Global Luxury Yacht Market, 2020 - Research and Markets
DUBLIN, Apr 6, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Luxury Yacht Market 2016-2020" report to their offering.
The global luxury yacht market to grow at a CAGR of 7.01% during the period 2016-2020.
Global Luxury Yacht Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one driver in the market is increase in tourism and recreational events across the globe. Tourism is a significant contributor to the economic growth, employment opportunities, and social development across the globe. Tourism also plays an important role in the luxury yacht market, wherein commercial or fleet operators form a significant part of the business. Europe has one of the largest and attractive ports for yachts. The Port of Rotterdam in Netherlands is Europe's largest yacht ports, where about 77 yachts are docked for luxury tourists.
Further, the report states that one challenge in the market is motor luxury yachts have high operational costs. Motor luxury yachts are completely equipped with autopilot mode, ACs, televisions, navigation aids, and radar and echo-sounding systems. To power all the mentioned amenities, these yachts require a reliable power generating system. ICEs that use gasoline and diesel as fuel facilitate the operations of luxury yachts, including powering the aforementioned facilities installed onboard. The ICEs help these luxury yachts run at a speed of up to 70 knots, which use a significant amount of fuel. Therefore, motor luxury yachts, with high fuel costs, are more expensive to operate than sailing luxury yachts. Refueling a large Sunseeker yacht can cost more than $50,000 each time. With a high cost of operation, the commercial use of luxury yachts is challenging, along with private operation being low.
Market Dynamics
Market drivers
- Increase in tourism and recreational events across the globe
- High HNWI population and wealth
- Growing number of luxury marinas
Market challenges
- Motor luxury yachts have high operational costs
- Postponed purchases
Market trends
- Shift toward use of advanced materials in yacht building
- Increasing preference for enhanced technologies to build yachts
- Growing focus on emerging markets
- Tailored experience preference by HNWI population rather than replica
Key Vendors:
- AMELS
- Azimut - Benetti
- Feadship
- ISA Yacht
- Overmarine Group
Other Prominent Vendors:
- Abeking & Rasmussen
- Anastassiades & Tsortanides
- Arcadia Yachts
- Astondoa
- Austral Yachts
- Bilgin
- Bloemsma Van Breemen
- Cammenga
- Canados
- Cantiere delle Marche
- Cantieri di Pisa
- Castagnola
- Chediek
- CNB
- Corsair Marine
- Couach Yachts
- CRN
- Danish Yachts
- De Schepper
- Derecktor
- Falcon Yachts
- Ferretti Group
- Fitzroy Yachts
- Geta Corp
- Green Marine
- Ter Haak Group
- Hakvoort
- Heesen Yachts
- Holland Jachtbouw
- Horizon
- ICON Yachts
- Inace
- Intermarine
- Johnson Yachts
- Kvaerner
- Lloyd's Ship
- Lürssen
- MAG
- Mengi-Yay
- Mondo Marine
- Nautor's Swan
- Neta Marine
- Ortona Navi
- Oyster
- Palmer Johnson
- Palumbo
- Per Mare
- Perini Navi
- Pershing
- Posillipo
- Princess
- Riva
- Rossi Navi
- Royal Huisman
- Sanlorenzo
- Southern Wind
- Sterling
- Steve Ward
- Tecnomar
- Trumpy
- Van Dam Nordia
- Vitters
- Warren Yachts
- Witsen & Vis
For more information about this report visit http://www.researchandmarkets.com/research/qwkt3t/global_luxury
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