Press release
Personal Watercraft Market Size, Share, Growth, Trends, Market Forecast 2023-2030
Personal Watercraft Market - DataM Intelligence 4Market Research
In recent years, the global personal watercraft industry has grown rapidly, due to increased leisure activities, rising disposable incomes, and a growing interest in water sports.
The rise in water-based leisure activities has been a major driver of the personal watercraft market's expansion.
People all around the world are looking for adrenaline-pumping experiences and excitement, which has contributed to the rise in popularity of personal watercraft. Governments, particularly in coastal areas and famous tourist locations, are investing in water sports infrastructure, making it easier to access lakes, rivers, and seas, therefore supporting industry development.
The recreational watercraft sector leads the watercraft type category, with significant growth and more than a quarter of the market share. The phenomenal growth may be ascribed to the growing popularity of recreational boats and their capacity to provide water lovers with a unique and exciting experience. Similarly, North America leads the personal watercraft system industry, accounting for more than a quarter of the total. The area has a lot of potential in this sector, thanks to the growing popularity of water-based leisure activities and higher disposable incomes.
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Market Driving Factors
Expanding Water-based Infrastructure, Tourism and Water-based Adventure
The construction of water-based infrastructure has also aided the growth of the personal watercraft business. Consumers may now access and enjoy watercraft activities more easily because of the increased availability of marinas, docking facilities, and water sports centres. Government statistics on infrastructure projects and marine development plans demonstrate the worldwide emphasis on constructing and updating water sports facilities. Such advancements assist not just the personal watercraft sector but also water-based tourism and leisure activities.
The expanding tourist sector and the growth of water-based adventure areas have increased the worldwide personal watercraft market tremendously. Governments all around the globe are investing in promoting water sports and adventure tourism, which is fostering development in personal watercraft sales and rentals. Statistics from tourist authorities in Thailand, Mexico, and the United Arab Emirates show a significant growth in water sports tourism. These locations provide a variety of water-based activities, including jet skiing, which has drawn both domestic and foreign visitors, increasing demand for personal watercraft.
Market Segmentation
The global Personal Watercraft Market is segmented by seating capacity, watercraft type, and by hull.
By Seating Capacity
• Standing
• One Seat Capacity
• Two Seat Capacity
• Three Seat Capacity
By Watercraft Type
• Recreational Watercraft
• Muscle Watercraft
• Luxury Watercraft
• Performance Watercraft
• Sports Watercraft
By Hull
• Plastics
• Composites
Key Developments
• In 2022, Yamaha launched Yamaha VX Limited HO. The VX Limited HO is equipped with advanced safety features and a spacious storage system, enhancing the overall user experience and convenience.
• In 2021, Kawasaki Jet Ski introduced the Ultra 310LX in 2021, a top-of-the-line personal watercraft model designed for thrill-seekers and water sports enthusiasts. The Ultra 310LX boasts a powerful engine, providing impressive acceleration and top speeds. Additionally, it features a comfortable and luxurious seating arrangement, ensuring riders can enjoy extended water adventures without discomfort.
Major Companies Covered
Some of the prominent companies contributing to the Personal Watercraft Market growth include Honda Motors Co. Ltd., BRP Inc., Yamaha Motors Co. Ltd., Kawasaki Motors Corp., Lampuga, Jiujiang Poseidon Motorboat Manufacturing Co. Ltd., BRO Inc, Arctic cat Inc, Polaris Industries and SLVH s.r.o.
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