis section, segment wise competitive landscape is also included in the report.