Product Code: 1688
Power Sports Market is expected to grow considerably through 2032 owing to the constantly upward-moving trend of electric power sports vehicles, especially in European countries such as the UK, Germany, and France. The demand for electric power sports vehicles is being largely driven by its superior characteristics including no emissions. Additionally, the mounting adoption of electric power sports vehicles from the millennial population is further expected to accelerate the market expansion in the coming years.
Factors such violation of rules and regulations and an upsurge in accidents and fatalities may hamper the market expansion in the near future. However, the constant upgradations in advanced battery technologies will improve the performance and range of electric power sports.
The key players in the electric power sports vehicle industry are engaging in strategic initiatives such as partnerships, mergers and acquisitions, and new product launches to strengthen their position in the industry. For instance, in 2021, Polaris introduced an electric UTV, Ranger EV with independent front suspension system. The innovation is known to enhance the ride quality, cornering abilities, reduce body roll, and offer optimum stability.
Overall, the power sports vehicle market is segmented in terms of vehicle, propulsion type, and region.
Considering the vehicle, the all-terrain vehicle segment held over 8.5% market share in 2022 and is expected to register notable gains through 2032. These vehicles help improve productivity by covering large distances much quicker than tractors while offering ample comfort to the operator, further paving the way for segmental expansion. Besides, a prolific rise in ATV clubs aligned with the development of outdoor clubs would provide substantial push to the product demand.
Based on propulsion, the diesel segment is expected to exhibit over 5% CAGR during 2023-2032, owing to several advantages offered by diesel fueled power sports vehicles, such as high torque and power. The diesel engine is much more efficient and preferable as compared to gasoline engines, which is anticipated to spur its adoption in the future. Besides, these vehicles are equipped with long-lasting and high-performance engines that can deliver improved power.
Regionally, the Asia Pacific power sports market accounted for approximately 19% market share in 2022 and is slated to grow exponentially through 2032, as rising disposable income in the region will spearhead the consumption growth. In addition, power sports trails and recreational parks are becoming more prominent, while well-established companies such as Suzuki, Yamaha, and Honda are becoming more prevalent. These factors are fostering the regional market expansion.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Scope & definitions
- 1.2 Base estimates and calculations
- 1.3 Forecast calculations
- 1.4 Data Sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Power sports industry 360 degree synopsis, 2018-2032
- 2.2 Business trends
- 2.2.1 Total Addressable Market (TAM), 2023-2032
- 2.3 Vehicle trends
- 2.4 Propulsion type trends
- 2.5 Regional trends
Chapter 3 Power Sports Industry Insights
- 3.1 Introduction
- 3.2 Impact of COVID-19
- 3.2.1 North America
- 3.2.2 Europe
- 3.2.3 Asia Pacific
- 3.2.4 Latin America
- 3.2.5 MEA
- 3.3 Russia- Ukraine war impact
- 3.4 Industry ecosystem analysis
- 3.4.1 Component suppliers
- 3.4.2 Manufacturers
- 3.4.3 Profit margin analysis
- 3.4.4 End-users
- 3.4.5 Distribution channel analysis
- 3.4.6 Vendor matrix
- 3.5 Technology & innovation landscape
- 3.6 Patent analysis
- 3.7 Key initiative and news
- 3.8 Regulatory landscape
- 3.8.1 North America
- 3.8.2 Europe
- 3.8.3 Asia Pacific
- 3.8.4 Latin America
- 3.8.5 MEA
- 3.9 Industry impact forces
- 3.9.1 Growth drivers
- 3.9.1.1 Increasing focus on R&D investments and product innovation
- 3.9.1.2 Introduction of electric power sport vehicles in Europe
- 3.9.1.3 Growing inclination towards recreational activities in Asia Pacific
- 3.9.1.4 Rising number of off-roading events in North America
- 3.9.1.5 Positive outlook of tourism industry in Latin America and MEA
- 3.9.2 Industry pitfalls & challenges
- 3.9.2.1 High initial cost of power sports vehicles
- 3.9.2.2 Increasing safety and environmental impact concerns
- 3.10 Growth potential analysis
- 3.11 Porter's analysis
- 3.12 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
- 4.1 Introduction
- 4.2 Company market share, by vehicle, 2022
- 4.2.1 All-terrain vehicles
- 4.2.2 Side by side vehicles
- 4.2.3 Personal watercraft
- 4.2.4 Snowmobile
- 4.2.5 Heavyweight motorcycles
- 4.3 Sales volume of major power sports manufacturers, by vehicle, 2022
- 4.3.1 All-terrain vehicles
- 4.3.2 Side by side vehicles
- 4.3.3 Personal watercraft
- 4.3.4 Snowmobile
- 4.3.5 Heavyweight motorcycles
- 4.4 Competitive analysis of power sports manufacturers
- 4.4.1 Polaris, Inc.
- 4.4.2 BRP Group
- 4.4.3 Artic Cat, Inc.
