Power Sports Market Trends, Analysis & Forecast, 2032

Power Sports Market is projected to cross USD 37 Bn by 2032. 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.

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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.

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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.

Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Power sports industry 3600 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

 

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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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