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Research Reports

The Personal Watercraft Market To Fathom The Depth Of Innovation

According to the latest report compiled by Persistence Market Research (PMR), the global personal watercraft market is expected to witness moderate growth. The market is estimated to register 4.4% CAGR during the forecast period 2017-2026. It is also estimated to bring in US$ 143,772.0 million revenue by the end of 2026. Manufacturers of personal watercraft are increasingly focusing on composites technology for fabricating major components including deck and hull. Manufacturers are also using plastic to develop hulls for low-cost watercrafts. Big companies are looking for expanding geographically to add value and convert their on-going struggling operations into profitable ventures. Whereas, small companies are operating at the local level, providing service to the small segment of the population. Stringent regulations on emissions are resulting in the manufacturers focusing on building technologically advanced watercrafts, resulting in the less pollution. Manufacturers are also moving towards building autonomous watercrafts by including sensors, GPS and some advanced features.

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Increased Focus on Development of Multi-Passenger Personal Watercrafts

Personal watercraft manufacturers are focusing on developing personal watercraft that are compatible for more than one rider. This will lead to the development of multi-faceted watercraft. Meanwhile, the market for a solo rider is very small, hence, the focus is increasing on the development of multi-passenger personal watercrafts.

Along with the emission control, and increase in sports and leisure activities, manufacturers are providing four-stroke engine instead of a two-stroke engine in the personal watercrafts. Development of cleaner and quieter personal watercraft is also gaining traction. Advanced technologies are being integrated into personal watercrafts in order to comply with emission and speed regulations.

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Global Personal Watercraft Market: Segmental Insights

Global Personal Watercraft Market: Competitive Assessment

Some of the leading market players in the global personal watercraft market are BRP Inc., Yahama Motors Co., Ltd., Kawasaki Motors Corp., and Honda Motors. Co., Ltd. The key market players are evaluated on the basis of parameters such as financial overview, company overview, strategies, product portfolio, and new developments.

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