Studying the Middle East Yacht Market 2017

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Mar 09, 2017, 15:24 ET

LONDON, March. 9, 2017 /PRNewswire/ -- Summary
In 2014, the global yacht charter market was valued at USD 35 billion and is projected to reach USD 51 billion by 2020, growing at a CAGR of 6.5% during the forecast period.Region wise, Eastern Europe is expected to see the largest growth of 7.2% annually with other regions growing at an average rate of 6.5%. The emerging markets including the Middle East and China are expected to continue growing consistently.

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The Middle East yacht market has been experiencing an approximate annual growth of 5-10%. In 2015, new licenses issued for water craft of all types almost doubled, and reached 1,623, as compared to 698 licences the year before. The Middle East is the most important superyacht (40 metres and above) market globally. While conventionally, Western Europe and North America are the major markets for superyachts, the affluence of the Middle East is shifting the industry dynamics towards this region, owing to the larger share of wealthy clientele.

The Middle East is home to almost a third of the more than 200 of the largest yachts in the world, including Azzam, the largest modern day super yacht, owned by Sheikh Khalifa Bin Zayed Al Nahyan. The 30-40 meter yachts have witnessed maximum market growth in this region. Globally the United Arab Emirates ranks in the top 10 superyacht manufacturers. The world's two of the most luxurious superyachts are owned by the President and the Vice President of UAE. The 25th edition of the Dubai International Boat Show will be held between 28 February to 4 March, and industry experts are confident that this will further boost the industry's growth

Why should the report be purchased?
The report 'Studying the Middle East Yacht Market 2017' highlights key drivers of and trends emerging in the global and the Middle East yacht industry. The Initiatives and performance of key players in the including Sunseeker International, Ferretti Group, Azimut Benetti, Princess Yachts International Plc and Gulf Craft Inc.The current market scenario and future prospects of the sector has also been examined.Emerging yacht markets other than the Middle East have been studied as part of this report. The report contains latest industry-related opinions.

Research methodology and delivery time

Smart Research Insights has conducted in depth secondary research to arrive at key insights. Data collected from key public industry sources and publications has been scanned and analyzed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.

The report is available as single-site single-user license. The delivery time for the electronic version of the report is 3 business dayas each copy undergoes thorough quality check and is updated with the most recent information available.The dispatch time for hard copy is 4 business days, as each hard copy is custom printed for the client.
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