Rockville , March 05, 2024 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the the global Personal Watercraft Market has been valued at US$ 2.72 billion for 2024 and is projected to expand at a CAGR of 6.1% from 2024 to 2034. In recent years, there has been a noticeable uptick in the demand for personal watercraft, reflecting a growing fascination with leisure activities among individuals.
This can be attributed to the allure of fun-filled pastimes and the desire for relaxation. As people seek enjoyable ways to unwind, personal watercraft offer an enticing option to escape the hustle and bustle of daily life.
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Key Segments of Personal Watercraft Industry Research Report
| By Product Type | By End User | By Engine Displacement | By Region |
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Rise in disposable income has empowered individuals to indulge in such recreational pursuits, further driving the sales of personal watercraft. With more financial flexibility, people are increasingly willing to invest in experiences that bring joy and excitement. As a result, manufacturers and retailers are witnessing a boom in the demand for personal watercraft, catering to the evolving preferences of leisure enthusiasts. As the trend continues, the future looks promising for those seeking aquatic adventures and moments of leisurely bliss.
One of the key factors contributing to the popularity of personal watercraft is their versatility. These watercraft come in various models, from jet skis to motorized boats, offering options for different preferences and skill levels. Whether it is speeding across open waters or leisurely cruising along the coastline, personal watercraft provide an exhilarating experience for adventurers of all kinds. Advancements in technology have made personal watercraft more accessible and user-friendly, attracting a wider audience eager to partake in aquatic adventures.
Key Takeaways from Market Study
- The global personal watercraft market is projected to expand at a CAGR of 6.1% through 2034.
- Sales of personal watercraft are estimated at US$ 2.72 billion in 2024.
- The market is forecasted to reach US$ 4.91 billion by 2034-end.
- The North American market is forecasted to expand at a CAGR of 7% through 2034.
- Recreational watercraft are estimated to account for 48.9% market share in 2024.
- East Asia is projected to hold 23.1% of the global market share by 2034.
“Water scooters offer versatility and performance for various purposes including tourism, search and rescue, and coastal patrolling. The rising demand for personal watercraft is driven by their mobility and efficiency,” says a Fact.MR analyst.
Market Competition
The personal watercraft market is characterized by fierce competition. Yamaha Motors Co., Ltd, Kawasaki Motors Corp., and Honda Motors Co. Ltd. stand out as key players. These industry giants are renowned for their innovation and quality craftsmanship, continually striving to push the boundaries of technological advancement in watercraft design. However, they are not alone in their quest for market dominance.
Several other companies are vying for a share of the pie, each seeking to distinguish themselves by introducing new features and options that cater to the evolving needs of consumers. From eco-friendly engines to cutting-edge safety features, the competition is fierce as companies race to capture the attention of discerning buyers. With such a dynamic landscape, consumers can expect a steady stream of innovations that promise to enhance their watercraft experience, making it more thrilling, efficient, and enjoyable than ever before.
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| Report Attribute | Details |
| Value Projection (2034) | USD 4.91 Billion |
| Growth Rate (2024-2034) | 6.1% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 219 Figures |
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global personal watercraft market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (one seat, two seat, three seat, standing), end use (sports, recreational, luxury), engine displacement (below 800 CC, 800 to 1,000 CC, 1,000 to 1,500 CC, above 1,500 CC), and sales channel (hypermarkets/supermarkets, independent dealers, brand-authorized dealers, brand-owned e-commerce, third-party e-commerce, others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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