Global Personal Watercraft Market: Overview
The global personal watercraft market is expected to witness a moderate demand attributed to increasing participation in watersport activities. Manufacturers are increasingly adopting nanotechnology to incorporate advanced technological features. In addition, the manufacturing companies are increasingly opting for plastic as an important ingredient in order to offer low-cost watercrafts. As participation in the water sport activities has led to increasing accident and fatality rates, manufacturers are mainly concentrating on offering personal watercrafts equipped with safe features.
The report offers in-depth insight on the important aspects of global personal watercraft market and further provides information related to growth factors, competitive landscape, important segments and factors fuelling the market growth.
Global Personal Watercraft Market: Dynamics
Growth of the global personal watercraft market is mainly bound to various macro-economic and micro-economic factors. The report reveals that the global personal watercraft market is mainly driven by increasing participation in the water sport activities. As participation in the water sport activities benefit the cardiovascular health and strengthens muscles, demand for the personal watercrafts will continue to remain high. With increasing rate of fatalities and accidents in water sports, manufacturers are mainly focusing on developing personal watercrafts that are equipped with safety features such as multi-faceted features and sound signaling devices. Moreover, the manufacturers are also adopting enhance technological features such as the nanocomposite technology that enable the manufacturers to create light-weight hull, liner and deck. Further, adoption of nanotechnology enables the manufacturers to control the flow of materials and conditions during the molding process.
As need for safety and security arises among the people participating in water sports, demand for the personal watercrafts is expected to remain high among the police organizations such as water or marine police. Increasing demand for personal watercrafts among the coast guards is further expected to impact growth of the global personal watercraft market. Manufacturers are further incorporating advanced technological features such as GPS and sensors in order to gain a competitive edge over the other market players.
Global Personal Watercraft Market: Segmentation
In the next section, the global personal watercraft market is segmented as product type, engine displacement and sales channel. On the basis of product type, the global market is segmented into stand up, one seater, two seater and three seater. Based on engine displacement, the global market is segmented as Below 800 CC, 800-1000 CC, 1000-1500 CC and Above 1500 CC. By sales channel, the global market is segmented as independent dealers, brand authorized dealers, brand authorized dealers and third party e-commerce. On the basis of region, the global market is segmented as North America, Latin America, Europe, Japan, APEJ and MEA.
Global Personal Watercraft Market: Competition
Key players in the global personal watercraft market are BRP Inc., Honda Motors. Co., Ltd., Kawasaki Motors Corp and Yahama Motors Co., Ltd.