Press release
Comprehensive Power Sports Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034
Power Sports Market
The surge in sports engagements is anticipated to stimulate the expansion of the power sports market in the future. Sports engagements could range from participation in sports in any form, be it coaching, refereeing, or participating in practises and competitions. The escalating popularity of power sports is largely due to their exhilarating experiences and association with outdoor recreational activities which consequently boosted the demand for them. For example, records from the Australian Government's Department of Health and Aged Care in January 2023 show that more than 90% of adults enjoyed sport participation. Each year, athletics accommodates three million youngsters and nearly 13 million adults. Furthermore, 3.1 million Australians volunteer themselves in sports and active leisure annually. This amplify in sports engagements is thus patronizing the expansion of the power sports market.
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What Is the projected market size and growth rate for the power sports market?
In recent times, the power sports market has seen robust growth. Expected to expand from $35.24 billion in 2024 to $37.53 billion in 2025, its compound annual growth rate (CAGR) is predicted to be 6.5%. This growth during the historic period is due to the increasing demand for outdoor and recreational pursuits, the rising popularity of off-road and adventure sports, the expansion of motorsports and racing, the advancement of high-performance vehicles, and the regulatory standards for safety and emissions.
It is anticipated that a robust growth will be seen in the power sports market in the forthcoming years. The market is projected to expand to a size of $50.1 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 7.5%. The expected surge during the forecast period is attributed to the demand for customised power sports vehicles catering to specific needs, proliferation of electric and environmentally-friendly options, increase in electric motorcycles and e-bikes, innovation in autonomous and intelligent vehicles, and their heightened usage in urban mobility solutions. Key trends for the forecast period consist of electric and hybrid power sports vehicles, adherence to regulatory norms in the power sports safety sector, smart and interconnected power sports experiences, autonomous and semi-autonomous power sports, and customised power sports experiences including rentals.
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What new trends are reshaping the power sports market and its opportunities?
Prominent companies in the power sports industry are keen on introducing cutting-edge technologies like safety and driver-assistive systems in an effort to mitigate fatalities from traffic accidents and increase collision prevention, thus boosting consumer demand and consolidating their market presence. These systems include innovations designed to aid drivers in safely operating their vehicles, such as sensors and cameras that can detect obstacles and prevent collisions. For example, in November 2022, Honda Motor Co., Ltd., a Japan-centered corporation recognized for automobile, motorcycle, and power equipment manufacturing, announced upgrades to its Honda Sensing 360 and Honda Sensing Elite advanced safety and driver assistance systems. The Honda Sensing 360 system is an advanced version of the firm's existing ADAS, featuring additional sensors that provide a panoramic overview of the vehicle's environment. The revised Honda Sensing 360 system is expected to be included as standard in all new Honda and Acura vehicles sold in the US by 2030.
What major market segments define the scope and growth of the 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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Which region dominates 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.
Which key market leaders are driving the power sports industry growth?
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
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What Is Covered In The Power Sports Global Market Report?
•Market Size Forecast: Examine the power sports market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the power sports market for a structured understanding.
•Key Players Overview: Analyze major players in the power sports market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the power sports market.
•Segment Contributions: Evaluate how different segments drive overall growth in the power sports market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the power sports market.
•Industry Challenges: Identify potential risks and obstacles affecting the power sports market.
•Competitive Landscape: Review strategic developments in the power sports market, including expansions, agreements, and new product launches.
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