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Personal Watercraft Market to Ascend to US$ 4.91 Billion at a CAGR of 6.1% by 2034, States Fact.MR

Personal Watercraft Sales Rising on Back of Increasing Participation in Water Sports and Amusement Activities

Rockville , March 05, 2024 (GLOBE NEWSWIRE) — As per Fact.MR, a provider of market research and competitive intelligence, the the global Personal Watercraft Market has been valued at US$ 2.72 billion for 2024 and is projected to expand at a CAGR of 6.1% from 2024 to 2034. In recent years, there has been a noticeable uptick in the demand for personal watercraft, reflecting a growing fascination with leisure activities among individuals.

This can be attributed to the allure of fun-filled pastimes and the desire for relaxation. As people seek enjoyable ways to unwind, personal watercraft offer an enticing option to escape the hustle and bustle of daily life.

For More Insights into the Market, Request a Sample of this Report:

Key Segments of Personal Watercraft Industry Research Report

By Product Type By End User By Engine Displacement By Region
  • One Seat
  • Two Seat
  • Three Seat
  • Standing
  • Sports
  • Recreational
  • Luxury
  • Below 800 CC
  • 800 to 1,000 CC
  • 1,000 to 1,500 CC
  • Above 1,500 CC
  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

Rise in disposable income has empowered individuals to indulge in such recreational pursuits, further driving the sales of personal watercraft. With more financial flexibility, people are increasingly willing to invest in experiences that bring joy and excitement. As a result, manufacturers and retailers are witnessing a boom in the demand for personal watercraft, catering to the evolving preferences of leisure enthusiasts. As the trend continues, the future looks promising for those seeking aquatic adventures and moments of leisurely bliss.

One of the key factors contributing to the popularity of personal watercraft is their versatility. These watercraft come in various models, from jet skis to motorized boats, offering options for different preferences and skill levels. Whether it is speeding across open waters or leisurely cruising along the coastline, personal watercraft provide an exhilarating experience for adventurers of all kinds. Advancements in technology have made personal watercraft more accessible and user-friendly, attracting a wider audience eager to partake in aquatic adventures.

Key Takeaways from Market Study

  • The global personal watercraft market is projected to expand at a CAGR of 6.1% through 2034.
  • Sales of personal watercraft are estimated at US$ 2.72 billion in 2024.
  • The market is forecasted to reach US$ 4.91 billion by 2034-end.
  • The North American market is forecasted to expand at a CAGR of 7% through 2034.
  • Recreational watercraft are estimated to account for 48.9% market share in 2024.
  • East Asia is projected to hold 23.1% of the global market share by 2034.

“Water scooters offer versatility and performance for various purposes including tourism, search and rescue, and coastal patrolling. The rising demand for personal watercraft is driven by their mobility and efficiency,” says a Fact.MR analyst.

Market Competition

The personal watercraft market is characterized by fierce competition. Yamaha Motors Co., Ltd, Kawasaki Motors Corp., and Honda Motors Co. Ltd. stand out as key players. These industry giants are renowned for their innovation and quality craftsmanship, continually striving to push the boundaries of technological advancement in watercraft design. However, they are not alone in their quest for market dominance.

Several other companies are vying for a share of the pie, each seeking to distinguish themselves by introducing new features and options that cater to the evolving needs of consumers. From eco-friendly engines to cutting-edge safety features, the competition is fierce as companies race to capture the attention of discerning buyers. With such a dynamic landscape, consumers can expect a steady stream of innovations that promise to enhance their watercraft experience, making it more thrilling, efficient, and enjoyable than ever before.

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Report Attribute Details
Value Projection (2034) USD 4.91 Billion
Growth Rate (2024-2034) 6.1% CAGR
No. of pages 170 Pages
No. of Tables 80 Tables
No. of Figures 219 Figures

Checkout More Related Studies Published by Fact.MR Research:

Personal Chef Services Market: The global personal chef services market is expected to be worth US$ 13 billion in 2023 and expand at a CAGR of 4.2% to reach a market valuation of US$ 19.65 billion by the end of 2033.

Personal Exercise Mats Market: The global personal exercise mats market is forecasted to exhibit 7.1% CAGR and reach US$ 5.81 billion by the end of 2033.

Mass Beauty & Personal Care Products Market: The global mass beauty & personal care products market is valued at US$ 502.39 billion in 2023. Worldwide demand for mass beauty and personal care products is projected to rise at a CAGR of 6%

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global personal watercraft market for 2018 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on product type (one seat, two seat, three seat, standing), end use (sports, recreational, luxury), engine displacement (below 800 CC, 800 to 1,000 CC, 1,000 to 1,500 CC, above 1,500 CC), and sales channel (hypermarkets/supermarkets, independent dealers, brand-authorized dealers, brand-owned e-commerce, third-party e-commerce, others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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Originally published at https://www.einpresswire.com/article/693448337/personal-watercraft-market-to-ascend-to-us-4-91-billion-at-a-cagr-of-6-1-by-2034-states-fact-mr

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