Published: 28-Jan-2020 | Published By: Market Research Store
The published report on “Yacht Market –By Type (Sport Yacht, Super Yacht, Flybridge Yacht, Long Range Yacht), By Yacht Length (Above 50 ft, 20 to 50 ft, Up to 20 ft), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025.” shows the escalating demand for global Yacht market in 2018 which was approximately USD 6.19 Million. It is anticipated to reach around USD 6.95 Million by 2025 with a CAGR of around 6%.
The demand for yacht is expected to surge up due to the increasing demand for exclusive traveling which is one of the factors driving the growth of the market. The use of composites in the yacht has increased due to corrosion resistance properties, high strength, and low maintenance expenditure which, in turn, are anticipated to boost the yacht market. The innovations in the yacht propulsion systems have helped reduce vibrations & noises and also operate at variable speeds and all this is predicted to increase sales of the yacht and help the market bolster in the forecast timeline.
Browse Full Report 143 Market Data Tables and 46 Figures spread through 143 Pages and in-depth TOC on "Yacht Market (Manufacturing, Aviation & Transportation, Food Processing, Science & Technology), Region - Global Forecast to 2025" View detailed Table of Content here - https://www.marketresearchstore.com/report/global-yacht-market-research-report-2019-2024-559214
High cost of ownership has no impact on marine travel and tourism activities, which is predicted to help expand the yacht market. In addition to this, the easy availability of a yacht on rental basis is predicted to improve the industry potential during the forecast timeframe. The increasing use of sport yacht for sports tournaments, marine tourism, and other recreational activities such as cruising & fishing and other water sports activities has attributed to its high demand in countries like China and France. Thus, the sport yacht segment is predicted to dominate the market during the forecast timeline. Additionally, as boating is an all-time activity, the yacht market is definitely going to surge up during the forecast period. Apart from this, the shallow draft for water anchorages and lesser moorage costs are also making 20 to 50 ft length size a preferred choice among the users and thus, the 20 to 50 ft segment dominated the market in 2018. Upto 20 ft segment anticipates witnessing a good growth rate during the forecast owing to the increasing demand for renewable energy usage in compact sea vessels for low emission and fuel consumption. Other activities including white-water rafting, sail training adventures, fishing, kayaking, and one-day boating adventures like scuba diving, free diving, and snorkeling are anticipated to increase investments in coastal recreational activities which, in turn, boosts the yacht market expansion.
The market is anticipated to show immense growth in Europe over the forecast period. The growth in the region is basically due to the increasing adoption of technologically advanced yachts and increasing count of High-Net-Worth Individuals (HNWI). On the other hand, countries like China, Germany, and France are expected to experience substantial growth over the forecast period. Furthermore, the rising number of marine recreational activities in countries such as Singapore, China, Thailand, and Australia is also predicted to bolster the growth of the Asia Pacificyacht market.
Major key players in the yacht market include Ferretti S.p.A., Azimut Benetti S.p.A., Brunswick Corporation, Damen Shipyards Group, Alexander Marine International Co., Ltd. (AMI), The San Lorenzo S.p.a, Heesen Group, Sunseeker International, and Princess Yachts Limited, among others. Themanufacturers are undertaking initiatives and adopting strategies such as launching new products & services, entering into partnerships, making investments, mergers & acquisitions, and sustaining competitive prices for their products & services to increase the market shares.
The segmentation of global yacht market includes:
Global Yacht Market: By Type
- Flybridge yacht
- Super yacht
- Long range yacht
- Sport yacht
Global Yacht Market: By Yacht Length
- Up to 20 ft
- 20 to 50 ft
- Above 50 ft
Global Yacht Market: By Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Key Pointers Addressed by the Report
- Historical data and forecast analysis of the market
- Drivers and Restraints affecting market dynamics
- Exhaustive analysis about the future market trends
- Comprehensive information about the leading market segments and region
- Strategic developments made by the competitive players and in-depth analysis about its impact on market growth
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