Personal Watercraft Market to experience a healthy CAGR of 4.7%
February 18, 2020
Personal Watercraft Market Overview:
The global personal watercraft market offers a healthy growth opportunity and is likely to witness 4.7% CAGR during the forecast period of 2016 to 2021. The top brands in the global personal watercraft market are Sea Doo of the BRO Inc. and the FX Cruiser of the Yahama Motors. Recovery of the global economy and increasing disposable income are the major drivers of the personal watercrafts market.
Report Overview:
This report, from Stratview Research, studies the global personal watercraft market over the period 2010 to 2021. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Personal Watercraft Market Segment Insights:
Composites: The growth engine
Composites are a material of choice for fabricating the key structural components of personal watercrafts across the globe. All watercraft manufacturers are heavily relying on the composites technology for fabricating their major structural components, such as hull and deck. Plastics are also used to build hulls for the low cost and low performance watercrafts.
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Dominance of: Three-seater watercrafts
Personal watercrafts generally come in two varieties. One requires the riders to stand and another requires the riders to be in a seating position (up to three people). Personal watercraft with seating capacity of three people are widely preferred in the market. More than 80% of the personal watercraft sales in 2015 were from three-eater watercrafts.
Recreational and muscle watercrafts together accounted for more than 70% of the global personal watercraft demand in 2015 and are likely to remain the largest watercraft types during the forecast period.
A highly/moderately/fragment consolidated Market
The supply chain of this market comprises raw material suppliers, watercraft component manufacturers, personal watercraft manufacturers, and distributors. The global personal watercraft market is highly consolidated with the presence of less than half a dozen players. The key personal watercraft manufacturers are BRP Inc., Yahama Motors, and Kawasaki Motors. All the major watercraft manufacturers have set up PWC manufacturing plant in North America to tap the market potential in the US. New product development, vast product portfolio, in-house component manufacturing, and presence in the key markets are the key strategies adopted by the key players to gain competitive edge in the market.
Regional Hegemony of North America
North America is expected to remain the largest market for personal watercrafts in the next five years. The US is the growth engine of the North American and the global personal watercraft market. Asia-Pacific is relatively smaller market but is likely to witness the fastest growth during the forecast period, driven by the high demand of power sports.
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