Site icon

Impact of COVID-19 on Power Sports Market : Implications on Business

The global power sports market is forecasted to reach US$13.87 billion in 2024, growing at a CAGR of 6.21% for the period spanning 2020-2024. The factors such as growing high net worth population and wealth, increasing new power boat sales, improving consumer confidence index, rising working population, accelerating economic growth and rapid urbanization are expected to drive the market. However, growth of the industry would be challenged by seasonality of power sports vehicles sales, weather fluctuations, environmental issues and high maintenance cost. A few notable trends include artificial intelligence (AI) applications in power sports vehicles, emergence of next generation engines, economic impact of snowmobiling and technological advancements.

In 2020, the outbreak of COVID-19 pandemic has created an unfavorable impact on the market as the power sports sales is expected to decrease sharply in all regions.

Get Free Sample PDF (Including Full TOC, Tables And Figures) of Market: https://www.researchmoz.us/enquiry.php?type=S&repid=2741798

The power sports market comprises four main segments namely snowmobiles, powerboats (PWC and others), motorcycles and off-road vehicles, which further includes all-terrain vehicles (ATVs) & side-by-side vehicles (SSVs).  High preference of side-by-side vehicles in developing economies helped off-road vehicles to remain at top position amongst all the segments in 2019.

The fastest growing regional market is North America owing to favourable weather conditions and increasing consumers spending on recreational and sports activities. The U.S. and Canada are the two largest market for power sports and are already well-penetrated at developed market levels.

Scope of the report:

Key Target Audience:

Enquiry For Discount Visit: https://www.researchmoz.us/enquiry.php?type=D&repid=2741798

Table of Content

1. Market Overview
1.1 Introduction
1.2 Off-Road Vehicles
1.3 Snowmobiles
1.4 Powerboats
1.5 Motorcycles

2. Impact of COVID-19
2.1 Introduction
2.2 Decline in Global GDP Growth
2.3 Change in Organic Traffic
2.4 Disruption of Supply Chain
2.5 North America Power Sports Market
2.6 UK Power Sports Market

3. Global Power Sports Market Analysis
3.1 Global Power Sports Market Value
3.2 Global Power Sports Market Value Forecast
3.3 Global Power Sports Market Volume by Segments
3.4 Global Power Sports Market Volume Forecast by Segments
3.5 Global Off-Road Vehicles Market Volume
3.6 Global Off-Road Vehicles Market Volume Forecast
3.7 Global Off-Road Vehicles Market Volume by Segment
3.8 Global Side-by-Side Vehicles Market Volume
3.9 Global Side-by-Side Vehicles Market Volume Forecast
3.10 Global ATV Market Volume
3.11 Global ATV Market Volume Forecast
3.12 Global ATV Market Volume by Region
3.13 Global Snowmobiles Market Volume
3.14 Global Snowmobiles Market Volume Forecast
3.15 Global Snowmobiles Market Volume by Segments
3.16 Global Snowmobiles Market Volume by Region
3.17 Global Personal Watercraft Market Volume
3.18 Global Personal Watercraft Market Volume Forecast
3.19 Global Personal Watercraft Market Volume by Region

Continue…

Inquire More About This Report: https://www.researchmoz.us/enquiry.php?type=E&repid=2741798

For More Information Kindly Contact: 
ResearchMoz
Mr. Rohit Bhisey,
Tel: +1-518-621-2074
USA-Canada Toll Free: 866-997-4948
Email: sales@researchmoz.us
Follow us on LinkedIn @ http://bit.ly/1TBmnVG
Media Release: https://www.researchmoz.us/pressrelease
Follow me on : http://marketresearchlatestreports.blogspot.com/

Exit mobile version