Powersports Market Dynamics, Competitive Forces & Strategic Pathways

Powersports Market Investment Opportunities & Competitive Benchmarking

The powersports market is projected to reach USD 68.14 billion by 2034, growing from USD 42.24 billion in 2025, at a CAGR of 5.43% during the forecast period from 2025 to 2034.

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Introduction

The powersports market is a crucial sector of the automotive industry. This industry deals in manufacturing and distribution of powersport vehicles around the world. There are various types of vehicles developed in this industry consisting of heavyweight motorcycle, ROVs, Jetski, snowmobiles and some others. These vehicles find several applications such as on-road, off-road and other applications. The powersport vehicles are powered using numerous propulsion type including gasoline, diesel and electric. The rising development in the powersport sector has contributed to the industrial expansion. This market is predicted to rise significantly with the growth of the off-road vehicles industry in different parts of the world.

• According to the Specialty Equipment Market Association, the global powersport market size in 2023 was US$ 37 billion that is expected to reach US$ 69 billion.

Highlights of the Powersports Market

• North America held the dominant share of the powersports market due to the presence of several powersports brands in this region.
• Asia Pacific is expected to grow with the highest CAGR due to the rising trend of electric ATVs in this region.
• The ROVs segment dominated the market due to numerous features such as enhanced rollover protection, multiple seating configuration, off-road usage and some others.
• The off-road segment led the market due to the growing consumer interest towards recreational activities.

Powersports: Figures and Stats

• According to the Winconsin Association, the total ATV/UTV rider spending of U.S. was estimated at US$ 5.4 billion.
• According to the International Snowmobile Manufacturers Association (ISMA), around 112,650 snowmobiles were sold globally in 2024.
• According to the RV Industry Association, there were around 27629 RV sold globally in January 2025.
• According to the RVDA Organization, around 15,981 RVs were sold by the dealers of Canada and U.S. during 2023.

Industry Leader Announcement

In November 2024, David Shan, the CEO of Massimo announced that,” The 2025 Buck 550-6 Crew is meeting market needs with consumer-focused design, and represents our continued commitment to innovation and quality, This vehicle meets the demands of families, outdoor enthusiasts, and light-duty users, all while offering the most competitive price in the market. We believe this UTV will set a new standard in the industry and drive significant growth for Massimo Motor."

Competitive Landscape

The powersports market is a highly fragmented industry with the presence of various dominant players. Some of the prominent companies ruling this industry comprises of Polaris Inc. (U.S.), Textron Inc. (U.S.), Arctic Cat Inc. (U.S.), Honda Motor Co., Ltd. (Japan), BRP (Canada), Harley Davidson (U.S.), Kawasaki Heavy Industries, Ltd. (Japan), KYMCO (Taiwan), CF Moto (China), KTM (Austria), Argo (Canada) and some others. These market players are constantly engaged in manufacturing powersports vehicles and adopting several strategies to sustain their dominant position in this industry.

• According to the annual report of Polaris, around 785000 ORVs were sold in 2022 that increased to 805000 units in 2023.

Market Segmentations

By Vehicle Type

• Heavyweight Motorcycle
• ROVs
• Jetski
• Snowmobiles

By Application

• On-road
• Off-road
• Others

By Fuel Type

• Gasoline
• Diesel
• Electric

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa