Asia Pacific Powersports Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (All-Terrain Vehicles, Side-by-Side, and Motorcycles)

The powersports market in APAC is expected to grow from US$ 60,891.28 million in 2021 to US$ 88,824.24 million by 2028; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028.

Adventure tourism involves traveling to new locations for gaining new experiences, with calculated risks and personal challenges in wild & exotic environments. An increase in the number of visitors interested in off-road driving is contributing to the economic growth of the country. Powersports generates over US$ 1.15 billion in revenue in Malaysia each year through housing, logistics, and tourism expenditures. Racing events hosted by Malaysia include the Motorcycle Grand Prix (MotoGP), the Asia Road Racing Championship (ARRC), and the Malaysian Cub Prix. These events bring significant societal and economic benefits. The widespread awareness among sports tourists regarding such racing events favors the progress of motorsport tourism. The financial benefits of motorsports tourism to economies are associated with the long duration of the events, visibility and coverage by print and electronic media, sponsorship from domestic and global firms, and excessive economic opportunities for locals. For many, the desire to meet new and like-minded people with similar sociability interests is a driving force for off-roading. These factors are supporting the powersports market growth in APAC.

With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America powersports market at a notable CAGR during the forecast period.

APAC Powersports Market Revenue and Forecast to 2028 (US$ Million)

APAC Powersports Market Segmentation  

The APAC powersports market is segmented into type and country. Based on type, the market is segmented into all-terrain vehicles, side-by-side, and motorcycles. The motorcycles segment led the market with the largest share in 2020. Based on country, the APAC powersports market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC.

American Honda Motor Company, Inc.; BRP; Kawasaki Motors Corp; Polaris Inc.; Suzuki Motor USA; and Yamaha Motor Corporation are among the leading companies in the APAC powersports market.

1. American Honda Motor Company, Inc.
2. BRP                  
3. Kawasaki Motors Corp             
4. Polaris Inc.    
5. Suzuki Motor USA     
6. Yamaha Motor Corporation   

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC powersports market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the APAC powersports market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the powersports market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution