Table of Contents
The power sports industry mainly includes recreational and utility oriented vehicles and is a lifestyle based industry. It includes all-terrain vehicles (ATVs), side-by-side vehicles (SxS), snowmobiles, motorcycles, and powerboats/personal water crafts (PWC). The power sports industry is extremely reliant on macro-economic factors like high standard of living, increasing customer self-reliance levels, credit availability at an ease, unemployment rate, and the health of the housing market. The market is mainly concentrated in the region of North America, the US and Canada, in particular.
The key factors which are anticipated to drive market growth include increased replacement demand for boats, increasing spending rate on power sports products, continuous global economic development, and growing urban population. Some of the noteworthy industry trends and developments include Polaris surpassing Honda in ATV market, cannibalization of ATVs by side-by-side vehicles, more youngsters opting for recreational boating, power sports industry players embracing upon shopatron technology, and uneven recoveries in boat segments. However, the industry remains threatened by certain challenges which include increasing boomer age, related environmental issues, and unfavorable weather conditions.
The report provides a comprehensive study of global power sports market and also major regional markets on the basis of various segments. The competition in the global power sports market is highly fragmented with large players like Polaris, Honda, Yamaha, and Harley. All these companies have been profiled in the present report highlighting their key financials and business strategies for growth.
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