Global Powersports Market to Reach $131.08 Billion by 2028

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Aug 08, 2022, 06:45 ET

DUBLIN, Aug. 8, 2022 /PRNewswire/ -- The "Global Powersports Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type" report has been added to ResearchAndMarkets.com's offering.

The global powersports market is expected to grow from US$ 93,703.64 million in 2021 to US$ 131,083.20 million by 2028; it is estimated to grow at a CAGR of 4.9% during 2021-2028.

The shifting market for utility-terrain vehicles (UTVs) is one of the main factors contributing to the rise of the powersports market. Technological advancements have benefitted through improved durability and adaptability to off-road vehicles, thereby ensuring greater enjoyment for ATV and UTV riders. For example, Honda has developed its off-road advancements throughout the years, the most current of which is I-4WD. The system monitors the left and right front wheel speeds and applies brakes to the spinning wheel while increasing driving force to the wheel with higher traction.

Market Dynamics
Market Drivers

Increase in All-Terrain Vehicle Popularity and Experience Zones
Rise in Use of Powersports to Boost Adventure Tourism

Market Restraints

Alteration of Soil Structure and Adverse Impact on Vegetation

Market Opportunities

Innovations in Powersports Products

Future Trends

Green Energy in Powersports Vehicles

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Powersports Market Landscape

5. Powersports Market - Key Market Dynamics

6. Powersports - Global Market Analysis

7. Powersports Market Revenue and Forecasts To 2028 - Type

8. Powersports Market - Geographic Analysis

9. Powersports Market - COVID-19 Impact Analysis

10. Industry Landscape

11. Company Profiles