Power Sports Market Size - By Vehicle, Application, Propulsion Type & Forecast, 2024

Description

Power sports market size is estimated to witness over 6% CAGR during 2024-2032, driven by the increasing popularity of adventure sports. As consumers seek thrilling and engaging experiences, the demand for power sports vehicles such as all-terrain vehicles (ATVs), snowmobiles, and personal watercraft is surging.

In June 2024, Smart AutoCare*, automotive service contractor, introduced its latest offering SmartSports, providing protection for a diverse array of power sports vehicles. Similar initiatives by market players, technological advancements, and performance enhancements in power sports vehicles attract both new and experienced riders, further driving sales.

As economies grow and disposable incomes increase, more individuals are willing to invest in recreational vehicles that offer both entertainment and utility. Of late, the expansion of power sports events and competitions globally are driving interest in these activities, creating a larger consumer base.

The power sports industry is classified into vehicle, propulsion type, application, and region.

Based on vehicle, the all-terrain vehicle segment is poised to witness sustained CAGR from 2024 to 2032 backed by the versatility and widespread appeal among outdoor enthusiasts and adventure seekers. ATVs are designed to handle various terrains, from rugged off-road paths to sandy dunes, making them ideal for a range of recreational activities, including trail riding, hunting, and farming. Their ability to provide thrilling experiences while also serving practical purposes drive strong consumer interest.

The recreational application segment will generate notable revenues during 2024-2032 owing to the increasing consumer demand for engaging and adventurous outdoor activities. Power sports vehicles such as jet skis, ATVs, and off-road motorcycles are highly sought after for recreational use, offering exciting experiences. As more individuals seek ways to enjoy their free time and explore nature, the appeal of power sports as a means of adventure and entertainment grows.

Asia Pacific power sports industry size will expand significantly during 2024-2032, attributed to the increasing investment in recreational infrastructure and the growing number of specialized power sports events. Governments and private investors are developing more facilities such as off-road parks, racetracks, and water sports centers, which create new opportunities for consumers to engage in power sports activities. This will further drive the demand for power sports vehicles across the region.

Product Code: 1688

Chapter 1 Methodology & Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market definitions

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 OEMs
- 3.2.2 Raw material suppliers
- 3.2.3 Rental service providers
- 3.2.4 End-users
- 3.2.5 Profit margin analysis
3.3 Technology & innovation landscape
3.4 Patent analysis
3.5 Key news & initiatives
3.6 Regulatory landscape
3.7 Impact forces
- 3.7.1 Growth drivers
  - 3.7.1.1 Increasing focus on R&D investments and product innovation
  - 3.7.1.2 Introduction of electric power sport vehicles in Europe
  - 3.7.1.3 Growing inclination towards recreational activities in Asia Pacific
  - 3.7.1.4 Rising number of off-roading events in North America
  - 3.7.1.5 Positive outlook of tourism industry in Latin America and MEA
- 3.7.2 Industry pitfalls & challenges
  - 3.7.2.1 High initial cost of power sports vehicles
  - 3.7.2.2 Increasing safety and environmental impact concerns
3.8 Growth potential analysis
3.9 Porter's analysis
3.10 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Vehicle, 2021 - 2032 ($Mn & Units)

5.1 Key trends
5.2 All-Terrain vehicle
5.3 Side by side vehicle
5.4 Personal watercrafts
5.5 Snowmobile
5.6 Heavyweight motorcycle

Chapter 6 Market Estimates & Forecast, By Propulsion Type, 2021 - 2032 ($Mn & Units)

6.1 Key trends
6.2 Gasoline
6.3 Electric
6.4 Diesel

Chapter 7 Market Estimates & Forecast, By Application, 2021 - 2032 ($Mn & Units)

7.1 Key trends
7.2 Recreational
- 7.2.1 All-Terrain vehicle
- 7.2.2 Side by side vehicle
- 7.2.3 Personal watercrafts
- 7.2.4 Snowmobile
- 7.2.5 Heavyweight motorcycle
7.3 Utility
- 7.3.1 All-Terrain vehicle
- 7.3.2 Side by side vehicle
- 7.3.3 Personal watercrafts
- 7.3.4 Snowmobile
- 7.3.5 Heavyweight motorcycle
7.4 Commercial
- 7.4.1 All-Terrain vehicle
- 7.4.2 Side by side vehicle
- 7.4.3 Personal watercrafts
- 7.4.4 Snowmobile
- 7.4.5 Heavyweight motorcycle
7.5 Construction
- 7.5.1 All-Terrain Vehicle
- 7.5.2 Side by side vehicle
- 7.5.3 Personal watercrafts
- 7.5.4 Snowmobile
- 7.5.5 Heavyweight motorcycle
7.6 Defense
- 7.6.1 All-Terrain Vehicle
- 7.6.2 Side by side vehicle
- 7.6.3 Personal watercrafts
- 7.6.4 Snowmobile
- 7.6.5 Heavyweight Motorcycle
7.7 Sports
- 7.7.1 All-Terrain Vehicle
- 7.7.2 Side by side vehicle
- 7.7.3 Personal watercrafts
- 7.7.4 Snowmobile
- 7.7.5 Heavyweight Motorcycle

Chapter 8 Market Estimates & Forecast, By Region, 2021 - 2032 ($Mn & Units)

8.1 Key trends
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
8.3 Europe
- 8.3.1 UK
- 8.3.2 Germany
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Russia
- 8.3.6 Spain
- 8.3.7 Rest of Europe
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 Japan
- 8.4.3 India
- 8.4.4 South Korea
- 8.4.5 Australia
- 8.4.6 Southeast Asia
- 8.4.7 Rest of Asia Pacific
8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
- 8.5.4 Rest of Latin America
8.6 MEA
- 8.6.1 UAE
- 8.6.2 South Africa
- 8.6.3 Saudi Arabia
- 8.6.4 Rest of MEA

Chapter 9 Company Profiles

9.1 Arctic Cat
9.2 BMW Motorrad
9.3 BRP
9.4 CFMOTO
9.5 Ducati Motor Holding
9.6 Harley-Davidson
9.7 Hisun Motors
9.8 Honda Motor Company
9.9 John Deere
9.10 Kawasaki Heavy Industries
9.11 KTM AG
9.12 Kubota Corporation
9.13 KYMCO
9.14 Mahindra & Mahindra
9.15 Piaggio Group
9.16 Polaris Industries
9.17 Suzuki Motor Corporation
9.18 Toro Company
9.19 Triumph Motorcycles
9.20 Yamaha Motor Company

Power Sports Market Size - By Vehicle, Application, Propulsion Type & Forecast, 2024 - 2032