According to the research report titled, ‘Power Sports Market Size By Vehicle (All-Terrain Vehicles, Side By Side Vehicles, Personal Watercrafts, Snowmobiles, Heavyweight Motorcycles), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, global power sports market is expected to register significant gains over 2021-2027.
 

Escalating demand for water sports and other recreational activities, booming travel and tourism sector, and rising popularity of personal watercrafts are boosting the progression of global power sports market. In addition, increasing emphasis on R&D investments and product innovation, surging number of off-roading events, and introduction of electric power sports vehicles are aiding market expansion.
 

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For the unversed, powersports is referred to a subset of motorsports which mainly involves a motorized or motor vehicle. The shift of the professional quality of the equipment into personal use has increased the safety and accessibility of powersports, which in turn augmented industry outlook.
 

On the contrary, high initial costs along with rising concerns about safety and environment impact of these vehicles are likely to impede market growth in the ensuing years.
 

Based on vehicles ambit of global power sports market, the personal watercrafts segment is slated to register a CAGR of 5% over the forecast duration owing to the growing demand for watersports activities. Most of the personal watercrafts range between 45 to 65 mph which makes them one of the most domesticated power sports vehicles.
 

Regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa are considered to understand the dynamics of this industry vertical. Among these, Latin America market is poised to amass notable gains during 2021-2027, accreditable to rising number of recreational activities across the region.
 

Key players operating in the marketplace are Bombardier Recreational Products Inc., Yamaha Motor Co., Ltd, Suzuki Motor Corporation, Polaris Inc., Kwang Yang Motor Co. Ltd., Kubota Corporation, Kawasaki Motors Corp., Deere & Company, Harley Davidson Inc., Honda Motor Company. Ltd., and Arctic Cat Inc.