Asia Pacific power sports market to register gains of over 4.5% to 2025: Global Market Insights, Inc.
The power sports market growth in the APAC region is owing to several initiatives undertaken by the industry players to strengthen the sales and distribution channels of powersports automotive.
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Global Market Insights, Inc
Global Market Insights, Inc
Selbyville, Delaware , Sept. 05, 2019 (GLOBE NEWSWIRE) —
The rise of power sports market share during the forecast period is due to booming demand for outdoor recreational activities such as adventure parks, trails and other off-road activities. In developed countries like the U.S. and Australia, public lands are allotted to encourage ATV and snowmobile rides among youths.
For instance, Toowoomba Regional Council in Australia announced a grant of USD 27,000 in order to develop an off-highway motorcycle track in 2018. Similar initiatives being undertaken across various regions is further propelling global power sports market size. As a part of a promotional or marketing campaign, several automobile companies are encouraging racing activities among the youth.
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Competition prizes and a global exposure stimulate the sale of power sports equipment worldwide. The Australian Off-Road Vehicle Association had provided complimentary passes for UTV, ATV and off-road riding enthusiasts in 2017 to encourage people to use the vehicles. Additionally, increasing availability of varied models facilitated through numerous distribution channels, along with the availability of financial credit and other payment choices is providing impetus to global power sports industry outlook.
R&D to build more robust quad bikes as well as technological advancements in the field in order to facilitate efficiency and durability will steer the demand for the vehicles. The use of hybrid powertrains to achieve higher torque power and eliminate excessive noise has impacted global power sports market trends to some extent.
Government is levying several regulations and carrying out safety training programs in order to control the frequency of injuries and fatalities in sporting activities, influencing the global sales of powersports equipment and vehicles. Growing awareness about safety training and the use of safety gear have resulted from strict mandates in several countries, especially for drivers below the age of 16.
Personal watercrafts segment has gained widespread traction across global power sports market owing to reduced initial cost of these vessels when compared to other water-borne vehicles. Fuel efficiency and increased power-to-weight ratio are other pivotal characteristics bolstering the demand for personal watercrafts.
Personal watercrafts are witnessing robust deployment for coastal activities. For instance, Royal Gibraltar Police installed personal watercrafts in order to facilitate patrolling of local beaches and to enforce navigation regulations. The widening demand and scope for personal watercrafts in critical sectors such as coastal security will positively impact power sports market forecast.
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In terms of geographical expansion, Asia Pacific is expected to evolve as one of the most significant remuneration grounds for powersports. Growing deployment of ATVs and SSVs across the region is propelling the power sports market size. Several initiatives are being undertaken by the industry players to strengthen the sales and distribution channels of powersports automotive.
In 2018, North America accounted for over 60% share in the power sports market size with presence of major industry participants including Polaris Industries, BRP, Harley Davidson, and Arctic Cat. Vast presence of theme parks and public lands managed by the authorities including the U.S. Recreation and National Marine Manufacturers Association (NMMA) is promoting participation in off-road driving activities.
Europe holds substantial share in the powersports market size owing to increasing consumer spending and proliferating tourism industry. Presence of snowmobile trails and clubs will induce significant growth potential over the study timeframe. Further, supportive government initiatives for trail development in the countries such as Russia and Sweden will augment the industry size.
Browse key industry insights spread across 200 pages with 205 market data tables & 11 figures & charts from the report, “Power Sports Market Size By Vehicle (ATV, Side by Side Vehicles, Personal Watercrafts, Snowmobiles, Heavyweight Motorcycles), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/power-sports-market
Table of Contents (ToC) of the report:
Chapter 3. Power Sports Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2025
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.2. Manufacturers
3.3.3. Profit margin trends
3.3.4. Distribution channel analysis
3.3.5. Vendor matrix
3.4. Pricing analysis
3.4.1. Regional pricing
3.4.1.1. North America
3.4.1.2. Europe
3.4.1.3. Asia Pacific
3.4.1.4. Latin America
3.4.1.5. Middle East & Africa
3.4.2. Cost structure analysis
3.5. Regulatory landscape
3.5.1. North America
3.5.2. Europe
3.5.3. Asia Pacific
3.5.4. Latin America
3.5.5. Middle East & Africa
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. North America
3.6.1.2. Europe
3.6.1.3. Asia Pacific
3.6.1.4. Latin America
3.6.1.5. Middle East & Africa
3.6.2. Industry pitfalls & challenges
3.7. Innovation and sustainability
3.8. Growth potential analysis, 2018
3.9. Porter’s analysis
3.10. Competitive landscape, 2018
3.10.1. Company market share analysis, 2018
3.10.2. Strategy dashboard
3.11. PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/power-sports-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
