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Luxury Yacht Market Size to Grow by 327.00 units at a CAGR of 11.32%| Motor Yachts segment is expected to witness lucrative growth | Technavio

·10 min read

NEW YORK, May 27, 2022 /PRNewswire/ -- The Luxury Yacht Market size is expected to grow by 327.00 units with a YOY growth of 7.84% during the forecast period. One of the key factors driving the luxury yacht market is the increase in recreational tourism. The report offers an up-to-date analysis of the current market scenario and information from several leading manufacturers.

Technavio has announced its latest market research report titled
Luxury Yacht Market by Type and Geography - Forecast and Analysis 2021-2025
Technavio has announced its latest market research report titled Luxury Yacht Market by Type and Geography - Forecast and Analysis 2021-2025

For more insights on YOY and CAGR, Request Latest Sample Report.

This market research report extensively covers Luxury Yacht Market segmentations by the following:

  • Type - Software and services

  • Geography - North America, Europe, APAC, Middle East and Africa, and South America

Get more insights into this market's growth with a detailed analysis of the top regions, View our Sample Report!

Luxury Yacht Market Dynamics

Market Driver

The rise in recreational tourism is one of the major drivers driving the luxury boat market. Tourism is a key economic activity that contributes significantly to the economic growth, employment, and social development of many countries across the world. This is partly due to a rise in the number of tourists from emerging nations like China and India, who spend nearly three times as much on overseas tourism as they do on domestic tourism. Increasing tourism and recreational activities are just two of the major reasons behind this.

Market Trend

The adoption of sophisticated materials is another important aspect propelling the luxury boat market forward. The majority of conventional boats are made of steel or aluminium, which makes them hefty and limits their fuel efficiency. Despite the fact that steel and aluminium are less expensive than alternative materials like glass fibre reinforced composites or pure carbon fibre, yacht builders recognise the overall benefits of using carbon fibre in the boat's construction.

Market Challenge

One of the major roadblocks to the luxury yacht market's expansion is the high cost of operating. ACs, televisions, navigation aids, radar, echo-sounding, and autopilot are all standard features onboard motor luxury yachts. Luxury yachts require a reliable power generation system to run all of these features. As a result, luxury motor yachts have higher operating and fueling expenditures than luxury sail yachts. The high operating costs of commercially used luxury boats provide a threat to the worldwide luxury yacht market, despite the fact that their private operation is minimal.

Our reports covers all the major factor that drives a market along with the challenges. To get a detailed understanding of the market trend, Click here to BUY now!

Luxury Yacht Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 11.32%

Market growth 2021-2025

327.00 units

Market structure

Fragmented

YoY growth (%)

11.06

Regional analysis

Europe, APAC, North America, South America, and MEA

Performing market contribution

Europe at 34%

Key consumer countries

US, UK, Germany, China, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alexander Marine International Co. Ltd., Azimut Benetti SpA, Brunswick Corp., Christensen Shipyards LLC, Damen Shipyards Group NV, Feadship Holland BV, FERRETTI SpA, Heesen Yachts Sales BV, Overmarine Group Spa, and Palumbo Group Spa

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Luxury Yacht Market Segmentation

  • Type

  • Geography

Download Sample Report: to know additional highlights and key points on various market segments and their impact in coming years.

Luxury Yacht Market Vendor

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • Alexander Marine International Co. Ltd.

  • Azimut Benetti SpA

  • Brunswick Corp.

  • Christensen Shipyards LLC

  • Damen Shipyards Group NV

  • Feadship Holland BV

  • FERRETTI SpA

  • Heesen Yachts Sales BV

  • Overmarine Group Spa

  • Palumbo Group Spa

Find out the top market vendors, their competition and how they excel in the Luxury Yacht Market in our latest Sample Report. Download our Detailed Sample Report.

Product Insights and News

  • Alexander Marine Co. Ltd. - The company offers luxury yacht through MEGAYACHTS and MOTORYACHTS product segments.

  • Damen Shipyards Group - The company offers superyacht by Dutch luxury yacht builder AMELS.

  • Azimut Benetti Spa - The company offers luxury yacht through Azimut Yachts brand.

Do reach out to our analysts for more customized reports as per your requirements. Speak to our Analyst now!

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Luxury Yacht Market - The increase in recreational tourism is notably driving the luxury yacht market growth. Download our Exclusive Reports Now!

Seafreight Forwarding Market- The growing global cross-border e-commerce market driving the LCL volume is notably driving the sea freight forwarding market growth. Download our Exclusive Reports Now!

Table of Contents

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem

  • 2.2 Value chain analysis

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2020

  • 3.4 Market outlook: Forecast for 2020 - 2025

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Type

  • 5.1 Market segments

  • 5.2 Comparison by Type

  • 5.3 Motor yachts - Market size and forecast 2020-2025

  • 5.4 Sail yachts - Market size and forecast 2020-2025

  • 5.5 Market opportunity by Type

6 Customer landscape

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 Europe - Market size and forecast 2020-2025

  • 7.4 APAC - Market size and forecast 2020-2025

  • 7.5 North America - Market size and forecast 2020-2025

  • 7.6 South America - Market size and forecast 2020-2025

  • 7.7 MEA - Market size and forecast 2020-2025

  • 7.8 Key leading countries

  • 7.9 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Market trends

9 Vendor Landscape

  • 9.1 Competitive Landscape

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 Alexander Marine International Co. Ltd.

  • 10.4 Azimut Benetti SpA

  • 10.5 Brunswick Corp.

  • 10.6 Christensen Shipyards LLC

  • 10.7 Damen Shipyards Group NV

  • 10.8 Feadship Holland BV

  • 10.9 FERRETTI SpA

  • 10.10 Heesen Yachts Sales BV

  • 10.11 Overmarine Group Spa

  • 10.12 Palumbo Group Spa

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Currency conversion rates for US$

  • 11.3 Research methodology

  • 11.4 List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio