Powersports Market 2022 Overall Industry Size, Growth, Trends, Competitor Analysis & Forecast up to 2030
Powersports Market-Overview
The escalation in demand for ATVs, UTVs, and personal watercraft is predicted to transform the Powersports Market in 2022. The off-road vehicles, LCV, HCV reports are produced by Market Research Future, which features market options for expansion. Powersports Market is projected to be worth USD 30.35 Billion by 2030, registering a CAGR of 6.65% during the forecast period (2022–2030). The market was valued at USD 24,205,708.9 Thousand in 2025.
The inclination of individuals towards off-road leisure activities is estimated to steer the overall development of the Powersports market. Moreover, the integration of recreational activities such as bike riding and water sports in holiday destinations around the world is estimated to sway the global Powersports market share.
Key Players
Notable players in the global Powersports market are BRP, Textron Inc., Yamaha Motor Co. Ltd, Honda Motor Co. Ltd, Polaris Industries.
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Multiple Factors to Bolster Market Growth
The rapid acceptance of green products, as well as increased development of power sports electrification products by major manufacturers, are driving the powersports market value. Various government restrictions, the demand for environmentally friendly vehicles, and growing consumer awareness have driven manufacturers to design greener powersports products.
Various factors are focusing on increasing Powersports market share, including factors such as continuous global economic development, rising consumer spending, growing urban population, developing demand for boat restoration, rising investments in power sports products, increase in off-road recreational operations, increase in the development of outdoor recreational facilities such as larger trails, and so on.
The Global Market to Regain Stability Amid COVID-19 Pandemic
According to Powersports industry trends, the COVID 19 has had an impact on the global market. To counteract the negative impacts, countries have implemented lockdowns that have had a negative impact on the market. This market segment has been impacted by the pandemic. Companies’ annual budgets and preferences have changed as a result of the COVID-19 outbreak in order to survive the pandemic. Furthermore, corporations all around the world are substantially financing their operations in order to stay in business. Governments are giving financial packages to help businesses during this pandemic, with a focus on SMEs.
The COVID-19 pandemic has also increased adoption across industry verticals as users seek to capitalize on benefits like expansion and lower costs. Despite the worldwide economic slump, approximately half of subscription companies are expanding at a similar rate, with no negative impact from the COVID-19 pandemic.
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Segmental Analysis
The segmental study of the powersports market is segmented on the basis of application, model, vehicle type, and region. Based on the regions, the global powersports market has been segmented into Europe, Asia-Pacific, North America, and the rest of the regions in the world.On the basis of vehicle types, the powersports market has been segmented into heavyweight motorcycle, all-terrain vehicle, snowmobile, side by side vehicle, personal watercraft, and others. On the basis of application types, the powersports market has been divided into on-road and off-road. Based on the model types, the powersports market has been segmented into multi personal, sit down and stand up.
Detailed Regional Analysis
The regional review of the powersports market is carried on the basis of regions such as Europe, Asia-Pacific, North America, and the rest of the regions in the world. The principal market share of the regional market of North America is appraised to be amintained the through the forecast period, due to the occurrence of vital manufacturers operating in the region and the ease of access to several recreational amenities across the nations of the US and Canada.
Among the regions studied, in 2018, followed by the European and North American regions, the global market was led by the region of Asia-Pacific. Throughout the forecast period owing to the mounting demand for off-road UTVs, the European region is estimated to perceive substantial advance in the worldwide powersports market. The factors such as huge potential of the consumer base in the national markets of China and India, the collective funding in research and development, and mounting powersports attention is contributing to the powersports market growth.
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