The GMI Research’s latest analysis reveals that the Luxury Yacht Market is slated to register a significant CAGR over the forecast period. This is attributed to the significantly changing lifestyle of the customers due to the rising disposable and per capita income and increasing urbanization.
Request for a FREE Sample Report on Luxury Yacht Market
Luxury Yacht Market’s leading Manufacturers:
- Alexander Marine International
- Azimut Benetti S.p.A.
- Damen Shipyards Group
- Ferretti S.p.A.
- Feadship
- Princess Yachts Limited
- Horizon
- Sunseeker International
- Sanlorenzo Spa
- Viking Yacht Company
Luxury Yacht Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The significantly changing lifestyle of the customers due to the rising disposable and per capita income and increasing urbanization are the key drivers contributing to the growth of the luxury yacht market. According to the luxury yacht market analysis, the growing emphasis on the development of environment-friendly yachts by using alternative fuels, including solar-powered yachts, and the emergence of the latest technologies for the development of luxury yachts will further boost the growth of the global luxury yacht market. As per the luxury yacht market report, the rising trends for leisure and recreational activities and the growing high net value individuals will further bolster the demand of the market during the forecast period.
The rising interest of tourists in marine tourism and water sports, followed by the increasing tourism industry, will further stimulate the growth of the market. The rising focus of the manufacturers to develop a luxury yacht with advanced properties to improve the overall travel experience of the customers is bringing various new growth opportunities for the luxury yacht market. On the other hand, the stringent environmental policies of the government and the increased cost of maintenance of these yachts will hinder the growth of the global luxury yacht market.
Type Segment Drivers
On the basis of the type, the motorized luxury yacht is expected to increase at a higher CAGR over the coming years due to the rising adoption of this yacht among the customers driven by their improved speed, and comfort & luxury like yacht offers spacious rooms, more free space, followed by fewer cabins to confirm more comfort. Additionally, the capability of the motorized luxury yacht to provide access to the shallow sea and their improved attractiveness in the sea will further accelerate the market growth.
Regional Drivers
Based on the region, Europe is predicted to rise at a higher CAGR over the coming years due to the strong presence of various manufacturing plants of luxury yachts of the leading organizations and the growth in the focus on internalization and trade of the manufactures by strategic alliances.
Luxury Yacht Market Segmentation:
Segmentation by Type:
- Motorized Luxury Yacht
- Sailing Luxury Yacht
- Other Luxury Yacht
Segmentation by Size:
- 75-120 feet
- 121-250 feet
- Above 250 feet
Segmentation by Material:
- Metal & Alloys
- Fiber Reinforced Polymers & Composites
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is one of the leading market research and consulting company that offers consulting services, syndicated research reports, and customized market research reports. We help our client to make informed business decisions and provide market intelligence studies related to the various industries such as automotive, energy, healthcare, chemicals, technology, and other sectors. Our research teams include seasoned analysts and researchers have hands-on experience in every regions, including Asia-pacific, Europe, North America, and the Rest of the World. Our market research report provides in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
