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Personal Watercraft/Jet-ski Market Trends

Report ID: GMI6189
Published Date: Jun 2024
Report Format: PDF

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Personal Watercraft/Jet-ski Market Trends

The personal watercraft industry is experiencing dynamic shifts owing to the customization and personalization of watercrafts. Buyers can modify their jet skis by changing the engine, color, accessories, and add or remove any other components, as per their choice. With the growing use of watercrafts for professional and sports purposes, the demand for customized watercrafts is expected to observe a surge.

The trend of rental and sharing watercrafts is expected to grow as it provides users with the flexibility of using watercrafts when needed, without owning them. This provides them with an affordable option. With the growing tourism and water sports culture, rented or shared watercraft services will see high demand.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of personal watercraft/jet-ski reached USD 1.9 billion in 2023 and is set to witness 5% CAGR between 2024 and 2032, driven by growing government plans for the tourism industry and surging electrification across powersports.

The gasoline segment in the personal watercraft/jet-ski industry is expected to reach USD 1.8 billion by 2032, due to higher power, ease of maintenance, and cost efficiency for enhancing user experience and customization options.

North America market held over 62% revenue share in 2023, owing to growing investments in jet ski activities in costal and lakeside areas and the rising demand among millennials and Gen Zs.

BRP, Inc., Gibbs Sports Amphibians Inc., Honda Motor Co., Ltd., Kawasaki Corporation, Kymco, Mar Sea, Polaris, Inc., Redline Performance Products, and Yamaha Motor Co., Ltd.