Personal Watercraft Market size is forecast to top US$ 3.6 Bn in 2027 and exhibiting a 6.0% CAGR between 2022 and 2032

June 23, 2022

Personal Watercraft Market

personal watercrafts are now powered with state-of-the-art four stroke engines. personal watercraft boats are extensively used for sports and leisure activities

NEW YORK, NEW YORK, UNITED STATES OF AMERICA, June 23, 2022 /EINPresswire.com/ -- The personal watercraft market size is anticipated to grow at a moderate CAGR of 6% during 2022-2032.

With stringent emission regulations, the personal watercraft manufacturers are focusing on developing technologically advanced personal watercraft, which cause less pollution.

Have been equip pith two stroke engines, but with changing technology, the personal watercrafts are now poweed wSince the personal watercrafts were invented, these hared with state-of-the-art four stroke engines. Such personal watercraft boats are extensively used for sports and leisure activities.

Moreover, the personal watercraft market is anticipated to further augment over the assessment period owing to increase in leisure spending and increasing demand of personal watercraft for utilization in sports. Multi-passenger personal watercraft are trending in the market. Due to this, personal watercraft manufacturers have focused their designs on today’s consumer base, i.e. families, thus continuing to manufacture more of three person models.

Their increasing demand will further drive the anticipated growth of the personal watercraft market over the assessment period. Stringent emission norms and safety regulations derail the growth of the personal watercraft market. Owing to many speed and emission regulations, the manufacturers are investing in implementing new technologies in their products.

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This will increase the initial cost of the personal watercraft, which would have a negative impact on the sales. Moreover, apart from recreational and sports applications, personal watercraft cannot be used for transport of goods and passengers. This could further restrain the growth of the market over the assessment period.

What is the Regional Outlook of the Personal Watercraft Market?

“Personal watercraft (PWC) definitions vary by state, although they are commonly defined as a vessel with an inboard motor driving a water jet pump as its principal source of propulsion.”

North America is anticipated to hold a significant market share in the global personal watercraft market, owing to the presence of many original equipment manufacturers and anticipated increase in demand for personal watercraft in the said region. The European personal watercraft market is driven by increasing investment in sports and recreation.

Moreover, growing tourism in developing economies of the Asia-Pacific region, such as China and India, will create opportunities for the OEM’s to boost up their sales in the region. This trend is anticipated to remain the same in the MEA region, due to which the region will witness a steady growth in the sales of personal watercraft over the assessment period.

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Key Segments

By Type

• Sports
• Recreational
• Performance
• Luxury

By Seat Capacity

• One seat
• Two seat
• Three seat
• Standing

By Hull Type

• Composites
• Plastic

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific
• Japan
• Middle East and Africa

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Key Players:

• BRP Inc.
• Yamaha Motors Co., Ltd.
• Kawasaki Motors Corp.
• Honda Motors. Co., Ltd.
• Polaris Industries
• Jiujiang Poseidon Motorboat Manufacturing Co., Ltd.
• Lampuga
• Arctic cat Inc.
• Meyer Bootswerft
• SLVH s.r.o.
• Hubei Sanjiang Boats Science & Technology Co., Ltd

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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