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Personal Watercraft Market is projected to expand at a steady CAGR over the forecast by 2031 | Yahama Motors Co. Ltd., BRP Inc., Honda Motors Co. Ltd.
Personal Watercraft Market
Read more about Personal Watercraft Market here: https://www.globalinsightservices.com/reports/personal-watercraft-market/
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:
1. 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.
2. 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.
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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.
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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