Selbyville, Delaware, United States, September 21 2020 (Wiredrelease) Global Market Insights, Inc –:Surging demand for leisure and recreational activities across the globe would drive power sports market growth over the coming years. Technology has played a crucial role in developing next-generation vehicles. By integrating advanced technologies, automobile manufacturers are able to develop vehicles that offer advanced features like independent suspension, EFI, four-wheel-drive systems, turbochargers, and CDI.
Such advanced features has enabled off-roads enthusiasts to explore new recreational activities. In addition to this, the construction of new recreational centers have generated lucrative opportunities in power sports industry . A research conducted by Global Market Insights Inc., predicts that the power sports market could exceed USD 50 billion by 2026.
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Escalating demand for environment-friendly power sports vehicles that could reduce carbon emissions have urged companies to develop new products with advanced technological and electric capabilities. Vehicle manufacturers are integrating alternative engines, like electric-based and gas-driven models, to tap on a major market share.
Asia Pacific is expected to offer lucrative growth opportunities to the power sports market. The region is witnessing high demands for ATVs and motorcycles owing to increased customer awareness and expansion of manufacture subsidies.
The prevalence of low tax alternatives and low manufacturing costs in the region has helped boost the production of power sports vehicles. Meanwhile, favorable government initiatives such as implementation of robust projects and policies linked with off-road and recreational infrastructure are likely to spur APAC sport power market share.
Some of these firm include Polaris Industries Inc., Kawasaki Motors Corporation, Honda Motor Co., Ltd., KYMCO, BRP Inc., Kubota Corporation, Suzuki Motor Corporation, Yamaha Motor Co., Ltd., Deere & Company and Arctic Cat Inc. that have been fueling power sports market revenue share. Companies are also actively investing in research and development to be at the forefront of this industry.
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Zina mwa Zolemba Zam'kati:
Chapter 4 Power Sports Market, By Vehicle
4.1 Key trends in the power sports industry, by vehicle
4.2 All-terrain vehicle
Kuyerekeza kwamisika ndi kuneneratu pamsika, 4.2.1 - 2015
4.3 Side by side vehicle
Kuyerekeza kwamisika ndi kuneneratu pamsika, 4.3.1 - 2015
4.4 Personal watercraft
Kuyerekeza kwamisika ndi kuneneratu pamsika, 4.4.1 - 2015
4.5 Snowmobile
Kuyerekeza kwamisika ndi kuneneratu pamsika, 4.5.1 - 2015
4.6 Heavyweight motorcycles
Kuyerekeza kwamisika ndi kuneneratu pamsika, 4.6.1 - 2015
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