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Personal Watercraft Market Analysis, Trends, Growth, Research And Forecast 2032
Personal Watercraft Market
The Business Research Company's Personal Watercraft Global Market Report 2023 identifies the growing interest in outdoor recreational activities as the major driver for thepersonal watercraft market's growth in the forecast period. Outdoor recreational activities refer to leisure activities that are performed outside, usually in natural environments. Personal watercraft can be used for a variety of outdoor recreational pursuits, such as jet skiing, watercraft touring, wakeboarding, waterskiing, tubing, and leisurely exploration of the lake or coastal locations by allowing the transportation of cargo and two passengers.
The global personal watercraft market is expected to grow from $2.15 billion in 2022 to $2.32 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The personal watercraft market is expected to reach $3 billion in 2027 at a CAGR of 6.6%.
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Major competitors in thepersonal watercraft market are Honda Motors. Co. Ltd., Yamaha Motors Co. Ltd., Polaris Inc., BRP Inc., Mercury Marine Ltd., Sanlorenzo S.p.a, MasterCraft Boat Holdings Inc., Arctic Cat Inc., Malibu Boats Inc., Sea-Doo, Tige Boats Inc., Sea Ray Boats, Zapata Racing, Lomac Nautica S.r.l.
A key trend in thepersonal watercraft market includes technological advancement. Major companies operating in the personal watercraft market are developing innovative products with advanced features to sustain their position in the market. For instance, in July 2022, Taiga Motors, a Canada-based vehicle company, launched Orca, the world's first electric personal watercraft (PWC) based on cutting-edge technology. It redefines the personal watercraft experience with power efficiency, intelligent connectivity, silent operation, and no engine maintenance. It has a unique carbon fiber composite hull that is hydrodynamically engineered for dynamic handling. The hull's design results in a leading power-to-weight ratio, meaning the watercraft has a high-power output relative to its weight. The hull is also available in customizable color combinations.
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Thepersonal watercraft market is segmented -
• By Product Type: Chairs And Stools, Tables And Desks, Storage Furniture, Sofa And Couch, Other Product Types
• By Materials: Upholstered, Non-Upholstered
• By Distribution Channel: Offline, Online
• By End-User: Government, Corporate Offices, Institutional, Healthcare Or Medical Facilities, Hospitality, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in thepersonal watercraft market.
The Business Research Company's "Global Personal Watercraft Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Personal Watercraft Market Include:
1. Executive Summary
2. Personal Watercraft Market Characteristics
3. Personal Watercraft Market Trends And Strategies
4. Personal Watercraft Market - Macro Economic Scenario
5. Global Personal Watercraft Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
……
32. Global Personal Watercraft Market Competitive Benchmarking
33. Global Personal Watercraft Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Personal Watercraft Market
35. Personal Watercraft Market Future Outlook and Potential Analysis
36. Appendix
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