Global Personal Watercraft Market report from Global Insight Services is the single authoritative source of intelligence on Personal Watercraft Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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A personal watercraft (PWC), also called a jet-ski, is a type of small, lightweight boat that is propelled by a jet of water. PWCs are designed for one or two people and are typically used for recreation, racing, and touring.
Key Trends
The key trends in personal watercraft technology are:
- Improved fuel efficiency : thanks to advances in engine technology, personal watercraft are now more fuel efficient than ever before. This is great news for those who enjoy spending time on the water, as it means more time exploring and less time refueling.
- Increased safety : new safety features such as GPS tracking and emergency beacons are making personal watercraft safer than ever before. These features can help rescuers locate a lost or injured rider, and can even provide vital information about the watercraft itself.
- More powerful engines : personal watercraft are now available with engines that pack a serious punch. This is great news for those who enjoy watersports, as it provides more power for towing and other activities.
- Improved comfort : newer models of personal watercraft are designed with rider comfort in mind. This means that they feature ergonomic seating, better climate control, and other features that make them more enjoyable to ride.
Key Drivers
There are a few key drivers of the personal watercraft market.
Firstly, the increasing popularity of watersports is driving growth in the market. This is especially true in areas with warm climates and a large number of lakes and rivers, such as the United States.
Secondly, the development of new technologies is making personal watercraft more affordable and accessible. This includes the development of electric and hybrid models, which are becoming increasingly popular.
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Finally, the growth of the tourism industry is also driving demand for personal watercraft, as they are often used for recreation and sightseeing.
Restraints & Challenges
The key restraints and challenges in the personal watercraft market include the high cost of ownership, the need for specialized training, and the limited availability of waterways.
The high cost of ownership is a major barrier to entry for many potential buyers. Personal watercraft can cost upwards of $10,000, which is a significant investment for most people. In addition to the initial purchase price, owners must also factor in the cost of fuel, insurance, and maintenance.
Specialized training is another key challenge facing the personal watercraft market. Unlike other forms of recreation, personal watercraft require operators to obtain a special boating license. The process of obtaining a license can be time-consuming and expensive, which deters many potential buyers.
The limited availability of waterways is another key challenge facing the personal watercraft market. In many parts of the world, personal watercraft are only able to be used in specific areas such as lakes or rivers. This limits the potential market for personal watercraft and makes it difficult for manufacturers to reach a wide audience.
Market Segments
The Personal Watercraft Market is segmented by type, seat capacity, hull type, and region. By type, the market is divided into sports, recreational, performance and luxury. Based on seat capacity, it is bifurcated into one seat, two seat, three seat, and standing. On the basis of hull type, it is classified into composites and plastic. Region-wise, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Personal Watercraft Market includes players such as Yahama Motors Co. Ltd., BRP Inc., Honda Motors Co. Ltd., Lampuga, Kawasaki Motors Corp., Hubei Sanjiang Boats Science & Technology Co. Ltd., Jiujiang Poseidon Motorboat Manufacturing Co. Ltd., Polaris Industries, Arctic Cat Inc. and Meyer Bootswerft.
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