Advancements in the Asia-Pacific Personal Watercraft Market: Industry Trends, Key Drivers, Segmentation, and Projections by 2030
Asia-Pacific Personal Watercraft Market is the title of a new report from Data Bridge Market Research. Key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive environment are all dissected in detail in the research. To get an idea about the detailed market insights and keep market place clearly in focus, such a wide-ranging market research report has to be there in the picture. The Asia-Pacific Personal Watercraft market analysis report makes available statistics on the current state of the industry and hence works as a valuable source of guidance and direction for companies and investors interested in this Asia-Pacific Personal Watercraft industry. Each of the topics of the report is researched and analyzed in detail for formulating a comprehensive Asia-Pacific Personal Watercraft market research report. The Asia-Pacific Personal Watercraft report has been worked upon with the best-practice models, comprehensive market analysis, and research methodologies so that clients attain perfect market segmentation and insights.
According to the analysis conducted by Data Bridge Market Research, it is projected that the Asia-Pacific personal watercraft market will attain a value of USD 742,479.60 thousand by the year 2030. This growth is expected to occur at a steady Compound Annual Growth Rate (CAGR) of 5.4% over the forecast period. Furthermore, the report on the Asia-Pacific personal watercraft market extensively delves into pricing analysis, patent examination, and a thorough exploration of technological advancements.
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Key Players Mentioned in the Asia-Pacific Personal Watercraft market Research Report:
- BRP
- Yamaha Motor Co., Ltd.
- Kawasaki Heavy Industries, Ltd.
- NARKE
- Gibbs Sports Amphibians, Inc.
- BELASSI GmbH
- X Scream Inc
- Mackinnon Marine Technologies
- VQ yachts
- Krash Industries
- Nikola Corporation
- Strand Craft Design LLC.
- E-DOLPHIN
- Jiujiang Hison Motor Boat Manufacturing Co., Ltd
- Pro Watercraft
- Short Block Technologies, Inc.
- TAIGA MOTORS INC.
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Asia-Pacific Personal Watercraft Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
Rapid growth in surface water sports championships and events
People across the globe have gained importance for such sports, which has further resulted in organizing many local and regional championships and events. Personal watercraft events and championships have been conducted every month in one or the other region or country. This has been clear that there is a rise in such events and sports activities, which has helped to drive the sales of the PWC across the globe.
Increase in the number of adventure sports participation
Sports involve multiple motivations such as goal achievement, risk-taking, social motivation, escape from boredom, pushing personal boundaries, overcoming fear, and connection with the natural environment. Moreover, adventure sports experience the near-death experience, which helps accelerate the adrenaline and provides health benefits. This has helped to motivate people across the globe to adopt adventure sports. People across the globe are willing to adopt adventure sports due to various health benefits. This will help to increase interest in water sports activities. In accordance, this will help to drive the market.
Opportunity
Increase in recognition of water sports in international sports
People across the globe and most countries are participating in international championships. This has created a demand for such adventurous water sports. The rise in demand for such sports will boost the sales of sports equipment and gear. Thus, an increase in recognition of water sports in international sports will attract people to adopt such sports and thus provide a great opportunity for market growth.
Restraint/Challenge
High costs associated with personal watercrafts
The personal watercraft costs are very high in terms of owning the jet skis. Moreover, it includes various costs such as maintenance, fuel, and many others. These factors will add up the expenses, which are expected to restrain the personal watercraft market.
Asia-Pacific Personal Watercraft market Regional Analysis:
North America: (United States, Canada, Europe, Germany, France, U.K., Italy, Russia)
Asia-Pacific: (China, Japan, South Korea, Australia, Taiwan, Indonesia, Thailand, Malaysia)
Latin America: (Mexico, Brazil, Argentina, Colombia)
Middle East & Africa: (Turkey, Saudi Arabia, UAE)
Based on the Asia-Pacific Personal Watercraft Industry Market Segmentations:
TYPE
- SIT-DOWN MODEL
- STAND-UP MODEL
On the basis of type, the Asia-Pacific personal watercraft market is segmented into sit-down model and stand-up model.
COMPONENTS
- ENGINE
- DRIVE SHIFT
- INTAKE GRATE
- IMPELLER
- STEERING NOZZLE
- STEERING CONTROL
- SPEEDOMETER
- SAFETY SWITCH
- OTHERS
On the basis of components, the Asia-Pacific personal watercraft market is segmented into engine, drive shift, intake grate, impeller, steering nozzle, steering control, speedometer, safety switch and others.
PROPULSION TYPE
- IC ENGINES
- ELECTRIC
On the basis of propulsion type, the Asia-Pacific personal watercraft market is segmented into IC engines and electric.
HULL TYPE
- PLASTIC
- COMPOSITE
On the basis of hull type, the Asia-Pacific personal watercraft market is segmented into plastic and composite.
FUNCTIONALITY
- ACCESSORY PACKAGE
- AUTO TRIM
- CONNEXT SCREEN
- CUSTOM-TUNED ELECTRIC TRIM
- FOOT CHOCKS
- OPTIONAL AUDIO SPEAKERS
- RIDE
- OTHERS
On the basis of functionality, the Asia-Pacific personal watercraft market is segmented into accessory package, auto trim, connext screen, custom-tuned electric TRIM, foot chocks, optional audio speakers, ride and others.
SERIES
- REC LITE
- RECREATION
- FREESTYLE
- PERFORMANCE
- LUXURY
On the basis of the series, the Asia-Pacific personal watercraft market is segmented into REC lite, recreation, freestyle, performance and luxury.
SEAT MODEL
- DOUBLE
- SINGLE
- TRIPLE
- OTHERS
On the basis of the seat model, the Asia-Pacific personal watercraft market is segmented into double, single, triple and others.
DISTRIBUTION CHANNEL
- DIRECT CHANNEL
- INDIRECT CHANNEL
On the basis of distribution channel, the Asia-Pacific personal watercraft market is segmented into direct channel and indirect channel.
END-USER
- RENTAL
- INDIVIDUAL
- GOVERNMENT
On the basis of end-user, the Asia-Pacific personal watercraft market is segmented into rental, individual and government.
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Recent Developments
- In October 2021, BRP announced that the company had been recognized as Good Design Japan for design and innovations related to Sea-Doo. This recognition has ensured trust in the products and attracted new customers to accelerate revenue growth for the company.
- In November 2018, Kawasaki Heavy Industries, Ltd. announced an investment of USD 3 million in Motorcycle Mechanics Institute (MMI) education. This will include the development of personal watercraft models and help to support the training programs, which has further helped to accelerate the sales of personal watercraft.
Table of Contents
- Part 01: Executive Summary
- Part 02: Scope of the Asia-Pacific Personal Watercraft Market Report
- Part 03: Asia-Pacific Personal Watercraft Market Landscape
- Part 04: Asia-Pacific Personal Watercraft Market Sizing
- Part 05: Asia-Pacific Personal Watercraft Market Segmentation By Product
- Part 06: Five Forces Analysis
- Part 07: Customer Landscape
- Part 08: Geographic Landscape
- Part 09: Decision Framework
- Part 10: Drivers and Challenges
- Part 11: Market Trends
- Part 12: Vendor Landscape
- Part 13: Vendor Analysis
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