Power Sports Market Set to Expand by 2020-2027 Focusing on Key Players Arctic Cat Inc., Bombardier Recreational Products

Power Sports Market Outlook 2027 -

Powers sports is a part of motorsports and are most common vehicles in X-games. Power sports vehicles include the use of handlebars to control movement and mounting of the rider. Power sports product includes motorcycles, scooters, dirt bikes, ATVs, UTVs, personal watercraft, jet boats, and snowmobiles. One of the characterizing components of any power sport is the utilization of an engine, some way or the other. With the increasing popularity, the demand of power sports is increasing rapidly. Thereby, resulting in the significant growth of the power sports segment during the forecasted period.

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COVID-19 SCENARIO ANALYSIS

With restricted movement of populations around the world, as well as complete lockdown in several countries, including India, the manufacturing sector is likely to be affected by the economic fallout from the pandemic.

This dramatic spread has led to sports events across the globe being cancelled and many professional leagues being suspended or postponed.

Covid-19 had a significant impact on not only the fans of these sports, but also those working in the industry and even the economies of entire nations.

This dossier provides insight into the potential economic impact of the coronavirus on various sports and events, as well as public opinion on the virus impact on sport.

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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

The factors that drive the growth of the power sports market include are increasing participation and spending in off road recreational activities and high investments and innovations. However, high power sports vehicle cost and low investment capabilities restrain the market growth. On the contrary, increasing popularity and technological advancements provide lucrative opportunity for the market expansion.

Increasing participation and spending in off road recreational activities

Rising construction of outdoor recreational facilities leads to the increasing demand of the power sports market. Some of those activities are theme parks, wilderness areas, and others. Moreover, policies formed by government and private investments for the development of recreational areas increases its demand. This increasing demand leads to the growth of the market in near future.

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High investments and innovations

Growth in investments and rapid innovations in the automotive sector has resulted in improved performance of power sports vehicles. Resulting in improved vehicle efficiency and reduced noise and high power of the vehicles. This leads to the growth of the power sports market in near future.

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