Personal Watercraft Market Report
Personal Watercraft Market is Segmented by Watercraft type (Recreational, Muscle, Luxury, Performance, and Sports), by Seat Capacity Type (Standing, One Seat, Two Seat, and Three Seat), by Hull Type (Plastics and Composites), by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Personal Watercraft Market is Segmented by Watercraft type (Recreational, Muscle, Luxury, Performance, and Sports), by Seat Capacity Type (Standing, One Seat, Two Seat, and Three Seat), by Hull Type (Plastics and Composites), by Region...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The global personal watercraft market offers a healthy growth opportunity and is likely to witness >4% CAGR during the forecast period of 2020 to 2025. The top brands in the global personal watercraft market are Sea Doo of the BRO Inc. and the FX Cruiser of the Yahama Motors. Recovery of the global economy and increasing disposable income are the major drivers of the personal watercrafts market.
Personal watercrafts generally come in two varieties. One requires the riders to stand and another requires the riders to be in a seating position (up to three people). Personal watercraft with seating capacity of three people are widely preferred in the market. More than 80% of the personal watercraft sales in 2019 were from three seater watercrafts.
Recreational and muscle watercrafts together accounted for more than 70% of the global personal watercraft demand in 2019 and are likely to remain the largest watercraft types during the forecast period.
Composites are a material of choice for fabricating the key structural components of personal watercrafts across the globe. All watercraft manufacturers are heavily relying on the composites technology for fabricating their major structural components, such as hull and deck. Plastics are also used to build hulls for the low cost and low performance watercrafts.
North America is expected to remain the largest market for personal watercrafts in the next five years. The US is the growth engine of the North American and the global personal watercraft market. Asia-Pacific is relatively smaller market but is likely to witness the fastest growth during the forecast period, driven by the high demand of power sports.
All the major watercraft manufacturers have set up PWC manufacturing plant in North America to tap the market potential in the US. New product development, vast product portfolio, in-house component manufacturing, and presence in the key markets are the key strategies adopted by the key players to gain competitive edge in the market.
The supply chain of this market comprises raw material suppliers, watercraft component manufacturers, personal watercraft manufacturers, and distributors. The global personal watercraft market is highly consolidated with the presence of less than half a dozen players. The key personal watercraft manufacturers are-
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Trend & Forecast Period
>4% CAGR during 2020-2025
North America, Europe, Asia-Pacific, Rest of the World
Figures & Tables
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The market is segmented in the following ways:
Personal Watercraft Market Size, Share & Forecast by Watercraft Type:
Personal Watercraft Market Size, Share & Forecast by Seating Capacity Type:
Personal Watercraft Market Size, Share & Forecast by Hull Type:
Personal Watercraft Market Size, Share & Forecast by Region:
This report, from Stratview Research, studies the global personal watercraft market over the period 2014 to 2025. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Driven by a number of factors like Recovery of the global economy and increasing disposable income, the personal watercraft market is projected to grow at a CAGR of >4% during 2020-2025.
North America is expected to remain the largest market for personal watercrafts in the next five years. The US is the growth engine of the North American and the global personal watercraft market.
BRP Inc., Yahama Motors, and Kawasaki Motors. are among the key players in the personal watercraft market.
Recreational and muscle watercrafts are likely to remain the largest watercraft types during the forecast period.
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