Dublin, April 18, 2023 (GLOBE NEWSWIRE) -- 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
In the changed post COVID-19 business landscape, 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.
Super Yacht, one of the segments analyzed in the report, is projected to record a 5.5% CAGR and reach US$4.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Sport Yacht segment is readjusted to a revised 6.2% CAGR for the next 8-year period.
The U.S. Market is Estimated at $2.9 Billion, While China is Forecast to Grow at 6.4% CAGR
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 for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 507 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $9.1 Billion |
| Forecasted Market Value (USD) by 2030 | $13.7 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Leisure Marine Industry amid COVID-19 Pandemic
- Global Yachting Industry Maintains Balance Amid the Storm
- The Road Ahead
- 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
- Growing Number of Newer and Younger Billionaires Add to Growth Prospects
- Developed Regions: Key Revenue Contributors
- Yachting Set to Make Significant Gains in Developing Regions
- China Evolves into Fastest Growing Market for Yachts
- Motor Yachts Dominate the Scenario
- Major Production Hubs
- Competitive Scenario
- 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)
- Baglietto s.p.a
- Azimut Yachts
- Bavaria Yachtbau GmbH
- BENETEAU
- Blohm+Voss Shipyards
- Brunswick Corporation
- Cheoy Lee Shipyards Limited
- Christensen Shipyards Ltd.
- Damen Yachting BV
- Dyna Craft Ltd.
- Feadship
- Ferretti S.p.a
- Fr. Lurssen Werft GmbH & Co. KG
- HanseYachts AG
- Heesen Yachts Sales B.V.
- Horizon Yacht Company
- Kingship Marine Limited
- Oceanco
- Overmarine Group Spa
- Perini Navi S.p.a
- Princess Yachts International Plc
- Sanlorenzo Spa
- Sunseeker International
For more information about this report visit https://www.researchandmarkets.com/r/6kp301
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