Power Sports Market 2021-2027; Growth Forecast & Industry Share Report

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Power Sports Market to Amass Remarkable Returns
Over 2021-2027
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Industry Insights

• The global power sports market size has witnessed
  a notable expansion due to the surging trend of
  electrification in the sector. The rise in carbon
  emission rate globally has triggered the need to
  adopt sustainable solutions supported by strict
  regulations by the government further
  supplementing the need for electric power sports
  vehicles in various parts of the world.
• Owing to the coronavirus outbreak, the power
  sports industry has faced tremendous challenges
  due to the domestic and international travel
  restrictions imposed by the governments to
  control the spread of the infection. This has led
  to a decline in the accessibility of raw
  materials. However, gradual relaxations in order
  to revive the economy in the form of leniency in
  lockdown and the permission to travel to certain
  locations with a negative RT-PCR test will
  support the market growth.

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• Reports estimate that the global power sports
  market size could cross USD 50 billion through
  2027. There is an evident rise in the number of
  young adults indulging in off-road biking
  experiences, creating new opportunities for the
  heavy motorcycle segment. The improvement in
  disposable income among the people has driven the
  need for recreational activities, like off-road
  races and rallies.
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• Leading players like Suzuki Motor Corporation and
  Harley Davidson are heavily investing in research
  and development to launch new models of
  heavy-duty motorcycles that come with better
  power and fuel efficiency to meet the changing
  demands of the people.

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Browse complete Table of Contents (ToC) of this
research report _at_ https//www.gminsights.com/toc/
detail/power-sports-market Chapter 5 Power
Sports Market, By Vehicle 5.1 Key trends, by
vehicle 5.2 All-terrain vehicles 5.2.1
Market estimates and forecast, 2016 2027 5.3
Side by side vehicles
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5.3.1 Market estimates and forecast, 2016
2027 5.4 Personal watercrafts 5.4.1
Market estimates and forecast, 2016 2027 5.5
Snowmobiles 5.5.1 Market estimates and
forecast, 2016 2027 5.6 Heavyweight
motorcycles 5.6.1 Market estimates and
forecast, 2016 2027

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Region

• Regionally speaking, Asia Pacific has emerged as
  a profitable revenue terrain owing to the growing
  demand for such vehicles in nations like Japan,
  China, and India. The rise in consumer disposable
  income has propelled the demand for power sports
  among people across the region. According to data
  by the World Bank, the gross national income in
  China was nearly USD 10,410 to USD 9,600 in the
  year 2018.
• In the last couple of years, the region has also
  witnessed a stark increase in the number of
  tourists further steering the need for
  recreational activities, bolstering the regional
  power sports sector. Driven by the changing
  consumer demands, the power sports companies are
  taking steps to advance their offering to meet
  the technologically changing world. Moreover,
  there is an equally growing need to develop
  vehicles that are sustainable and do not cause
  pollution.

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Key Players

• Arctic Cat Inc.
• Deere Company
• Harley Davidson
• Bombardier Recreational Products (BRP)
• Polaris Inc

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