A recent market intelligence report that is published by Data Insights Partner on the global Luxury Yacht Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Luxury Yacht Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Luxury Yacht Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Luxury Yacht Market is offered. In accordance with the report, the global Luxury Yacht Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Luxury Yacht are also known by the name crewed yacht. The rich class around the globe predominantly own luxury yacht. These kinds of yachts provide an unparallel experience in floating abode with premium privacy features. Resources are expended lavishly on these yachts to enhance its outlook and for its operation and maintenance. These products are either privately owned or privately crewed. These kinds of yachts provide spectacular experience with premium relaxation. The size of such yachts generally exceeds 24 meters. While the average size of such yachts is around 40-meter mark.
Luxury yachts are of premium price and can only be purchased by the richest class of the globe. An upsurge in the number of billionaires is primarily fueling the growth of this market. From 2013 to 2018, the number of billionaires around the globe has risen from 589 to 2101. This class of people is the target consumers of the luxury yachts. An upsurge in such section of the population is driving this market.
The rising proportion of the population who are indulging themselves in the travelling and recreational activities are bolstering the growth of this market. The increment in the exploration of remote areas, luxurious experiences and leisure of the millennials is one among the determining factors. The expansion of the tourism sector especially marine tourism and rising involvement in water sports activities is propelling the growth of the luxury yacht market.
The development of the corporate sector is another factor augmenting the growth of this market. A majority of the corporate events and corporate parties are held in yachts for client impression by the leading players of different market in the corporate world.
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Luxury Yachts are not ordinary boats. These boats comprise of premium prices relative to other boats which is hindering the growth of this market.
Luxury yachts and vehicles on waterbodies. The increasing number of such boats are increasing the levels of water pollution of the water bodies and enlarging environmental concerns which is disrupting the functioning of this market.
Further, the governments of various nations are formulating rigid directives to regulate this market is threatening the growth of the luxury yacht market.
The procurers of luxury yacht are increasingly focusing on the operation of yachts with lower carbon footprint. The producers of luxury yachts are working hand-in-hand to produce yachts with sustainable solutions. The necessity for energy efficient yachts is likely to open up new avenues for this market.
The rising disposable income in the hands of the people and their increasing involvement in tourism, travelling, recreational activities coupled with the rise in the number of billionaires at a stead rate is likely to thrive the market for luxury yachts in the coming years.
In terms of region, the market for luxury yachts is divided into North America, Latin America, Europe, Asia Pacific, Middle East and Africa. The Europe region dominates the market for luxury yachts and is expected to continue its domination in the forecast period. Such growth is attributable to the presence of highest number of billionaires in this region. This region comprises of good scope for tourism because of the presence of beautiful places coupled by the increasing expenditure of the government for boosting tourism and the organization of a large number of parties in this region are some of the key factors determining growth in this region. Government policies aimed at lowering marine resort taxes, easy renting and leasing facilities and the rising organization of international trade events are propelling the growth of this market in this region. Globally, the luxury yacht market is projected to grow at a CAGR of 7.8% in the forecast period.
This market intelligence report on the global Luxury Yacht Market encompasses market segments based on size, type, material, application and country.
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By Size the global Luxury Yacht Market has been divided into:
q 75-120 feet
q 121-250 feet
q Above 250 feet
By Type the global Luxury Yacht Market has been divided into:
q Sailing Luxury Yacht
q Motorized Luxury Yacht
By Material the global Luxury Yacht Market has been divided into:
By Application the global Luxury Yacht Market has been divided into:
By country/region, the global Luxury Yacht Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Sinot Yacht Architecture and Design
q Damen Shipyards Group
q Alexander Marine Co Ltd
q Ferretti S.p.A
q Princess Yachts Limited
q Sunseeker International
q Sanlorenzo Spa
q Viking Yacht Company
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Luxury Yacht Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
Sinot Yacht Architecture and Design
In October 2019, a superyacht Aqua, globe’s first hydrogen-powered yacht was unveiled by Sinot Yacht Architecture and Design at the Monaco Yacht Show.
Damen Shipyards Group
In June 2019, a contract was signed between Oslo and Damen Shipyards Group. Oslo being a seaDream yacht club based in Norway.
Alexander Marine Co Ltd
In October 2018, a collaboration between Evan Marshall and Alexander Marine Co Ltd took place. According to the collaboration, a brand-new 90r yacht was launched. This yacht consists of expensive dining area, entertaining space, full-beam master suite and glass-enclosed beach clubs.
Ø This study offers comprehensive yet detailed analysis of the Luxury Yacht Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Luxury Yacht Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Luxury Yacht caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Luxury Yacht Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Luxury Yacht Market
v Identification of key factors driving investment opportunities in the Luxury Yacht Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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