SHERIDAN, WY, USA, November 17, 2021 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Luxury Yacht Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global luxury yacht market reached a value of US$ 7.3 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 8.3% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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A luxury yacht is a crewed sailing watercraft, primarily used for recreational activities and sports. It is operated through wind sailing or by a propulsion system, including internal combustion engine and gas turbine. Luxury yachts are manufactured using various materials, such as steel, aluminum, fiberglass, wood, carbon fiber, treated wood, etc. They are generally charted or rented by private entities and accommodated with sophisticated, luxurious, and personalized facilities, such as a jacuzzi spa, gymnasium, sauna, and sun pads. Luxury yachts are also equipped with technologically advanced components to enhance the overall performance of the yacht.
Market Trends and Demand:
Rapid urbanization, coupled with significant growth in the recreational tourism sector, is primarily driving the luxury yacht market growth. Furthermore, luxury yachts are provided on lease by yacht fleet operators for organizing business meetings, recreational activities and events, thereby propelling the global market. Additionally, the wide utilization of innovative construction materials, along with the growing adoption of customized solutions to fulfill the specific needs of the customer, is also augmenting the market growth. The rising environmental concerns are catalyzing the demand for fuel-efficient and lightweight product variants, which are further expected to drive the market for luxury yachts in the coming years.
Luxury Yacht Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the luxury yacht market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Horizon Yacht USA
Fincantieri S.p.A. (CDP Industria S.p.A.)
Heesen Yachts Sales B.V
Feadship Holland B.V.
Princess Yachts Limited
Viking Yacht Company
Azimut – Benetti S.P.A.
Alexander Marine International
Key Market Segmentation:
The report has segmented the global luxury yacht market on the basis of type, size, material, application and region.
Breakup by Type:
Sailing Luxury Yacht
Motorized Luxury Yacht
Breakup by Size:
Above 250 Feet
Breakup by Material:
Breakup by Application:
Breakup by Region:
Middle East and Africa
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Key Highlights of the Report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, and nanotechnology industries. We also provide cost model and manufacturing setup project reports through Syndicated Analytics, a subsidiary of IMARC Group.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Source: EIN Presswire