The Personal Watercraft Market size was estimated at USD 2.81 billion in 2023 and is projected to reach USD 3.98 billion in 2030 at a CAGR of 5.12% during the forecast period 2023-2030.
A Personal Watercraft (PWC) is a boat that is designed to be operated by a person sitting, standing, or kneeling on the boat rather than the more traditional position of sitting or standing inside the boat. It has an inboard motor that powers a water jet pump as its primary source of motive power. Two-cycle inboard gasoline engines power a jet water pump to propel PWCs.
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The desire for water sports and leisure activities has led to a considerable increase in the popularity of personal watercraft. Personal watercraft are also more widely available and simpler to operate, which has increased demand for them. The players are providing highly dependable and attractively made devices with user-friendly controls and intuitive handling to entice customers toward increasing adoption.
Key Findings:
Based on Product Type, the market is segmented into One seat, Two seat, Three seat, Standing. One seat personal watercraft dominated the market in this segment. This can be attributed to their exceptional versatility, thrill-seeking nature, and suitability for individual water adventures. One-seat models offer individuals to explore the water at their own pace.
Based on Engine Displacement, the market is segmented into Below 800 CC, 800-1000 CC, 1000-1500 CC, Above 1500 CC. The below 800 CC personal watercraft dominated the market in this segment. This is due to the increasing popularity of personal watercraft for recreational purposes, such as crafting and water sports.
Based on End-Use, the market is segmented into Sports, Recreational, Luxury. Recreational segment dominated the market in this segment. This can be attributed to the rise in professional jet skiing competitions and events all across the world.
Recent Developments
· In August 2023, Taiga Motors has officially launched the Orca Performance. This redesigned new model features the same specs as its predecessor, Orca Electric Watercraft, but at a more consumer-friendly price.
· In June 2023, Bosch announced that it is currently developing new drive for X Shore 1 electric boat. Bosch already supplies the 125kW motor in the X Shore 1, which was launched in February as a price attractive option for people wanting to get into electric boats. The drive train for the ‘1’ also incorporates the inverter and gearbox developed and manufactured by Bosch Rexroth.
Competitive Landscape
· AquaXtreme
· Arctic cat Inc.
· BRP Inc.
· Castoldi S.r.L.
· Cayago AG
· Gibbs Sports Amphibians Inc.
· Honda Motors. Co., Ltd. And more.
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North America to Dominate the Market
- North America is estimated to account for the largest market share during the forecast period due to presence of large number of water bodies, coastal regions, and a strong water sports culture.
- Moreover, rising disposable income and changing consumer preferences towards leisure activities is expected to drive the growth of the market further during the forecast period.
The Personal Watercraft Market Segmentation:
Based on Product Type
· One seat
· Two seat
Based on End-Use
· Sports
· Recreational
· Luxury
Based on Engine Displacement
· Below 800 CC
· 800-1000 CC
Based on Sales Channel
· Hypermarkets/Supermarkets
· Independent Dealers
· Brand Authorized Dealers
Based on region:
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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Frequently Asked Questions
· What are the years considered to study Personal Watercraft Market?
· What is the compound annual growth rate (CAGR) of the Personal Watercraft Market?
· Which region holds the largest market share in Personal Watercraft Market?
· Which region is the fastest growing in Personal Watercraft Market?
· Who are the major players in Personal Watercraft Market?
In addition to the market data for the Personal Watercraft Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
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