Global Jet Skiing Equipment Market 2017-2021
About Jet Skiing Equipment
Jet skiing is a popular recreational activity as it is immensely enjoyable and participants require no special training before hitting the waves. As with most water-based sports, there is more to hitting the waves than simply leaping onto the machine. In jet skiing safety is of paramount importance, and therefore, the participants should consider using life jackets and other equipment before getting started. Jet ski is the activity of riding a shallow-draft and highly maneuverable, water-jet-propelled, aquatic craft. It is also known as personal watercraft and is one of the quickest and easiest ways to get that adrenaline buzz on water. Jet skiing can be done on both inland and coastal waters and either sitting or standing depending on the type of craft.
Technavio’s analysts forecast the global jet skiing equipment market to grow at a CAGR of 12.12% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global jet skiing equipment market for 2017-2021. To calculate the market size, the report analyses business dimensions with an eye on individual growth trends and contribution of upcoming market segments
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Jet Skiing Equipment Market 2017-2021
Technavio recognizes the following companies as the key players in the Global Jet Skiing Equipment Market: Dongguan Eyson Lifesaving Equipment, Jettribe, Kawasaki Motors, O’Brien, Sea-Doo, and Yamaha Motor.
Other Prominent Vendors in the market are: BELLASI, Billabong, BODY GLOVE, BomBoard, Cressi, Dive Rite, Jetpilot, Quadrofoil, and Rave Sports.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is advent of technological innovations. A rise in the launch of innovative water sports equipment including jet skiing equipment is expected to contribute to the growth of the market during the forecast period. The key competitors in the market are innovating their products in terms of design, color, shape, and weight to meet the needs of individual consumers. The demand for water sports equipment is increasing as the number of beginners transitioning to seasoned recreational water sports enthusiasts is rising. Thus, many water sports equipment manufacturers are launching new lightweight and advanced equipment to cater to their requirements. The jet skiing industry is one of those industries that is witnessing many advancements in technology since its inception.”
According to the report, one driver in market is growth in soft adventure sports enthusiasts. In 2016, a growing number of sports enthusiasts showed interest in alternative physical activities like outdoor and adventure sports including backpacking, scuba diving, rafting, snorkeling, stand-up paddle boarding, wakeboarding, jet skiing, and leaf peeping. This growth is mainly because of the increased participation of health-conscious people who prefer to stay fit and healthy. The popularity of such activities is owed to the need for leisure with increasing hectic lifestyle of today's global population, especially in urban areas. On a global scale, the need for leisure is especially evident among people who fall under the age bracket of 25-44 years. For instance, in 2016, over 56% of the US population who participated in such outdoor activities belonged to this age group.
Further, the report states that one challenge in market is consumer shift to jet ski equipment rentals. High costs of jet skiing equipment are leading to an increase in preference for rented equipment. PWCs and the related protective gears are high priced, and this associated price with jet skiing tends to restrict potential market growth, especially among people engaging in jet skiing as a recreational activity. The total average cost of quality PWCs and protective gears are more than $7,000; however, PWCs and protective gears are available for rent for just $200 and $15, respectively, for two hours. This high cost of new PWCs and protective gears offered by global competitors results in a significant challenge to the renowned global jet skiing equipment market. This is because of most of the end-users, especially in the developing regions, are reluctant to use such high-priced equipment, which, in turn, affects the revenue of the global jet skiing equipment market. Moreover, casual jet skiing enthusiasts tend to rent above-mentioned equipment rather than buying it, which further hampers the growth. Southern California Jet Skis is one of the sites that sell these products on rent. On this website, the equipment is available at a very low price than the price of the new ones.
Dongguan Eyson Lifesaving Equipment, Jettribe, Kawasaki Motors, O’Brien, Sea-Doo, Yamaha Motor, BELLASI, Billabong, BODY GLOVE, BomBoard, Cressi, Dive Rite, Jetpilot, Quadrofoil, Rave Sports.
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