Global Luxury Yacht Market, 2020 - Research and Markets

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Apr 06, 2017, 13:00 ET

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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Research and Markets
Laura Wood, Senior Manager
[email protected]

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SOURCE Research and Markets