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Europe Power Sports Market Size By Vehicle (All-Terrain Vehicles, Side By Side Vehicles, Personal Watercrafts, Snowmobiles, Heavyweight Motorcycles), Industry Analysis Report, Industry Analysis Report, Regional Outlook (UK, Germany, France, Russia, Spain), Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Published Date: August 2020 | Publisher: Graphical Research Report ID: GR1408 | Delivery : PDF  Request Free Sample

Europe Power Sports Market Size is estimated to be over USD 7 billion in 2019 and is expected to register lucrative growth between 2020 and 2026 at a CAGR of over 4.5%.
 

Europe Power Sports Market

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The Market has been gaining high demand for snowmobiles, personal watercrafts, and UTVs in the recent years. The growth is attributed to favorable weather conditions and rise in outdoor recreational activities in European countries including the UK, Germany, Italy, and France. High amount of snowfall and cold climate in Europe supports the sales of snowmobiles, ATVs, and side-by-side vehicles. Consumers in the region are aware of snowmobile benefits and efficiency and have the high purchasing capability. Additionally, established players are increasing their presence in Europe through expansion of distribution channels and partnership with several financing companies.

A major factor supporting the Market is robust development of tourism in Germany, Italy, France, and Switzerland. High arrival of tourists in these countries aids to generate a huge revenue, further promoting water & ice sports and off-road recreational activities. The off-road and power sports organizations are working on the development of suitable trails to meet the increasing consumer demand for ATVs and UTVs. The rapid spread of COVID-19 in the first quarter of 2020 across European countries posed a severe impact on the off-road recreational & power sports industry. Several countries, such as Spain, Italy, and France, have imposed lockdowns and halt of international flights, further reducing the number of tourists and declining power sports vehicle sales.

The heavyweight motorcycles segment is witnessing a steady growth owing to increasing motocross events across Europe. The high power and torque generated from motorcycles along with their compact size enhance the power to weight distribution and cornering abilities. The easy towing and parking capabilities along with minimum maintenance requirements further support the market growth. Electric capabilities integrated into heavyweight motorcycles offer low fuel consumption & noise reduction features and also reduce adverse environmental impacts. Motorcycle manufacturers are launching new products in Europe specifically according to the consumer needs. The presence of active youth population and riding clubs in the region creates product demand.

Germany captures over 20% market share in market due to the increasing consumer participation in off-road leisure activities. Leading power sports market players in Germany include Polaris Inc., Honda Motor Co., Ltd., Kawasaki, BRP Inc., Yamaha Motor, and Kymco.

Companies in the Europe Union are required to comply with several manufacturing regulations and product-based standards owing to the regional environmental concerns and low carbon emission initiatives. As a result, companies are working on the development of low energy consuming and environment-friendly power sports engines, further meeting the European manufacturing standards. Additionally, the American and Asian companies are expanding their presence in Europe to meet the power sports demand through the dealer & distributor network.
 

Frequently Asked Question(FAQ) :

According to Graphical Research, Europe Power Sports Market Share is estimated to be over USD 7 billion in 2019 and is expected to register lucrative growth between 2020 and 2026 at a CAGR of over 4.5%.
Leading power sports market players in Germany include Polaris Inc., Honda Motor Co., Ltd., Kawasaki, BRP Inc., Yamaha Motor, and Kymco.
Germany captures over 20% market share in Europe power sports market due to the increasing consumer participation in off-road leisure activities.

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