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Global Power Sports Market to Move Forward with an Optimistic Outlook
Date: 15 September 2017

Power sports market is broadly categorized under four types namely off-road vehicles which further includes all terrain vehicles (ATVs) & side-by-side vehicles, snowmobiles, motorcycles and personal watercrafts. These vehicles have high powered engines and also includes the use of handle bars to control the movement. Power sports vehicles have become very common in today’s world as they are largely used for recreational activities. The use of these vehicles in utility activities like agriculture and military has also increased dynamically.

 

Although, the primary use of these vehicles is in fun activities that if often taken up by families as a part of their leisure time, but these vehicles also fulfil other useful functions. They form an important part of any economy because of their large economic benefits. Power sports vehicles demand largely come in from high net worth individual who can afford these vehicles and their high maintenance costs.

 

The US power sports market accounts for the largest market because of its strong market dynamics, high per capita income and great scope of innovation in the region. The global power sports market growth will be driven by optimistic business outlook, increased new power boat sales, rise in outdoor participation, and economic growth.

 

The major trends of the market includes technological advancements, and introduction of next generation engines. However, the market will be hindered by uncertain political environment and high maintenance cost of vehicles. Also, the competition of the market will be largely dominated by generalist firms.

 

The research report, “Global Power Sports Market (ATV, SSV, Snowmobiles, Motorcycles & PWC): Industry Analysis & Outlook: 2017 Edition” by Koncept Analytics provides an extensive research and detailed analysis of the market performance at present and future outlook of the global and regional market.

 

 
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