Luxury Yacht Market Global Insights and Trends 2021, Advancement Outlook till 2030

The Global Luxury Yacht Market size was valued at USD 6.58 billion in 2019 and is predicted to reach USD 14.58 billion by 2030, with a CAGR of 7.5% from 2020-2030.

Luxury yacht are sailing or motorized yachts with professionally crewed motor, available for charter as well as private purpose; designed to impart immense luxurious experience and high standard comfort to the consumers. These pleasure vehicles are loaded with luxurious amenities, lavish swimming pools, as well as a variety of gaming, dining, entertainment, and various leisure options.

The usage of composite materials in enhancing the interior aesthetics is gaining momentum in the luxury yacht market due to benefits offered such as low operational cost, enhanced strength to weight characteristics, corrosion resistibility, and higher durability. Moreover, autonomous fuel injection system escalates the efficiency of motor engine and allows engine to operate at variable velocities, reducing vibrations, noise, and emissions.

Access Full Description of this report at:–

https://www.nextmsc.com/report/luxury-yacht-market

Competitive Landscape

The luxury yacht market, which is highly competitive, consists of various market players. Some of the major market players include Damen Shipyards Group, Alexander Marine Co Ltd, Azimut Benetti S.p.A., FERRETTI S.P.A., Feadship, Princess Yachts International plc, Horizon Yacht USA, Sunseeker International Limited, Viking Yacht Company and Sanlorenzo Spa among others.

With the development and deployment of advanced products, and launch of new product technologies equipped with up-to-date features, market players are undergoing various business strategies to sustain their position in the global luxury yacht market.

For instance, Horizon Yacht USA, one of the leading companies in the luxury yacht market, launched its six new yachts at the Biennial Horizon Open House Event held in January 2020, at the company’s facilities in Kaohsiung, Taiwan. Horizon’s new FD75 & FD102 models made their international debuts at this remarkable showcase.

In February 2020, Sunseeker USA Sales Co. Inc., one of the key players in the luxury yacht market, introduced its sunseeker line-up, an exclusive range of luxury motor yachts for the Miami Yacht Show 2020. Along with the US debut of Manhattan 68, five more exquisite Sunseeker models glided their way into stealing the show.

In March 2020, DAMEN, the very well-known company in luxury yacht market, launched its 55-meter yacht support vessel named ‘Blue Ocean.’ This multipurpose yacht support vessel with 4-cabin layout is the first-ever yacht support built with a huge multipurpose main deck hangar, that is configured for a blend of adventure activities and superyacht support functions.

In May 2020, Ferretti Group, one of the key players in the luxury yacht market, announced a $15 million investment for purchasing a service shipyard in Fort Lauderdale, Florida, with an aim to consolidates its presence in the USA. The 4,000 square meters facility comprises of five docks and a combination of indoor and open-air spaces facilitating marine services and deliveries.

Request sample copy of this report at:-

https://www.nextmsc.com/luxury-yacht-market/request-sample

Market Segmentations and Scope of the Study:

The global luxury yacht market share has been analyzed based on size, type, material, and geography.

Based on size, the market is segmented into 75-120 feet, 121-250 feet, and above 250 feet. Based on type, the market is fragmented into sailing luxury yacht, motorized luxury yacht, and others. Based on material, the market is divided into FRP/composites, metal/alloys, and others. Geographic breakdown and analysis of each of the previously mentioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

Europe has been dominating the global luxury yacht market in the recent past and is expected to maintain its dominance throughout the forecast period, owing to increased investments in costal as well as recreational activities, growing trend of water sports and fishing activities in this region. Moreover, well-established tourism industry, presence of attractive destinations, and increasing number of trade shows hosted by key manufacturers present in this region, are further expected to propel the growth of luxury yacht market.

Asia-Pacific region is expected to demonstrate a substantial growth in the global luxury yacht market throughout the forecast period, witnessing the highest CAGR values. This is due to favourable government policies promoting tourism, increasing standards of livings due to growing per capita incomes, and augmentation in marine recreational activities.

Contact:
Phone Number: +1-217-650-7991
E-mail: info@nextmsc.com

About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

For more insights, please visit, https://www.nextmsc.com

This release was published on openPR.