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What fueled the previous growth in the power sports market?

In recent times, the dimension of the power sports market has seen a robust expansion. It is projected to swell from $35.24 billion in 2024 to $37.53 billion in 2025, showing a compound annual growth rate (CAGR) of 6.5%. This expansion over the historical phase can be credited to factors such as the burgeoning demand for outdoor recreation and leisure activities, rise in off-road and adventure sports, broadening of motorsports and racing arenas, invention of high-performance vehicles, and stringent regulations concerning safety and emission standards.

What will be the power sports market size in the future?

Projected strong growth in the next several years suggests an expansion of the power sports market size to $50.1 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 7.5%. Factors contributing to this growth during the forecast period include the tailoring of power sports vehicles to meet specific requirements, the advent of electric and environmentally-friendly alternatives, growth in the realm of electric motorcycles and e-bikes, and innovative strides in self-driving and intelligent vehicles. Alongside these, increased utilisation in urban mobility solutions also contributes to this growth. Major trends expected during this forecast period range from electric and hybrid power sports vehicles, regulatory compliance in power sports safety, and smart, connected power sports experiences, to self-driving and semi-autonomous power sports, customised power sports experiences, and rentals.

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What main drivers are fueling expansion in the power sports market?

The surge in sporting activities is predicted to boost the expansion of the power sports market in the future. Sporting activities refer to any involvement in sports, such as coaching, refereeing, practicing, or competing. The escalating appeal of power sports, attributable to exhilarating experiences and outdoor leisure pursuits, has resulted in a heightened demand for these sports. For instance, as reported by the Australian Government’s Department of Health and Aged Care in January 2023, over 90% of adults in Australia found pleasure in partaking in sports. Yearly, three million youth and nearly 13 million adults engage in athletic activities. Furthermore, around 3.1 million Australians volunteer for sports and active recreations annually. Thus, the increase in sporting activities is fueling the growth of the power sports market.

What key areas define the segmentation of the global power sports market?

The power sports market covered in this report is segmented –

1) By Vehicle Type: All-Terrain Vehicle, Side-By-Side Vehicle, Personal Watercraft, Snowmobiles, Heavyweight Motorcycle

2) By Model: Multi Personal, Sit Down, Stand Up

3) By Application: On-Road, Off-Road

Subsegments:

1) By All-Terrain Vehicle (ATV): Utility ATVs, Sport ATVs, Youth ATVs

2) By Side-By-Side Vehicle (SxS): Utility SxS, Sport SxS, Recreational SxS

3) By Personal Watercraft (PWC): Sit-Down PWCs, Stand-Up PWCs

4) By Snowmobiles: Mountain Snowmobiles, Trail Snowmobiles, Crossover Snowmobiles, Utility Snowmobiles

5) By Heavyweight Motorcycle: Cruisers, Touring Motorcycles, Adventure Motorcycles, Sport Motorcycles

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Who are the dominant players expanding their reach in the power sports market?

Major companies operating in the power sports market include Polaris Inc., Kawasaki Heavy Industries Motorcycle & Engine Company, Yamaha Motor Co. Ltd., Honda Motor Company Ltd., Suzuki Motor Corporation, Harley-Davidson Inc, Kubota Corporation, Kymco, Arctic Cat Inc., Bombardier Recreational Products Inc., Textron Inc., Ducati Motor Holding S.p.A., Triumph Motorcycles Ltd, Feishen Group, Zero Motorcycles Inc, Hisun Motors Corp, American Honda Motor Co., KTM AG, BMW Motorrad, Piaggio & C. SpA, CFMOTO Powersports Inc, Deere & Company, Mahindra & Mahindra Ltd., Caterpillar Inc, J.C. Bamford Excavators Ltd., Komatsu Ltd., Atturo Tire Corporation, Logan Powersports Group, Sportech Inc., STR Motorsports

How are evolving market trends shaping power sports Strategies?

Leading firms in the power sports domain are prioritizing the introduction of cutting-edge technologies such as safety and driver-assistance systems to minimize fatalities from traffic accidents and boost collision prevention, thereby increasing customer demand and solidifying their market positions. The term safety and driver-assistance systems applies to technological solutions that aid drivers in safely managing a vehicle, encompassing sensors and cameras designed to identify hazards and prevent crashes. For example, in November 2022, Honda Motor Co., Ltd., a Japan-based car, motorcycle, and power equipment manufacturer, declared upgrades to the Honda Sensing 360 and the Honda Sensing Elite, its high-tech safety and driver assistance systems. The Honda Sensing 360 system is an enhanced variant of the company’s current advanced driver assistance systems (ADAS), equipped with additional sensors providing a comprehensive 360-degree view of the vehicle’s environment. The revised Honda Sensing 360 system is set to become standard on all new Honda and Acura vehicles available in the United States by 2030.

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Which regions are emerging as leaders in the power sports market?

North America was the largest region in the power sports market in 2024. The Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the power sports market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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