The power sports industry is one of the major segments of recreational industry, and can be categorized into four sub-segments, namely ATVs, Motorcycles, Snowmobiles, and Personal Watercrafts. An ATV or all-terrain vehicle is a vehicle that travels on low pressure tires, and is designed to handle a wide variety of terrain as compared to most other types of vehicles. In the motorcycle segment, following six types of bikes are of prime importance, cruiser, sport, touring, standard, dual purpose, and dirt bike. A snowmobile, also known as a sled, is majorly a land vehicle designed for winter travel on snow. Once developed as a utility vehicle, snowmobiles have presently become one of the major recreational vehicle. The last category in the power sports market involves personal watercraft, which refers to a small, jet powered craft ridden astraddle, for individual use in water.
Although the major use of ATV has been in the recreational industry only, but it finds applications in many other industries as well, including hunting, fishing, transportation, and farm use. The US is the largest market for ATVs worldwide, followed by Canada. Together, the US and Canada, or the North America accounts for more than three-fourth of the global ATV market. On a similar basis, the snowmobile market is also concentrated in the US and Canada only. The sales of personal watercrafts in the US had been on a decline for the past few years, mainly due to the impact of global economic recession. In the motorcycle segment, the report presents the US and European heavyweight motorcycle market, along with the total motorcycle sales in the US.
One of the major key issues related to the ATV market has been the increasing cases of ATV related deaths and injuries. Also, the environmental concerns hold a prime position in the concerns related to the industry, as almost all types of power sport vehicles hamper the quality of environment.
Power sports market as a whole is highly competitive with almost all the segments being highly consolidated. Honda has been the largest manufacturer of ATVs worldwide, followed by Polaris, Yamaha and Arctic Cat. In the snowmobile segment, presently there are only four manufacturers of snowmobiles, including Arctic Cat, Bombardier Recreational Products (BRP), Polaris and Yamaha. In the motorcycle segment, there are a number of companies operating, the major being Honda, Yamaha, Harley Davidson, and Suzuki. In the Personal Watercrafts market, the leading competitors include Bombardier Recreational Products (BRP), Kawasaki, Honda, Yamaha and Polaris.
The current report not only analyzes the ATV and Snowmobile markets globally, but also presents a regional view in the US, Canada and Rest of the world. The report also discusses some of the prevailing trends in the power sports market. The report discusses the competitive conditions in the market, and also profiles some of the major players, including Honda, Yamaha, Harley Davidson, Arctic Cat and Polaris, along with their strategies for growth.
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