NEW YORK, Dec. 13, 2022 /PRNewswire/ — The luxury yacht market size is forecasted to increase by 366 thousand units from 2022 to 2027, at a CAGR of 11.26%, according to the recent market study by Technavio. The growth of the market will be driven by the increase in recreational tourism, digital marketing, increasing social media use, and the increase in the HNWI population.
Technavio categorizes the global luxury yacht market as a part of the marine market, which covers revenue generated by the companies providing goods and passenger maritime transportation.
Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download the Sample Report
Technavio has extensively analyzed 15 major vendors, including Alexander Marine International, Azimut Benetti SpA, Christensen Shipyards LLC, Damen Shipyards Group, Feadship Holland BV, FERRETTI SpA, Fincantieri Spa, Fr. Lurssen Werft GmbH, Gruppo Fipa Srl, Heesen Yachts Sales BV, Horizon Yacht USA, Nobiskrug Yachts GmbH, Oceanco SAM, Overmarine Group Spa, Palmer Johnson.
Key Benefits for Industry Players & Stakeholders –
The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
Expand operations in the future – To get requisite details, ask for a custom report.
Customer Landscape – Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio
One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
Furthermore, market adoption rates for all regions have been covered.
Download the sample to get a holistic overview of the luxury yacht market by industry experts to evaluate and develop growth strategies.
The market is segmented by type (sail yachts and motor yachts), application (commercial and private), and geography (Europe, APAC, North America, South America, and Middle East and Africa).
Segmentation by Type (Inclusion/Exclusion)
Inclusion:
The sail yachts segment grew gradually by 195 thousand units million in 2017 and continued to grow till 2021. In this segment, the absence of a large engine, increased automation employed in production, and the introduction of fiberglass hulls will keep the prices of luxury sail yachts lower than luxury motor yachts. In addition, these types of yachts feature all possible modern conveniences, such as ACs, television, navigation aids, radar, echo-sounding, autopilot, computer-controlled electric winches for controlling the sails, and a reliable power-generating system. Such factors will increase segment growth during the forecast period.
To get detailed insights about inclusions and exclusions, buy the report.
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The gel coat market is estimated to grow at a CAGR of 6.85% between 2022 and 2026. The size of the market is forecast to increase by USD 540.49 million. The growth of the marine industry and the upcoming yacht project are notably driving the market growth, although factors such as the increased price of gelcoat owing to the rising prices of raw materials may impede the market growth.
What are the key data covered in the luxury yacht market?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the luxury yacht market between 2023 and 2027
Precise estimation of the size of the luxury yacht market size and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the luxury yacht market across APAC, North America, Europe, Middle East and Africa, and South America
Thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of luxury yacht market vendors
Luxury yacht Market Scope
Report Coverage
Details
Page number
154
Base year
2022
Historic Period
2017 -2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 11.26%
Market growth 2023-2027
366 thousand units
Market structure
Fragmented
YoY growth (%)
10.98
Regional analysis
Europe, APAC, North America, South America, and Middle East and Africa
Performing contribution
Europe at 31%
Key countries
US, China, Japan, UK, and Germany
Competitive landscape
Leading companies, Market Positioning of Vendors, Competitive Strategies and Industry Risks
Companies profiled
Alexander Marine International, Azimut Benetti SpA, Christensen Shipyards LLC, Damen Shipyards Group, Feadship Holland BV, FERRETTI SpA, Fincantieri Spa, Fr. Lurssen Werft GmbH, Gruppo Fipa Srl, Heesen Yachts Sales BV, Horizon Yacht USA, Nobiskrug Yachts GmbH, Oceanco SAM, Overmarine Group Spa, Palmer Johnson, Palumbo Group Spa, Perini Navi Spa, Sanlorenzo Spa, Viking Yacht Co., and Westport Yachts
Market Dynamics
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period
Customization preview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global luxury yacht market 2017 – 2021
4.2 Geography Segment Analysis 2017 – 2021
4.3 Type Segment Analysis 2017 – 2021
4.4 Application Segment Analysis 2017 – 2021
4.5 Country Segment Analysis 2017 – 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Type
6.1 Market segments
6.2 Comparison by Type
6.3 Sail yachts – Market size and forecast 2022-2027
6.4 Motor yachts – Market size and forecast 2022-2027
6.5 Market opportunity by Type
7 Market Segmentation by Application
7.1 Market segments
7.2 Comparison by Application
7.3 Commercial – Market size and forecast 2022-2027
7.4 Private – Market size and forecast 2022-2027
7.5 Market opportunity by Application
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 Europe – Market size and forecast 2022-2027
9.4 APAC – Market size and forecast 2022-2027
9.5 North America – Market size and forecast 2022-2027
9.6 South America – Market size and forecast 2022-2027
9.7 Middle East and Africa – Market size and forecast 2022-2027
9.8 US – Market size and forecast 2022-2027
9.9 UK – Market size and forecast 2022-2027
9.10 Germany – Market size and forecast 2022-2027
9.11 China – Market size and forecast 2022-2027
9.12 Japan – Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Alexander Marine International
12.4 Azimut Benetti SpA
12.5 Christensen Shipyards LLC
12.6 Damen Shipyards Group
12.7 Feadship Holland BV
12.8 FERRETTI SpA
12.9 Fr. Lurssen Werft GmbH
12.10 Heesen Yachts Sales BV
12.11 Horizon Yacht USA
12.12 Oceanco SAM
12.13 Overmarine Group Spa
12.14 Palmer Johnson
12.15 Palumbo Group Spa
12.16 Viking Yacht Co.
12.17 Westport Yachts
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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