- 4.4.4 Suzuki Motor Corporation
- 4.4.5 Yamaha Motor Company
- 4.4.6 Kawasaki Motor Corporation
- 4.4.7 Honda Motor Co., Ltd
- 4.5 Competitive positioning matrix
- 4.6 Strategic outlook matrix
Chapter 5 Power sports Market, By Vehicle
- 5.1 Key trends, by vehicle
- 5.2 All-terrain vehicles
- 5.2.1 Market estimates and forecast, 2018-2032
- 5.3 Side by side vehicles
- 5.3.1 Market estimates and forecast, 2018-2032
- 5.4 Personal watercrafts
- 5.4.1 Market estimates and forecast, 2018-2032
- 5.5 Snowmobiles
- 5.5.1 Market estimates and forecast, 2018-2032
- 5.6 Heavyweight motorcycles
- 5.6.1 Market estimates and forecast, 2018-2032
Chapter 6 Power sports Market, By Propulsion Type
- 6.1 Key trends, by propulsion type
- 6.2 Gasoline
- 6.2.1 Market estimates and forecast, 2018-2032
- 6.3 Electric
- 6.3.1 Market estimates and forecast, 2018-2032
- 6.4 Diesel
- 6.4.1 Market estimates and forecast, 2018-2032
Chapter 7 Power sports Market, By Region
- 7.1 Key trends, by region
- 7.2 North America
- 7.2.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.2.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.2.3 U.S.
- 7.2.3.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.2.3.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.2.4 Canada
- 7.2.4.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.2.4.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.3 Europe
- 7.3.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.3.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.3.3 UK
- 7.3.3.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.3.3.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.3.4 Germany
- 7.3.4.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.3.4.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.3.5 France
- 7.3.5.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.3.5.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.3.6 Italy
- 7.3.6.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.3.6.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.3.7 Russia
- 7.3.7.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.3.7.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.4 Asia Pacific
- 7.4.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.4.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.4.3 China
- 7.4.3.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.4.3.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.4.4 India
- 7.4.4.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.4.4.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.4.5 Japan
- 7.4.5.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.4.5.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.4.6 South Korea
- 7.4.6.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.4.6.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.5 Latin America
- 7.5.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.5.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.5.3 Brazil
- 7.5.3.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.5.3.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.5.4 Mexico
- 7.5.4.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.5.4.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.6 MEA
- 7.6.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.6.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.6.3 UAE
- 7.6.3.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.6.3.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.6.4 Saudi Arabia
- 7.6.4.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.6.4.2 Market estimates and forecast, by propulsion type, 2018-2032
- 7.6.5 South Africa
- 7.6.5.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.6.5.2 Market estimates and forecast, by propulsion type, 2018-2032
Chapter 8 Company Profiles
- 8.1 Arctic Cat, Inc.
- 8.1.1 Business Overview
- 8.1.2 Financial Data
- 8.1.3 Product Landscape
- 8.1.4 Strategic Outlook
- 8.1.5 SWOT Analysis
- 8.2 Bombardier Recreational Products
- 8.2.1 Business Overview
- 8.2.2 Financial Data
- 8.2.3 Product Landscape
- 8.2.4 Strategic Outlook
- 8.2.5 SWOT Analysis
- 8.3 Deere & Company
- 8.3.1 Business Overview
- 8.3.2 Financial Data
- 8.3.3 Product Landscape
- 8.3.4 Strategic Outlook
- 8.3.5 SWOT Analysis
- 8.4 Harley Davidson
- 8.4.1 Business Overview
- 8.4.2 Financial Data
- 8.4.3 Product Landscape
- 8.4.4 Strategic Outlook
- 8.4.5 SWOT Analysis
- 8.5 Honda Motor Co., Ltd.
- 8.5.1 Business Overview
- 8.5.2 Financial Data
- 8.5.3 Product Landscape
- 8.5.4 Strategic Outlook
- 8.5.5 SWOT Analysis
- 8.6 Kawasaki Motors Corporation
- 8.6.1 Business Overview
- 8.6.2 Financial Data
- 8.6.3 Product Landscape
- 8.6.4 Strategic Outlook
- 8.6.5 SWOT Analysis
- 8.7 Kubota Corporation
- 8.7.1 Business Overview
- 8.7.2 Financial Data
- 8.7.3 Product Landscape
- 8.7.4 Strategic Outlook
- 8.7.5 SWOT Analysis
- 8.8 KYMCO
- 8.8.1 Business Overview
- 8.8.2 Financial Data
- 8.8.3 Product Landscape
- 8.8.4 Strategic Outlook
- 8.8.5 SWOT Analysis
- 8.9 Polaris Inc.
- 8.9.1 Business Overview
- 8.9.2 Financial Data
- 8.9.3 Product Landscape
- 8.9.4 Strategic Outlook
- 8.9.5 SWOT Analysis
- 8.10 Suzuki Motor Corporation
- 8.10.1 Business Overview
- 8.10.2 Financial Data
- 8.10.3 Product Landscape
- 8.10.4 Strategic Outlook
- 8.10.5 SWOT Analysis
- 8.11 Taiga Motor Inc.
- 8.11.1 Business Overview
- 8.11.2 Financial Data
- 8.11.3 Product Landscape
- 8.11.4 Strategic Outlook
- 8.11.5 SWOT Analysis
- 8.12 Yamaha Motor Co., Ltd.
- 8.12.1 Business Overview
- 8.12.2 Financial Data
- 8.12.3 Product Landscape
- 8.12.4 Strategic Outlook
- 8.12.5 SWOT Analysis