Press release
Power Sports Market 2020 How the Business Will Grow in 2026? Prominent Players: Polaris Industries, Honda Motor, Yamaha Motor, Harley Davidson, Arctic Cat, BRP, John Deere, Kubota
Governments across the globe are undertaking several initiatives to promote vehicle safety, which may further encourage people to indulge in recreational activities. Rising construction of outdoor recreational facilities, such as wilderness trails and theme parks will positively influence industry growth.
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Moreover, increasing public and private investments for the development of recreational infrastructure will create a conducive environment for the expansion of power sports industry over the coming years. In terms of revenue, power sports market size is set to surpass USD 50 billion by 2026.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Polaris Industries
2. Honda Motor
3. Yamaha Motor
4. Harley Davidson
5. Arctic Cat
6. BRP
7. Suzuki Motors
8. John Deere
9. Kawasaki Motors
10. Kubota
11. Kymco
Customer preference for autonomous vehicles and driver-assisted technologies are prompting manufacturers in the industry to modify conventional power sports vehicle offerings. Moreover, introduction of electric systems and machine learning is further encouraging power sports vehicle manufacturers to innovate their product offerings by incorporating electric and eco-friendly features.
Governments of various countries are actively involved in upgrading the existing trails and commissioning new trails for supporting recreational activities. Increasing investments towards maintenance and upgradation of recreational centers will positively influence the power sports market growth. For instance, the Ministry of Culture, Sport & Parks inaugurated snowmobile and ATV trails in the Moose Mountain Provincial Park in 2016. With the National Trains Coalition, the government of Saskatchewan invested over USD 250,000 for the project. The investment is aimed at attracting off-roading enthusiasts for sports and recreational activities.
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Manufacturers in the power sports market are continuously developing new products with advanced capabilities. They are also focusing on introducing environment-friendly variants owing to growing demand for eco-friendly power sports vehicles to cut down upon harmful emissions. Also, in a bid to comply with environment regulations, these companies are offering alternative engines, such as electric or gas-based models.
Power sports vehicles are priced at lower range in APAC countries due to cheap labor, low manufacturing costs, as well as availability of low tax options. Regional governments are undertaking several projects for the development of off-road and recreational infrastructure, which may further fuel the demand for power sports vehicles, hence favoring power sports market growth through 2026.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights
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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