Personal Watercraft/Jet-ski Market Size - By Propulsion Type (Gasoline, Diesel, Electric), By Application (Utility, Sports, Recreation, Military) & Global Forecast, 2023 – 2032

Personal Watercraft/Jet-ski Industry Analysis

Personal Watercraft/Jet-Ski Market size was valued at USD 1.48 billion in 2022 and is anticipated to grow at a CAGR of 5% between 2023 and 2032. Jet-ski manufacturers have been investing in R&D to improve product performance, safety, and product features. They are launching advanced technologies, such as efficient engines, intelligent braking & stability systems, enhanced hull designs, and user-friendly interfaces, to augment the overall jet-ski experience. The availability of high-performance jet-skis with innovative features attracts enthusiasts, driving market growth.
 

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Additionally, governments around the world are concentrating on developing the tourism sector in their countries and investing in water & amusement parks, which will create growth prospects for the jet-ski market. Jet skiing attracts tourists and travelers to regions with suitable water conditions and water-based activities. Popular tourist destinations with coastlines, lakes, or rivers offer jet ski rentals, guided tours, and watersport packages. The growing popularity of tourism and the increased interest in watersports are fueling the demand for jet skis.

Jet-skis have been associated with noise pollution, water pollution, and potential harm to marine ecosystems. Environmental concerns & regulations related to emissions, noise levels, and protected areas may impact the personal watercraft market. Compliance with environmental standards and proactive efforts to achieve sustainability are essential to alleviate potential pitfalls.
 

COVID-19 Impact

During the pandemic, global lockdowns and travel restrictions led to a significant decline in the demand for water sports as recreational activities were halted. However, as restrictions were removed, there was a surge in water-based recreation, particularly jet-skiing, as individuals sought outdoor activities while maintaining social distancing. Domestic tourism provided some opportunities for the market, while the rental segment faced challenges due to reduced tourist inflows. Post-pandemic, the jet-ski market is anticipated to witness increased consumer confidence in water-based recreational activities, thereby driving market growth.
 

Personal Watercraft/Jet-ski Market Trends

Manufacturers are investing in research & development to introduce advanced features and technologies in jet-skis. These include improved stability systems, advanced control interfaces, GPS navigation, intelligent braking systems, and enhanced safety features. These functionalities aim to develop the overall performance, safety, and user experience of jet-skis. Connectivity features, such as Bluetooth, smartphone integration, and touchscreen displays, are being incorporated into new jet-ski models. These features enable riders to access navigation systems, music streaming, and other connected services while on the water, enhancing convenience and entertainment options.
 

Personal Watercraft/Jet-ski Propulsion Type Segmentation

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The gasoline segment held over 60% of the personal watercraft/jet-ski market share in 2022. Gasoline engines provide high-performance capabilities, allowing enthusiasts and professional riders to experience exhilarating speeds and dynamic maneuvers on the water. This factor appeals to the water sports segment, which demands superior acceleration and top speeds for competitive purposes.
 

Moreover, gasoline-powered jet skis offer a longer range compared to their electric counterparts. This extended range enables riders to explore larger bodies of water, embark on longer trips, and engage in recreational activities without the need for frequent recharging or battery replacements. Limited range is a significant factor for those who prefer longer excursions or need to cover considerable distances.
 

Personal Watercraft/Jet-ski Application Segmentation

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The recreation segment accounted for 40% of the personal watercraft/jet-ski market share in 2022, owing to the rise of professional jet skiing competitions and events. These events attract a larger audience & participants from around the world, creating a platform for professional riders to showcase their skills and compete for recognition and prizes. The growing media coverage and sponsorship opportunities associated with professional jet skiing have further contributed to the popularity of the sport, fueling the demand for jet-skis in the sports segment.
 

Personal Watercraft/Jet-ski Regional Analysis

The North America personal watercraft/jet-ski market held a dominant share of over 60% in 2022, due to the presence of a large number of water bodies, coastal regions, and a strong water sports culture. The U.S., in particular, has a well-established jet-ski market, with high demand for both recreational and sports applications. The region has witnessed a steady market growth, fueled by factors such as disposable income levels, consumer preference for different leisure activities, and increased tourism.
 

Personal Watercraft/Jet-ski Industry Leaders

Major companies operating in the personal watercraft/jet-ski market are Kawasaki Motors Corp., USA, BRP, Polaris Industries, Yamaha Motor Corporation, Honda Motor Co., Ltd., AquaXtreme, Krash Industries, Gibbs Sports Amphibians Inc., Vortex Jet Boats, Kymco, Mar Sea, Redline Performance Products, Falkensteiner Boote, and Dart Jet Skis.
 

Personal Watercraft/Jet-ski Industry News

• In June 2023, Float On, an Austin-based boat rental company, became an official Taiga Service Provider (TSP), allowing Taiga to introduce sustainable water exploration to Texas.
   

The personal watercraft/jet-ski market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and shipments (Units) from 2018 to 2032, for the following segments:

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Market, By Propulsion Type

• Gasoline
• Electric
• Diesel

Market, By Application

• Utility
• Sports
• Recreation
• Military

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa