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Personal Watercraft Manufacturing in the US - Market Research Report (2015-2030)

Dmitry Diment Dmitry Diment New York, United States Last Updated: February 2025 NAICS OD4352

Revenue

$1.1bn

2025

$1.1bn

Past 5-Year Growth

Profit

$XX.Xm

Employees

358

Businesses

11

Wages

$XX.Xm

Personal Watercraft Manufacturing in the US industry analysis

The Personal Watercraft Manufacturing industry has navigated turbulent waters as the COVID-19 pandemic and its aftereffects created challenging conditions. Personal watercrafts are highly discretionary purchases, with demand flowing in line with trends in discretionary income and consumer confidence. The industry grew steadily during heady economic times prior to the outbreak of COVID-19 and boomed throughout the pandemic as consumer spending rose, interest rates dropped to record-low levels and consumers found themselves with more leisure time as a result of pandemic-era restrictions. However, the high interests rate environment enacted by the Federal Reserve in an effort to stamp out high inflation has made the purchase of personal watercraft more expensive, while simultaneously reducing exports of more costly American-made products. Consequentially, heavy revenue declined in 2021 and 2022 have prompted a decline across the industry, with revenue forecast to fall at a CAGR of 4.7% to $1.1 billion over the five years to 2023. In 2023, the industry is expected to bounce back with revenue growth of 0.6%.The industry is highly globalized and domestic manufacturers compete with significant import penetration. While some companies, like Kawasaki and Yamaha, have manufacturing facilities in the United States, other major brands like Bombardier do not produce personal watercraft domestically. After falling in accordance with rising interest rates that have made costly purchases of personal watercrafts on credit more expensive, imports are expected to return to growth. Although imports account for nearly a third of domestic demand, domestic manufactures have managed to continue expanding profit margins. In addition to the scale at which the largest companies operate at that allows them to keep overhead low, the increase in demand for personalized products comes at a steep price and generates greater margins for manufactures.Industry revenue is expected to return to growth moving forward as the economy is expected to grow stably, while the US dollar depreciates, producing stable growth in export revenue. While lower oil prices will contribute to rising demand, the industry will be challenged by a stagnation in leisure time as Americans return to the workplace in greater force. The industry will nonetheless expand even as import penetration continues to rise in this globalized industry. According, industry revenue is forecast to increase at a CAGR of 3.1% to $1.2 billion over the five years to 2028.

Trends and Insights

  • The industry benefited from greater leisure time and an increase in consumer spending at the height of the pandemic. Personal watercraft are costly, highly-discretionary purchases and their use also depends on the availability of free time.
  • Runabout or sit-down personal watercraft are the most popular product. These products include those used for recreational boating, fishing and water-skiing, as well as watercraft that have small sleeping quarters.
  • The Southeast is the largest region for personal watercraft manufactures. The region is a major manufacturing hub and has easy access to supply routes.
  • Economies of scale dominate personal watercraft manufacturers. Companies that can produce and move product in bulk are able to outcompete smaller manufacturers.

Access hundreds of data points and trends

  • Market estimates from 2015-2030
  • Critical performance data and rankings
  • Detailed analysis of competitive forces and the external environment
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Industry Statistics and Trends

Market size and recent performance (2015-2030)

Industry revenue has declined at a CAGR of 4.7 % over the past five years, to reach an estimated $1.1bn in 2025.

Trends and Insights

Consumers used COVID-19 free time to invest in leisure

  • Consumers use personal watercrafts almost exclusively for leisure activities. As a result, their use depends heavily on consumer leisure time.
  • Additional trends and insights available with purchase
Personal Watercraft Manufacturing in the US
Revenue (2015-2030)
IBISWorld Logo Source: IBISWorld

Industry outlook (2025-2030)

Market size is projected to grow over the next five years.

Trends and Insights

Growth will drive new spending

  • Personal watercraft manufacturers will benefit from economic growth, as consumer spending and disposable income increased will produce more purchases.

Biggest companies in the Personal Watercraft Manufacturing in the US

Company
Market Share (%)
2023
Revenue ($m)
2023
Profit ($m)
2023
Profit Margin (%)
2023
354.5
27.2
7.7

To view the market share and analysis for all 1 top companies in this industry, view purchase options.

Products & Services Segmentation

Personal Watercraft Manufacturing in the US
Products & Services
IBISWorld Logo Source: IBISWorld

Industry revenue is measured across several distinct product and services lines, including Runabout or sit-down, Stand-up and Rescue watercraft. Runabout or sit-down is the largest segment of the Personal Watercraft Manufacturing in the US.

