Sports Side by Side (SxS) Market: Current Analysis and Forecast (2021-2027)

Report Description

Global Sport Side by Sides (SxS) Market is expected to exceed the market valuation of more than US$ XX billion in 2027 and is expected to grow at a significant CAGR of XX % during the forecast period (2021-2027). Surging application of SSVs in agriculture, military and other industry are fueling its market demand for the projected year as well. Moreover, various market leaders have launched side by side vehicle in the past few years that are equipped with advance features such as safe parts along with accessories to ensure high user safety. In addition, leading industry players are making investments in R&D activities to lower the cost of ownership for these vehicles, aiding market growth. Hence, market growth for sport side by side vehicle is expected to have influential growth rate in the forecasted period as well.

The global lockdown and travel restrictions imposed by government authorities across the world has severely impacted the sports side by side vehicle market. It is mainly owing to the restriction imposed on social gatherings, cancellation of racing events, and limited period lockdowns to prevent the spread of coronavirus have lowered the sales of power sports products. However, the industry has witnessed demand from the young consumer segment over this period due to temporary closure of colleges and universities.

Different Types of Sport Side by Sides (SxS) Application, 2020

Polaris, John Deere, Honda, Kawasaki, Kubota, Arctic Cat, Yamaha Motor, CFMOTO, HSUN Motor, Linhai Group, KYMCO etc, are some of the prominent players operating in the Global Sport Side by Sides (SxS) Market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Product Type, displacement CC 400-800 segment holds the major share”

Based on product type, currently displacement CC 400-800 segment sport side by side vehicle significant market share globally. However, displacement > 800 CC expected to cater considerable market share in the forecasted period. It is mainly owing to the increasing use of sports side by side vehicle in recreational activities such as muddling, trail riding, racing, desert dune riding are surging need for bigger engine would generate more power than a car with a smaller engine.

 “Amongst Application, entertainment segment holds the major share”

Based on application, currently entertainment segment acquired considerable market share in Sport Side by Sides (SxS) market. It is mainly owing to the increasing off-road desert championships and enhancement of recreational infrastructure including racetracks, recreational parks, and boating places. However, work segment is expected to cater considerable market presence in the projected years as well.

“North America represents one of the largest markets of Global Sport Side by Sides (SxS) Market”

For a better understanding of the market dynamics of the Global Sport Side by Sides (SxS) Market, a detailed analysis was conducted for different regions including Asia Pacific, North America, Europe and Rest of the World. North America constitutes the largest market for the Sport Side by Sides (SxS) in recent years and expected to have a considerable growth rate during the projected period. It is mainly owing to their usage in farming for transporting supplies, raking, and plowing fields.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global Sport Side by Sides (SxS) market were the three major steps undertaken to create and analyze the adoption of Sport Side by Sides (SxS) vehicle in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Sport Side by Sides (SxS) Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the global sport side by sides (SxS) market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the global sport side by sides (SxS) market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product type and application. Further country-level analyses were conducted to evaluate the overall adoption of sport side by sides (SxS) models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of global Sport Side by Sides (SxS) market. Further, we conducted factor analysis using dependent and independent variables such as increasing type of Sport Side by Sides (SxS) and increasing adoption of different type of Sport Side by Sides (SxS) material. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the global sport side by sides (SxS) market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global sport side by sides (SxS) market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of global sport side by sides (SxS) market across the major countries
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global sport side by sides (SxS) market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global sport side by sides (SxS) market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and their type of the global Sport Side by Sides (SxS) market.

The main objective of the Global Sport Side by Sides (SxS) Market Study

The current & future market trends of Global Sport Side by Sides (SxS) Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of global sport side by sides (SxS) market in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include product type and application
• Define and analysis of the regulatory framework for the global sport side by sides (SxS) market industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the global sport side by sides (SxS) market for the major region
• Major regions studied in the report include Asia Pacific, Europe, North America and Rest of the world.
• Company profiles of the global sport side by sides (SxS) market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry