Four-wheel all-terrain vehicles (ATVs) are in high demand among consumers in North America. This is pushing ATV manufacturers to include a four-wheel-drive system as an optional feature or as a full-time option. Microfiber couplings recognize the requirement of a four-wheel-drive system in real time. The popularity of such new four-wheel ATVs is increasing in different North American countries. The Canadian Council of Snowmobile Organization holds sporting competitions every year. In addition, several major ATV and UTV manufacturers are hosting racing championships, which is expected to boost demand for these utility vehicles. The US has been experiencing an increase in recreational parks for ATV rides. Recreational options have been created on public lands in the country by adding miles to over 19 national recreational routes. ATVs are also widely used in the armed services, including the military and police agencies, where they are heavily used for transportation in isolated places. Thus, the rising demand for ATVs in recreational, sporting, and military applications is one of the primary factors driving the powersports market growth in North America.
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.
North America Powersports Market Segmentation
The North America 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 North America powersports market is segmented into the US, Canada, and Mexico. The US held the largest market share in 2020.
American Honda Motor Company, Inc.; American Landmaster; ARCTIC CAT; BRP; Hisun Motors Corp., USA; Kawasaki Motors Corp; Polaris Inc.; Suzuki Motor USA; Volcon ePowersports; and Yamaha Motor Corporation are among the leading companies in the North America powersports market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 13,046.99 Million |
| Market Size by 2028 | US$ 16,164.40 Million |
| CAGR (2021 - 2028) | 3.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Powersports Market is valued at US$ 13,046.99 Million in 2021, it is projected to reach US$ 16,164.40 Million by 2028.
As per our report North America Powersports Market, the market size is valued at US$ 13,046.99 Million in 2021, projecting it to reach US$ 16,164.40 Million by 2028. This translates to a CAGR of approximately 3.1% during the forecast period.
The North America Powersports Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Powersports Market report:
The North America Powersports Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Powersports Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Powersports Market value chain can benefit from the information contained in a comprehensive market report.
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