According to the recent research report titled ‘Asia Pacific Power Sports Market Size By Vehicle, Industry Analysis Report, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, Asia Pacific power sports market is expected to reach a valuation of USD 11 billion by the year 2025.
 

Increasing off-road recreational activities and surging demand for UTVs and ATVs in Asian countries such as Japan, India, and China are primarily driving the growth of Asia Pacific power sports market. Additionally, rising establishment of outdoor recreational infrastructure like tracks & trails, theme parks, and wilderness areas are also contributing to the overall market growth.
 

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Escalating government investments and policies towards the development of recreational facilities are stimulating power sports market growth in Asia-Pacific. In order to increase the quality and performance of power sports vehicles, leading organizations are investing considerable amounts in product developments. Moreover, the consumer demand is likely to be powered by high-power outputs, low noise, and improved performance of power sport vehicles, which in turn is augmenting Asia-Pacific power sports industry remuneration
 

The incorporation of advanced driver-assisted features and the enormous demand for power sports vehicles owing to customer preference towards innovative products, thereby adding traction to overall market growth. However, major factors restricting the growth of the Asia Pacific power sports market are the high initial cost of power sports products and limited purchasing power of consumers.
 

The rising spread of coronavirus has led to increased prices of power sports vehicles, which in turn is negatively impacting the market outlook. Moreover, various leading companies are compelled to halt their operations owing to customer emphasis on health care, which in turn is hampering Asia-Pacific power sports industry remuneration.
 

As per the report, side by side vehicles segment of Asia Pacific power sports industry is expected to register significant growth during the forecast period. Improved features and differentiated riding experience are fueling the adoption of SSV. These vehicles also offer better suspension, various driving modes, and high ground clearance and hence, is boosting the overall market scenario.
 

In addition, industry players are focusing towards minimizing ownership costs for these vehicles, further impelling Asia Pacific power sports market.
 

Speaking of which, leading organizations in Asia Pacific power sports market are Kubota Corporation, Yamaha Motor Co. Ltd., Kawasaki Motor, Honda Motor Co., Ltd., Polaris Inc., and BRP Inc.