Personal Watercraft Market is Forecasted to Reach US$ 3.6 billion in 2027, Says Stratview Research

The global personal watercraft market is projected to witness a growth rate of 6.8% annually from 2022 to 2027, with an anticipated size of US$ 3.6 billion by 2027, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global personal watercraft market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2027: US$ 3.6 billion
Growth (CAGR): 6.8% during 2022-2027
Forecast Period: 2022-2027
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Personal Watercraft Market:

The global personal watercraft market is segmented based on boat type, seat type, and region.

Based on boat type - The personal watercraft market is segmented into recreational, muscle, luxury, performance, and sports. Recreational watercraft is estimated to remain the most dominant type during the forecast period. One of the primary factors driving the growth of personal watercraft is the increased engagement in water sports activities around the world.
The growing demand for personal watercraft among police organizations, such as maritime police, to ensure the safety and security of persons engaged in watersports as well as its significant utilization as a recreational and sporting alternative, are propelling the market growth.

Based on seat type - The market is segmented into stands, 1-seating capacity, 2-seating capacity, and 3-seating capacity. It is expected that the 3-seating capacity segment will dominate the market during the forecast period, owing to the large preference of the users for the same.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/116/personal-watercraft-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is the largest market for personal watercraft, accounting for over 80% market share in 2021. This growth outlook is majorly attributed to the following-

• This is largely due to the presence of numerous original equipment manufacturers (OEMs) and the increasing demand for personal watercraft in the region for recreational and sports applications.
• Likewise, increasing investments in sports and recreational activities in several European countries are expected to drive the region's watercraft market during the forecast period.

Personal Watercraft Market Drivers:

Some of the key drivers listed in the report are given below.
Manufacturers are concentrating on developing technologically advanced PWCs that result in less pollution. PWCs have been powered by two-stroke engines since their inception, but because of advancements in technology, they are now driven by state-of-the-art four-stroke engines.

Top Companies in the Personal Watercraft Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• Arctic Cat Inc. (Textron)
• BRP Inc.
• Kawasaki Motors Corp.
• Polaris Inc.
• Yamaha Motor Co., Ltd.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Personal Watercraft Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Composites Market in the Personal Watercrafts (PWC) Industry: https://www.stratviewresearch.com/98/composites-market-in-the-personal-watercrafts.html
• Online Powersports Market: https://www.stratviewresearch.com/1389/online-powersports-market.html

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This release was published on openPR.