Press Release
Press Release
The market growth of powersports can be attributed to the rising popularity of motorsports and adventure sports. This popularity is not just restricted to watching as spectators but also to active participation in sports. Increasing disposable income, coupled with rising spending power on recreational activities, is supporting the demand for powersports vehicles.
Changes in cultural and lifestyle trends, such as the growing popularity of outdoor activities, extreme sports, and adventure tourism, are also positively impacting the powersports market growth. Further, advancing technology and designs like improvements in engine efficiency, lightweight materials, and features like advanced suspension systems, GPS navigation, and connectivity options are supporting the market. This is attracting consumers looking for enhanced performance and a better overall riding experience.
North America is one of the leading contributors to the market growth. Factors such as favourable weather conditions, increasing establishment of recreational clubs, and growing consumer expenditure on recreational activities have made powersports a well-desired sport.
Further, leading companies such as Polaris Inc. (NYSE: PII) and Radio Flyer are increasingly launching newer and advanced power sports models to capitalise on their growing demand. For instance, In November 2023, Radio Flyer launched the revised model of CPSC-compliant Model 915. The latest version is battery-powered and includes several product updates, including the replacement of the rear spring with a steel tube with rubber-coated metal inserts that secure the rear frame to the main frame.
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The major players in the global powersports market are Polaris Inc., Arctic Cat Inc., Bombardier Recreational Products Inc., Suzuki Motor Corporation, Yamaha Motor Co., Ltd., and Kawasaki Motors, Ltd. among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Vehicle Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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