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Power Sports Market Trends

Report ID: GMI1688
Published Date: Jun 2024
Report Format: PDF

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Power Sports Market Trends

The power sports industry is propelled by the increasing adoption of electric powertrains and a growing emphasis on eco-friendly practices. Manufacturers are embracing electric technologies to reduce emissions and environmental impact. This trend aligns with consumer preferences for sustainable options, driving demand for electric vehicles across various power sports segments. As environmental consciousness grows, the industry's shift towards eco-friendly practices continues to shape the market landscape, fostering innovation and sustainability.

For instance, in March 2024, Goa-based startup Powerland introduced India's inaugural road-legal electric ATV, the Powerland Tachyon 4x4. Certified under India's electric tractor category, it marks a significant milestone in the country's electric vehicle landscape.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of power sports reached USD 37.8 billion in 2023 and is set to witness 6% CAGR between 2024 and 2032, attributed to the rising popularity of adventure sports activities and the shift towards eco-friendly electric powertrains.

The gasoline segment held over 68% revenue share 2032, driven by versatility and robust performance for attracting diverse enthusiasts with unmatched power and agility.

North America market accounted for 49% revenue share in 2023, owing to robust infrastructure, a flourishing economy, and the strong culture of recreational activities.

BMW, BRP, Inc., CFMOTO, Harley Davidson, Hisun Motors, Kawasaki Corporation, Piaggio Group, Polaris, Inc., Suzuki Motor Corporation and Yamaha Motor Co., Ltd.