News: Recreational Products

2023-09-15

Strong E-Bike Market Growth Seen

The pandemic bike boom boosted e-bike sales 145% from 2019 to 2020, more than double the rate of classic bikes, according to the market research firm NPD Group.

Research by Power Systems Research estimates the global e-bike market size at US$ 23.2B in 2022 and expects the market to reach US$ 78B by 2030, exhibiting a CAGR of 10.5%.

E-bikes are bicycles equipped with electrical motors for transforming electrical energy into mechanical energy to assist pedaling. They use rechargeable batteries that require minimum maintenance and provide power to the motor.

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2023-09-05

Brazil Motorcycle Production To Reach 1.5 Million in 2023

In the first seven months of 2023, manufacturers affiliated with Abraciclo assembled 887,000 motorcycles, up 14.3% over the same period in 2022. Registrations totaled 903,200, up 21.4%, including imports and sales from automakers not yet linked to the association, such as India’s Bajaj and Royal Enfield, which began production in Brazil at the end of last year. The entity’s expectations for 2023 are for expansion of 10.4% (1.56 million units) in production and 10.9% (1.51 million motorcycles) in licensing.

Source: Valor      Read The Article

PSR Analysis: In 2011, Brazil produced 2 million units, its best year in the history of the segment. However, this year was the beginning of consecutive annual declines that reduced production to 890,000 motorcycles in 2016. The start of the rebound in 2018 was interrupted in 2020 by the shutdown of factories brought on by the pandemic. The industry finally looked to the future again in 2023 and expects to reach a volume of 2 million motorcycles within five years.   PSR

Fabio Ferraresi is Director-Business Development South America for Power Systems Research

2023-08-20

DATAPOINT: NA Personal Watercraft

89,700 units is the estimate by Power Systems Research of the number of Personal Watercraft (PWC) expected to be produced in North America in 2023. In this category, we include jet drive boats and jet drive pontoons as well as personal watercraft.

Jet Drive Boats are boats propelled by a jet of water ejected from the back of the craft; they have no propeller and can maneuver in shallow water. PWCs are also driven by jet water and come in several styles: Stand-Ups or Sit-Downs. They are often referred to as jet skis. Sit Downs are designed for one, two or three persons in a sitting position, one in front of the other. PWC Stand-Ups are designed for one rider standing or kneeling on the watercraft.

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Continued Growth Seen for Powersports Market

Michael Aistrup

The growing popularity of powersports is expected to provide many new opportunities ln this rapidly growing market. Some of the trends fueling this long-term growth potential are:

Growing/changing market for utility-terrain vehicles (UTVs).

  • Technological advancements through improved durability and adaptability to UTV’s, ensure greater enjoyment for UTV riders.
  • Industry-leading companies will continue to focus on increased product range and rigorous R&D initiatives to strengthen their market standing.
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2023-07-26

OEMs Target India’s Premium MC Segment

INDIA REPORT
Aditya Kondejkar

The dominance of Royal Enfield in the mid-segment of the premium motorcycle market (300cc-500cc) could be facing challenges from upcoming products. The Triumph Speed 400, a result of a joint development effort between Triumph and Bajaj Auto, and the Harley-Davidson X440, developed through a collaboration between Hero MotoCorp and Harley Davidson, are set to compete in this market segment.

In response, Royal Enfield plans to introduce three new models in the 350-450cc range within the next year.

The Indian motorcycle market has witnessed a favorable trend towards high-end bikes. The phenomenon of premiumization has gained momentum due to increasing income levels, a growing young population, shifting preferences, and a surge in product launches.

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2023-06-19

Global Electric Scooter Market Could Reach $56B in 2033

GLOBAL REPORT
Michael Aistrup
Michael Aistrup

The global electric scooter market is growing at a rate that will enable it to surpass $56 billion by the end of 2033, according to a forecast by. Power Systems Research. The forecast predicts a projected growth rate of 9.72% by 2033.

This high growth rate is attributed to the rising demand for electric vehicles because of the increasing worldwide population.

An Electric Vehicle (EV) is a vehicle that runs on electricity/battery power. Electric vehicles have low running costs due to fewer moving parts and are environmentally friendly as they use little or no fossil fuels. Some EVs use lead-acid or nickel-metal hydride batteries, but lithium-ion batteries are now used in battery-powered electric vehicles for their long life, excellent energy storage, and low self-discharge rate.

