Michael Aistrup

  • 2023 Global PWC Market Estimated at US$2.5 Billion

    The Personal Watercraft/Jet-ski Market size was valued at USD 2.544 billion in 2023, according to Power Systems Research, and is estimated to register a CAGR of 5.44% between 2024 and 2032.

    Market Trends. Manufacturers are investing in developing PWCs made of environmentally friendly materials and e-powered personal watercraft that are cleaner and more efficient.

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  • 2023 Global E-Bike Market Hit US$38.3 Billion

    Michael Aistrup

    The E-bike market size was estimated at USD 38.3 billion in 2023 and is forecast by Power Systems Research to increase to $97.3 B in 2033 with a CAGR of 9.77% between 2024 and 2033.  Cities globally are investing in dedicated bike lanes, charging stations, and bike-sharing initiatives for facilitating easier e-bike usage. Moreover, consumers are drawn to the substantial cost savings offered by electric solutions compared to conventional vehicles.

    E-Bike Market Trends. Several important technological trends have boosted the production and sales of e-bikes.

    • Battery Technology. Improved batteries provide lighter weight, lower cost, longer range and quicker charging times.
    • Smart features, such as GPS navigation, app connectivity, and digital displays enhance the user experience, making e-bikes more appealing and user-friendly.
    • Shared micro-mobility is part of the public transportation ecosystem. As a flexible transportation option with comparatively low overhead and operation costs, shared micro-mobility can complement higher-volume fixed-route transit services by offering mobility services for many trips at a lower per-traveler cost.

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  • Global Snowmobile Market Forecast for $2.42 Billion

    Michael Aistrup

    The Global Snowmobile Market size was valued at $1.62 billion in 2023, according to Power System Research, and is estimated to register a CAGR of 5.1% between 2023 and 2031 with a projected market value of $2.42 billion in 2032. 

    Source: Power Systems Research

    North America Is Major Snowmobile Market

    According to the International Snowmobile Manufacturers Association (ISMA), 82% of snowmobile sales are in North America.

    Source: Power Systems Research

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  • 2024 Global Motorcycle Market Estimated at $144 Billion

    Michael Aistrup

    The global motorcycles market size is estimated to be valued at $144.1 billion in 2024 and is estimated to rise at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2033 and to be valued at $288.46 billion in 2033, according to research by Power Systems Research (PSR).

    The unit sales of Motorcycles market are expected to reach 61.62 million by 2029 according to PSR. In the United States, the trend in the motorcycle market is shifting towards electric bikes, as consumers become more environmentally conscious.

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  • 2024 Global Golf Cart Revenue To Hit $1.84 Billion

    Michael Aistrup

    Power Systems Research estimates the Global Golf Cart Market to be $1.84 billion in 2024 and expects this market to reach $2.81 billion by 2032, growing at a CAGR of 5.65% during the forecast period.

    Market Demand Drivers. Theincreased popularity of the game of golf by senior citizens, women, and juniors has increased the demand for golf carts. The increased use of these eco-friendly electric vehicles by government and industry also has pushed demand.

    • Sustainability and Environmental Concerns. Governments, golf courses, and consumers increasingly are emphasizing the need for eco-friendly alternatives. Electric golf carts, with their lower emissions and reduced environmental impact, meet these concerns.
    • The solar golf cart segment is projected to experience rapid growth, primarily due to its eco-friendly nature and lower operating costs.
    • Popular golf destinations and resorts experienced an influx of tourists, and millions of new participants have started golfing for the first time are leading to higher demand for golf carts.
    • Increased participation. More than 2 million newcomers have been added to the industry for eight consecutive years between 2012 and 2019, with the number exceeding 3 million per year between 2020 and 2022.

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  • 2032 Global ATV-SxS Market To Hit $22.9 Billion

    GLOBAL REPORT
    Michael Aistrup

    According to the latest research by Power Systems Research, the global ATV & SxS market size is valued at $13.54 billion in 2024 and is expected to expand at a CAGR of 6.87% during the forecast period, reaching $22.85 billion by 2032.

    ATV stands for “All Terrain Vehicle.” An ATV is an off-road vehicle with handlebar steering and a motorcycle-style seat that can seat a driver and one passenger in tandem. ATVs are designed for a variety of uneven terrain and roads. A side-by-side vehicle (SxS) is an off-road vehicle known for its 4- to 6-wheel design, unique side-by-side bucket seat setup, and steering wheel and pedal drive system.

    Source: Power Systems Research

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  • Global Lawn and Garden Equipment Market

    GLOBAL REPORT
    Michael Aistrup

    The global lawn and Garden Equipment Market, which includes commercial and residential equipment, is projected by Power Systems Research to reach sales of $46.16 billion by 2030. This is a projected increase of $15.96 billion dollars from 2023 to 2030, an increase of 52.8%.

    The global impact of COVID-19 is stating to wane and the market is returning to a normal growth rate. Individual homeowners are still interested in lawn and garden care, just not as much as during COVID-19. More people are returning to recreational activities.

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  • E-Battery Technology Increases Opportunities

    Michael Aistrup

    As battery technology increases, the opportunities for battery-powered equipment continue to grow, especially in the Lawn & Garden and recreational products segments. The factors of reduced weight, increased charging capacity and lower cost are making battery-powered equipment more attractive to consumers and commercial users in these segments.

    Lawn & Garden. The capacity of lithium-ion battery technology to meet the horsepower needs of the homeowner and the commercial landscaper has grown significantly in the last couple of years. Battery-powered lawn and garden equipment can now match the power of traditional gas-powered lawn and garden equipment. Some brands now have available 56V which is more than double what was the standard power available. Batteries now charge quicker, last longer, and can hold a charge indefinitely.

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