The personal watercraft market caters to water enthusiasts with a wide range of applications, features, and benefits. These compact water vessels find use in recreational activities such as watersports, touring, and leisure cruising. Key features of personal watercraft include powerful engines, lightweight construction, and maneuverability for agility on the water. The benefits of personal watercraft encompass adrenaline-pumping adventures, easy transportability, and fuel efficiency. Personal watercraft provide an exhilarating experience for riders, allowing them to explore waterways, enjoy high-speed thrills, and access remote destinations, making them a popular choice for aquatic fun and exploration.
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Data Bridge Market Research analyses that the Global Personal Watercraft Market, which was USD 16,93,659 thousand in 2022, is expected to reach USD 2,464,428.62 thousand by 2030, growing at a CAGR of 4.8% during the forecast period of 2023-2030. Rising income levels enable a larger portion of the population to purchase personal watercraft, expanding access to recreational water activities and boosting the demand for these vessels in the market.
Key Findings of the Study
Rental and sharing services are expected to drive the market's growth rate
The proliferation of rental and sharing services in the personal watercraft market broadens accessibility to a wider demographic. These services allow individuals who might not otherwise invest in owning a personal watercraft to enjoy water-based recreational activities. It reduces the financial commitment of ownership and encourages more people to experience the thrill of personal watercraft, thus expanding the market's reach and catering to diverse consumer preferences.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in Thousand, Pricing in USD, Volumes in Units
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Segments Covered
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Type (Sit-Down Model and Stand-Up Model), Components (Engine, Drive Shift, Intake Grate, Impeller, Steering Nozzle, Steering Control, Speedometer, Safety Switch, and Others), Propulsion Type (IC Engines and Electric), Hull Type (Plastic and Composite), Functionality (Accessory Package, Auto Trim, Connext Screen, Custom-Tuned Electric TRIM, Foot Chocks, Optional Audio Speakers, Ride, and Others), Series (REC Lite, Recreation, Freestyle, Performance, and Luxury), Seat Model (Double, Single, Triple, and Others), Distribution Channel (Direct Channel and Indirect Channel), End-User (Rental, Government, and Individual).
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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BRP (Canada), Yamaha Motor Co., Ltd. (Japan), Kawasaki Heavy Industries, Ltd. (Japan), NARKE (Hungary), Gibbs Sports Amphibians, Inc. (U.S.), BELASSI GmbH (Austria), X Scream Inc (U.S.), Mackinnon Marine Technologies (Canada), VQ yachts (Netherlands), Krash Industries (U.S.), Nicholas (U.S.), Strand Craft Design LLC. (U.S.), E-DOLPHIN (Estonia), Jiujiang Hison Motor Boat Manufacturing Co., Ltd (China), Pro Watercraft (U.S.), Short Block Technologies, Inc. (U.S.), TAIGA MOTORS INC. (Canada)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The global personal watercraft market is segmented on the basis of the type, components, seat model, functionality, series, propulsion type, hull type, distribution channel, and end-user.
- On the basis of type, the global personal watercraft market is segmented into sit-down model and stand-up model.
- On the basis of components, the global personal watercraft market is segmented into engine, drive shift, intake grate, impeller, steering nozzle, steering control, speedometer, safety switch, and others.
- On the basis of propulsion type, the global personal watercraft market is segmented into IC engines and electric.
- On the basis of hull type, the global personal watercraft market is segmented into plastic and composite.
- On the basis of functionality, the global personal watercraft market is segmented into accessory package, auto trim, connext screen, custom-tuned electric TRIM, foot chocks, optional audio speakers, ride, and others.
- On the basis of the seat model, the global personal watercraft market is segmented into double, single, triple, and others.
- On the basis of distribution channel, the global personal watercraft market is segmented into direct channel and indirect channel.
- On the basis of end-user, the global personal watercraft market is segmented into rental, individual, and government.
Major Players
Data Bridge Market Research recognizes the following companies as the major global personal watercraft market players in global personal watercraft market are BRP (Canada), Yamaha Motor Co., Ltd. (Japan), Kawasaki Heavy Industries, Ltd. (Japan), NARKE (Hungary), Gibbs Sports Amphibians, Inc. (U.S.), BELASSI GmbH (Austria), X Scream Inc (U.S.), Mackinnon Marine Technologies (Canada), VQ yachts (Netherlands).
Market Developments
- In October 2021, BRP proudly announced its recognition by Good Design Japan for its innovative design contributions to Sea-Doo products. This prestigious acknowledgment has instilled confidence in the company's offerings, luring new customers and propelling revenue growth. The award underscores the company's commitment to design excellence and quality, solidifying its reputation in the market.
- In 2021, Yamaha Watercraft Group introduced its latest innovation, the "Four-Stroke SuperJet," a cutting-edge personal watercraft. This new model boasts advanced features and technologies, setting it apart in the market. With its four-stroke engine, it promises enhanced performance and efficiency, catering to water sports enthusiasts seeking a thrilling and reliable watercraft experience. Yamaha's commitment to innovation positions the SuperJet as a standout addition to its lineup.
Regional Analysis
Geographically, the countries covered in the major global personal watercraft market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Asia-Pacific dominates global personal watercraft market during the forecast period 2023 - 2030
Asia-Pacific dominates the personal watercraft market. This can be attributed to the rapid technological advancements in the sector and a growing preference for cleaner and quieter watercraft. The adoption of eco-friendly and innovative models aligns with China's commitment to environmental sustainability. These factors collectively contribute to China's leadership in the personal watercraft market, with increasing demand for modern and environmentally conscious water vessels.
North America is expected to dominate global personal watercraft market during the forecast period 2023 - 2030
North America is expected to dominate the market and particularly United States is anticipated to lead the personal watercraft market, primarily driven by a surge in adventure sports participation throughout North America. This region's growing enthusiasm for water-based recreational activities, including jet skiing and watersports, fuels the demand for personal watercraft. The U.S. market benefits from a robust outdoor adventure culture and a desire for thrilling aquatic experiences, positioning it as a dominant player in the personal watercraft industry.
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