Online power sports market may surpass USD 6 billion by the year 2026. Advent of e-commerce and digital platforms has helped manufacturers to reach a bigger customer base, significantly benefiting their business outlook. Distributors and retailers have begun to vest in their efforts in practices like digital marketing to widen their product presence. Initiatives like these could suffice overall online powersports industry growth.
With rising concerns over high emission levels, powersports vehicle manufacturers have begun to expand investments in multiple R&D activities to develop vehicles that comply with emission regulations as well as enhance over user experience with superior performance. Companies are focusing on adopting eco-friendly powersports instruments to reduce their emission levels.
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Online power sports market is likely to register significant gains on account of overwhelming consumer inclination towards recreational activities. Adventure sports like snowmobiling, watersports, and off-roading races are witnessing heavy demand as more people continue to take part in adventure activities in their free time.
However, the COVID-19 outbreak has disrupted industry growth as the demand for power sports equipment steadily declines. Contagious nature of this virus has influenced people to stay in quarantine at their home. This trend has severely affected the business of recreational activities. Additionally, government enforced lockdowns and regulations to maintain social distancing have led to a temporary shutdown of numerous recreational infrastructures like theme parks.
However, industry players are working on ways to restart their operations while adhering to federal norms. Citing an Instance, in June 2020, NASCAR and American Flat Track collaborated with Charlotte Motor Speedway’s team to conduct two and four-wheeled racing during the COVID-19 pandemic while maintaining all the required safety precautions.
In regard to vehicle type, the online power sports market is categorized into side by side vehicle, all-terrain vehicle, snowmobile, personal watercraft, and heavyweight motorcycle. Out of these, the side by side vehicles (SSVs) is projected to observe significant demand owing to its enhanced safety and multiple seating capacity.
These vehicles offer remarkable benefits like easy maneuverability and rollover protection bars, which have played a vital role in accelerating its adoption over the years. SSVs are highly demanded in diverse applications like entertainment, sports, agriculture, and public safety. Taking June 2020 for instance, the U.S. Fire Rescue Department adopted a new all-terrain side-by-side vehicle to use in events like woods fires as well as crashes associated with all-terrain vehicle or snowmobiles.
Companies operating in online power sports market are emphasizing on strategic collaborations and new product launches to increase their revenues share. In 2019, Honda launched two new models of its ‘Talon’ SSVs that feature advanced charging technologies that offers users with improved driving experience.
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Partial Chapter of the Table of Content
Chapter 4. Competitive Landscape
4.2. Key player analysis, 2019
Chapter 5. Online Power Sports Market, By Vehicle
5.1. Key trends by vehicle
5.2. All-terrain vehicle
5.2.1. Market estimates and forecast, 2016 – 2026
5.3. Side-by-side vehicle
5.3.1. Market estimates and forecast, 2016 – 2026
5.4. Personal watercraft
5.4.1. Online power sports market estimates and forecast, 2016 – 2026
5.5.1. Market estimates and forecast, 2016 – 2026
5.6. Heavyweight motorcycle
5.6.1. Market estimates and forecast, 2016 – 2026
Charts & Figures
FIG. 1 Online power sports market segmentation
FIG. 2 Industry ecosystem analysis
FIG. 3 Growth potential analysis
FIG. 4 Porter’s analysis
FIG. 5 Online power sports market PESTEL analysis
FIG. 6 SWOT Analysis, Arctic Cat Inc.
FIG. 7 SWOT Analysis, Bombardier Recreational Products
FIG. 8 SWOT Analysis, Cycle Works Motorsports
FIG. 9 SWOT Analysis, Harley Davidson
FIG. 10 SWOT Analysis, Honda Motor Co. Ltd.
FIG. 11 SWOT Analysis, Kawasaki
FIG. 12 SWOT Analysis, Louis Powersports
FIG. 13 SWOT Analysis, Polaris Inc.
FIG. 14 SWOT Analysis, RIDENOW POWERSPORTS
FIG. 15 SWOT Analysis, Yamaha Motor Co. Ltd.
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