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(Transportation-News.com, December 14, 2018 )
Stratview Research announces the launch of a new research report on Power Sports Market. This extensive report from Stratview Research, studies Power Sports Market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
This Power Sports Market analysis has been segmented in four ways, keeping in mind the interest of all the stakeholders across the value chain.
• By Vehicle Type (All-Terrain Vehicle, Side by Side Vehicle, Personal Watercraft, Heavyweight Motorcycle, Snowmobile)- All-Terrain Vehicles & Side by Side Vehicles will be the dominant vehicle type.
• By Region (North America, Europe, Asia-Pacific, Rest of the World)- North America region is expected to remain the largest market for power sports in the next five years.
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Power Sports Market Insights
The global power sports market promises a healthy growth opportunity and is likely to witness healthy growth during the forecast period of 2018 to 2023. Recovery of the global economy and increasing disposable income are the major drivers of the power sports market.
Global Power Sports market is segmented on the basis of vehicle types; All-Terrain Vehicles (ATV), Side by Side Vehicles (SSV), Personal Watercrafts (PWC), Snowmobiles, Heavyweight Motorcycles (Above 600CC), and Others. Side by Side vehicles offer many advantages over ATVs, such as better riding experience, rollover protection bars, and ease of mobility. In the last ten years, off-road industry has noticed a continuous shift in demand from ATVs to Side by Side vehicles.
The market of all the major power sports vehicle types, such as ATVs, SSVs, PWCs, snowmobiles, and heavyweight motorcycles (>600CC) is heavily dependent on the performance of the North American region. This region is expected to remain the largest market for power sports in the next five years. The US is the growth engine of the North American as well as the global power sports market. The US alone accounted for more than 50% of the global power sports market. Asia-Pacific is a very small market but is likely to witness the fastest growth during the forecast period, driven by the high demand for power sports.
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Ritesh Gandecha
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Source: EmailWire.Com
Source: EmailWire.com
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