The value of the Water Scooter market is projected to grow to US$ 2.5 Billion with an estimated CAGR of 9.5% by 2027
Demand for efficient water scooters having long distance range has transformed the market in the recent years. The diving range for diver’s increases depending upon the scooter’s efficiency. Earlier, diving activities were restricted maximum up to depth of around 130 feet; however, with the introduction of diver propulsion vehicles, the range has exceeded from 170 feet to 350 feet. A water scooter is a watercraft that the rider stands on or sits on it. They are also known as diver propulsion vehicles (DPVs). It has the ability to increase the diving range and rise in use of water scooters for underwater exploration. Besides, it helps in navigation, and enhance the performance of scooters.
The global water scooter market size is predicted to reach over USD 2.54 billion by 2028. This can be ascribed to the ability of water scooters to increase the diving range and rise in use of water scooters for underwater exploration. Besides, increase in inclination of millennials toward water sporting and scuba diving has promoted top companies to develop different water scooters and DPVs, which is also the key factor driving the market growth for water scooter.
However, safety issues under water is expected to hamper the market growth. The increase in incidence of accidents and rise in risk of falling off of riders limits the market growth. For instance, in 2018 a total of 47 accidents were reported in Japan. Thus, alarming upsurge in safety issues associated with riding water scooters affects the growth of the market. Furthermore, wider application of water scooters in rescue operations and their ease in handling is likely to provide lucrative development opportunities for the water scooter market in the forthcoming years.
Water Scooter Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2027||US$ 2.5 Billion|
|Growth Rate||CAGR of 9.5% during 2017-2027|
|Segment Covered||by Vehicle Type, Breakup by Propulsion Type, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Bombardier Recreational Products Inc., Dive Xtras Inc., Divertug, Kawasaki Heavy Industries Ltd., Nellis Engineering Inc., SubGravity, Suex Srl, Torpedo Inc., TUSA Inc. and Yamaha Motor Co. Ltd.|
Key Segments of the Global Water Scooter Market
Propulsion Type Overview (USD Billion)
- Fuel Operated
- Battery Operated
End Use Overview, (USD Billion)
Vehicle Type Overview, (USD Billion)
- Under Water
- Water Surface
Regional Overview, (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global water scooter market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global water scooter market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Water Scooter industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on Propulsion Type, End Use, and Vehicle Type. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global water scooter market. The report will benefit Every stakeholder involved in the water scooter market.
- Managers within the water scooter industry looking to publish recent and forecasted statistics about the global water scooter market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global water scooter market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
Over the past few decades, water scooter has evolved from conventional sports to automated sports. With the growing adoption of numerous technologies, water scooter is no more limited to a particular and one-time use and being adopted across a wide range of industries and their business processes. The introduction of efficient water scooters has increased their adoption for sports activities as well as for safety & security purpose.
Continuous developments in water scooters made by various top companies, which have increased their application in rescue operations. various water scooters have been launched, which aid in rescue operations. For instance, Seabob Rescue is a water scooter, which is lighter in weight and is powerful in operations and can be carried by a single lifeguard. Thus, water scooters majorly find their application in rescue operations, which is anticipated to fuel the growth of the water scooter market across the globe.
Furthermore, Water scooters such as jet skis and diver propulsion vehicles are easy to use for navigation, as they operate at high speed as well as they do not require training or license for their operation. This leads to increased deployment of water scooters for navigation, which is expected to offer several beneficial market opportunities to the key players.
The market is consolidated as several major market players currently hold the major market share. However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries.
Propulsion Type Segment
Based on the Propulsion Type segment, the market is bifurcated into Battery Operated and Fuel Operated. In 2020, the Battery Operated segment accumulated the maximum market share and it is likely to continue its dominance throughout the forecast years. It is due to DPV, which usually consists of a pressure-resistant watertight casing containing a battery-powered electric motor, which drives a propeller worldwide. Moreover, the rise in consumer demand for automated water scooter contributes to the high Battery Operated segment growth in the forecast period.
End Use Segment
Based on the End Use, the market is segmented into Personal, Commercial, and others. The Commercial segment seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. The growth of this segment is largely ascribed to the increasing inclination of people towards water sports activities, water adventures, and underwater exploration activities.
Vehicle Type Segment
Based on the Vehicle Type, the market is segmented into Under Water and Water Surface. The Surface water scooters segment seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. The growth of this segment is largely ascribed to the increasing popularity of water sports activities, rising awareness of safety concerns on coasts, and rescue operations.
North America is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the presence of key players in the region to enhance their business, and the presence of a large number of outdoor sports enthusiasts and water sporting sites across Europe make it the second-largest revenue contributor to the water scooter market. However, the Asia-Pacific is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the Water Scooter market in this region is mostly ascribed to the rise in the number of research grants and an increase in demand for prophylaxis of life-threatening diseases. Moreover, the rising investments in research and development activities for the introduction of advanced water scooter is fueling the growth of global water scooter market in countries such as India, Japan, and China to compete against other regional players.
The major players of the global water scooter market are Yamaha, Kawasaki, Bombardier, Bayliner, Atlantis, Birchwood Marine International, Sunseeker, Heysea, sea-dooThe Water Scooter, and ASIWO. Moreover, the additional prospective market players in the water scooter market are Dive Xtras Inc., SubGravity and Torpedo Inc. Renowned companies are offering new and modern water scooter software services. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.