Power Sports Aftermarket Regional Outlook, Growth Forecast, Industry statistics Till 2027
Global power sports aftermarket is anticipated to depict a CAGR of 5% through 2027, having recorded a valuation of USD 10 billion in 2020. By 2027, the market is expected to hit a remuneration of USD 14 billion.
The emergence and integration of newer components like audio & video bars, as well as GPS & communication systems, will drive the power sports aftermarket forecast in the coming years. There is a significant jump in the number of accidents incurred during championships, and racing activities that cause significant damages, specifically in North America and Europe.
Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/4792
Owing to these factors, there is abundant availability of affordable parts and components in comparison to the products rendered by numerous OEMs. The rising wear & tear of the vehicles during off-roading activities have led to the incessant need to replace various power sports parts. It has also helped to increase the safety of the riders through enhanced communication during emergencies. Besides, there is a rising focus to curb carbon emissions by developing electric power sports vehicles.
The power sports aftermarket share from the UTV vehicle segment is projected to expand at a considerable rate over the next few years. This can be attributed to the higher adoption of these vehicles in the farming and good transportation activities that operate across different terrains. Also, these systems are widely employed for sports & recreational off-road activities.
On account of their enhanced passenger and load-carrying abilities, UTV’s are largely opted for in comparison to ATVs on difficult terrains. Owing to this inclination, manufacturers are also making advancements in UTVs. For instance, Metra PowerSports, in December 2019, unveiled new audio solutions for an extensive range of Polaris® UTV models, CES 2020. The systems comprise speakers and subwoofer enclosures to enhance and protect the aftermarket sound systems.
There are significant investments directed towards the establishment of amusement parks, trails, and water sports clubs across Australia, Japan, China, and India. For instance, Motorcycling Australia Organization has scheduled its Australian off-road championship event in March 2021. This activity is likely to promote the supply of aftermarket spare parts in the country.
Power sports aftermarket dealers are taking up strategic moves like acquisitions and partnerships to increase their global and customer penetration. For instance, Arrowhead Engineered Products, in January 2018, acquired Ratioparts, a leading distributor of market parts for equipment and components.
The power sports aftermarket for North America and Europe will see positive inclination through the next few years with the incessant need for power sports vehicles. This is due to the jump in the number of off-road activities, championships, and racing events. In the wake of this shift, several market players across the region are expanding their services.
Asia Pacific led the regional landscape for the power sports aftermarket by contributing a dominant industry share in 2020. This is owing to the growing household incomes of consumers across the region. This has increased their willingness to spend on off-roading water sports as well as other recreational activities. Multiple individuals residing across the continent are also focusing on modifying their power sports vehicles in order to enhance their performance levels.
Yamaha Motor Co., Ltd., Motorsport Aftermarket Group, Honda Motor Co., Ltd., AISIN SEIKI Co., Ltd., Kwang Yang Motor Co., Ltd, Harley Davidson, Western Power Sports, Bombardier Recreational Products, Kubota Corporation, and Polaris Inc., are few other participants in the sector.
Get This Report Customized To Your Requirements @ https://www.decresearch.com/roc/4792
Some Point from Table of Contents:
Data Tables
TABLE 1 Global power sports aftermarket industry 3600 synopsis, 2016 – 2027
TABLE 2 Global market size, 2016 – 2020 (USD Million)
TABLE 3 Global market size, 2021 – 2027 (USD Million)
TABLE 4 Global power sports aftermarket size, by vehicle, 2016 – 2020 (USD Million)
TABLE 5 Global market size, by vehicle, 2021 – 2027 (USD Million)
TABLE 6 Global all-terrain vehicles aftermarket size, by component, 2016 – 2020 (USD Million)
TABLE 7 Global all-terrain vehicles aftermarket size, by component, 2021 – 2027 (USD Million)
TABLE 8 Global side-by-side vehicles aftermarket size, by component, 2016 – 2020 (USD Million)
TABLE 9 Global side-by-side vehicles aftermarket size, by component, 2021 – 2027 (USD Million)
TABLE 10 Global snowmobiles aftermarket size, by component, 2016 – 2020 (USD Million)
TABLE 11 Global snowmobiles aftermarket size, by component, 2021 – 2027 (USD Million)
TABLE 12 Global heavyweight motorcycles aftermarket size, by component, 2016 – 2020 (USD Million)
TABLE 13 Global heavyweight motorcycles aftermarket size, by component, 2021 – 2027 (USD Million)
Browse complete Table of Contents (ToC) of this research report @
https://www.decresearch.com/toc/detail/power-sports-aftermarket