Power sports market is bifurcated
into off-road vehicles (ATVs & side-by-side vehicles), heavy-weight
motorcycles, snowmobiles, and personal watercrafts. ATV or All-Terrain Vehicles
is a vehicle that travels on low-pressure tires and is with a seat that is
straddled by the operator. This vehicle is designed to handle a wider variety
of terrain, for the purpose of sports and is also used for camping or hunting.
The Side by Side is a small 2-person or 4 person four-wheel drive off-road
vehicle.
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A motorcycle is designed for long
distance travel, navigating congested urban traffic, cruising, sport and
racing, or off-road conditions. Six main categories of motorcycles include:
cruiser, sport, touring, standard, dual purpose and dirt bike. A snowmobile is
a land vehicle designed for winter travel on snow. These machines are designed
in such a way that they do not require a specific road or trail. There are
mainly five types of snowmobiles: entry level, performance, touring, mountain
and utility. A personal water craft (PWC), also called water scooter, is a
recreational watercraft that the rider rides or stands on, rather than inside
of, as in a boat. On the basis of their method of operation and seating
capacity, the personal watercrafts are of the following three types: stand-up
models, sit-down models and multi-person models.
North America is the largest market
for ATVs representing more than two-thirds of the market. In North America, the
US accounts for the largest share followed by Canada. Also, in snowmobile
segment, the US and Canada are the major regions globally accounting for more
two-thirds of the market share. In motorcycle segment, the sales in North
America improved after the global economic recession. The sales of PWC in the
US have showed improvement after undergoing a huge loss due to global economic
recession.
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