Trends and Insights

Runabout or sit-down

  • This product can hold up to three persons and is usually for day use. Sit-down personal watercraft products are powered by motor and are used for recreational boating, fishing and water-skiing.
  • More insights available in the full report

Table of Contents

About this industry

Industry definition

This industry manufactures personal recreational watercraft that riders can sit or stand on.

What's included in this industry?

Sit-down personal watercraft manufacturingStand up personal watercraft manufacturingRescue watercraft manufacturingSport watercraft manufacturing

Companies

Yamaha Corp

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Related Terms

PROPELLERRUNABOUTCUDDY

Industry Code

NAICS 2017

NAICS 336612 - Personal Watercraft Manufacturing in the US

Performance

Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.

Analyst insights

The industry benefited from greater leisure time and an increase in consumer spending at the height of the pandemic. Personal watercraft are costly, highly-discretionary purc...

In this chapter (4)

  • Current Performance
  • Outlook
  • Volatility
  • Life Cycle

Key metrics

  • Annual Revenue, Recent Growth, Forecast, Revenue Volatility
  • Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
  • Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
  • Total Profit, Profit Margin, Profit per Business

Charts

  • Revenue, including historical (2015-2024) and forecast (2025-2030)
  • Employees, including historical (2015-2024) and forecast (2025-2030)
  • Businesses, including historical (2015-2024) and forecast (2025-2030)
  • Profit, including historical (2015-2025)
  • Industry Volatility vs. Revenue Growth
  • Industry Life Cycle

Detailed analysis

  • Trends in supply, demand and current events that are driving current industry performance
  • Expected trends, economic factors and ongoing events that drive the industry's outlook
  • Key success factors for businesses to overcome volatility
  • How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.

Products and Markets

Learn about an industry's products and services, markets and trends in international trade.

Analyst insight

Runabout or sit-down personal watercraft are the most popular product. These products include those used for recreational boating, fishing and water-skiing, as well as waterc...

In this chapter

  • Products & Services
  • Major Markets
  • International Trade

Key metrics

  • Largest market segment and value in 2025
  • Product innovation level
  • Total imports, level and trend
  • Total exports, level and trend
  • Trade Balance

Charts

  • Products & services segmentation in 2025
  • Major market segmentation in 2025
  • International trade, including imports by country and exports by country

Detailed analysis

  • Trends impacting the recent performance of the industry's various segments
  • Innovations in the industry's product or service offering, specialization or delivery method
  • Key factors that successful businesses consider in their offerings
  • Buying segments and key trends influencing demand for industry products and services
  • Recent trends in import and export volumes, country of origin or destination, and expected future trends

Geographic Breakdown

Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.

Analyst insights

The Southeast is the largest region for personal watercraft manufactures. The region is a major manufacturing hub and has easy access to supply routes.

In this chapter (1)

  • Business Locations

Charts

  • Share of revenue, establishment, wages and employment in each state
  • Share of population compared to establishments in each region in 2025

Tables

  • Number and share of establishments in each state in 2025
  • Number and share of revenue each state accounts for in 2025
  • Number and share of wages each state accounts for in 2025
  • Number and share of employees in each state in 2025

Detailed analysis

  • Geographic spread of the industry across North America, and trends associated with changes in the business landscape
  • Key success factors for businesses to use location to their advantage

Competitive Forces

Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.

Analyst insights

Economies of scale dominate personal watercraft manufacturers. Companies that can produce and move product in bulk are able to outcompete smaller manufacturers.

In this chapter (4)

  • Concentration
  • Barriers to Entry
  • Substitutes
  • Buyer & Supplier Analysis

Key metrics

  • Industry concentration level
  • Industry competition level and trend
  • Barriers to entry level and trend
  • Substitutes level and trend
  • Buyer power level and trend
  • Supplier power level and trend

Charts

  • Market share concentration among the top 4 suppliers from 2020-2025
  • Supply chain including upstream supplying industries and downstream buying industries, flow chart

Detailed analysis

  • Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
  • Key success factors for businesses to manage the competitive environment of the industry.
  • Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
  • Key success factors for potential entrants to overcome barriers to entry.
  • Competitive threats from potential substitutes for the industry’s own products and services.
  • Key success factors for how successful businesses can compete with substitutes.
  • Advantages that buyers have to keep favorable purchasing conditions.
  • Advantages that suppliers have to maintain favorable selling conditions.
  • Key success factors for how businesses can navigate buyer and supplier power.

Companies

Learn about the performance of the top companies in the industry.

Analyst insights

Yamaha is the largest company in the industry. The company makes a wide range of personal watercrafts and controls nearly half of all industry-revenue.

