Jet Ski was originally the brand name of a personal watercraft (PWC) produced by Japan Kawasaki Company, which now generally refers to any personal watercraft mainly used for recreation. According to the type, there are mainly three types of water motorcycles on the market: 701cc, 1493cc-1498cc, and 1812cc. In 2020, the market revenue of these types of products was US$241.75 million, US$487.04 million, and US$592.97 million.
From the perspective of use, jet skis often appear as a recreational facility or sports. At the same time, it is also recognized as a luxury and high-performance product. At present, the market for jet skis in the entertainment field is the largest, followed by the luxury market.
With the increased interest in soft adventure sports, the growing popularity of adventure sports such as jet skiing, and the growing awareness of the many fitness benefits of choosing a jet ski, jet skiing has gradually become an extreme sport favored by water lovers.
Now, with the gradual easing of the epidemic, countries are paying more attention to the health of the people and the health of the living environment. Sports activities will be paid more attention to, becoming an effective way to promote the masses to enjoy fun and keep fit. As people pay more attention to fitness, sports tourism, which is deeply integrated with tourism, has become a new economic growth point in various regions. Many hotels are actively promoting integration with sports, including jet ski programs. Hence, the jet ski market will continue to grow steadily in the long run.
Chinese Jet Skis Show Great Potential
North America is the largest revenue market for the jet ski industry, with a market share of 49.73% in 2015 and a market share of 48.63% in 2020, a decrease of 1.10%. In 2020, the market shares of Europe, Asia Pacific, South America, Middle East and Africa were 23.10%, 19.85%, 4.20% and 3.79% respectively.
Get the Complete Sample, Please Click:https://www.globalmarketmonitor.com/reports/879427-jet-skis-market-report.html
Jet ski is known as the third most popular sport after equestrian and golf. With the development of the jet ski league in recent years, it has become a fashionable sport among young people. Judging from the current demand, the demand for jet skis is divided into coastal cities, densely populated open waters and sporadic water sports. From the perspective of the regional market, the population of China coastal cities has grown rapidly in recent years, and the coastal provinces are rich in tourism resources. As jet ski market of China has just started, the potential consumer demand is huge. At present, the consumption of jet skis in China is concentrated in the provinces of Hong Kong, Shanghai, Guangdong, Fujian and Shandong.
Jet ski companies are mainly from Asia Pacific and North America, with high industry concentration. The top three companies are Yamaha Motor, Sea-Doo and Kawasaki Motors, with 2019 revenue market shares of 45.61%, 31.13% and 13.21%, respectively.
Jet Skis Are Developing Towards Diversification with Technological Progress
According to research data, the total sales of the global jet ski market in 2015 was US$ 1280.45 million, which will increase to US$ 1667.28 million by 2020. We predict that by 2025, the jet ski market can be worth $2235.89 million. From 2019 to 2025, the CAGR of jet skis is 5.98%.
Technological innovation is an important means for enterprises to maintain their bargaining advantages and resist industry competition. Only when technology research and development and product upgrades can continue to capture the changing trends of downstream industries and end-consumer needs and keep pace with market development, and the design and development capabilities of new products can meet customer needs, can the company continue to gain competitive advantages in the industry. Technological advancements have produced a slew of quieter and cleaner jet skis that benefit the industry.
Because jet skis easily disturb nearby residents, wildlife and other people on board. In recent years, many businesses have installed sound-absorbing foam between the hull and the engine, or installed auxiliary mufflers to dissipate sound by sending air into the engine through seven twisted wires instead of straight lines. In addition, manufacturers are increasingly focusing on offering jet skis equipped with enhancements and technologies to provide jet skis with more safety features, such as the use of enhancements such as nanocomposite technology to create hull materials that reduce the weight of the hull. Some businesses are also trying to combine GPS and sensor technology with jet skis to attract more customers.
For the past decade, jet skis have been powered by two-stroke engines, causing a lot of pollution, but with the gradual introduction of stricter emissions regulations, private boats are now powered by four-stroke engines, which will increase the demand for jet skis. Manufacturers are now launching multi-person jet skis with advanced features and functions in the market, which will further expand the jet ski market. Furthermore, the jet ski market is expected to expand further over the forecast period owing to rising recreational consumption and increasing demand for jet ski use in sports.
Jet skis are a new type of product, which is very convenient and has received widespread attention, posing a threat to the use of jet skis in tourist areas. As far as entertainment is concerned, amphibious motorcycles can be driven on land, while jet skis can only be used on water and cannot be used on land. When entering the water from land, you only need to turn on the water inlet mode button, at this time the propulsion system of the motorcycle switches to the water inlet mode, as long as you twist the accelerator, you can run fast, and the front wheel of the motorcycle will be lifted, the power experience is very powerful. If you need to return to land, just turn off the water mode, press the corresponding button, and the system will switch to land mode.
Get the Complete Sample, Please Click:https://www.globalmarketmonitor.com/reports/879427-jet-skis-market-report.html
We provide more professional and intelligent market reports to complement your business decisions.
Chinese
