Press release
Power Sports Market Forecast to 2027: Global Industry Key Players, Size, Share, Competitive, and Key Country Analysis
Key Companies Studied In this report:
Honda Motor, Yamaha Motor, Polaris industries, Harley Davidson and Arctic Cat. Polaris.
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Market Overview:
Power Sports Market: 2018 Information by Terrains (All Terrain Vehicles and Side by Side), by Models (Stand Up, Sit Down and Multi personal Models), Global Forecast 2027. The power sports industry comprises recreational and utility oriented vehicles and is leisure and lifestyle based industry. The industry includes off-road Vehicles (ORVs), including all-terrain vehicles (ATVs) and side-by-side vehicles (SxS), snowmobiles, motorcycles, and personal water crafts (PWC).
Power sports are a subset of the summed up classification motorsports. Case of power sports vehicles are bikes, ATVs, snowmobiles and PWCs. One of the characterizing components of any power sport is the utilization of a engine, some way or the other. With the increasing popularity the Power Sports segment is going to witness a significant growth in the forecasted period.
Competitive Analysis of Power Sports Market:
The competition in the global power sports market is dominated by the three big players, Arctic Cat, Polaris Industries Inc., and Yamaha Motor Co. Ltd. The industry is highly competitive in nature with all divisions operating in a highly consolidated structure. Every key market player conducts a analysis of their business & financial overview and business strategies.
Heavy R&D expenditure for up gradation of technologies is carried out by major industry players. The drive to expand product features including minimal maintenance, enables them to remain competitive in the industry. The companies are coming up with modern technologies and product launch to capture this growing industry.
The key components expected to drive the market growth include increased replacement demand for boats, expanding spending rate on power sports products, constant worldwide economic development, and developing urban population.
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Power Sports Market – Segmentation
1.The Power Sports Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
2.Segmentation by Terrains - All Terrain Vehicles and Side by Side
3.Segmentation by Models - Stand Up, Sit Down and Multi personal Models
4.Segmentation by Regions: North America, Europe, APAC and Rest of the World.
Regional Analysis:
The market is mainly concentrated in the region of North America (the US and Canada) and Europe in particular. North America led the global power sports market. In snowmobile vehicle segment, the North America region is the largest industry player owing to high demands in adventurous sporting. The sales of motorcycle and PWC segments significantly improved after the global economic recession in the region.
In the US, California Air Resources Board (CARB) governs the vehicle emission regulations to curb air pollution. This law states that all the All-Terrain Vehicles (ATV) must demonstrate efficient exhaust and vehicle emission control systems along with well stated CARB emission standards.
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