News: Recreational Products

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

2023-03-26

Electric Boat Market Forecast To Grow by 12%

Michael Aistrup
Michael Aistrup

Gas-powered engines have been the backbone of boating since the advent of the internal combustion engine, but electric-powered boats could soon be claiming a significant share of the market.

Most of the fuel used in transportation is petroleum-based, but initiatives by many governments to reduce carbon emissions and to encourage consumers to adopt eco-friendly boats and ships is expected to boost growth of the electric boat market. The electric boat industry is still in early stages of development and there is a potential for growth.

Electric boats are defined as marine vessels with electric drive as propulsion. Electric boats can be only electric, hydrogen fuel cell electric, or hybrid electric.

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U.S. Powersports Industry Grows in 2021

Michael Aistrup
Michael Aistrup

The U.S. Department of Commerce’s Bureau of Economic Analysis (BEA) has released economic data for 2021 showing the outdoor recreation industry’s impact on the U.S. economy. Key highlights from the 2021 data on the U.S. outdoor recreation economy include: 1. $862 billion in economic output; 2. 1.9% of GDP, and 3. 4.5 million jobs.

Trips and travel have come back, record sales in many outdoor segments, manufacturing increasing, as well as the drive to continue to recreate for quality of life has allowed the outdoor industry to bounce back from the effects of COVID-19.

“The continued strength of the outdoor economy is no surprise to the marine industry, where we continue to see incredible growth with new and younger customers taking to our brands each year,” said Chris Drees, President of Mercury Marine, the world’s leading manufacturer of recreational marine propulsion engines.

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2022-11-15

Korean Electric Motorcycle Maker Builds Factory in Vietnam

FAR EAST: SOUTH KOREA REPORT

Zio Holdings, a South Korean company engaged in the production and sale of electric motorcycles, says it has completed an electric motorcycle factory in Bac Ninh Province in northern Vietnam.

The factory covers an area of 1,300 m2 and has an annual production capacity of 12,000 units. The factory will receive parts supplied from original brand factories in Vietnam and China and will assemble the parts at ZIO EV’s factory in Vietnam.

The electric bikes to be manufactured at the new factory will be named “EDEN” and “MEVOYEZ,” and will use LFP batteries (lithium-ion iron phosphate batteries). The maximum speed is 55Km/h, and the driving range is over 150km. The selling price is expected to be 30 million VND (approximately 176,000 yen).

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DATAPOINT: North America Utility Vehicles, 2022 Production: 432,700 Units

432,700 units is the estimate by Power Systems Research of the number of Utility Vehicles to be produced in North America (United States, Canada and Mexico) in 2022.

Four-wheel off-road Utility Vehicles with side-by-side seating are designed to be used in a variety of recreational, industrial and military applications. When equipped with dumpers, they are commonly used for landscaping, dumping and transporting light materials. Vehicles can be customized with enclosed cabs, tool racks, dumpers and more for use on college campuses, parks, corporate campuses and airports. Suppliers offer a wide variety of gas, electric and diesel utility vehicles.

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.

Exports: Canada, up to 90%; Mexico, up to 85% for NA markets, and US, up to 40% worldwide.

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Powersports Market Expected To Exceed US$ 50 Billion

Power Systems Research is forecasting global revenue for the Powersports industry to grow from $31.5 billion in 2020 to US$ 50.91 billion in 2030, a CAGR of 6% over the forecasted period.

Global Powersports Market
All-Terrain Vehicles, Side-by-Side, Powerboats, Snowmobiles and Heavyweight Motorcycles

Drivers-of-Demand. There are many factors driving the global powersports market growth:

  • Increased all-terrain vehicle popularity.
    • These include the rising participation in recreational activities, like surfing, off-road driving, and snowmobiling.
    • According to the International Snowmobile Manufacturers Association around $36 Billion is spent directly and indirectly on snowmobiling in the US and Canada each year.
    • ATVs have lesser age restrictions, lower maintenance costs, are easier to maneuver due to low vehicle weight and are more affordable
    • Rise in use of powersports to boost adventure tourism traveling to new locations for gaining new experiences, with controlled risk components and personal challenges in wild & exotic environments.
    • People are raising the bar for racing by introducing new terrains and challenges.
    • The market in Europe is expected to showcase exponential growth backed by government policies that promote recreational and off-road leisure activities.
    • Global governmental initiatives to boost the tourism industry by assisting recreational clubs in enhancing their service offerings are creating a favorable environment for the market participating in the construction of dedicated infrastructure for recreational and amusement purposes.
  • Technological innovations have played a major role in developing vehicles.
    • New products have increased comfort, power, engineering, and safety.
    • Utility-terrain vehicles (UTVs) have improved durability and adaptability for off-road riding.
    • Growth in investments and rapid innovations in the automotive sector have resulted in improved performance of powersports vehicles. This has resulted in improved vehicle efficiency, reduced noise and higher power of vehicles. Companies are also focusing on developing electric products for quieter more powerful riding.
  • Growing consumer disposable incomes make it easier for customers to purchase leisure and recreational power equipment.
  • Data prepared by the U.S. Bureau of Economic Analysis (BEA) show that outdoor recreational activities accounted for US$ 374.3 billion in 2020, which is 1.8% of the overall U.S. GPD in 2020.
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