Powersports Market

Powersports are a subset of the summed-up classification motorsports. Powersports product includes motorcycles, scooters, dirt bikes, ATVs, UTVs, personal watercraft, jet boats, and snowmobiles. One of the characterizing components of any power sport is the utilization of an engine, some way or the other. With the increasing popularity, the powersports segment is projected to witness significant growth over the forecasted period.

The global powersports market sized at 1,982.77 thousand units in 2018 and is expected to reach 2,417.82 thousand units in 2025 with a compound annual growth rate (CAGR) of 3.06% during the forecast period. In 2018, the market was led by North America, with a 55.47% share, followed by Europe and Asia-Pacific with shares of 19.73% and 20.41%, respectively.

The powersports market has been segmented based on type, application, model, and region. On the basis of type, the heavyweight motorcycle segment dominated the market with a share of 39.58%, sized at for 784.71 thousand units in 2018; it is projected to grow at a CAGR of 2.65% during the forecast period. On the basis of application, the off-road segment dominated the market with a share of 54.11%, sized at for 1,072.83 thousand units in 2018; it is projected to grow at a CAGR of 3.13% during the forecast period. On the basis of model, the sit-down segment dominated the market with a share of 90.99%, sized at for 1,804.02 thousand units in 2018; it is projected to grow at a CAGR of 3.07% during the forecast period.