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Personal Watercraft/Jet-ski Market Size

Report ID: GMI6189
Published Date: Jul 2023
Report Format: PDF

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Personal Watercraft/Jet-ski Market Size

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.

Personal Watercraft Market Report Attributes
Report Attribute	Details
Base Year:	2022
Personal Watercraft Market Size in 2022:	USD 1.48 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5.6%
2032 Value Projection:	USD 2.55 Billion
Historical Data for:	2018 to 2022
No. of Pages:	200
Tables, Charts & Figures:	329
Segments covered:	Propulsion Type, Application
Growth Drivers:	Rising R&D and product innovation investments Surging electrification across the powersports industry Growing government plans for the tourism industry Penetration of off-road sports events
Pitfalls & Challenges:	Growing environmental concerns Intense market competition

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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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of personal watercraft/jet-ski was reached USD 1489.9 million in 2022 and is projected to expand at a CAGR of over 5% between 2023 and 2032, owing to the availability of high-performance jet-skis with innovative features that attract sports enthusiasts.

The sports segment is generating high demand for jet-ski due to the rise of professional jet skiing competitions and events.

North America market accounted for 60% of revenue share in 2022, attributed to the presence of a large number of water bodies, coastal regions, and a strong water sports culture.

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.