Global Sport Side by Sides (SxS) Market is expected to foresee significant growth. Asia-Pacific to lead the growth!
- Vikas Kumar
- October 7, 2021
- AUTOMOTIVE, NEWS
- Sport Side by Sides (SxS) Market, Sport Side by Sides (SxS) Market Growth, Sport Side by Sides (SxS) Market news, Sport Side by Sides (SxS) Market Share, Sport Side by Sides (SxS) Market Size, Sport Side by Sides (SxS) Market Trend
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Global Sport Side by Sides (SxS) Market is expected to reach the market valuation of US$ XX billion by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from US$ XX billion in 2020. The factors that are driving the demand for sports side by side vehicle are surging disposable income of the consumer that has increased its adoption in various activities such as sports, agriculture, and entertainment purpose. In addition, leading industry players such as Arctic Cat, BRP Inc., Honda Motor Co. Ltd., Harley Davidson, Polaris Industries, Inc., John Deere, Kawasaki Motor Corporation, Yamaha Motor, Kymco, and Kubota are making investments in R&D activities to lower the cost of ownership for these vehicles, aiding to market growth.
Factors that are driving the market of Sport Side by Sides (SxS) includes increasing disposable income that escalate the spending power on recreational activities. In addition, increasing development of various off-road rail tracks for recreational activities in various countries coupled with government investment on advanced infrastructure & space for sporting & recreational activities further encouraging the industry growth. In addition, surging application of SSVs in agriculture, military and other industry are fueling its market demand for the projected year.
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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, compelling families to spend on power sports-based activities.
Based on Product Type, the market is classified into Displacement (CC): ≤ 400, Displacement (CC): 400-800, Displacement (CC): ≥800. The displacement CC 400-800 segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 mainly due to ensure maximum features and enhanced safety of the vehicle.
Based on application, the market is segmented into work and entertainment. The entertainment segment grabbed XX% market share of the global Sport Side by Sides (SxS) market and gathered revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 owing to the increasing off-road desert championships and enhancement of recreational infrastructure including racetracks, recreational parks, and boating places.
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For better understanding of the market, the report provides detail analysis for major region and country including North America (US, Canada, rest of North America); Europe (Germany, UK, France, Spain, rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific) and Rest of World. Currently, North America constitutes the largest market for the industry and generated revenue of USD XX billion in 2020 predominantly owing to increasing consumer disposable income and rising outdoor recreational spending.
Some of the major companies operating in the global Sport Side by Sides (SxS) market includes Polaris, John Deere, Honda, Kawasaki, Kubota, Arctic Cat, Yamaha Motor, CFMOTO, HSUN Motor, Linhai Group, KYMCO. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.
Global Sport Side by Sides (SxS) Market Segmentation
Market Insight, by Product Type
- Displacement (CC): ≤ 400
- Displacement (CC): 400-800
- Displacement (CC): ≥ 800
Market Insight, by Application
Market Insight, by Region
- North America Sport Side by Sides (SxS) Market
- United States
- Rest of North America
- Europe Sport Side by Sides (SxS) Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Sport Side by Sides (SxS) Market
- Rest of Asia-Pacific
- Rest of World Sport Side by Sides (SxS) Market
Top Company Profiles
- John Deere
- Arctic Cat
- Yamaha Motor
- HSUN Motor
- Linhai Group