Industry Background:
Italy is a leading producer of yachts. A luxury motor yacht is a luxury crewed. These are privately owned crews which cost between USD 2 million to USD 460 million. It is still considered as the more informal, exhilarating and challenging travel experience. The advancement in the tourism industry in sea offshore regions is creating huge growth potential in the future. There are private yachts who are owned by someone and provide a great lifestyle and more stability. And Charter Yachts are creating huge pay potential because it can be used by anyone and they can pay according to the utilization.This growth is primarily driven by Growing Trend of Adventure Travel, Changing Lifestyle, Increasing Number of Recreational and Leisure Activities and Growing Domestic Income in Emerging Countries.
Globally, a noticeable market trend is evident Luxury Yacht Market Is Exploring the Era of Eco-Consciousness
. Major Manufacturers, such as Ocean Alexander (China), Damen Shipyards Group (Netherlands), Azimut Benetti S.p.A. (Italy), Feadship (Netherlands), FERRETTI S.P.A. (Italy), Horizon Yacht (United States), Princess Yachts International plc (United Kingdom), Sanlorenzo Spa (Italy), Sunseeker International Limited (United Kingdom) and Viking Yacht Company (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In Sep 2019, Lexus is announced to enter in the luxury yacht market. They sell their first luxury yacht on 30th Oct worth of USD 3.6 million. Additionally in 3rd Dec. Damen Shipyards Group and VSTEP Simulation announced the partnership to establish a laboratory to enhance new innovative simulation solutions.
Market Drivers
- Growing Trend of Adventure Travel
- Changing Lifestyle
- Increasing Number of Recreational and Leisure Activities
- Growing Domestic Income in Emerging Countries
Market Trend
- Luxury Yacht Market Is Exploring the Era of Eco-Consciousness
- Rising Concern towards Interior Design
- High Adoption of Internet of Things
Restraints
- High Cost of Production Associated Luxury Motor Yachts
Opportunities
Advancement in the Tourism Industry, Increasing Number of Government Initiatives Including Lower Mooring and Marine Resort Taxes and Technology Advancement in Manufacturing Process
Challenges
Less Number of Manufacturers
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Luxury Motor Yachts Study Sheds Light on
The Luxury Motor Yachts Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Luxury Motor Yachts industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Luxury Motor Yachts industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.