According to MRFR analysis, Japan Powersports Market is expected to register a CAGR of ~6.65% from 2022 to 2030 and hold a value of over USD 30.35 billion by 2030.
The subcategory of motorsports is called "Power Sports." The vehicle's engine and handlebars, which are used to steer the vehicle, are its defining characteristics. Industry participants have increased their investments as a result of the introduction of cars with better performance.
The Powersports vehicle includes all-terrain vehicles (ATVs), side-by-side vehicles (SxS), snowmobiles, dirt bikes, motorcycles, powerboats, and personal watercraft. It widely finds its usage in outdoor recreational centers such as trails, theme parks, and wilderness areas.
The infrastructure for outdoor recreation facilities including theme parks, wilderness areas, and hiking trails has expanded as a result of adventure sports' rising popularity. The demand for power sports is rising as the private sector invests more money in building specialized infrastructure for relaxation and entertainment.
Regional Analysis
The largest portion of the global market for power sports is in North America. This is due to many causes, including a rise in leisure and recreational activity involvement in the area and a rise in the demand for Power Sports vehicles for sports like water surfing and snowmobiling. Because of rising consumer disposable income, which is fueling the demand for power sports in the area, the Asia Pacific market is anticipated to expand quickly.
Market Segmentation
The Global Powersports Market has been segmented into Type and Application
Based on the Type, the market has been segmented into New Energy Engines, Diesel, and Gasoline.
Based on the Application, the market has been segmented into Passenger Vehicles and Commercial Cars.
Key Players
Some of the key market players are American Landmaster, ARCTIC CAT, BRP, Hisun Motors Corp, Kawasaki Motors Corp, Polaris Inc, Yamaha Motor Corporation, Suzuki Motor USA, Volcon ePowersports, and American Honda Motor Company Inc.
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