ELECTRIC PWC MARKET

INTRODUCTION ELECTRIC PWC MARKET

The original idea of Personal Watercraft originally surfaced in the 1950s in the UK. Since the establishment of the PWC market in the year 1960, the industry has seen a boom in its growth.

Concerns relating to emissions of the increasing number of pollutants released due to the operation of four-stroke engines of PWC motivated the push for multiple inventions and modifications in its key components. With the introduction of battery-powered PWC, its market is free from a major blunder.

The batteries which are put in use for Electric personal watercraft are modified versions of normal batteries used in on-road vehicles to achieve stability.

Since the time, the first industry’s Electric PWC – Gratis X1, which had 45 minutes of operation through a single charge, there have been numerous advancements in this field.

The striking factor at this point is that electric PWC is a new product with immense potential to replace normal PWC and bloom growth opportunities for itself. The use of personal watercraft extends from individual amusement to Patrolling over the seas with rescue missions involving fast and extreme environmental conditions.

The following report will further dwell on the integral aspects of the market.

ELECTRIC PWC MARKET MARKET DYNAMICS

The pushing elements behind the Personal Watercraft market can are:

• Recovering the global economy thus reopening the market growth opportunities.
• Increase in disposable income, motivating more expenditure in recreational activities.
• Increase in Water Tourism.
• Efficient, less maintenance, and easy mobility providing favorable characteristics of a watercraft.
• Increasing Water Sporting Activities.
• Advancement in electric vehicle batteries worldwide.
• General tendency and awareness uprising on use of clean and green fuel.
• Fuel market uncertainties.

The Electric Personal Watercraft, based on seat capacity, can be divided as One Seater, Two-Seater, or three-seater. Prototypes and development are on the go since the motors and torque required for a different body design and weight require changes. 

Unlike Normal Personal Watercrafts, the Electric PWC market is not dominated by a few key players. Since, this market demands growth opportunities for innovators in Electric PWC, startups and small companies are seen to make a prominent place in this market.

ELECTRIC PWC MARKET SIZE AND FORECAST

The Electric PWC Market is paving a way for itself and simultaneously dominating its counterpart – the normal Personal watercraft.

The regions of interest and growth opportunities can be divided as North America, the Asia-Pacific region, Europe, and the rest of the world. 

An increase in Water Sporting and tourism interests globally have sparked a demand for PWC.

The region of Asia-Pacific holds enormous potential for a market to be exploited, especially in countries namely – China and India. Additionally, there are high chances of this market being vulnerable to new technology advancements of PWC. Henceforth, the Electric Personal Watercraft is surely going to be a major hit in this region.

To add, owing to high fuel prices and a greater push to the usage of green fuel globally, is an important factor for the rise in sales and manufacturing as well of Electric Personal Watercrafts.

The United States accounts for large scale manufacturing of Personal Watercraft and is expected to increase its influence for the same by opening more manufacturing units, for Electric PWC’s, while keeping the production of normal PWC’s intact. The boost in the Research and Development of Electric PWC in this region provides a promising outlook for future opportunities.

The impact of Covid-19 has hit manufacturing and sales worldwide. Being vulnerable to these problems, the Electric Personal Watercraft has faced serious hits in the previous year in manufacturing and sales.

After understanding the various dynamics associated with this market, there are numerous encouraging features for the Electric Personal Watercraft market to bloom. Besides, the additional safety apparatus available in the PWC itself make it an optimum choice for individual amusement, tourism, and another agency. With all the features discussed, a propitious growth is expected in the forecast period.

ELECTRIC PWC MARKET COMPETITIVE LANDSCAPE

While Electric Personal Watercraft seems to be fast developing, the price has remained a big hurdle for this market. To counter this, price competitive with traditional PWC, the Taiga’s Orca claims to offer the best of the features. The company claims of its product producing 20 times less noise than the normal combusting PWC.

This feature of electric PWC attracts potential customers. Additionally, the features of zero maintenance and no requirement of refueling, lead to a huge amount of savings which is the much-anticipated advantage of Electric Personal Watercrafts.

DiMora’s four-passenger electric watercraft features inclusion of solar panels to power its systems and battery charging with the addition of high-intensity underwater LEDs for night-time recreation, GPS, and high-power music and video entertainment system, enhancing the end-use for families.

Green Samba, a brand-new product by Silveria Group comes with a new design of electric jet-ski that is the kneeling position for the pilot of the jet-ski which enables better control of the watercraft. However, the product is still in the design phase but the major part of efficiency has been overcome by the team after tremendous efforts. The product claims three hours of non-stoppable operation with a single charge.

Owing to prominence in PWC, some branded companies are swiftly shifting their endeavors on inventions and comfortable features to offer the general public.

With the growing awareness and shift of the general tendency of the public to use clean fuels, the Electric PWC proves to be the ideal product in demand.

Although sometimes, noise from the inside machinery is an irritating experience for consumers, the new improvised models are much silent and smooth to go. With the easy charging and no constraints of unstable fuel markets, Electric PWC’s seem to have a positive road ahead.

ELECTRIC PWC MARKET COMPANIES PROFILED

• Taiga Motors
• Gratis X1
• Yamaha Motors
• Honda Motors
• Kawasaki Motors Corporation
• Polaris Industries
• Lampuga
• Silveria Group
• Free Form Factory
• SeaDoo
• DiMora Eco Watercraft
• Nikola Motor Company