The Yacht Global Market Report 2023 by The Business Research Company, provides yacht market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
Learn More On The Yacht Market:
https://www.thebusinessresearchcompany.com/report/yacht-global-market-report
According to The Business Research Company’s Yacht Global Market Report 2023, the market size will grow from $8.32 billion in 2022 to $8.91 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global yacht is expected to grow to $11.07 billion in 2027 at a CAGR of 5.6%.
Growing demand for luxury tourism and sailing is expected to propel the demand for the yacht market. Luxury tourism focuses on offering a high level of comfort and quality, with no stress or hassle. It entails an elevated travel experience with minimal annoyance and maximum convenience. The rapid growth in luxury tourism is expected to boost demand for yachts, as they are a key component of luxury tourism for destinations located on the sea coast.
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The yacht market is segmented:
1) By Type: Super Yacht, Flybridge Yacht, Sport Yacht, Long Range Yacht, Other Types
2) By Length: Up to 20 Meters, 20–50 Meters, Above 50 Meters
3) By Propulsion: Motor, Sail
Technological advancement is a key trend gaining popularity in the yacht market. Major yacht companies are focusing on bringing technological advancements to yachts such as electrical power, and hydrogen power with robust engines which have higher horsepower and lighter body weight. These yachts are focused on providing faster commute and comfortable travel. For instance, in November 2020, a New-Zeeland-based premium powerboat building company Herley Boats introduced the new Herley 3400 hybrid catamaran. It is a luxury motor yacht equipped with a hybrid system (two electric drives powering the yacht) with lithium-ion batteries to ensure emission-free and silent propulsion. It is a 100% electric yacht offering an economy cruise with improved fuel efficiency and performance mode for high-speed operation.
The yacht market report table of contents includes:
1. Executive Summary
2. Yacht Market Characteristics
3. Yacht Market Trends And Strategies
4. Yacht Market – Macro Economic Scenario
5. Yacht Market Size And Growth
……….
26. Africa Yacht Market
27. Yacht Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Yacht Market
29. Yacht Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
Azimut Benetti
Brunswick Corporation
Christensen Shipyards Ltd.
Alexander Marine International
Damen Shipyards Group
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