Market Highlights
Personal watercraft (PWC), often known as water motorbikes, is a type of watercraft having a hull that is 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 have the ability to 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.
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 did not witness any decline since 2011, proving the segment as one of the most attractive ones in the family of powerboats and Powersports. 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. Overall, in the long run, the market is estimated to grow at a CAGR of 6.8% during 2022-2027 to reach a value of US$ 3.6 Billion by 2027.
Market Segments' Analysis
Based on the type, the personal watercraft market is segmented as 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.
Similarly, based on the seating capacity, the market is segmented as stand, 1-seating capacity, 2-seating capacity, and 3-seating capacity. It is expected that the 3-seating capacity segment would dominate the market during the forecast period, owing to the large preference of the users for the same.
In terms of regions, North America is expected to remain the largest market for personal watercraft during the forecast period. In 2021, the region accounts for over 80% share of the global market. 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 is expected to drive the region’s personal watercraft market during the forecast period.
Key Players
The following are the key players in the personal watercraft market:
- BRP Inc.
- Yamaha Motor Co., Ltd.
- Kawasaki Motors Corp.
- Arctic Cat Inc. (Textron)
- Polaris Inc.
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 in order 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.
Report Features
This report provides market intelligence in the most comprehensive way. 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. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The personal watercraft market is segmented into the following categories:
Personal Watercraft Market, by Boat Type
- Recreational (Trend and Forecast)
- Muscle (Trend and Forecast)
- Luxury (Trend and Forecast)
- Performance (Trend and Forecast)
- Sports (Trend and Forecast)
Personal Watercraft Market, by Seat Type
- Stand (Trend and Forecast)
- 1-Seating Capacity (Trend and Forecast)
- 2-Seating Capacity (Trend and Forecast)
- 3-Seating Capacity (Trend and Forecast)
Personal Watercraft Market, by Region
- North America (Trend and Forecast)
- Europe (Trend and Forecast)
- Asia-Pacific (Trend and Forecast)
- Rest of the World (Trend and Forecast)
Report Customization Options
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
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
