The research report on Asia Pacific Power Sports Market offers a thorough understanding on this industry with significant details subject to its overall foothold in the global landscape and its application across major end-user industries and sectors.
According to this report, Asia Pacific power sports industry recorded a remuneration of USD 8 billion in 2019 and is likely to surpass USD 11 billion by 2026, increasing at a considerable CAGR of 6%. Moreover, the document also lays focus on the vital information beneficial for various stakeholders in terms of the current market scenario, advancing technologies, expansive competitive landscape, industry strategies, growth prospects, and market segmentations.
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The report further offers an insight to various factors that are touted to drive the growth curve of this industry in the upcoming years, along with including crucial details of the ongoing trends that the industry is characterized by. The APAC power sports market, as given in the report, is divided on basis vehicle, regional, and competitive landscape.
The side by side vehicles will witness a growth owing to constant improvements in product features. SSV will provide enhanced functionality and differentiated riding experience. The improved suspension, multiple drive mode functions, and four-wheel disc brakes advocate its usage in varying ground conditions. In addition, industry players including Kubota are taking initiatives to lower the cost of ownership for these vehicles. Major consumers of these vehicles in the Indian market include HNIs and sports clubs that are increasingly engaged in off-road recreational activities, further promoting the market growth.
The Asia Pacific power sports market has been precisely diversified into China, Japan, India, Thailand, Malaysia, Indonesia, South Korea and its analysis has been briefly addressed in the given document. The report incorporates an analysis on various factors promoting the growth of regional markets, along with the future growth opportunities existing in every region, their growth rates over the projected timeframe, technologies used, regulatory reforms, and individual market share.
Integration of new driver-assisted features and huge demand for power sports vehicles are attributed to transforming consumer preference in Asian countries and innovations by manufacturers. However, the high initial cost of power sports products and limited buying capabilities of several Asian consumers are major factors limiting the market growth. The prices are expected to increase rapidly over the forecast timespan due to the spread of coronavirus and huge impact on the Asian power sports industry. Companies working on expansion and innovation have temporarily halted their operations in the COVID-19 period due to consumer focus on essentials and health services.
The power sports market in Asia Pacific is highly consolidated and is divided into myriad companies such as Honda Motor Co., Ltd., Kawasaki, Yamaha Motors, Polaris Inc., BRP Inc., and John Deere. The research study incorporates comprehensive analysis on the sales spectrum of each of these firms, their tactics to sustain the position in the market, individual company profiles and market share, and stance in the global ecosystem.
Table of Content:
Chapter 4. Asia Pacific Power Sports Market Size, by Vehicle, 2020-2026
- All-Terrain Vehicles
- Side By Side Vehicles
- Personal Watercrafts
- Heavyweight Motorcycles
Chapter 5. Asia Pacific Power Sports Market Share, by Region, 2020-2026
- South Korea
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