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SELBYVILLE, Del., March 17, 2021 /PRNewswire/ --Global Market Insights Inc. has recently added a new report on the power sports market which estimates the market valuationfor powersports will cross US$ 50 billion by 2027. The market is expected to witness an escalating growth rate owing to the upward trend of electrification in the industry. Growing concerns related to harmful emissions coupled with the introduction of stringent regulations have led to a significant increase in the demand for electric power sports vehicles. Continue Reading Powersports Market size is set to surpass USD 50 billion by 2027, according to a new research report by Global Market Insights, Inc. The power sports industry has faced several challenges due to the rapid spread of COVID-19 pandemic across the world. Government restrictions on international and domestic trade created a decline in the accessibility of raw materials. However, the industry size is anticipated to witness a substantial growth by 2021 due to the leniency in lockdown and curfew restrictions imposed by government authorities. Request for a sample of this research report @https://www.gminsights.com/request-sample/detail/1688 Increasing participation of young adults in off-road biking will create new opportunities for the heavy motorcycles segment. The growing number of recreational events, such as off-road races and rallies, will also drive the market over the coming years. Players, such as Harley Davidson and Suzuki Motor Corporation, are investing significantly in R&D to launch new models of heavy-duty motorcycles with enhanced power and fuel efficiency to cater to the changing market demand.The Asia Pacific power sports market is expected to witness a sizable growth due to the rapid increase in the demand for these vehicles in countries including India, Japan, and China. Increasing consumer disposable income is driving the demand for power sports in the region. According to the data published by World Bank, the gross national income (GNI) in China accounted for USD 10,410 compared to USD 9,600 in 2018.Some of the prominent players active in the powersports marketare Bombardier Recreational Products, Arctic Cat, Harley Davidson, Kawasaki Motors Corporation, Yamaha Motor Corporation, Honda Motors, and Polaris Inc. These players are focusing on acquisition of small players in the power sports market to diversify their business operations and expand their market reach. In January 2019, Polaris completed the acquisition of Larson Boat Group, for diversifying its product portfolio in the marine market.Some major findings in the power sports market report include: All-terrain vehicles will witness a high growth owing to their adoption in off-roading recreational activities, accelerating the market growth. The ATV segment is expected to propel, supported by new product launches in this category. Increasing demand for snowmobiles can be attributed to the growing presence of snowmobile clubs and construction of new trails for outdoor activities. The growing presence of established industry players coupled with the increasing adoption of these vehicles due to rise in consumer disposable income is augmenting the power sports market share in North America and Europe. Key players operating in the leisure boats market include Arctic Cat Inc., Harley Davidson, Bombardier Recreational Products, and Yamaha Motors and Polaris Inc. Major strategies adopted by the market players include new product launches and strategic partnerships with other industry players to enhance their market share. One of the other prominent strategies in the market is acquisition of small players to expand the market presence. Request for customization of this research report athttps://www.gminsights.com/roc/1688Partial chapters of report table of contents (TOC):Chapter 3Industry Insights3.1 Industry segmentation3.2 Impact of COVID-19 on power sports industry landscape3.2.1 Global outlook3.2.2 Regional impact3.2.2.1 North America3.2.2.2 Europe3.2.2.3 Asia Pacific3.2.2.4 Latin America3.2.2.5 MEA3.2.3 Industry value chain3.2.3.1 Research & development3.2.3.2 Manufacturing3.2.3.3 Marketing3.2.3.4 Supply3.2.4 Competitive landscape3.2.4.1 Strategy3.2.4.2 Distribution network3.2.4.3 Business growth3.3 Industry ecosystem analysis3.3.1 Component suppliers3.3.2 Technology providers3.3.3 Manufacturers3.3.4 End use landscape3.3.5 Distribution channel analysis3.3.6 Vendor matrix3.4 Price trend analysis, by region3.4.1 North America3.4.2 Europe3.4.3 Asia Pacific3.4.4 Latin America3.4.5 MEA3.5 Cost structure analysis3.6 Technology & innovation landscape3.6.1 Turbocharger3.6.2 Four-wheel drive (4x4)3.6.3 Independent suspension3.6.4 Continuously Variable Transmission (CVT)3.6.5 Electronic Fuel Injection (EFI)3.6.6 Capacitor discharge ignition (CDI)3.7 Impact of green movement on the power sports industry3.8 Development in automotive sector and its impact on power sports industry3.9 Evolution of electric power sports vehicles3.10 Regulatory landscape3.10.1 North America3.10.2 Europe3.10.3 Asia Pacific3.10.4 Latin America3.10.5 MEA3.11 Industry impact forces3.11.1 Growth drivers3.11.1.1 Increasing focus on R&D investments and product innovation3.11.1.2 Introduction of electric power sports vehicles3.11.1.3 Growing inclination towards recreational activities3.11.1.4 Rising number of off-roading events3.11.1.5 Positive outlook of the tourism industry in MEA and Latin America3.11.2 Industry pitfalls & challenges3.11.2.1 High initial cost of power sports vehicles3.11.2.2 Increasing safety concerns and environmental impact3.12 Growth potential analysis3.13 Porter's analysis3.13.1 Supplier power3.13.2 Buyer power3.13.3 Threat of new entrants3.13.4 Threat of substitutes3.13.5 Internal rivalry3.14 PESTEL analysisAbout Global Market InsightsGlobal 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.Contact Us:Arun HegdeCorporate Sales, USAGlobal Market Insights, Inc.Phone:1-302-846-7766Toll Free:1-888-689-0688Email:[emailprotected]Related Imagespowersports-market-size-worth-over.jpg Powersports Market size worth over $50 Bn by 2027 Powersports Market size is set to surpass USD 50 billion by 2027, according to a new research report by Global Market Insights, Inc. Related LinksOnline Powersports Market Power Sports Aftermarket SOURCE Global Market Insights Inc.

Answer: Power Sports Market Revenue to Cross $50 Bn by 2027; Global Market Insights, Inc. Some of the major power sports market participants are Arctic Cat, Inc., Polaris Inc., Bombardier Recreational Products, Kymco, Arctic Cat, Inc., Deere & Company, Honda Motor Co., Ltd., Suzuki Motor Corporation, Harley Davidson, Yamaha Motor Co., Ltd, and Kawasaki Motors Corporation.