South America Powersports Market
SAM has the presence of major automakers, including General Motors, Volkswagen, Hyundai, Ford, Toyota, Peugeot, and Renault. Further, national regulatory bodies in various countries in the region capitalize on the development of the automotive industry. For instance, Brazil announced Route 2030, a scheme of tax credits worth billions of dollars for auto and auto-parts manufacturers in the country in 2017, to assist the industry struggling to grow sustainably after the country’s recovery from recession in 2017. The Route 2030 offered US$ 535 million in tax incentives in 2019 to eligible manufacturers, and it is likely to allocate ~US$ 382 million annually for a similar cause till 2030. The program applies specifically to profitable auto companies actively investing in research & development, especially those creating technologies that boost energy efficiency within Brazil. Similarly, in 2017, Argentine President announced a US$ 1 million plan for the development of the automotive industry, under which the country aimed to be capable of producing 750,000 cars annually by 2019 and ~1 million units by 2023. Therefore, such government initiatives to support the growth of the automotive industry are likely to support the growth of the powersports market in SAM in the coming years.
The ATV club in Argentina has been a pioneer in developing, planning, and implementing novel ATV and UTV excursions. The club's goal is to assist customers in identifying the adventure and recreation opportunities supported by nature, which has resulted in a boom in demand for these bikes. Further, the rising demand for ATVs for agricultural and industrial applications, increasing implementation of advanced technologies, and surging popularity of electric ATVs are the other factors that are expected to support the powersports market expansion in the country in the future.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the SAM powersports market at a notable CAGR during the forecast period.
Strategic insights for the South America Powersports provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 6,048.93 Million |
| Market Size by 2028 | US$ 7,666.68 Million |
| Global CAGR (2021 - 2028) | 3.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America Powersports refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
SAM Powersports Market Segmentation
The SAM 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 SAM powersports market is segmented into Brazil, Argentina, and the Rest of SAM.
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 SAM powersports market.
The South America Powersports Market is valued at US$ 6,048.93 Million in 2021, it is projected to reach US$ 7,666.68 Million by 2028.
As per our report South America Powersports Market, the market size is valued at US$ 6,048.93 Million in 2021, projecting it to reach US$ 7,666.68 Million by 2028. This translates to a CAGR of approximately 3.4% during the forecast period.
The South 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 South America Powersports Market report:
The South America Powersports Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Powersports Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Powersports Market value chain can benefit from the information contained in a comprehensive market report.
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