Rising interest in the jet skiing sport by recreational tourists and sports enthusiasts worldwide and rise in marketing initiatives taken by various entities in the value chain especially jet ski camps & tourism boards across the globe have been regarded as the key drivers of growth in the global market during the year 2012-2017.
The report titled “Global Jet Ski Equipment Market 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) – Outlook to 2022” by Ken Research suggests that sustained efforts of jet skiing equipment manufacturers and rising popularity of jet skiing as a recreational and professional activity in different regions would continue to surge growth in the market.
During the review period (2012-2017), the market displayed a stable and steady growth. This growth has been supported by factors such as growing awareness of a healthy lifestyle, rising popularity of jet skiing, growing interest of people in soft adventure sports and others. During this period, the market witnessed an increased emphasis on water sports activities by various government authorities. In an attempt to generate higher revenue from the tourism industry, various tourism boards of countries especially US, France, Spain, Italy, Thailand and Indonesia have been putting great efforts to promote jet skiing and other similar water sports activities. Moreover, improved promotional campaigns were being run by government and private tour operators in various countries. These include marketing initiative such as discounted vacation packages with jet skiing activities, banner promotions, private jet skiing activity organizers associating with leading hotels and camps so as to increase consumer demand. Changing lifestyles, with increase in the number of people taking up some form of recreational sporting activity to maintain physique along with an increase in recreational expenditure, have helped in increasing the popularity of jet skiing.
In Americas, the number of participants indulging in jet skiing sport activities was around 6.3 million in 2016. The growth of the market was recorded at a CAGR of close to 10.0%. Increased participation of females has also provided thrust to the market. Increased participation in the sports championships has led to a rise in the number of water sports tournaments worldwide, further fueling growth in the market. For instance, the King’s Cup – Jet Ski World Cup 2016 was sponsored by Thai airways and held at Pattaya, Thailand. These factors have together surged market growth in the overall global industry.
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