Ankur Gupta

Jet Ski market, Personal Watercrafts market, Jet skiing accessories market, Jet Skiing protective gear market, American jet skiing equipment market-Ken Research

Press Release   •   Jun 01, 2018 13:41 IST

The report titled “Global Jet Ski Equipment Market Outlook to 2022 - by Equipments (PWCs, Protective Gear, Clothing, Telescoping Paddle and Other Accessories), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand and by Distribution Channel (Company Stores and Specialty Stores, Hypermarkets, Department Stores & Supermarkets, Online and Others)” provides a comprehensive analysis of Global Jet ski Equipment market introduction, market size, value chain and market segmentations by Equipments (PWCs, Protective Gear, Clothing, Telescoping Paddle and Other Accessories), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand and by Distribution Channel (Company Stores and Specialty Stores, Online, Hypermarkets, Department Stores & Supermarkets and Others). The report extensively covers competition scenario, market share and competitive landscape of major players including sea-Doo, Dongguan Eyson Lifesaving Equipment, Jettribe, O’Brien, Yamaha and Kawasaki, SWOT analysis and analyst recommendations.

The report facilitates the reader with the identification and in-depth analysis of the existing and future trends and issues that impact the industry. The report apprises the reader on the growth in the future depending upon changing industry dynamics in coming years. The report is useful for water sports equipment manufacturers, Jet Ski equipment manufacturers, distributors, specialty sporting goods stores, department stores, e-commerce portals, customers and other stakeholders to plan their market centric strategies in accordance with the ongoing and expected trends in the future.

Global Jet Ski Equipment Market Size and Overview

Market Overview: Globally International tourist arrivals and international tourism expenditure has been increasing at a steady pace over the review period 2012-2017. Coupled with an increase in interest of people towards soft adventure sports, rising popularity of jet skiing & adventure sports and growing awareness regarding numerous fitness-benefits of opting jet skiing has supported growth in this industry. Americas has been the biggest market in terms of expenditure incurred by consumers in jet skiing equipments followed by Europe, APAC and Middle East & Africa. Increase in demand has also been affected by growing base of Millennial, higher disposable income in major markets, presence of well-established players and expanded distribution network in new regions/countries.

Market Size: Low training cost, increase in variety of jet skiing equipments available in the market, primarily in terms of size, quality, capacity and utility, major players have been using diverse product portfolios and aggressive marketing & sales strategies to position themselves in the market. This has helped the market to grow at a CAGR of close to 10.0% during 2012-2017. Increased trade has been observed amongst major producing and consuming countries. Several leading manufacturers have invested huge amount in research & development segment to foster product innovations to increase durability and sturdiness of jet skiing equipments.

Market Segmentation

By Equipment: Personal Watercrafts (PWC) are the leading category of equipment in the market and have captured the maximum share of market in 2017. Major reason for PWCs to hold higher revenue share in the market is its increasing sale and high price. These equipments are bought by jet skiing professionals, retail/recreational clients as well as by large-scale and small scale Jet Ski training camps and institutes in large quantities. The average price of a PWC may range from USD 5000 to USD 9000. The second largest category of equipments was protective gear in 2017. This was followed by Clothing, Telescoping Paddle and other accessories respectively. The average price for helmets lies between USD 45-60 depending on the brand and for life jackets, it varies from USD 40-140 depending on the material of the vest. Protective gears are generally available in all type of distribution channels including company stores, specialty stores, supermarkets, departments stores, hypermarkets and online. Similarly, clothing is available at all the distribution channels. Wetsuits priced in the range of USD 100–300 is preferred the highest among the people. There are several excellent foldable models of telescoping paddles that are simple to store on the craft. They are also designed in different formats. The average price of a telescoping paddle in the market is about USD 50.

By Region: The Global Jet Ski equipment market was dominated by Americas in the year 2017. The region occupies the largest share owing to the presence of huge coastline, well-established water sports infrastructure and large number of jet skiing enthusiasts. In the recent years, jet skiing has been adopted as a recreational activity along with being taken-up professionally. Europe accounted for the second largest share in the jet skiing equipment market. The presence of increased number of water sports sites across Europe makes it the second-largest revenue contributor. APAC region also witnessed growth in demand for jet skiing equipments with an increase in both consumption and production especially in Australia, Thailand, Indonesia, and Cambodia. Middle East and Africa has accounted for the lowest share in the market. Major reasons to support such low revenue generation are low participation rates, less number of jet skiing facilities available and low awareness amongst population regarding jet skiing as a sports event.

