Water Sports Vehicles Market to be dominated by River Water Sports through 2027
Increased expenditure capacity and ongoing technological
advancements drive the demand for global water sports vehicles market over the
forecast period, 2023-2027.
According
to TechSci Research report, “Water Sports Vehicles Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2017-2027”,
the global water sports
vehicles market is anticipated to grow at a significant rate in the forecast
period, 2023-2027. Global water sports vehicles market is driven by the
increase in the use of water scooters for underwater exploration and adventure
activities and the rise in the disposable income of middle-class families.
Water sport vehicles are used for recreational purposes and used for adventure
activities on the sea and ocean coasts. The most common water sports vehicles
are water scooters and bikes, as they are readily available at affordable
rates. Deep propulsion vehicles and water jet bikes are some of the most common
water scooters, and they are operated by fuel or battery-powered systems. Water
scooters are highly popular among the coastguards to ensure the safety of
beaches. Water sports vehicles are generally light in weight and help the
divers to increase the range for underwater exploration.
However, safety issues underwater may restrain the
market growth in the forecast period.
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The global water sports vehicles market is
segmented into vehicle type, distribution channel, location, regional
distribution, and competitive landscape.
Based on vehicle type, the market is
divided into speed boat, watercraft, skiing boat, deck boat, rowing boat and
others. Skiing boat segment is expected to account for significant market share
in the forecast period as it is one of the most exhilarating water sports and
provides several health benefits to the user. Water skiing improves the core
strength and tones the leg and muscles of the body.
Based on location, the market is divided
into river water sports, sea water sports, and others. River water sports are
expected to capture the highest market share in the forecast period. Riding on
the water on river waves is a different and unique experience than on the sea
waves, which is a major reason for their popularity among water sports
enthusiasts. Rafting, sculling, fishing, and yachting are the other common
activities that take place on the river and require the use of water sports
vehicles.
Major operating companies operating in global
water sports vehicles market are:
- Porter, Inc.
- Sea Sport Boats Inc.
- Brunswick Corporation
- The MasterCraft Boat Company
- Malibu Inc.
- Polaris Inc.
- Bombardier Recreational Products Inc.
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“The emergence of the online platforms
and availability of the water sports vehicle for rental purposes is expected to
have a significant impact on the global water sports vehicle market. Market
players provide water sports vehicles at rent to the tourist and generally
include the cost in the tourist package. The rise in the number of market
players providing water sports vehicles at affordable rates is garnering
customer attraction. The growing popularity of water sports and adventure
activities and the launch of advanced water sports vehicles providing higher
comfort and safety to riders are expected to propel the growth of the global
water sports vehicle market till 2027” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Water Sports Vehicles
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2017-2027, Segmented By Vehicle
Type (Speed Boat, Watercraft, Skiing Boat, Deck Boat, Rowing Boat, Others), By
Distribution Channel (Dealer, Direct from Manufacturer, Online), By Location
(River Water Sports, Sea Water Sports, Others), and By Region”, has evaluated the future
growth potential of global water sports vehicles and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in global water sports vehicles market.
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