Portland, OR, Nov. 10, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global water scooter market garnered $1.3 billion in 2018, and is anticipated to reach $2.2 billion by 2026, growing at a CAGR of 7.2% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
The capability to enhance diving range, increase in usage for underwater exploration, and ease in navigation boost the growth of the global water scooter market. Whereas, safety issues regarding driving restrain the market growth to certain extent. Nevertheless, its extensive applications during rescue operations usher a number of opportunities in the coming year.
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COVID-19 Scenario:
- In response to the lockdown orders, the key manufacturer in the global water scooter industry have curtailed down the production procedures. The unprecedented global pandemic has impacted the supply chain as well.
- In addition, the suspension of travel and tourism to contain the novel coronavirus has resulted in declined demand for water scooter. This has impacted the industry in terms of revenue.
- Moreover, with the governments being lenient on the restrictions for economic benefits is anticipated to aid the industry in stabilizing its position in terms of revenue.
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The global water scooter market is segmented into application, propulsion type, vehicle type, and region. Based on application, the commercial segment contributed to more than two-fifths of the total share of the global water scooter market in 2018, and is expected to maintain its leadership position during the forecast period. Moreover, this segment is expected to register the fastest CAGR of 9.7% from 2019 to 2026.
Based on propulsion, the fuel-operated segment accounted for largest market share of the global water scooter market, contributing to more than four-fifths of the total market share in 2018, and is estimated to maintain its dominance in terms of revenue by 2026. Nevertheless, the battery-operated segment is expected to grow at the highest CAGR of 10.5% from 2019 to 2026.
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Based on region, North America accounted for the highest market share in terms of revenue, generating nearly half of the global mobile scooter market in 2018, and is estimated to dominate in terms of revenue during the forecast period. Moreover, this region is estimated to maintain the highest CAGR of 7.9% from 2019 to 2026. The report also analyzes regions including LAMEA, Asia-Pacific, and Europe.
The key market players in the report include SUEX S.r.l., Sub-gravity, Torpedo Inc., TUSA (subsidiary of Tabata Co., Ltd.), Yamaha Motor Co., Ltd., Bombardier Recreational Products (BRP), DiverTug, Dive Xtras Inc., Kawasaki Motors Corp., U.S.A. (subsidiary of Kawasaki Heavy Industries, Ltd.), and Logic Dive Gear (subsidiary of Nellis Engineering Inc.).
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