By New and Existing Demand: In the year 2017, it has been observed that the existing demand from existing users and new demand from new customers have performed very positively in the market. Existing demand exceeded new demand by 10 percentage points in 2017. With up-gradation of products and new launches, customers replace their current equipments with the advanced ones. Moreover, with rising competition in various regional championships and more number of jet skiing camps being established to attract tourism, repeat demand from existing customers is very strong. Influenced by the health benefits of the sport including enhancing cardiovascular strength and strengthening of vital muscles throughout the body, such as calves, ankles, quads, hamstrings and hip flexors, among others, new customers have been attracted to the market.

By Distribution Channel: Company Stores and Specialty Stores dominate the market in 2017. This sales channel has been highly popular since major large scale manufacturers of jet skiing equipments usually operate through own brand stores that exclusively sell equipments of their brand. These are known as exclusive brand outlets of the companies located in various countries across the world. The purchase of sports equipments online has been gaining high popularity over the years. Department Stores, Hypermarkets and Supermarket stores have been the second highest contributor in 2017. These establishments offer a closer evaluation of products and provide the required support and information to consumers, especially through expert customer service personnel. Some of the well-known stores include Walmart and Tesco. Online Stores were in third place in terms of market share. Online stores offer seasonal discounts to attract customers and follow a competitive pricing policy. Some of the major online retailers selling sports equipments are Amazon and Alibaba.

Competitive Landscape

Competition in the Global Jet Ski equipment market is highly fragmented due to the presence of large number of regional player`s. In the Americas, however, the nature of competition is concentrated due to presence of a majority of market leaders having substantial control in terms of market share in 2017. Various manufacturing facilities are based in this region leading to large exports to countries. Similar is the scenario in Europe where Spain and Italy have been major manufacturing hotspots. The major players in the market carry out both manufacturing as well as trading. Competition in APAC and Middle East & Africa is still in the growth phase & highly fragmented. China, Japan, Indonesia and Australia are popular manufacturing destinations. There are about 10-15 major jet skiing equipment manufacturers operating in the global market. These players compete against each other on the basis of parameters such as price, product differentiation (product portfolio size and product innovations), distribution network, geographical penetration/geographical presence and research & development activities.

Future Analysis and Projections

Global Jet Ski equipment market has been anticipated to showcase a sound growth at a CAGR of close to 12.0% during the forecast period (2017-2022). Growth during this period is expected to be supported by the rising popularity of jet skiing as a recreational and professional activity, increase in the number of jet skiing championships, increase in demand from tourists, increased awareness regarding fitness benefits of jet skiing, expanding geographical presence of major manufacturers, intensifying distribution channels, expansion of online retailing, new product launches, government initiative to promote the usage of protective jet skiing equipments and others.

For more information on the research report, refer to below link:

https://www.kenresearch.com/consumer-products-and-retail/sporting-equipments/global-jet-ski-equipment-market/149542-95.html

Related Reports:

https://www.kenresearch.com/consumer-products-and-retail/sporting-equipments/global-rafting-equipment-market/149103-95.html

The report provides a comprehensive analysis of global rafting market introduction, market size and market segmentation by Equipments (Protective Rafting Gear, Rafting Accessories & Inflatable Rafting Boats), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand, by Distribution Channel (Company Stores and Specialty Stores, Online, Hypermarkets, Department Stores & Supermarkets and Others) and by Equipment Price.

https://www.kenresearch.com/consumer-products-and-retail/sporting-equipments/global-surfing-equipment-market/149478-95.html

The report covers introduction, value chain and market size on the basis of consumer expenditure, market segmentation by Equipments (Surf Board and Surf Gear & Accessories), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand and by Distribution Channel (Company Stores and Specialty Stores, Online, Hypermarkets and Others).

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249