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Global Powersports Market to Grow at a CAGR of 5.60% During 2024-2032, Aided by the Popularity of Adventure Sports and Increased Spending on Recreational Activities

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Powersports Market

Global Powersports Market Share, Size, Growth, Forecast: By Vehicle Type: All-terrain Vehicles (ATV), Side-by-side Vehicles, Snowmobiles, Personal Watercraft, Heavyweight Motorcycle; By Application: On-road, Off-road; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Powersports Market Outlook

The global powersports market size reached an approximate value of USD 9.80 billion in 2023. The global market is expected to grow at a CAGR of 5.60% during the forecast period of 2024-2032, aided by the growing demand for off-road tourism and developmenst of new tourist routes for powersport vehicles.

 

Global Powersports Market Key Trends

Powersports is a subcategory of motorsports that involves vehicles such as motorcycles, ATVs, snowmobiles, and PWCs. One the distinguishing characteristics of this sport includes the use of handlebars on the vehicles and the rider mounts on the machine instead of going inside, and the rider is exposed to the weather.

 

  • The market for powersports is expected to grow during the forecast period owing to the rising popularity of ATVs. These machines are easier to manoeuvre and have lower age restrictions compared to other vehicles.
  • Developed regions, such as North America and Europe, are increasingly investing in the development of new recreational areas and increasing the number of ATVs paths in parks and beaches. Their affordability can significantly enhance the market growth.
  • The rising popularity of snowmobile tourism is expected to augment the market values they are increasingly being promoted by travel bureaus, trail maps, and travel guides.

 

Global Powersports Market Analysis

Based on vehicle type, the market can be segmented into all-terrain vehicles (ATV), side-by-side vehicles, snowmobiles, personal watercraft, and heavyweight motorcycles. Based on application, it can be bifurcated into on-road and off-road. The regional markets for the powersports market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.

 

  • Polaris Inc.
  • Arctic Cat Inc.
  • Bombardier Recreational Products Inc.
  • Suzuki Motor Corporation
  • Yamaha Motor Co., Ltd.
  • Kawasaki Motors, Ltd.
  • Others

 

Types of Vehicles Used in the Powersports Market

Based on vehicle type, the market bifurcations include all-terrain vehicles (ATV), side-by-side vehicles, snowmobiles, personal watercraft, and heavyweight motorcycles. The personal watercraft segment is expected to hold a significant share of the market during the forecast period. These machines provide a high level of power while being environmentally friendly. They are also widely used by younger and older people alike as they are manufactured to ensure the safety of the rider with the addition of features such as engine cut-off lanyards. This feature activates to ensure that the engine gets turned off in case the rider leaves the control and is separated from the vehicle. These factors can enhance the market growth.

 

Applications of Powersports

Based on application, the market segments can include on-road and off-road. The off-road segment is expected to dominate the market owing to its sturdiness and capability of being driven on different types of terrain. Due to their increased manoeuvrability in tight spaces, they are increasingly being implemented in forest rides.

 

With the increasing developments in ATVs by key players and expanding their presence to emerging regions, the market is likely to grow further in size.

 

powersports market by region

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Competitive Landscape

Polaris Inc. is an automotive manufacturing company based in Minnesota, United States. The company is comprised of multiple brands of off-road, on-road, marine, and aftermarket products. It specializes in the manufacturing of motorcycles, snowmobiles, all-terrain vehicles, and neighbourhood electric vehicles. The has a wide market presence with operations in various countries including the UK, Germany, Australia, Sweden, France, Canada, Brazil, Mexico, United Kingdom, China, India, and Norway.

 

Arctic Cat Inc. is an American automotive company with a focus on manufacturing off-road vehicles. The company's headquarter is located in Minnesota, United States, and it was founded in 1960. It was acquired by Textron in 2017 and the designing and manufacturing processes were handed over to Textron Specialised Vehicles. The products of the company include ATVs, side-by-side vehicles, and snowmobiles.

 

Kawasaki Motors, Ltd. is a motor vehicle manufacturing and distributing company. It is the sole division of Kawasaki company that can provide its products directly to general customers. It is a part of Kawasaki Heavy Industries, which was founded in 1896. The company is headquartered in Tokyo, Japan, and distributes its products in numerous countries around the world. The company is involved in manufacturing a broad range of products including motorcycles, off-road vehicles, watercraft vehicles, and jet skis, among other automotive products.

 

Other key players in the market include Bombardier Recreational Products Inc., Suzuki Motor Corporation, and Yamaha Motor Co., Ltd., among others.

