DUBLIN, Sept. 27, 2023 /PRNewswire/ — The “Yacht Industry – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Yacht Industry Market to Reach $13.7 Billion by 2030
The global market for Yacht Industry estimated at US$9.1 Billion in the year 2022, is projected to reach a revised size of US$13.7 Billion by 2030, growing at a CAGR of 5.2% over the analysis period 2022-2030.
The global Yacht Industry market is poised for substantial growth in the coming years. The market, segmented into various types such as Super Yacht, Sport Yacht, Flybridge Yacht, Long Range Yacht, and others, has been witnessing positive trends. Sales in this industry have steadily increased from 2014 to 2021, and the forecast for the period from 2022 to 2030 suggests continued growth.
Super Yacht, one of the segments analyzed in the report, is projected to record 5.5% CAGR and reach US$4.4 Billion by the end of the analysis period. Growth in the Sport Yacht segment is estimated at 6.2% CAGR for the next 8-year period.
This expansion is driven by factors such as increased demand for various yacht types across geographic regions, including the USA, Canada, Japan, China, Europe, Asia-Pacific, and the Rest of the World. The Yacht Industry’s future looks promising, with various yacht types contributing to its overall growth trajectory.
The Yacht Industry market in the U.S. is estimated at US$2.9 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2030 trailing a CAGR of 6.4% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 5.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- 2020: A Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Review of the World Economy in 2021
- World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
- Leisure Marine Industry amid COVID-19 Pandemic
- Global Yachting Industry Maintains Balance Amid the Storm
- The Road Ahead
- Yacht Industry – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- An Introduction to Yachts, the Floating Luxuries
- Classification of Yachts
- Key Trends in Yachting Industry : In a Nutshell
- Yacht Industry to Benefit from the Increasing Wealth of UHNW Individuals
- Number of Ultra High Net Worth Individuals by Region: 2020
- Number of Ultra High Net Worth Individuals by Region: 2025v
- Geographical Localization of HNW Individuals: 2020
- Percentage Breakdown of Number HNWI Individuals by Wealth Tier: 2019
- Top Countries in Terms of Number of Millionaires as % of Adult Population:
- Growing Number of Newer and Younger Billionaires Add to Growth Prospects
- Age-wise Distribution of Billionaires: 2020
- Developed Regions: Key Revenue Contributors
- Yachting Set to Make Significant Gains in Developing Regions
- China Evolves into Fastest Growing Market for Yachts
- China’s Billionaire Population: 2013, 2015, 2017, 2019, and 2021
- Motor Yachts Dominate the Scenario
- Major Production Hubs
- Superyacht Construction Book by Country (in %): 2021
- New Yacht Sales by Build Country: 2020
- Global Number of Projects by Length : 2021E
- Competitive Scenario
- Leading Superyacht Companies by Number of Projects and Total Length in Meters: 2020
- Recent Market Activity
- World Brands
MARKET TRENDS & DRIVERS
- Growing Popularity of Nautical Tourism Underpins Market Expansion
- Super-Yachts Industry Exhibits Mixed Performance through Categories amid COVID-19
- Strong Gains for Explorer Yachts
- Rise in Demand for Superyachts to Trigger Growth
- Demand Shifts to Larger Superyachts
- Top Ten Largest Superyachts Worldwide
- A Few New Superyacht Models in the Market, Introduced in the year 2021
- Consumers Move to Shorter Holidays
- UHNW Individuals Transform the Luxury Yachts Market
- Trends Influencing the Luxury Yacht Building Industry
- Rising Focus on Sustainable Solutions
- Improving Yacht Management Efficiencies
- Exploration Yachting Picks Up
- Increasing Sophistication of Security Systems
- Enhanced Audiovisual Systems Becoming New Normal in Luxury Yachts
- Key Luxury Yachts Launched in 2021
- Democratization of Luxury: A Key Influencing Factor for Luxury Yachts Market
- Millennials Drive the Trend towards Electric Yachts
- Yachts Integrated with Innovations & Novel Design Elements Entice New Yacht Buyers
- Adoption of AI Solutions Gains Momentum
- Smart Yachts: A Key Area of Development
- Designers Get More Optimistic About Possibility of Fully 3D-Printed Yachts
- Gyroscopic Stabilization & Smooth Boat Glides
- Electric & Smarter Yachts
- New Materials & Other Possibilities
- Focus on Technologies to Improve Guest Experience
- New Generation of Super-Yacht Owners Brings New Changes to Yachting Industry
- Higher Demand for Multihulls Among Younger Yacht Owners
- High Demand for Greener and Sustainable Yachts
- Solar Power Emerges as Mega Trend in Global Yacht Industry
- Hybrid Propulsion Systems
- Increased Interest of Yacht Owners in Exploring More Remote Destinations
- Interest in Yacht Charters Poised to Grow in Post-COVID-19 World
- Growing Trend Towards Taking a Staycation on a Yacht
- Established Image of Yacht Chartering in Luxury Vacations Fuels Growth
- Sailing Yachts for Luxury Yacht Charter Experience
- Technological Advances Lead to New Generation of Sports Yachts
- Floating Villas and Artificial Semi-Submersible Islands Gaining Widespread Traction
- Advanced Cybersecurity Measures Gaining Prominence in Yacht Industry
- Surging Interest in Sailing among Women Opens Up Growth Avenues
- Support Yachts Find Favor
- Carbon Fiber Emerges as a Preferred Material for Yachts
- Composites Demand in Boat Building: On the Rise
- Marinas Look to Address Shortage of Berths for Megayachts
- Increasing Disposable Incomes to Propel Yacht Sales
- Yacht’s Marine Electronics to Undergo Compelling Evolution Ahead
FOCUS ON SELECT PLAYERS (Total 255 Featured)
- Acq Group Holding S.A.
- AB Yachts
- ABD Aluminium Yachts
- Abeking & Rasmussen Schiffs- und Yachtwerft SE
- AdaYachtWorks
- Agantur Shipyard – Ozkalay Yachts
- Alexander Marine International (Ocean Alexander)
- Alpha Marine Ltd.
- Yacht Designers & Naval Architects
- AluMarine Shipyard
- Arcadia Yachts Srl
- Arkin Pruva Yachts
- Astilleros Astondoa SA
- Axis Group Yacht Design, Inc.
- Azimut Benetti Group
- Baglietto SpA
For more information about this report visit https://www.researchandmarkets.com/r/m86a3n
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