The personal watercraft market size is expected to see strong growth in the next few years. It will grow to $3.44 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to expansion of rental services for personal watercraft, evolution of safety features in pwc, increasing focus on lightweight and compact pwc models, rise of electric and hybrid personal watercraft models, expansion of women-centric and family-friendly pwc models. Major trends in the forecast period include technological advancements in pwc design, technological innovations in hull materials and design, introduction of eco-friendly and sustainable watercraft, integration of smart and iot technologies in pwc, integration of ai for enhanced safety and navigation, development of pwc with augmented reality (ar) interfaces.
The increasing interest in outdoor recreational activities is expected to drive the growth of the personal watercraft market in the coming years. Outdoor recreational activities encompass leisure pursuits conducted outdoors, typically in natural settings. Personal watercraft can be utilized for a variety of outdoor activities, including jet skiing, watercraft touring, wakeboarding, waterskiing, tubing, and leisurely exploration of lakes or coastal areas, facilitating the transportation of cargo and up to two passengers. For example, in 2023, a report from the American Canoe Association, a sports organization based in the U.S., indicated that participation in outdoor recreation rose by 2.3% in 2022, reaching a record 168.1 million participants, which represents 55% of the U.S. population aged 6 and older. Therefore, the growing enthusiasm for outdoor recreational activities is fueling the expansion of the personal watercraft market.
The expanding tourism industry is also poised to contribute to the growth of the personal watercraft market. The tourism industry encompasses a broad economic sector involving various activities, businesses, and services related to travel and leisure. Personal watercraft play a crucial role in tourism by providing exciting water experiences, attracting adventure-seeking tourists, and diversifying recreational activities in coastal destinations. For instance, in December 2022, the Ministry of Business, Innovation, and Employment in New Zealand reported a 2.7% growth in tourism spending, reaching $26.5 billion compared to the previous year. Overseas visitor arrivals to New Zealand increased by 335.3%, reaching 229,370. Additionally, tourism directly contributed $10 billion to the country's GDP, representing 3% of the GDP and showing a growth of 1.3%. Thus, the growing tourism industry stands as a driving force behind the expansion of the personal watercraft market.
Technological advancement stands out as a prominent trend gaining traction in the personal watercraft market. Leading companies in the personal watercraft sector are actively engaged in the development of innovative products featuring advanced capabilities to maintain their competitive positions. For example, in July 2022, Taiga Motors, a Canada-based vehicle company, unveiled the Orca, hailed as the world's first electric personal watercraft (PWC) built on cutting-edge technology. This revolutionary PWC redefines the watercraft experience, offering attributes such as power efficiency, intelligent connectivity, silent operation, and no engine maintenance. Boasting a carbon fiber composite hull designed for dynamic handling, the Orca provides a leading power-to-weight ratio, indicating high power output relative to its weight. Moreover, the customizable color combinations further enhance its appeal.
Major players in the personal watercraft market are intensifying their focus on the introduction of electric watercraft as a strategic move to gain a competitive advantage. Electric watercraft encompass vessels, including boats, jet skis, or personal watercraft, propelled by electric propulsion systems employing electric motors and batteries. In January 2023, Brunswick Corporation, a US-based boat manufacturing company, launched a new line of electric boats named Veer. Specifically designed for novice boaters, these boats feature a robust polyethylene hull and are equipped with an electric propulsion option from Mercury, representing the 18th addition to the Brunswick Boat Group portfolio.
In February 2024, Amwins Group Inc., a company based in the United States, acquired BRP Group Inc. for $59 million. This acquisition is intended to enhance Amwins' portfolio by integrating BRP's expertise in the manufacture of personal watercraft (PWC). BRP Group Inc. is a US-based manufacturer specializing in personal watercraft.
Major companies operating in the personal watercraft market include Honda Motors. Co. Ltd., Yamaha Motors Co. Ltd., Polaris Inc., BRP Inc., MasterCraft Boat Holdings Inc., Arctic Cat Inc., Malibu Boats Inc., Sea-Doo, Tige Boats Inc., Sea Ray Boats, Zapata Racing, Lomac Nautica S.r.l., Krash Industries Jet Ski Group, Nautique Boat Company, Sealegs International Ltd., O'Brien Watersports, Four Winns Boats, Bayliner, BELASSI GmbH, Supra Boats, Rickter-RRP Performance Inc., Kawasaki Motors Corp., Jiujiang Poseidon Motorboat Manufacturing Co. Ltd., Lampuga GmbH, Meyer Bootswerft GmbH, SLVH s.r.o., Hubei Sanjiang Boats Science & Technology Co. Ltd.
