Power sports market is bifurcated into off-road vehicles (ATVs & side-by-side vehicles), heavy-weight motorcycles, snowmobiles, and personal watercrafts. ATV or All-Terrain Vehicles is a vehicle that travels on low-pressure tires and is with a seat that is straddled by the operator. This vehicle is designed to handle a wider variety of terrain, for the purpose of sports and is also used for camping or hunting. The Side by Side is a small 2-person or 4 person four-wheel drive off-road vehicle.
A motorcycle is designed for long distance travel, navigating congested urban traffic, cruising, sport and racing, or off-road conditions. Six main categories of motorcycles include: cruiser, sport, touring, standard, dual purpose and dirt bike. A snowmobile is a land vehicle designed for winter travel on snow. These machines are designed in such a way that they do not require a specific road or trail. There are mainly five types of snowmobiles: entry level, performance, touring, mountain and utility. A personal water craft (PWC), also called water scooter, is a recreational watercraft that the rider rides or stands on, rather than inside of, as in a boat. On the basis of their method of operation and seating capacity, the personal watercrafts are of the following three types: stand-up models, sit-down models and multi-person models.
North America is the largest market for ATVs representing more than two-thirds of the market. In North America, the US accounts for the largest share followed by Canada. Also, in snowmobile segment, the US and Canada are the major regions globally accounting for more two-thirds of the market share. In motorcycle segment, the sales in North America improved after the global economic recession. The sales of PWC in the US have showed improvement after undergoing a huge loss due to global economic recession.
The growth drivers for power sports market are increasing global GDP since improving economic condition is encouraging people to spend more money on this market. Also increasing urban population is driving the market. Major challenges faced by this market include the increasing number of deaths and injuries taking place due to ATVs. The key trends observed within the market include age and income of snowmobilers, price of snowmobiles in North America and cost of PWC in the US.
The present report offers a comprehensive analysis of the worldwide power sports market. The competition in the market is intense with few large players’ viz. Honda Motor, Yamaha Motor, Polaris industries, Harley Davidson and Arctic Cat with major player being Polaris for both ATV and Side-by-Side vehicle. The report also includes the company profiles of the leading players in the market.