Aug 21, 2019   SOURCE: PR NewsWire

Global $10.2Bn Luxury Yacht Market by Size, Type, and Material - Forecast to 2025

DUBLIN, Aug. 21, 2019 /PRNewswire/ -- The "Luxury Yacht Market by Size, Type, and Material: Global Opportunity Analysis and Industry Forecast, 2018 - 2025" report has been added to ResearchAndMarkets.com's offering.

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    --  This 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.

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.

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 Findings

    --  The 75-120 feet segment was the highest contributor to the global luxury
        yacht market in 2017, and is projected to grow at a moderate CAGR during
        the forecast period.
    --  There is a continuous buzz for yacht tourism across the world. As a
        result, the global luxury yacht demand in terms of volume is projected
        to grow at with a CAGR of 3.8% during the forecast period.
    --  Personalization, chartering, and remote exploration by yachts are the
        some of the emerging luxury yacht market trends around the world.
    --  Fiber reinforced polymer/composites segment accounted for about
        three-fourths of the market share for 2017 and is projected to grow with
        highest the CAGR during the forecast period.
    --  Motorized luxury yacht segment is projected to exhibit rapid growth in
        the luxury yacht market, owing to easy maneuverability, high power, and
        more on board facilities.
    --  In terms of volume, Italy accounted for about 42% share in global luxury
        yacht market for 2017.

For more information about this report visit https://www.researchandmarkets.com/r/xrsyw5

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SOURCE Research and Markets