North America was the largest region in the personal watercraft market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the personal watercraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the personal watercraft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
A personal watercraft is a water vessel designed to be operated by an individual while sitting, standing, or kneeling on the boat, in contrast to the traditional method of sitting or standing inside the vessel. Typically, it is equipped with an outboard motor or an inboard engine that powers a water jet pump, serving as its primary means of propulsion.
The primary types of personal watercraft include recreational watercraft, muscle watercraft, luxury watercraft, performance watercraft, and sports watercraft. Recreational watercraft encompasses boats of various forms, irrespective of the propulsion method, with a hull length ranging from 2.5 to 24 meters, intended for recreational and sporting purposes. These watercraft are available with seating capacities of one, two, three, and standing positions, featuring hulls made of composites and plastic. Engine displacement categories include below 800 cc, 800-1000 cc, 1000-1500 cc, and above 1500 cc.
The personal watercraft research report is one of a series of new reports that provides personal watercraft market statistics, including the personal watercraft industry's global market size, regional shares, competitors with personal watercraft market share, detailed personal watercraft market segments, market trends and opportunities, and any further data you may need to thrive in the personal watercraft industry. This personal watercraft market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The personal watercraft market consists of sales of fishing personal watercraft, touring personal watercraft, and rescue personal watercraft. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
Executive Summary
Personal Watercraft Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on personal watercraft market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Assess the impact of key macro factors such as conflict, pandemic and recovery, inflation and interest rate environment and the 2nd Trump presidency.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for personal watercraft? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The personal watercraft market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Watercraft Type: Recreational Watercraft; Muscle Watercraft; Luxury Watercraft; Performance Watercraft; Sports Watercraft2) By Seat Capacity Type: One Seat; Two Seat; Three Seat; Standing
3) By Hull Type: Composites; Plastic
4) By Engine Displacement: Below 800 CC (Cubic Capacity); 800-1000 CC (Cubic Capacity); 1000-1500 CC (Cubic Capacity); Above 1500 CC (Cubic Capacity)
Subsegments:
1) By Recreational Watercraft: Standard Jet Skis; Sit-Down Models; Stand-Up Models2) By Muscle Watercraft: High-Powered Jet Skis; Supercharged Models
3) By Luxury Watercraft: Premium Jet Skis; Customizable Models
4) By Performance Watercraft: Racing Models; High-Performance Cruisers
5) By Sports Watercraft: Wakeboarding Models; Fishing Models; Touring Models
Key Companies Mentioned: Honda Motors. Co. Ltd.; Yamaha Motors Co. Ltd.; Polaris Inc.; BRP Inc.; MasterCraft Boat Holdings Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Honda Motors. Co. Ltd.
- Yamaha Motors Co. Ltd.
- Polaris Inc.
- BRP Inc.
- MasterCraft Boat Holdings Inc.
- Arctic Cat Inc.
- Malibu Boats Inc.
- Sea-Doo
- Tige Boats Inc.
- Sea Ray Boats
- Zapata Racing
- Lomac Nautica S.r.l.
- Krash Industries Jet Ski Group
- Nautique Boat Company
- Sealegs International Ltd.
- O'Brien Watersports
- Four Winns Boats
- Bayliner
- BELASSI GmbH
- Supra Boats
- Rickter-RRP Performance Inc.
- Kawasaki Motors Corp.
- Jiujiang Poseidon Motorboat Manufacturing Co. Ltd.
- Lampuga GmbH
- Meyer Bootswerft GmbH
- SLVH s.r.o.
- Hubei Sanjiang Boats Science & Technology Co. Ltd.
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 200 |
Published | February 2025 |
Forecast Period | 2025 - 2029 |
Estimated Market Value ( USD | $ 2.61 Billion |
Forecasted Market Value ( USD | $ 3.44 Billion |
Compound Annual Growth Rate | 7.1% |
Regions Covered | Global |
No. of Companies Mentioned | 27 |