Power Sports Market .pdf
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Power Sports Market Industry Trends, Statistics,
Analysis by 2024: Global Market Insights Inc.
The Power Sports market trends are analyzed from recent past with an eye on
coming years in this report that also offers projections for Power Sports industry
targeted at helping in business decisions.
The escalating growth is governed by off road & side by side vehicles, personal
watercrafts and snowmobiles due to increased usage of PRV in athletics,
entertainment & agriculture and ongoing innovations by various manufacturers.
Some of the striking industry trends and developments include cannibalization of
ATVs by side-by-side vehicles, Polaris surpassing Honda in ATV industry, young
generation opting for recreational, boats and power sports market players exploring
innovative technologies including shopatron technology used in cost effective
advanced acceleration facility and damage recovers in these vehicles. However, the
power sports market is retrained by various challenges including stringent
environmental issues, increasing number of deaths due to ATVs and undesired
The industry is highly competitive in nature with all the divisions operating in a highly
consolidated structure. Every key power sports market player conducts a throughout
analysis of their business & financial overview and business strategies. Through
these extensive research work, companies provide their clients optimum information
with a balanced research outlook on power sports market.
ATV is specially designed to handle a wide range of terrain for athletics, camping
and hunting purposes. Side by Side is a small segment in the power sports market
with 2 or 4 passengers four wheel off road vehicle. There are six major types of
motorcycles including sport, cruiser, standard, touring, dirt bike and dual-purpose
vehicle. It offers various advantages over ATVs which includes better riding
experience, rollover protection bars and ease of mobility. In past ten years, off road
industry power sports market segment has experienced a notable change in demand
from ATVs to side by side vehicles.
North America, led by the U.S. and Canada for global power sports market
represents more than two third of the industry share. In snowmobile vehicle
segment, the region is the largest industry player owing to high demands in
adventurous sporting. The sales of motorcycle and PWC segments significantly
improved after the global economic recession in the region.
The key players involved in power sports market are Polaris Industries, Yamaha
Motor and Arctic Cat. Other important industry players are Kubota, BRP, Harley
Davidson, Honda Motors, Kawasaki Motors, John Deere, Cectek, Shuopu and
Suzuki. Heavy R&D expenditure for upgradation of technologies is carried out by
major industry players. The drive to expand product features including minimal
maintenance, enables them to remain competitive in the industry.
The companies are coming up with modern technologies and product launch to
capture this growing industry. In 2015, Polaris Industries acquired Hammerhead, a
Chinese ATV maker to modify its product line up. In addition, this strategy will help
company in power sports market to cut cost of exploiting built units from the US and
thus cause productive price reductions. In 2014, the company also acquired the US
based power sports and outdoor vehicle manufacturer, Kolpin Outdoor to strengthen
its power sports market segment.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for
key industries such as chemicals, advanced materials, technology, renewable
energy and biotechnology.
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