In this chapter

  • Market Share Concentration
  • Companies
  • Company Spotlights

Charts

  • Industry market share by company in 2021 through 2025
  • Major companies in the industry, including market share, revenue, profit and profit margin in 2025
  • Overview of Yamaha Corp's performance by revenue, market share and profit margin from 2019 through 2025

Detailed analysis

  • Description and key data for Yamaha Corp, and factors influencing its performance in the industry

External Environment

Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.   

Analyst insights

Regulation focuses heavily on consumer safety. The Consumer Product Safety Commission has full federal oversight over most products produced within the US.

In this chapter

  • External Drivers
  • Regulation & Policy
  • Assistance

Key metrics

  • Regulation & policy level and trend
  • Assistance level and trend

Charts

  • Regulation & Policy historical data and forecast (2015-2030) 
  • Assistance historical data and forecast (2015-2030) 

Detailed analysis

  • Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
  • Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
  • Key governmental and non-governmental groups or policies that may provide some relief for industry operators.

Financial Benchmarks

View average costs for industry operators and compare financial data against an industry's financial benchmarks over time. 

Analyst insights

Purchases represent the largest cost for manufacturers. However, these costs vary considerably among manufactures in accordance with their scale of operations.

In this chapter

  • Cost Structure
  • Financial Ratios
  • Key Ratios

Key metrics

  • Profit margin, and how it compares to the sector-wide margin
  • Average wages, and how it compares to the sector-wide average wage
  • Largest cost component as a percentage of revenue
  • Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio

Charts

  • Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
  • Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
  • Investment vs. share of economy

Data tables

  • Industry Multiples (2018-2023)
  • Industry Tax Structure (2018-2023)
  • Income Statement (2018-2023)
  • Balance Sheet (2018-2023)
  • Liquidity Ratios (2018-2023)
  • Coverage Ratios (2018-2023)
  • Leverage Ratios  (2018-2023)
  • Operating Ratios (2018-2023)
  • Cash Flow & Debt Service Ratios (2015-2030)
  • Revenue per Employee (2015-2030)
  • Revenue per Enterprise (2015-2030)
  • Employees per Establishment (2015-2030)
  • Employees per Enterprise (2015-2030)
  • Average Wage (2015-2030)
  • Wages/Revenue (2015-2030)
  • Establishments per Enterprise (2015-2030)
  • IVA/Revenue (2015-2030)
  • Imports/Demand (2015-2030)
  • Exports/Revenue (2015-2030)

Detailed analysis

  • Trends in the cost component for industry operators and their impact on industry costs and profitability 

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2015-2030)
  • IVA (2015-2030)
  • Establishments (2015-2030)
  • Enterprises (2015-2030)
  • Employment (2015-2030)
  • Exports (2015-2030)
  • Imports (2015-2030)
  • Wages (2015-2030)

Top Questions Answered

Unlock comprehensive answers and precise data upon purchase. View purchase options.

What is the market size of the Personal Watercraft Manufacturing in the US industry in United States in 2025?

The market size of the Personal Watercraft Manufacturing in the US industry in United States is $1.1bn in 2025.

How many businesses are there in the Personal Watercraft Manufacturing in the US industry in 2025?

There are 11 businesses in the Personal Watercraft Manufacturing in the US industry in United States, which has declined at a CAGR of 1.7 % between 2020 and 2025.

Has the Personal Watercraft Manufacturing in the US industry in United States grown or declined over the past 5 years?

The market size of the Personal Watercraft Manufacturing in the US industry in United States has been declining at a CAGR of 4.7 % between 2020 and 2025.

What is the forecast growth of the Personal Watercraft Manufacturing in the US industry in United States over the next 5 years?

Over the next five years, the Personal Watercraft Manufacturing in the US industry in United States is expected to grow.

What are the biggest companies in the Personal Watercraft Manufacturing in the US market in United States?

The biggest company operating in the Personal Watercraft Manufacturing market in United States is Yamaha Corp

What does the Personal Watercraft Manufacturing in the US in United States include?

Sit-down personal watercraft manufacturing and Stand up personal watercraft manufacturing are part of the Personal Watercraft Manufacturing in the US industry.

Which companies have the highest market share in the Personal Watercraft Manufacturing in the US in United States?

The company holding the most market share in United States is Yamaha Corp.

How competitive is the Personal Watercraft Manufacturing in the US industry in United States?

The level of competition is moderate and steady in the Personal Watercraft Manufacturing in the US industry in United States.

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Competitors

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Methodology

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Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.

Key data sources in the US include: 

  • US Census Bureau
  • US Bureau of Labor Statistics
  • US International Trade Commission

Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.

These sources include:

  • Industry and trade associations
  • Industry federations or regulators
  • Major industry players annual or quarterly filings

Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.

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