Personal Watercraft Market Analysis | 2022-2027

“The Personal Watercraft Market is expected to grow at a CAGR of 6.8% during 2022-2027 to reach US$ 3.6 billion by 2027.” 

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Market Dynamics

Introduction

A personal watercraft (PWC), often known as a water motorbike, is a type of watercraft with a hull driven by an engine. The watercraft is designed in such a way that it does not hold water if it capsizes. These are swift and can change direction in the water. Furthermore, it is controlled by a person who either stands or sits on the watercraft. It is gradually becoming a popular choice for sports and recreational activities.

Market Drivers

Manufacturers are concentrating on developing technologically advanced PWCs that result in less pollution. PWCs have been powered by two-stroke engines since their inception, but because of advancements in technology, they are now driven by state-of-the-art four-stroke engines.

The PWCs market has not witnessed any decline since 2011, proving the segment as one of the most attractive ones in the family of powerboats and power sports. Even in 2020 when most of the vehicle types registered an enormous decline, PWC came out as the high-growth segment and registered double-digit growth. 

Segments Analysis

By Boat Type

“Recreational watercraft dominates the market during the forecast period.”

The personal watercraft market is segmented into recreational, muscle, luxury, performance, and sports. Recreational watercraft is estimated to remain the most dominant type during the forecast period. One of the primary factors driving the growth of personal watercraft is the increased engagement in water sports activities around the world.

The growing demand for personal watercraft among police organizations, such as maritime police, to ensure the safety and security of persons engaged in watersports as well as its significant utilization as a recreational and sporting alternative, are propelling the market growth.

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By Seat Type

“3-seating capacity segment dominates the market during the forecast period.”

The market is segmented into stands, 1-seating capacity, 2-seating capacity, and 3-seating capacity. It is expected that the 3-seating capacity segment will dominate the market during the forecast period, owing to the large preference of the users for the same.

Regional Analysis

“North America is the largest market for personal watercraft accounting for over 80% market share in 2021.” 

This is largely due to the presence of numerous original equipment manufacturers (OEMs) and the increasing demand for personal watercraft in the region for recreational and sports applications. Likewise, increasing investments in sports and recreational activities in several European countries are expected to drive the region’s watercraft market during the forecast period.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.  

The following are the key players in the personal watercraft market (arranged alphabetically).

• Arctic Cat Inc. (Textron)
• BRP Inc.
• Kawasaki Motors Corp.
• Polaris Inc.
• Yamaha Motor Co., Ltd.

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s PWC market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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