Personal Watercraft Market to witness 4.7% CAGR during 2016 to 2021

Stratview Research has published a new research report on Personal Watercraft Market. This extensive report by Stratview Research analyses the growth of Personal Watercraft Market over the trend period of 2010 to 2015 and forecast period of 2016 to 2021 under the following segments -
• by Watercraft Type (Recreational Watercraft, Muscle Watercraft, Luxury Watercraft, Performance Watercraft, Sports Watercraft)
• by Seating Capacity Type (Standing, One Seat Capacity, Two Seat Capacity, Three Seat Capacity)
• by Hull Type (Plastics, Composites)
• by Region (North America, Europe, Asia-Pacific, Rest of the World)

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Increasing demand for personal watercrafts
The global personal watercraft market offers a healthy growth opportunity and is likely to witness 4.7% CAGR during the forecast period of 2016 to 2021. 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.

Recreational and muscle watercrafts to remain the most dominant in the 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 2015 were from three seater watercrafts.
Recreational and muscle watercrafts together accounted for more than 70% of the global personal watercraft demand in 2015 and are likely to remain the largest watercraft types during the forecast period.

Increasing use of composites in personal watercrafts
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.

The US is the growth engine the market
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.

Top market players
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 BRP Inc., Yahama Motors, and Kawasaki Motors. 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.

Why Stratview Research
Our 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 on 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:
• Personal Watercraft Market overview, industry life cycle analysis, supply chain analysis
• Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend (2010 – 2015) and forecast analysis (2016-2021) of each segment.
• Competitors’ market share, product portfolio and new launches.
• Growth opportunities in each segment.
• Emerging trends which will decide the future course of development.
• Strategic growth opportunities for the existing and new players
• Key success factors.

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This release was published on openPR.