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2023-04-18

Honda Plans Personal Electric Motorcycles

JAPAN REPORT

Honda said it plans to produce a motor-driven electric motorcycle for individuals in Japan by the end of 2023. This will be the first time Honda produces a product for the public in Japan.

Overall, Honda said it plans to launch more than 10 models of electric motorcycles worldwide by 2025. Their goal is to increase overall sales, including pedal-powered and electric bicycles, mainly in China and India. The company plans to increase its sales to 3.5 million units worldwide by 2030, more than 20 times the 2021 level.

The EM1e electric scooter was unveiled March 17, 2023, in Japan. It has a cruising range of approximately 40 km and uses replaceable batteries. The price is expected to be higher than gasoline-powered scooters with a displacement of about 50 liters. The company plans to launch the moped equipped with pedals that can be pedaled with the feet, and five other motorized bicycle models in China, Southeast Asia, Europe, and Japan by 2024.

Electric motorcycles face the problem that on-board batteries are expensive and production costs are more than 50% higher than those of internal combustion engine models. Honda plans to increase its global sales to 1 million units by 2026, and further to 3.5 million units by 2030. However, demand for internal combustion engines is strong in emerging countries, and Honda intends to maintain its annual production capacity of 20 million two-wheeled gasoline vehicles until 2030.

Source: The Nikkei

PSR Analysis: Honda is finally bringing an electric model to the consumer market. Yamaha already sells the E-Vino to individuals. Harley is spinning off its electric motorcycle division to attract investment, and India’s Hero will release its VIDA electric motorcycle in 2022 and is working with a U.S. company to develop new products.

All companies are very ambitious about electric motorcycles, but there are still many challenges to be overcome before they become widespread. As a first mover example, Taiwan’s Gogoro is doing well by developing a network of battery exchange stations. Honda’s EM1e is equipped with a single replaceable battery, and by taking the battery pack home after use and recharging it at a power outlet at home, the vehicle can start running the next day with a fully charged battery.

The handle makes the battery look easy to carry, but at 10.3 kg, it may be difficult for women to accept it. The spread of battery exchange station networks like those in Taiwan has just begun in Japan, and charging stations in urban areas are still in their infancy. PSR

Akihiro Komuro is Research Analyst, Far East and Southeast Asia for Power Systems Research

2023-04-16

DATAPOINT: NA ATV 2023 Production

DataPoint – ATVs – Apr 2023Download

288,000 units is the estimate by Power Systems Research of the number of ATVs to be produced in North America in 2023.

ATV is a short term for All Terrain Vehicle. It commonly has 4 wheels and is designed to be driven off road. It seats one person, or sometimes two, one in front of the other.

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2030 PWC Market May Hit $3.01 Billion

Michael Aistrup
Michael Aistrup

Personal watercraft (PWC), often known as a jet ski, is a watercraft that can carry as many as three people. A PWC Sit-Downs is defined as a vessel specifically designed to haul up to three riders in a sitting position, one in front of another. A PWC Stand-Up is a type of PWC designed for one rider standing or kneeling on the watercraft.

The PWC has wide uses, ranging from recreation and racing to many types of utility. PWCs are used to help with rescue missions as they are small, fast, and easy to operate. Local and county law organizations use PWCs to ensure the safety and security of persons engaged in watersports.

Market Size. According to Power Systems Research, the global market size for PWCs is expected to grow at a CAGR of 5.7% between 2022 and 2030. Global revenue for 2030 is forecasted to be $3.01 billion.

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2023-04-10

DATAPOINT: NA ATVs, 2023 Production

288,000 units is the estimate by Power Systems Research of the number of ATVs to be produced in North America in 2023.

ATV is a short term for All Terrain Vehicle. It commonly has 4 wheels and is designed to be driven off road. It seats one person, or sometimes two, one in front of the other.

This information comes from industry interviews and from two proprietary databases maintained by Power Systems Research: EnginLink™ , which provides information on engines, and OE Link™, a database of equipment manufacturers.

Market Share: With 28% of total units produced, Polaris leads in the production of 4-wheeled ATVs in North America.  In second position and third position are Honda and Yamaha Motor with 22% and 18.5%, respectively.   PSR

Carol Turner is Senior Analyst-Global Operations, at Power Systems Research