Report ID: UCMIG25A2131
Report ID:
UCMIG25A2131 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The market size of Power Sports Accessories was valued at USD 5.3 billion in 2022 and is anticipated to exhibit a compound annual growth rate (CAGR) of 9.7% from 2023 to 2032. There is a notable enthusiasm for outdoor recreational pursuits such as off-road riding, water sports, and snowmobiling. The rising inclination towards adventure, leisure, and exhilarating activities is propelling the demand for specialized vehicles like UTV, ATV, and powersports vehicles tailored for these outdoor pursuits. As awareness of power sports vehicles increases, individuals are attracted to the prospect of a distinctive and thrilling approach to exploring and enjoying the outdoors. The quest for adventure and the pursuit of novel recreational experiences have contributed to the surging popularity of power sports activities.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Auto Parts & Equipment by segment aggregation, the contribution of the Auto Parts & Equipment in Automobiles & Components and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG25A2131