The luxury yacht market size was valued at $5,703.4 million in 2017 and is expected to reach $10,205.7 million by 2025, registering a CAGR of 7.8% from 2018 to 2025
NEW YORK, July 23, 2019 /PRNewswire/ --
Luxury Yacht Market by Size (75-120 feet, 121-250 feet and Above 250 feet), Type (Sailing luxury Yacht, Motorized Luxury Yacht, and Others), and Material (FRP/Composites, Metal/Alloys, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025
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The luxury yacht market size was valued at $5,703.4 million in 2017 and is expected to reach $10,205.7 million by 2025, registering a CAGR of 7.8% from 2018 to 2025.
Luxury yachts are large, luxurious, professionally crewed motors or sailing yachts with length varying from 75 feet and expanding to more than 250 feet. These are often available for chartered providing as well as private purposes to provide seamless luxury experience full of high standard and comfort. Luxury yachts are vessels 75 feet and above accommodated with sophisticated and luxurious and personalized facilities such as Jacuzzi spa, gymnasium, sauna, and sun pads.
The key factors that drive the growth of the luxury yacht market include change in lifestyle of people fueled by growth in high net worth individuals, rise in inclination toward recreational and leisure activities, and surge in trend of yacht tourism. Moreover, customized solutions according to specific requirements and designs have created new opportunities for the growth of the luxury yacht market. However, factors such as high maintenance and running cost are expected to impede the market growth. Furthermore, novel innovations such as advanced composites and multihull yachts have gained huge traction in the recent years, which in turn are anticipated to create lucrative opportunities for the market expansion in the upcoming future.
The global luxury yacht market is segmented based on size, type, and material. Based on size, the luxury yacht market is segmented into 75-120 feet, 121-250 feet, and above 250 feet. Based on type, the market is divided into sailing luxury yacht, motorized luxury yacht and others. Based on material, the market is analyzed across FRP/composites, metal/alloys and others. Based on region, it is studied across Americas, Europe, Asia-Pacific, and Middle East & Africa.
Key players profiled in the report include Alexander Marine Co Ltd, Damen Shipyards Group, Azimut Benetti S.p.A., Feadship, FERRETTI S.P.A., Horizon Yacht USA, Princess Yachts International plc, Sanlorenzo Spa, Sunseeker International Limited, and Viking Yacht Company
KEY BENEFITS FOR STAKEHOLDERS
-- The report provides an extensive analysis of the current and emerging market trends and opportunities in the global luxury yacht market.
-- The report provides detailed qualitative and quantitative analysis of current trends and future estimations that help evaluate the prevailing market opportunities.
-- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
-- An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
-- The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
KEY MARKET SEGMENTS
By Size
-- 75-120 feet
-- 121-250 feet
-- Above 250 feet
By Type
-- Sailing Luxury Yacht
-- Motorized Luxury Yacht
-- Others
By Material
-- FRP/Composites
-- Metal/Alloys
-- Others
By Region
-- Americas
o U.S.
o Brazil
o Rest of Americas
-- Europe
o Italy
o Netherland
o United Kingdom
o Rest of Europe
-- Asia-Pacific
o Australia & New Zealand
o China
o Taiwan
-- Middle East & Africa
o Qatar
o South Africa
o Turkey
o UAE
Key Market Players Profiled in the Report
-- Alexander Marine Co Ltd
-- Damen Shipyards Group
-- Azimut Benetti S.p.A.
-- Feadship
-- FERRETTI S.P.A.
-- Horizon Yacht USA
-- Princess Yachts International plc
-- Sanlorenzo Spa
-- Sunseeker International Limited
-- Viking Yacht Company
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