According to a new report, published by KBV research, The Global Power Sports Market size is expected to reach $49.8 billion by 2030, rising at a market growth of 7.0% CAGR during the forecast period.
Sports vehicles and equipment serve various purposes across various recreational, commercial, and industrial domains, catering to enthusiasts, professionals, and businesses’ diverse needs and interests. Off-road vehicles such as all-terrain vehicles (ATVs), utility-terrain vehicles (UTVs), and dirt bikes are widely used for recreational purposes, including trail riding, off-road racing, and exploring rugged terrain. Enthusiasts enjoy the thrill of off-roading, traversing challenging trails, and experiencing the freedom of outdoor exploration.
The Off-Road segment is registering a CAGR of 6.7 % during the forecast period. Off-roading provides individuals with a sense of adventure, thrill, and excitement. Many enthusiasts are drawn to the off-road segment as it allows them to explore challenging terrains, experience outdoor adventures, and enjoy recreational activities such as trail riding, rock crawling, and dune bashing. Moreover, the off-road segment aligns with the outdoor lifestyle and appeals to individuals who enjoy spending time in nature.
The Gasoline segment led the Global Power Sports Market by Propulsion in 2022; thereby, achieving a market value of $29.5 billion by 2030. Gasoline engines often provide better performance in terms of power and speed compared to electric counterparts. This is especially important in power sports, where enthusiasts seek high performance in activities like racing or off-roading. Also, gasoline-powered vehicles typically have longer ranges, allowing users to explore larger areas without frequent refueling or recharging.
The All-terrain Vehicles segment is growing at a CAGR of 6.2 % during the forecast period. ATVs are highly versatile vehicles capable of traversing various terrain types, including mud, rocks, sand, snow, and rough trails. Their rugged construction, off-road tires, and suspension systems make them well-suited for outdoor activities such as trail riding, hunting, farming, recreational use, and utility work. This adaptability appeals to many customers looking for a single car to manage various activities and settings.
Full Report: https://www.kbvresearch.com/power-sports-market/
The North America region dominated the Global Power Sports Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $18.5 billion by 2030. The Europe region is anticipated to grow at a CAGR of 6.8% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 7.9% during (2023 - 2030).
By Application
By Propulsion
By Vehicle Type
Unique Offerings 
