Power Sports Aftermarket: Regional Outlook, Growth Forecast & Emerging Trends To 2027

The power sports aftermarket share from the UTV vehicle segment is projected to expand at a considerable rate over the next few years. This can be attributed to the higher adoption of these vehicles in the farming and good transportation activities that operate across different terrains. Also, these systems are widely employed for sports & recreational off-road activities.

On account of their enhanced passenger and load-carrying abilities, UTV’s are largely opted for in comparison to ATVs on difficult terrains. Owing to this inclination, manufacturers are also making advancements in UTVs. For instance, Metra PowerSports, in December 2019, unveiled new audio solutions for an extensive range of Polaris® UTV models, CES 2020. The systems comprise speakers and subwoofer enclosures to enhance and protect the aftermarket sound systems.

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The influx of GPS systems, audio bars, and communication systems in the powersports has given rise to improved safety of the rider while ensuring communication in cases of emergencies. Besides, there is easy access to low-cost parts and products for these vehicles in comparison to the components rendered by several OEMs.

The power sports aftermarket share will be positively driven by the rise in the instances of racing accidents that result in significant damages. The higher levels of wear & tear in off-roading activities have led to the increasing requirement for replacement of the power sports parts. There is a considerable expansion in the growth of electric vehicles to curb carbon emissions.

The current COVID-19 pandemic and its increasing spread across the globe, led to the imposition of restrictions by various governments on travel and trade, drawing a negative outlook on the market revenue. The regulation of the lockdown policies globally also hampered the production capacities of companies operating in various sectors. This resulted in the suspension of the manufacturing activities of power sports vehicles and components in the first six months of 2020.

The power sports aftermarket for North America and Europe will see positive inclination through the next few years with the incessant need for power sports vehicles. This is due to the jump in the number of off-road activities, championships, and racing events. In the wake of this shift, several market players across the region are expanding their services. For instance, in April 2020, a leading M&A company in the U.S., The DVS Group, inked an acquisition deal with Nivel owned Side by Side Stuff, a major marketer of aftermarket parts across the UTV retail sector.

Power sports aftermarket dealers are working towards capacity expansions, mergers, acquisitions, partnerships, and technological advancements to extend their offerings across the globe while sustaining competition. Citing the same with an instance, Arrowhead Engineered Products, acquired a German aftermarket part distributor for power sports equipment, Ratioparts in January 2018, to extend its presence in the global market as well as enhance its services and products.

Yamaha Motor Co., Ltd., Kubota Corporation, Bombardier Recreational Products, Harley Davidson, Polaris Inc., Motorsport Aftermarket Group, Honda Motor Co., Ltd., AISIN SEIKI Co., Ltd., Kwang Yang Motor Co., Ltd, and Western Power Sports are other key industry participants in the business.

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Data Tables

TABLE 1    Global power sports aftermarket industry 3600 synopsis, 2016 – 2027

TABLE 2    Global power sports aftermarket size, 2016 – 2020 (USD Million)

TABLE 3    Global market size, 2021 – 2027 (USD Million)

TABLE 4    Global power sports aftermarket size, by vehicle, 2016 – 2020 (USD Million)

TABLE 5    Global market size, by vehicle, 2021 – 2027 (USD Million)

TABLE 6    Global all-terrain vehicles aftermarket size, by component, 2016 – 2020 (USD Million)

TABLE 7    Global all-terrain vehicles aftermarket size, by component, 2021 – 2027    (USD Million)

TABLE 8    Global side-by-side vehicles aftermarket size, by component, 2016 – 2020 (USD Million)

TABLE 9    Global side-by-side vehicles aftermarket size, by component, 2021 – 2027    (USD Million)

TABLE 10    Global snowmobiles aftermarket size, by component, 2016 – 2020 (USD Million)

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