 

Key Highlights of the Report

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:

  • Vehicle Type
  • Application
  • Region
Breakup by Vehicle Type
  • All-terrain Vehicles (ATV)
  • Side-by-side Vehicles
  • Snowmobiles
  • Personal Watercraft
  • Heavyweight Motorcycle
Breakup by Application
  • On-road
  • Off-road
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Polaris Inc.
  • Arctic Cat Inc.
  • Bombardier Recreational Products Inc.
  • Suzuki Motor Corporation
  • Yamaha Motor Co., Ltd.
  • Kawasaki Motors, Ltd.
  • Others

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Powersports Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Powersports Historical Market (2018-2023) 
    8.3    Global Powersports Market Forecast (2024-2032)
    8.4    Global Powersports Market by Vehicle Type
        8.4.1    All-terrain Vehicles (ATV)
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2023)
            8.4.1.3    Forecast Trend (2024-2032)
        8.4.2    Side-by-side Vehicles
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2023)
            8.4.2.3    Forecast Trend (2024-2032)
        8.4.3    Snowmobiles
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2023)
            8.4.3.3    Forecast Trend (2024-2032)
        8.4.4    Personal Watercraft
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2023)
            8.4.4.3    Forecast Trend (2024-2032)
        8.4.5    Heavyweight Motorcycle
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2018-2023)
            8.4.5.3    Forecast Trend (2024-2032)
    8.5    Global Powersports Market by Application
        8.5.1    On-road
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2023)
            8.5.1.3    Forecast Trend (2024-2032)
        8.5.2    Off-road
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2023)
            8.5.2.3    Forecast Trend (2024-2032)
    8.6    Global Powersports Market by Region
        8.6.1    North America
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2023) 
            8.6.1.3    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2023) 
            8.6.2.3    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2023) 
            8.6.3.3    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2023) 
            8.6.4.3    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2018-2023) 
            8.6.5.3    Forecast Trend (2024-2032)
9    North America Powersports Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2023) 
        9.1.3    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2023) 
        9.2.3    Forecast Trend (2024-2032)
10    Europe Powersports Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2023) 
        10.1.3    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2023) 
        10.2.3    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2023) 
        10.3.3    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2023) 
        10.4.3    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Powersports Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2023) 
        11.1.3    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2023) 
        11.2.3    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2023) 
        11.3.3    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2023) 
        11.4.3    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2023) 
        11.5.3    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Powersports Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2023) 
        12.1.3    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2023) 
        12.2.3    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2023) 
        12.3.3    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Powersports Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2023) 
        13.1.3    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2023) 
        13.2.3    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2023) 
        13.3.3    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2023) 
        13.4.3    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Polaris Inc.
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Arctic Cat Inc.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Bombardier Recreational Products Inc.
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Suzuki Motor Corporation
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Yamaha Motor Co., Ltd.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Kawasaki Motors, Ltd.
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Powersports Market: Key Industry Highlights, 2018 and 2032
2.    Global Powersports Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
3.    Global Powersports Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
4.    Global Powersports Historical Market: Breakup by Application (USD Million), 2018-2023
5.    Global Powersports Market Forecast: Breakup by Application (USD Million), 2024-2032
6.    Global Powersports Historical Market: Breakup by Region (USD Million), 2018-2023
7.    Global Powersports Market Forecast: Breakup by Region (USD Million), 2024-2032
8.    North America Powersports Historical Market: Breakup by Country (USD Million), 2018-2023
9.    North America Powersports Market Forecast: Breakup by Country (USD Million), 2024-2032
10.    Europe Powersports Historical Market: Breakup by Country (USD Million), 2018-2023
11.    Europe Powersports Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Asia Pacific Powersports Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Asia Pacific Powersports Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Latin America Powersports Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Latin America Powersports Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Middle East and Africa Powersports Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Middle East and Africa Powersports Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Global Powersports Market Structure

Key Questions Answered in the Report

What was the market size of the powersports market in 2023?

The global market for powersports reached a size of USD 9.80 billion in 2023.

What will be the powersports market growth rate during 2024-2032?

The market is expected to grow at a CAGR of 5.60% during the forecast period of 2024-2032.

Which major powersports market drivers are propelling the market growth?

The market is driven by the growing demand for off-road tourism and the increasing utilisation of ATVs in parks and tourist spots due to their low age restrictions and user safety.

What are the key trends in the global powersports market?

The increasing technological developments to improve the safety of powersports vehicles and the rising popularity of snowmobiles in tourism can deliver new growth opportunities to the market.

What are the major regional markets?

The regional markets for the market include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

Who are the vehicle types for powersports in the market?

The vehicle types for powersports include all-terrain vehicles (ATV), side-by-side vehicles, snowmobiles, personal watercraft, and heavyweight motorcycle.

Who are the applications in the powersports market?

The applications of powersport vehicles include on-road and off-road.

Who are the key market players, according to the report?

The key players in the market include Polaris Inc., Arctic Cat Inc., Bombardier Recreational Products Inc., Suzuki Motor Corporation, Yamaha Motor Co., Ltd., and Kawasaki Motors, Ltd., among others.

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