What is Global Personal Watercraft Market?
The Global Personal Watercraft Market is a vast and dynamic sector that encompasses a variety of watercrafts designed for personal use. These watercrafts, often referred to as jet skis, wave runners, or sea-doos, are primarily used for recreational purposes. They are small, fast, and can be ridden like motorcycles on water. The market for these watercrafts is global, with demand and supply chains spread across the world. The market is influenced by a variety of factors, including technological advancements, consumer preferences, and economic conditions. Despite the challenges posed by the COVID-19 pandemic, the market has shown resilience and is expected to grow in the coming years. However, the market is also subject to certain constraints, such as environmental concerns and regulatory issues.
Below 800 CC, 800 CC-1000CC, 1000CC-1500CC, More than 1500CC in the Global Personal Watercraft Market:
The Global Personal Watercraft Market is segmented based on engine capacity, namely Below 800 CC, 800 CC-1000CC, 1000CC-1500CC, and More than 1500CC. Each segment has its unique characteristics and caters to different consumer needs. The Below 800 CC segment is popular among beginners and casual riders due to its ease of use and affordability. The 800 CC-1000CC segment offers a balance of power and control, making it suitable for intermediate riders. The 1000CC-1500CC segment is the most popular, offering high performance and speed for experienced riders. The More than 1500CC segment, on the other hand, caters to professional riders and enthusiasts seeking extreme performance and speed. Each segment has its market dynamics influenced by factors such as consumer preferences, technological advancements, and economic conditions.
Home/Individual Use, Commercial Use, Others in the Global Personal Watercraft Market:
The Global Personal Watercraft Market finds its application in various areas including Home/Individual Use, Commercial Use, and Others. Home/Individual Use is the most common application, with individuals purchasing personal watercrafts for recreational purposes such as water sports and leisure activities. Commercial Use includes applications in sectors like tourism, where personal watercrafts are rented out to tourists for recreational activities. The Others category includes uses in professional water sports competitions, rescue operations, and patrol services. Each application has its market dynamics, influenced by factors such as consumer preferences, technological advancements, and economic conditions.
Global Personal Watercraft Market Outlook:
The Global Personal Watercraft Market has shown promising growth in recent years. In 2022, the market was valued at US$ 1658.6 million and is projected to reach US$ 2129.7 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 4.9% during the forecast period from 2023 to 2029. The market is dominated by the top three manufacturers, who collectively hold a market share of over 90%. In terms of product segmentation, the 1000CC-1500CC segment holds the largest market share, accounting for over 65% of the total market. This segment's dominance can be attributed to its high performance and speed, which are preferred by experienced riders.
| Report Metric | Details |
| Report Name | Personal Watercraft Market |
| Accounted market size in 2022 | US$ 1658.6 in million |
| Forecasted market size in 2029 | US$ 2129.7 million |
| CAGR | 4.9% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | BRP, Yamaha Motor, Kawasaki, KRASH Industries, Belassi, Sanjiang, HISON |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
