Recent Research: Global Personal Watercraft Market Is Expected To Grow At A CAGR Of 4.4% By 2026
Verfasser: yogesh on Monday, 10 December 2018According to the latest report compiled by Persistence Market Research (PMR), the global personal watercraft market is expected to witness moderate growth. The market is estimated to register 4.4% CAGR during the forecast period 2017-2026. It is also estimated to bring in US$ 143,772.0 million revenue by the end of 2026.
Manufacturers of personal watercraft are increasingly focusing on composites technology for fabricating major components including deck and hull. Manufacturers are also using plastic to develop hulls for low-cost watercrafts. Big companies are looking for expanding geographically to add value and convert their on-going struggling operations into profitable ventures. Whereas, small companies are operating at the local level, providing service to the small segment of the population. Stringent regulations on emissions are resulting in the manufacturers focusing on building technologically advanced watercrafts, resulting in the less pollution. Manufacturers are also moving towards building autonomous watercrafts by including sensors, GPS and some advanced features.
Increased Focus on Development of Multi-Passenger Personal Watercrafts