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Global Personal Watercraft Market to Grow at 4.4% CAGR to Reach US$ 143 Bn in Revenues

Press release Description

Albany, New York, March 6, 2018: A new informative study titled “Global Market Study on Personal Watercraft: North America to Lead the Global Market in Terms of Revenue during 2017-2026” has been submitted to the database of “Market Research Reports Search Engine (MRRSE)”. The study provides in-depth analysis post analyzing past trends of the global personal watercraft shaver market and shares forecasts for its readers from 2012 to 2026. The report projects the global personal watercraft market to grow at 4.4% CAGR and surpass US$ 143 Bn in revenues.

According to the report, the global personal watercraft market is driven by increasing emphasis on geographical expansion among big companies. On the other hand, smaller companies are focusing on boosting their local presence, which has further led to investments in personal watercrafts. The sluggishness in the market has forced companies to opt for cost-cutting measures. This has led to use of composites and plastic for developing hulls.

The report also projects a spike in demand for multi-passenger personal watercrafts as service providers look to stay profitable in a challenging market. The demand for solo watercrafts has been witnessing a decline, owing to the high cost, and multi-passenger watercrafts are ideally suited for groups of travelers on leisure or business.

The report also projects that demand for four-stroke personal watercrafts is likely to witness an increase during the assessment period on account of mounting concerns about environmental pollution. Personal watercraft manufacturers are aware of the growing regulations on maintaining low emissions and are making the necessary adjustments to comply with the regulations.

For detailed insight, the report has divided the global personal watercraft market into various segments. These segments are engine displacement, product type, sales channel and region. The engine displacement segment is further sub-segmented into below 800 cc, 800 – 1000 cc, 1000 – 1500 cc and above 1500 cc. The product type segment is divided into stand up, one seater, two seater and three seater. The sales channel segment is categorized into independent dealers, brand owned e-commerce, brand authorized dealers and third party e-commerce. Geographically, the global market is divided into major regions which are North America, Japan, Latin America, Europe, Asia Pacific Excluding Japan and Middle East & Africa.

North America is one of the largest markets for personal watercraft, followed by Asia Pacific excluding Japan (APEJ) and Europe. The demand for personal crafts in North America is likely to be on account of growing preference for outdoor leisure activities. Growing disposable income in APEJ is also creating growth opportunities for personal watercraft manufacturers.

The report also detailed the business and product strategy of some of the leading players in the market. The financial performance of the companies has been included and a detailed analysis has been offered to readers. Some of the major companies profiled in the report include BRP Inc., Kawasaki Motors Corp., Yamaha Motors Co., Ltd., and Honda Motors. Co., Ltd.

Browse Full Global Personal Watercraft Market Report with TOC :

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