growing number of water sporting facilities globally is driving the Water Scooter Market
Technavio analyzes that the Water Scooter Market is expected to grow at a CAGR of 11.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1241.7 million.There are various factors that contribute to the growth of the market. The global water scooter market is experiencing significant growth due to the increasing number of water sporting facilities worldwide. This trend is driven by the rising popularity of water sports and the desire for thrilling experiences. Water scooters, also known as water sleds or skis, offer a fun and exciting way to explore bodies of water, making them an attractive option for both tourists and locals. The expansion of water parks, marinas, and recreational areas further fuels the demand for water scooters. This growth is expected to continue as more people seek new and adventurous activities to enjoy in the great outdoors.
The water scooter market encompasses various segments, with the abovewater segment projected to dominate during the forecast period. This segment includes jet bikes and skis, which are utilized for recreational activities and transportation on water surfaces. Jet skis, in particular, are compact and lightweight watercraft, equipped with a single engine, single seat, and an open cockpit design for optimal rider comfort. These water scooters are popular for adventure sports, such as riding waves or exploring rivers and oceans. Additionally, they are employed by the tourism industry and coast guards for transportation and security purposes along seacoasts. Jet skis offer a thrilling experience while ensuring safety measures are adhered to, making them an essential addition to both personal and professional watercraft fleets.
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Water Scooter Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The water scooter market encompasses fuel-powered and battery-operated deep propulsion vehicles, popularly known as water jet bikes, for adventure activities on the sea and ocean coasts. These lightweight, underwater exploration tools cater to adventurous instincts, offering wider application in deep-sea diving, tourism industry, and rescue operations. Millennials and civilians alike seek thrilling water sports experiences, while safety concerns and procedures remain crucial. Coast guards and underwater activities such as Scuba diving also benefit from diver propulsion vehicles. Business opportunities abound in this market, but safety issues must be addressed. (GLOBE NEWSWIRE)
The water scooter market falls under the category of leisure products within the broader household durables market. This sector encompasses various consumer-focused product segments, such as sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other games. According to Technavio, the global household durables market size is determined by the consolidated revenue generated by manufacturers of household durables, which include consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. The expansion of the global leisure products market will be fueled by several key factors, including the surge in health and fitness club memberships. This trend has gained significant traction over the past decade, with the number of health and fitness clubs continuing to expand due to the burgeoning opportunities within this industry. The water scooter market, specifically, benefits from this trend as adventure activities, such as water jet biking, offer a unique and engaging fitness experience.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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