Power Sports Accessories Market Analysis

Power Sports Accessories Market Analysis

Based on sales channel, the market is categorized into online and offline. In 2023, the offline segment accounted for a market share of around 65%. Despite the growth of e-commerce, offline sales in the market are growing. Physical retail stores offer customers the ability to examine and test products firsthand before buying, while knowledgeable staff provide expert advice and guidance.
 

Offline channels also provide the benefits of immediate product availability and easy return or exchange options, catering to those who value instant gratification and personalized service. These factors are driving the market and are expected to contribute to market growth during the forecast period.
 

Based on vehicles, the power sport accessories market is divided into ATV, UTV, snowmobiles, personal watercraft, and heavyweight motorcycles. In 2023, the heavyweight motorcycles segment accounted for a market share of 42%. Enthusiasts who crave powerful and exhilarating riding experiences are drawn to high-performance models. Additionally, the availability of customization options and aftermarket accessories allows riders to personalize bikes, further fueling demand.
 

Also, the heavyweight motorcycle companies are expanding in different geographies which would enable market growth. In July 2024, Norton Motorcycles, announced its plans to launch motorcycles in India and introduce six new models globally over the next three years. The company aims to expand its presence in market including the US, Germany, France, Italy, and India.
 

Further, technological advancements, such as enhanced braking systems and rider-assist features play a role in the growing appeal and expansion of the heavyweight motorcycles segment in the market.
 

North America dominated the global power sports accessories market with a major share of over 39% in 2023 due to its strong culture of outdoor activities and recreational sports, with a high number of enthusiasts for activities such as off-roading, motocross, and snowmobiling. The region boasts a large base of power sports enthusiasts and substantial disposable income, driving demand for high-performance accessories.
 

Additionally, North America’s advanced infrastructure and extensive dealer networks support robust distribution and sales. For instance, Polaris and Harley-Davidson cater to a significant market with a wide range of accessories. Moreover, frequent motorsports events and competitions in the region further stimulate market growth.