Online Powersports Market Growth Analysis | 2023-2028

Market Insights

The online powersports market was estimated at USD 5.67 billion in 2022 and is likely to grow at a CAGR of 4.54% during 2023-2028 to reach USD 7.42 billion by 2028.

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What are online powersports?

Powersports are basically a subdivision of the generalized category motorsports. There are various types of vehicles in powersports, such as all-terrain vehicles, snowmobiles, and personal watercrafts.

Key Players

Top key players in the global online powersports market are-

• Arctic Cat, Inc.
• Bombardier Recreational Products
• Cycle Works Motorsports Limited
• Harley Davidson
• Honda Motor Co., Ltd.
• Kawasaki
• Louis Powersports
• Polaris Inc.
• RideNow Powersports
• Yamaha Motor Co. Ltd.

Market Dynamics

Increasing number of off-road vehicles across various industry verticals, growing number of water sports events globally, and growing usage of online platforms related to power sports purchases are some of the key factors fueling the online powersports market growth during the forecast period.

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Segments Analysis

By Vehicle Type

Based on the vehicle type, the market is segmented as all-terrain vehicle, side-by-side vehicle, personal watercraft, snowmobile, and heavyweight motorcycle. All-terrain vehicle type is expected to be the leading vehicle type during the forecast period owing to the increasing number of racing competitions and trends. Further, easy maneuverability provided by all-terrain vehicles, low weight, robust construction and moderate driving age restrictions, increasing number of training centers for providing complete knowledge about driving and safety are some of the other factors boosting the segment’s growth during the forecast period.

Regional Analysis

In terms of regions, North America is estimated to account for the major share of the market during the forecast period owing to increasing investments in the development of recreational infrastructure. Factors such as favorable policies and government investments on recreational infrastructure and growing private sector investments in the development of new theme parks and watersports activities are further expected to provide lucrative growth opportunities in the regional market over the forecast period. Asia-Pacific and Europe are also estimated to offer substantial growth opportunities during the forecast period.

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Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the global online powersports market.

The online powersports market is segmented into the following categories:

By Vehicle Type:

• All-terrain Vehicle
• Side-by-side Vehicle
• Personal Watercraft
• Snowmobile
• Heavyweight Motorcycle

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the global market.

What Deliverables Will You Get in this Report?

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the vehicle types by region type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.