According to a recent study titled ‘North America Power Sports Market Size By Vehicle, Industry Analysis Report, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report, North America power sports market net worth is projected to cross USD 17 billion by the year 2026.
 

Increasing support for off-road activities by local as well regional governments, along with active youth participating in off-road and racing events across the U.S. and Canada are promulgating North America power sports growth.
 

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Besides, adoption of ATVs and UTVs by the military for goods & personnel transportation coupled with partnerships with power sports manufacturers for developing next-gen defense vehicles are accelerating North America power sports industry expansion. For instance, United States’ Government Services Administration (GSA), in Jan 2020, disclosed its contract with Polaris for the procurement of a new light tactical vehicle, the MRZR Alpha.
 

On the contrary, surging vehicle prices is a major challenge for the industry. Besides, rapid spread of coronavirus across U.S. and Canada has limited manufacturing activities, increased raw materials costs, and incurred high import duties from Asia manufacturing, thereby negatively impacting North America power sports market outlook.
 

Based on vehicle type, snowmobiles segment in North America power sports market is anticipated to witness an increased demand in the upcoming years, facilitated by the high prevalence of snow during winter and rising customer inclination towards ice sports events. Growing utilization of snowmobiles for local trips, essentials, and government duties is positively impacting the industry outlook.
 

Leading organizations in North America power sports industry are Kubota Corp., KYMCO, Yamaha Motor Co. Ltd., Kawasaki Motor Corp., John Deere, Polaris Inc., Harley Davidson, Inc., Honda Motor Co., Ltd., BRP Inc., and Arctic Cat.