Driven by Recovery of the global economy and increasing disposable income, Personal Watercraft Market zooms at CAGR of 4.7%
Market & Growth Prognosis: Analyzing the market over a period of 2010-15 Stratview Research goes to the crux of the issues shaping the market and estimates the most probable future growth rate for the Personal Watercraft Market during the period 2016-21.Stratview Research triangulates the market to grow at a healthy CAGR of 4.7% over the next five years.
The Diverse Stand Points
The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives better understanding of the market. The market of Personal Watercraft has been viewing from various perspectives such as:
Dissection By (Segments)
1. Watercraft Type (Recreational Watercraft, Muscle Watercraft, Luxury Watercraft, Performance Watercraft, Sports Watercraft)
2. Capacity (Standing, One Seat Capacity, Two Seat Capacity, Three Seat Capacity)
3. Hull Type (Plastics, Composites)
4. By Region (North America, Europe, Asia-Pacific and Rest of the World)
Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
● Which are the best performing segments of the market?
● Which is the most dominant region?
● Which material is the most promising?
● Who are the movers and shakers of the market?
● What are the regional growth hotspots?
● What are the segmental growth forecasts?
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The Factors Driving the market
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.
The rise of Recreational and muscle watercrafts
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.
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.
Driven by demand, North America has the hegemony over 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.
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The Report Highlights:
The Research Report offers a detailed look into market, its robust growth perspective, the factors influencing the industry, the competition intensity and a peek into the future.
The following are the key features of the report:
● Strategic segmentation
● Market analysis: Growth drivers and constraints, Porter’s five forces
● analysis, SWOT analysis
● Detailed Competitive Rivalry landscaping
● Market trend and forecast analysis
● Future Growth Boulevards
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