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Yacht Global Market Analysis, Trends, Growth, Research And Forecast 2033
Yacht Global Market Analysis
As per the report, the yacht market size has grown strongly in recent years. It will grow from $8.73 billion in 2023 to $9.19 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The yacht market size is expected to see steady growth in the next few years. It will grow to $10.78 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%.
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Rising Demand For Luxury Tourism Catalyzing Growth In The Yacht Market
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. For instance, in 2022, almost 30% of the respondents of a survey agreed that their holiday budgets were higher after COVID and they were looking for luxury travel options. Therefore, the growing demand for luxury tourism and sailing is expected to boost the demand for yachts during the forecast period.
Innovative Product Developments Driving Yacht Market Advancements
Companies in the yacht market are focusing on product innovations and developing new product solutions to strengthen their position in the market. For example, in April 2022, ISA Yachts, an Italy-based brand of Palumbo Superyachts, launched the new ISA Granturismo 45-meter Aria SF. ISA GT 45 has a steel hull and aluminum superstructure and can accommodate up to 10 guests in five large cabins. ISA Gran Turismo 45 is a superyacht with sharp and sporty exterior lines, marked by a plumb bow, with side arches connecting the three decks and a fin-shaped hard top ascribing a light and slim look to the profile.
The yacht market covered in this report 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
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Major companies operating in the yacht market report are Ferretti S.p.A., Sanlorenzo S.p.a., Feadship, Princess Yachts Limited, Fincantieri S.p.A., Fr. Lürssen Werft GmbH & Co.KG, Damen Shipyards Group, Viking Yacht Company, Sunseeker International, Alexander Marine Co. Ltd., Palumbo Group, Shanghai Waigaoqiao Shipbuilding Co. Ltd., Qingdao Captain Marine Co. Ltd., HBM-Huanan Building Materials (Shenzhen) Co. Ltd., COSCO Shipping, Headway Technology Co. Ltd., Star MarinePro Corp Limited, China Shipbuilding Industry Co. Ltd., Azimut Benetti, Christensen Shipyards Ltd, Ferretti, Heesen Yachts, Horizon Yacht, YMCA Yachting, Brunswick Corporation, Ocean Alexander, Quantum Sails, Michael Rybovich & Sons Boatworks, Burger Boat Company, MCP Yachts, Sterling Yachts, Fibrafort, Delta Yachts, Flexboat, Wind, Schaefer Yachts, Alwoplast, Asmar, NEL INGENIERIA, AS Marine, Oryx Yachts, Majesty Yachts, Nomad Yachts, Moonday Yachts, Yerliyurt Marin, Numarine, Robertson & Caine, Falcon Inflatables, Dean Catamarans, Almaroon, De Birs Yachts, Tiger Marine
Contents of the report:
1. Executive Summary
2. Yacht Market Report Structure
3. Yacht Market Trends And Strategies
4. Yacht Market - Macro Economic Scenario
5. Yacht Market Size And Growth
…..
27. Yacht Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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