Global Yachts Market Overview:
Yachts are small to average-sized vessels used for pleasure, vacation, recreation, or sports activities like racing. The most distinct feature that distinguishes yachts from any other boat or vessel is their aesthetics. Yachts are attractive and sleek in appearance, have narrow and streamlined beams, and are often pleasing to the eyes. Growing Wealth and Luxury Interest in Individuals drives the yachts market for the forecasted period.
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High Demand for New and Pre-Owned Yachts and Increase in the Income Level of People Living Around the World
Market Growth Drivers:
Growing Wealth and Luxury Interest in Individuals and Increasing Participation of People in Recreational Activities
Increasing Risks like Injuries from Boating Accidents
High Price of Raw Materials
Technological Innovations Such As Yacht Using ‘3D Additive Printing’ and Demand For Eco-Friendly Boats and Less Environmental Impact
Yachts Market is a fragmented market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Azimut Benetti (Europe), Heesenyachts (Europe), AB Yachts (Europe), Alia Yachts (Turkey), Admiral (Europe), Abeking & Rasmussen Yachts (Germany), Burger Boat Company (United States), CNB Yachts (Europe), Hargrave Custom Yachts (United States) and Lurssen Shipyard (Germany). Considering Market by Sizes, the sub-segment i.e. 10m to 24m will boost the Yachts market. Considering Market by Hull Material, the sub-segment i.e. Aluminium will boost the Yachts market. Considering Market by Yacht Type, the sub-segment i.e. Motor Yachts will boost the Yachts market.
Latest Market Insights:
In July 2019, MarineMax acquired Fraser Yachts from the Azimut Benetti Group. MarineMax expanded its relationship with the Azimut Benetti Group by expanding with Benetti Yachts through a multi-year dealership agreement, becoming the exclusive dealer for Benetti Class yachts in North America.
In February 2023, Heesen Yachts launched its most powerful model. Perfectly tailored to fit the owner's lifestyle, the yacht is the most powerful project Heesen has ever offered, harnessing a whopping 22,000 horsepower at a top speed of 37 knots.
What Can be Explored with the Yachts Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Yachts Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Yachts
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Yachts market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Yachts market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.