The market for personal watercraft is projected to grow between 2022 and 2032 at a moderate CAGR of 6%.
Due to strict emission laws, personal watercraft producers are concentrating on creating technologically superior, less polluting personal watercraft.
have historically been powered by two-stroke engines, but with advancements in technology, modern four-stroke engines are now standard equipment on personal watercraft. These PWCs are frequently utilized for recreational and sporting purposes.
A rise in leisure spending and rising demand for personal watercraft for use in sports are also expected to boost the personal watercraft market throughout the evaluation period. In the market, multi-passenger personal watercraft are popular. As a result, personal watercraft producers continue to produce more three-person models since they have centered their designs on the client base of today, which is families.
The market for personal watercraft is expected to expand over the assessment period due to their rising demand. The personal watercraft market’s expansion is hampered by strict safety and emission standards. Manufacturers are investing in integrating new technologies into their vehicles as a result of several speed and pollution laws.
As a result, the price of personal watercraft will go up initially, which will hurt sales. Personal watercraft cannot be used for passenger or cargo transportation, except for leisure and sporting purposes. This can further impede the market’s expansion during the assessment period.
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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