Power Systems Research forecasts that the number of personal watercraft produced in North America in 2021 will reach 104,200 units; an increase over 2020 levels of about 24%.
This forecast has been developed by Carol Turner, Senior Analyst – Global Operations, at Power Systems Research.
Transcript
Welcome to the PSR PowerTALK podcast produced by Power Systems Research.
00:06
From Power Systems Research I’m Joe Delmont, editor of PSR PowerTALK. Today we will discuss a data point covering personal watercraft production in North America this year.
This forecast has been developed by Carol Turner, Senior Analyst of Global Operations at Power Systems Research. Carol provides annual production forecasts for important equipment applications.
Personal watercraft, sometimes called PWC’s or jet skis, can accommodate up to four persons and are primarily designed for marine recreation, although they also are used for water patrols and industrial activities.
00:50
Jet skis hit rough times in recent years. Production of PWC’s in North America dropped 8700 units, or almost 10%, in 2020.
In 2019, North American production was 93,000 units. The next year production dropped to 84,250 units. Production was reduced in 2020 because of plant shutdowns and parts shortages caused by the pandemic.
While COVID caused plant closures, it also drove demand as consumers look for ways to spend their extra time and cash.
01:35
Things are looking much brighter this year than in 2020. Production this year is expected to surge 24% to about 104,000 units. This is based on high demand for recreational products like these watercraft.
01:53
The National Marine Manufacturer’s Association tells us that the boating industry is booming, and that demand is at a record high as Americans are spending more time on the water this summer.
The popularity of outdoor activities has increased in part because of the pandemic, where people are enjoying off-road riding in the dirt — on motorcycles and four wheelers, and on the water — in boats and personal watercraft.
Expect PWC production in North America to ride this wave and to increase up to 10% by 2025.
02:35
The leading personal watercraft manufacturers in North America are Yamaha, which has almost 50% of total North American production. In second position is BRP with 43 1/2%, and 3rd is Kawasaki with a distant 7%.
In announcing financial results recently, BRP said that its Sea-Doo sales for 2020 increased by 7% over the previous year. This, in spite of its Mexico plant having been shut down for two full months as a result of the COVID pandemic.
The company also noted that approximately half of all its Sea-Doos sold in 2020 were purchased by first time buyers. They’re typically younger, with a higher ratio of women, the company said.
Look for an electric personal watercraft from BRP in the next few years. The company recently announced plans to invest $300 million over the next five years to offer options to consumers; with electric models in each of its power sports and marine product lines by the end of calendar year 2026.
03:53
This data is pulled from two of the major Power Systems Research databases. OE Link is the database of OEM production and forecast data, and EnginLink — which provides engine production forecasts and specification data.
Look for data point reports every month in the PSR PowerTALK News report and on this podcast. Remember, to read a transcript of this podcast visit the PSR website at powersys.com and click on the podcast archive.
Contact us for more information on other marine products such as outboard motors and pleasure craft.
04:31
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