The North America Power Sports Market would witness market growth of 6.3% CAGR during the forecast period (2023-2030).
The US market dominated the North America Power Sports Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $12,943.9 million by 2030. The Canada market is experiencing a CAGR of 8.7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 7.8% during (2023 - 2030).
There has been a noticeable shift in consumer preferences towards outdoor recreation and adventure sports, fueled by a desire for thrill-seeking experiences, connection with nature, and exploration of new environments. As more individuals seek exciting outdoor activities and adventures, there is a corresponding increase in the adoption of sports vehicles that enable them to engage in off-road riding, water sports, snowmobiling, and other recreational pursuits.
Outdoor enthusiasts now have more options to enjoy recreational activities, including off-roading, trail riding, boating, and snowmobile, due to the growth of off-road trails, recreational parks, waterways, and snowmobile routes. The availability of designated riding areas and organized events, such as off-road rallies and motocross races, encourages individuals to invest in sports vehicles and equipment to participate in these activities.
The growth of off-roading-focused social media sites and online forums has increased interest in and awareness of Mexicans. Enthusiasts share their experiences, tips, and recommendations, inspiring others to join the adventure. They use platforms like Instagram, Facebook, and YouTube to share their off-roading adventures through photos, videos, and stories. According to the International Trade Administration (ITA), by the end of 2022, Mexico had 96.8 million Internet users, representing an annual increase of 9.3 percent. Therefore, the rising social media usage due to increasing internet penetration and growing trails in the region is propelling the market’s growth.
Free Valuable Insights: The Power Sports Market is Predict to reach USD 49.8 Billion by 2030, at a CAGR of 7.0%
Based on Application, the market is segmented into Off-Road, and On-Road. Based on Propulsion, the market is segmented into Gasoline, Electric, and Diesel. Based on Vehicle Type, the market is segmented into All-terrain Vehicles, Side By Side Vehicles, Personal Watercrafts, Heavy Weight Motorcycles, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Application
By Propulsion
By Vehicle Type
By Country
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