Personal Watercraft Global Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Personal Watercraft Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $3.21 billion In 2028 At A CAGR Of 6.6%.

The personal watercraft market size has grown strongly in recent years. It will grow from $2.32 billion in 2023 to $2.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to introduction of stand-up personal watercraft, adoption of 2-stroke engine technology, growth of recreational boating and water sports, rise in consumer disposable income, influence of popular watercraft events and races
.

The personal watercraft market size is expected to see strong growth in the next few years. It will grow to $3.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to expansion of rental services for personal watercraft, evolution of safety features in pwc, increasing focus on lightweight and compact pwc models, rise of electric and hybrid personal watercraft models, expansion of women-centric and family-friendly pwc models. Major trends in the forecast period include technological advancements in pwc design, technological innovations in hull materials and design, introduction of eco-friendly and sustainable watercraft, integration of smart and iot technologies in pwc, integration of ai for enhanced safety and navigation, development of pwc with augmented reality (ar) interfaces.

Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=12525&type=smp

Personal Watercraft Market Major Segments
The personal watercraft market covered in this report is segmented -

1) By Watercraft Type: Recreational Watercraft, Muscle Watercraft, Luxury Watercraft, Performance Watercraft, Sports Watercraft
2) By Seat Capacity Type: One Seat, Two Seat, Three Seat, Standing
3) By Hull Type: Composites, Plastic
4) By Engine Displacement: Below 800 CC (Cubic Capacity), 800-1000 CC (Cubic Capacity), 1000-1500 CC (Cubic Capacity), Above 1500 CC (Cubic Capacity)

Key Driver - Rising Interest In Outdoor Recreation Fuels The Expansion Of The Personal Watercraft Market

The growing interest in outdoor recreational activities is expected to propel the growth of the personal watercraft market going forward. 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. For instance, in January 2022, according to the Outdoor Industry Association, a US-based non-profit organization, in 2021, 164.2 million, or 54% of Americans aged six and older, reported having engaged in outdoor recreation at least once, resulting in an outdoor participation increase of 6.9% from 2020. Further, a net gain of 3.5 million more people participated in outdoor activity in 2021. Additionally, a record 6.8 million Americans participated in outdoor activities for the first time in 2021. Therefore, the growing interest in outdoor recreational activities is driving the growth of the personal watercraft market.

Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=12525&type=smp

Prominent Trend - Technological Advancements Drives Innovation In The Personal Watercraft Market

Technological advancement is a key trend gaining popularity in the personal watercraft market. 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.

Personal Watercraft Market Players
Major companies operating in the personal watercraft market report 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., Krash Industries Jet Ski Group, Nautique Boat Company, Sealegs International Ltd., O'Brien Watersports, Four Winns Boats, Bayliner, BELASSI GmbH, Kymco USA, Supra Boats, Rickter-RRP Performance Inc., Kawasaki Motors Corp., Jiujiang Poseidon Motorboat Manufacturing Co. Ltd., Lampuga GmbH, Meyer Bootswerft GmbH, SLVH s.r.o., Hubei Sanjiang Boats Science & Technology Co. Ltd.

View The Full Report Here - https://www.thebusinessresearchcompany.com/report/personal-watercraft-global-market-report

Largest And Fastest Growing Region In The Market
North America was the largest region in the personal watercraft market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the personal watercraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Personal Watercraft Market Report Structure
3. Personal Watercraft Market Trends And Strategies
4. Personal Watercraft Market - Macro Economic Scenario
5. Personal Watercraft Market Size And Growth
…..
27. Personal Watercraft Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.