Electric Power Sports Market Size - By Vehicle (All-Terrain Vehicle (ATV), Utility Terrain Vehicle (UTV), Watercraft, Snowmobile, Motorcycle), Growth Prospects, Regional Outlook & Global Forecast, 2024 - 2032
Global Electric Power Sports Market size will exhibit a 6% CAGR from 2024 to 2032 due to advancements in battery technology and a focus on innovative designs. Improved batteries enable longer ranges and quicker charging times, making electric vehicles more practical. Additionally, manufacturers are introducing stylish and sleek designs, attracting consumers looking for both performance and aesthetics. As the industry continues to innovate, offering vehicles with better range, performance, and visual appeal, the electric power sports market will expand significantly.
For instance, in June 2022, Power Electric Vehicles unveiled its inaugural electric motorcycle, the P-Sport, boasting a range of 210km.
The electric power sports industry is bifurcated based on vehicle and region.
The all-terrain vehicle (ATV) segment will undergo a significant upturn by 2032. As consumers increasingly prioritize eco-friendly options, electric ATVs offer an appealing alternative to traditional gas-powered models. These electric ATVs combine sustainability with performance, appealing to off-road enthusiasts and eco-conscious consumers alike. With advancements in battery technology, electric ATVs now offer longer ranges and quicker charging times. This shift towards electric power in the ATV segment will drive significant market growth and dominance.
North America electric power sports market share will register a notable CAGR from 2024 to 2032. The region's robust infrastructure and high demand for recreational vehicles drive this dominance. With a growing emphasis on sustainability, consumers are increasingly turning to electric sports vehicles. North American manufacturers are at the forefront of innovation, offering a diverse range of electric motorcycles, ATVs, and side-by-sides. This, coupled with favorable government policies and a supportive ecosystem, will position North America as a significant contributor to the global electric power sports market.
- Chapter Methodology & Scope
- 1.1 Market scope & definition
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
- Chapter 2 Executive Summary
- 2.1 Industry 360 degree synopsis, 2018 - 2032
- Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Supplier landscape
- 3.2.1 Technology provider
- 3.2.2 Component providers
- 3.2.3 Raw material providers
- 3.2.4 End users
- 3.3 Profit margin analysis
- 3.4 Technology & innovation landscape
- 3.5 Patent analysis
- 3.6 Key news & initiatives
- 3.7 Regulatory landscape
- 3.8 Impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Growing concerns over air pollution worldwide
- 3.8.1.2 Rising usage of electric power sports vehicles in the agricultural sector
- 3.8.1.3 Surging investments in R&D and product innovations
- 3.8.1.4 Increasing inclination toward tourism and recreational activities
- 3.8.2 Industry pitfalls & challenges
- 3.8.2.1 High initial costs associated with electric power sports vehicles
- 3.8.2.2 Limited range and charging infrastructure
- 3.9 Growth potential analysis
- 3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
- 3.11 PESTEL analysis
- Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
- Chapter 5 Market Estimates & Forecast, By Vehicle (USD Billion, Units)
- 5.1 Key trends
- 5.2 ATV
- 5.2.1 Below 5 kW
- 5.2.2 5-15 kW
- 5.2.3 Above 15 kW
- 5.3 UTV
- 5.3.1 Below 10 kW
- 5.3.2 10-30 kW
- 5.3.3 Above 30 kW
- 5.4 Watercraft
- 5.4.1 Below 5 kW
- 5.4.2 5-20 kW
- 5.4.3 Above 20 kW
- 5.5 Snowmobile
- 5.5.1 Below 30 kW
- 5.5.2 30-60 kW
- 5.5.3 Above 60 kW
- 5.6 Motorcycle
- 5.6.1 Below 25kW
- 5.6.2 25 kW to 50 kW
- 5.6.3 51 kW to 75 kW
- 5.6.4 76 kW to 100 kW
- 5.6.5 Above 100kW
- Chapter 6 Market Estimates & Forecast, By Region (USD Billion, Units)
- 6.1 Key trends
- 6.2 North America
- 6.2.1 U.S.
- 6.2.2 Canada
- 6.3 Europe
- 6.3.1 Germany
- 6.3.2 France
- 6.3.3 UK
- 6.3.4 Russia
- 6.3.5 Italy
- 6.3.6 Spain
- 6.3.7 Nordics
- 6.3.8 Rest of Europe
- 6.4 Asia Pacific
- 6.4.1 China
- 6.4.2 Japan
- 6.4.3 India
- 6.4.4 South Korea
- 6.4.5 Australia
- 6.4.6 Southeast Asia
- 6.4.7 Rest of Asia Pacific
- 6.5 Latin America
- 6.5.1 Brazil
- 6.5.2 Mexico
- 6.5.3 Argentina
- 6.5.4 Rest of Latin America
- 6.6 MEA
- 6.6.1 UAE
- 6.6.2 South Africa
- 6.6.3 Saudi Arabia
- 6.6.4 Rest of MEA
- Chapter 7 Company Profiles
- 7.1 Alke
- 7.2 American Landmaster
- 7.3 Damon Motors Inc.
- 7.4 Daymak, Inc.
- 7.5 DRR USA
- 7.6 Eco Charger
- 7.7 Eco Rider
- 7.8 Energica Motor Company S.p.A
- 7.9 Greenworks Commercial
- 7.10 Harley-Davidson, Inc.
- 7.11 Hisun Motors
- 7.12 HuntVe
- 7.13 Intimidator UTV
- 7.14 Jinhua Kaxa Technology Co., Ltd.
- 7.15 Polaris, Inc.
- 7.16 Powerland
- 7.17 Raymon Industry and Trade Co., Ltd
- 7.18 TACITA S.r.l
- 7.19 Taiga Motors Inc.
- 7.20 Tracker Off Road
- 7.21 Ultraviolette Automotive Pvt Ltd
- 7.22 Zero Motorcycle
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