Powersports Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The powersports market share is expected to increase by USD 13.45 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.39%.

This powersports market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers powersports market segmentation by type (side-by-side, motorcycle, and others) and geography (North America, Europe, APAC, MEA, and South America). The powersports market report also offers information on several market vendors, including American Guardian Warranty Services Inc., Bombardier Recreational Products Inc., Harley-Davidson Inc., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Polaris Inc., Suzuki Motor Corp., Textron Inc., Yamaha Motor Co. Ltd., and ZHEJIANG CFMOTO POWER Co. Ltd. among others.

What will the Powersports Market Size be During the Forecast Period?

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Powersports Market: Key Drivers and Challenges

The increasing number of recreational and adventure sports activities is notably driving the powersports market growth, although factors such as environmental impact due to off-roading activities may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the powersports industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Powersports Market Driver

The demand for powersport vehicles is increasing owing to the increasing number of recreational and adventure sports activities. Mountain racing and dirt racing activities are gaining popularity along with a growing number of sports enthusiasts. Strong growth of the US recreation transportation sector that consists of boats, marines, and off-road vehicles for recreational purposes is driving the demand for powersport vehicles. For leveraging market potential, prominent motorcycle manufacturers are focusing on this segment and increasing the offerings. Changing lifestyles, the adoption of recreational activities by the youth and middle-age population, and the improving tourism infrastructure are the major factors driving the powersports market in emerging countries. High emphasis on safety by providing training and accessories will lower the risks involved and encourage riders to go for powersport vehicles. 

Key Powersports Market Challenge

There are detrimental and interconnected effects of powersport vehicles on wildlife, habitat, vegetation, soil, air, and water. Changes in animal behavior, including the abandonment of important activities such as hunting, foraging, and mating, have been linked to the increasing adoption of off-road vehicles. These behavioral and physiological responses to motorized human disturbance impact individuals and wildlife. Although the direct effects of off-road activities by off-road vehicles may not be more evident, indirect effects on wildlife are significant and often impact habitat in areas earmarked for motorized recreation. Indirect effects often have broad implications as the road effect zone, or the outer limits of a significant ecological effect extend much further than the actual road, route, or trail. Disturbances from noise, pollution, ground impact, and speed may travel beyond the actual surface. Hence, such adverse effects of racing activities on the environment and the ecosystems are expected to threaten the legibility of such vehicles, thereby slowing down the demand for powersport vehicles. This is expected to hamper the market growth during the forecast period.

This powersports market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Powersports Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• American Guardian Warranty Services Inc.
• Bombardier Recreational Products Inc.
• Harley-Davidson Inc.
• Honda Motor Co. Ltd.
• Kawasaki Heavy Industries Ltd.
• Polaris Inc.
• Suzuki Motor Corp.
• Textron Inc.
• Yamaha Motor Co. Ltd.
• ZHEJIANG CFMOTO POWER Co. Ltd.

This statistical study of the powersports market encompasses successful business strategies deployed by the key vendors. The powersports market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The powersports market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Powersports Market?

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39% of the market's growth will originate from North America during the forecast period. The US is a key market for powersports in North America. Market growth in this region will be faster than the growth of the market in South America.

The high popularity of and demand for off-road vehicles such as side-by-side, ATVs, and motorcycles in the US and Canada will facilitate the powersports market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Powersports Market?

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The powersports market share growth by the side-by-side segment will be significant during the forecast period. Side-by-side vehicles are the most widely adopted off-road vehicles in the market because of their short-travel suspension. These vehicles have high-power-rated motors, multi-passenger seats, and space for cargo. Most side-by-side vehicles are equipped with a rollover protection system (ROPS) and are gaining prominence in various motorsport events. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the powersports market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Powersports Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive powersports market growth during the next five years
• Precise estimation of the powersports market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the powersports industry across North America, Europe, APAC, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of powersports market vendors

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