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The water scooter market share is expected to increase by USD 920.82 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 9.04%.
This water scooter market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the water scooter market segmentation by type (abovewater and underwater), propulsion (fuel-operated and battery-operated), application (commercial, military, and personal), and geography (North America, Europe, APAC, the Middle East and Africa, and South America). The water scooter market report also offers information on several market vendors, including Apollo Sports USA Inc, BRP, Dive Xtras, Divertug, Kawasaki Heavy Industries Ltd., Logic Dive Gear, SubGravity, Torpedo Inc., TUSA, and Yamaha Motor Co. Ltd. among others.
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Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends and challenges for the global water scooter market. During the COVID-19 pandemic, the demand in the water scooter market has been impacted significantly, but a holistic analysis of drivers will help in estimating exact demands and refining marketing strategies to gain a competitive advantage.
Key Water Scooter Market Driver
The growing number of water sports facilities globally is a key factor driving the global water scooter market growth. The recreational water sports industry has been growing significantly over the last few years, providing a novel business opportunity to many coastal cities and regions that have water bodies such as rivers or lakes. Also, as the water sports sector is highly labor-intensive, it creates stable employment opportunities. Most countries have such water sports activities in small units that are fragmented and, hence, do not always have the necessary investments to grow and expand. Therefore, many initiatives are being undertaken to promote the growth and expansion of water sports facilities around the globe. Countries in APAC are significantly contributing to water sports activities. Such initiatives are driving the growth of the market by creating interest among enthusiasts. Thus, the growing number of water sports facilities in various countries around the world will drive the demand for water scooters used in sports activities, which, in turn, will propel the growth of the global water scooter market during the forecast period.
Key Water Scooter Market Trend
The increasing participation in water sporting activities and adventures will fuel the global water scooter market growth. Water sports, including surfing, stand-up paddle boarding, and jet skiing, have become an integral part of recreational activities in the past decade. Also, increasing interest in underwater activities, such as scuba diving, snorkeling, and other underwater exploration is boosting the demand for water scooters. Recently, there has been an increased emphasis on water sports by various government bodies, especially tourism boards, to increase the revenue generated from the tourism industry. Various promotional campaigns are being run by governments and tour operators in different countries, which are adding to the popularity and growth of the water sports industry. Changing lifestyles, with more people taking up some forms of recreational sporting activities, along with an increase in recreational expenditure, have helped in increasing the popularity of outdoor sports. Thus, the increasing participation in water sports and adventure activities will drive the demand for water scooters, which, in turn, will boost the growth of the global water scooter market during the forecast period.
Key Water Scooter Market Challenge
The high degree of risks involved with water scooters and water sports is the major challenge to the global water scooter market growth. One of the most pertinent factors that restrict the growth of the global water scooter market is the high degree of risks associated with water sports and adventures. Most people, especially tourists and people who participate in water sports for recreation, do not have sufficient knowledge about or the requisite training for these sports. Such participants may not know how to operate the watercraft efficiently and swim, leading to accidents. The most dangerous water sporting activities are parasailing and jet skiing. The high speed associated with water scooters increases the chances of injury. Most accidents associated with water scooters are primarily caused by high speed, reckless driving, lack of caution, and failure to follow the general guidelines set by government authorities like the General Administration of the Coast Guard and Border. Each year, hundreds of water sports-related fatalities and accidents are caused due to water scooters. Such high risks associated with riding water scooters and other water sports will reduce the demand for water scooters, which, in turn, will impede the growth of the global water scooter market during the forecast period.
This water scooter market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global water scooter market as a part of the global leisure products market within the global household durables market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the water scooter market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the water scooter market encompasses successful business strategies deployed by the key vendors. The water scooter market is concentrated, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position, and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.
Our report provides extensive information on the value chain analysis for the water scooter market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and the evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global household durables market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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30% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the water scooter market in North America. Market growth in this region will be slower than the growth of the market in regions.
The growing number of water sports facilities will facilitate the water scooter market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 negatively impacted the growth of the water scooter market in North America. The outbreak compelled governments across the region to impose stringent lockdowns, which led to the isolation of people in their homes to prevent the spread of the disease. This resulted in the cancellation of water sports events and other recreational activities in North America. Moreover, the halt in tourism activities negatively impacted the demand for water scooters in 2020. However, the initiation of large-scale vaccination drives and the revival of operations in the tourism industry in 2021 stabilized the growth of the market in the region. Moreover, government initiatives to promote water tourism, growth in the regional economy, and the adoption of advanced supply chain operations by vendors will help the regional scooter market recover and grow during the forecast period.
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The water scooter market share growth in the abovewater segment will be significant during the forecast period. By type, the abovewater segment is expected to be the largest segment of the global water scooter market during the forecast period. Jet bikes and skis are some types of water scooters that are used above the water's surface. Jet skis are compact, lightweight watercraft that can be used for fun activities, such as riding waves or floating along rivers or oceans. They have a single engine, a single seat, and an open cockpit designed for the rider's comfort. Such water scooters are used for transportation or adventure activities along seacoasts. They are also utilized by government agencies such as the Coast Guard to patrol and maintain security along the coast. Jet skis are used in high-performance activities to ensure the speed and stability of a boat.
This report provides an accurate prediction of the contribution of all the segments to the growth of the water scooter market size and actionable market insights on the post-COVID-19 impact on each segment.
Water Scooter Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.04% |
Market growth 2022-2026 |
$920.82 million |
Market structure |
Concentrated |
YoY growth (%) |
8.86 |
Regional analysis |
North America, Europe, APAC, the Middle East and Africa, and South America |
Performing market contribution |
North America at 30% |
Key consumer countries |
US, Canada, China, France, and UK |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Apollo Sports USA Inc, BRP, Dive Xtras, Divertug, Kawasaki Heavy Industries Ltd., Logic Dive Gear, SubGravity, Torpedo Inc., TUSA, and Yamaha Motor Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Market Segmentation by Propulsion
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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