Power Sports AfterMarket Trend Forecast 2022-2027 By Regional Players

The power sports aftermarket is set to witness promising growth in forthcoming years owing to increasing off-road activities, rise in e-commerce sector, and increasing demand for the all-terrain vehicles. When it comes to repairing or replacing motorcycle parts, bike owners have the option of taking their vehicle to the auto shop of the dealer or an independent shop.
While, most of the motorcycle owners choose to work on their bike in their personal garage. Thus, choice of where the owner would like to take their bike for repairs really comes down to the kind of part the owner wants. The powersport parts such as aftermarket motorcycle parts are usually made by third party manufactures who are not associated with renowned motorcycle brands.
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Since these are not authorized or connected by the original brand to make parts of powersports, hence there is nothing illegal about these aftermarket parts. Adding further, the manufactures of aftermarket also do not market any of the power sports parts as well as accessories utilizing the original parts of the brand.
One important advantage of buying aftermarket parts is that having a greater number of warehouses across numerous countries along with larger inventory of aftermarket so there are high chances that the owner could have their parts delivered within 1-2 days.
The power sports aftermarket is segmented in terms of vehicle, sales channel, and regional landscape.
With respect to vehicle, the power sports aftermarket is classified into personal watercrafts, heavyweight motorcycles, snowmobiles, side-by-side vehicles, and all-terrain vehicles. The All-terrain vehicles segment valued at over $1.5 billion in the powersports aftermarket in 2020 and is estimated to witness robust growth over the forthcoming time period. The growing development of amusement parks, ATV clubs, outdoor parks, and prominence of off-road sports activities has increased the demand for the all-terrain vehicles which is boosting the overall market revenue.
In terms of sales channel, the overall power sports aftermarket is divided into offline and online. Among these, the online segment is expected to grow at a robust rate over the forecast timeline as the online sales have increased tremendously across the globe owing to rise in e-commerce sector.
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Meanwhile, the COVID-19 pandemic has augmented the shift towards a more digital world further triggering changes in online shopping behaviors which are likely to have long lasting effects.
From a regional frame of reference, the power sports aftermarket in Asia Pacific is witnessing substantial growth owing to increasing off-road activities in the region.
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