According to a recent report published by Allied Market Research, titled, “Water Scooter Market by Application, Type, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2018-2026,” the global water scooter market was valued at $1.3 billion in 2018, and is projected to reach $2.21 billion by 2026, registering a CAGR of 7.2% from 2019 to 2026.
North America dominates the market, followed by Europe, Asia-Pacific and LAMEA. U.S. dominated the global water scooter market share in 2018, whereas Mexico is expected to grow at a significant rate in the water scooter industry during the forecast period.
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Water scooter is a recreational watercraft, which mimics a motor scooter. It is used for various adventures on the sea coasts or are used by coast guards to ensure safety at beaches. Various forms of water scooters are available in the water scooter market such as Jet Ski and water jet bikes, which operate above the water surface as well as diver propulsion vehicles (DPVs), which are used for deep sea diving. Water scooters have a wider application in personal as well as commercial applications, which has led the water scooter manufacturers to focus on innovations. Increase in trend of travelling and rise in use of water scooters for rescue operations are fueling the growth of water scooter market across the globe.
Top companies are offering different water scooters and diver propulsion vehicles (DPVs) due to increase in inclination toward water sporting and scuba diving. In addition, the demand for better and efficient water scooters having long distance range propels the growth of market across the globe. For instance, the ASIWO TURBO underwater scooter introduced in China is lightweight, portable, and powerful sea scooter that revolutionizes the way people dive, snorkel and swim. Similar other developments carried out by other companies’ is expected to lead to the growth of water scooter market during the forecast period.
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Water scooters find their major application in personal, commercial, and military fields, which boosts the growth of the global water scooter market. Different types of water scooters are available in the market that can operate on the surface of water as well as under the water. These include Jet Ski and diver propulsion vehicles (DPVs). Moreover, the ASIWO TURBO underwater scooter introduced in China is lightweight, portable, and powerful sea scooter that revolutionizes the way people dive, snorkel, and swim. These types of developments and introduction of new products fuel the growth of the market thereby enhancing the water scooter outlook across the globe.
The global water scooter market growth is driven by factors such as ability of water scooters to increase the diving range and upsurge in their adoption for underwater exploration. However, rise in safety issues under water is expected to hamper the growth of the market. Conversely, wider application of water scooters in rescue operations and their ease of use are expected to create remunerative opportunities for expansion of water scooter market during the forecast period.
Key Finding of The Water Scooter Market:
- By application, the commercial segment generated the highest revenue in 2018.
- Depending on type, the above water segment was the major revenue contributor in 2018.
- Region wise, North America is anticipated to exhibit the highest CAGR during the forecast period.
- On the basis of country, the U.S. contributed the highest market revenue in 2018, and is expected to maintain the lead during the forecast period, followed by Mexico and Canada.
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The key players analyzed in this report are Bombardier Recreational Products (BRP), DiverTug, Dive Xtras Inc., Kawasaki Motors Corp., U.S.A. (subsidiary of Kawasaki Heavy Industries, Ltd.), Logic Dive Gear (subsidiary of Nellis Engineering Inc.), SUEX Srl, Sub-gravity, Torpedo Inc., TUSA (subsidiary of Tabata Co., Ltd.), and Yamaha Motor Co., Ltd.
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