Electric Power Sports Market Size

Electric Power Sports Market size was estimated at USD 2.7 billion in 2024 and is projected to attain USD 9.5 billion in 2037, surging at a CAGR of 11.1% during the forecast period i.e. 2025 to 2037. In 2025, the industry size of electric power sports is assessed at USD 3 billion.

The electric power sports industry is experiencing profitable growth due to the growing demand for electric propulsion systems. Electric sports vehicles are becoming increasingly popular with consumers due to their improved performance, reduced operating costs, and environmental friendliness. For instance, in February 2023, Lynx and Ski-Doo introduced their newest electric snowmobiles, the Adventure Electric and Grand Touring Electric models. These models offer a unique riding experience making them ideal for beginners keen to learn more about the sport of snowmobiling.

The electric power sports market is being driven by the incorporation of system-on-modules for GPS navigation, a digital dashboard, and wireless connectivity via Bluetooth, Wi-Fi, and LTE cellular networks. These cutting-edge technologies improve the user experience by offering seamless connectivity, real-time data, and navigation support. For instance, in January 2024, Altmin made a major milestone in the value chain of the EV market by investing USD 100 million in the development of lithium-ion batteries in India, along with a 3 GWh plant. The use of such integrated systems in electric power sports vehicles is increasing market growth and competitiveness as consumers seek convenience and connectivity more and more in their outdoor recreational activities.