Report Description
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:
Definition
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.
Market Drivers
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.
Market Restraints
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.
Opportunities
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.
Trends
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.
Segment Covered:
This market
intelligence report on the global Luxury Yacht Market encompasses market segments based on size, type,
material, application and country.
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
q Others
By Material the global Luxury Yacht Market has been
divided into:
q Metal/Alloys
q FRP/Composites
q Others
By Application the global Luxury Yacht Market has been
divided into:
q Commercial
q Private
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 Horizon
q Feadship
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.
Report Highlights:
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.
Salient Features:
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