Published by Coherent Market Insights
Posted on September 14, 2021
United States/WA: The global superyacht market is estimated to exhibit a CAGR of 5.3% over the forecast period.
Superyacht Market Report, by Yacht Type (Motor Yacht, Sailing Yacht, Others), By Yacht Size (Below 40 Meter, 40-80 Meters, and Above 80 Meters), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
A superyacht or mega yacht is a luxurious and usually fully crewed pleasure ship. The term superyacht is more often than not used by individual owners and may also be used when describing smaller luxury boats that are usually used for private sailboat activities. There are no officially recognized definitions for these boats, but most commonly these terms are used by individual owners to describe highly crewed boats that are designed with many amenities. These boats offer an array of amenities that can make sailing one of the most relaxing experiences of its kind. The length of a mega yacht is based on the gross tonnage, it is able to carry. These ships are able to hold up to 900 tons of fuel, making it the largest yacht on the water. It is also possible for a larger ship to carry as much as one thousand six hundred liters of water and up to two thousand cubic meters of fuel.
Request a sample copy of the report to understand the structure of the complete report:
https://www.coherentmarketinsights.com/insight/request-sample/2333
Market Dynamics
Increasing disposable incomes of individuals are expected to drive the growth of the global superyacht market during the forecast period. According to the Organisation for Economic Co-operation and Development (OECD), the gross disposable income of Germany reached around US$ 43,904 per capita in 2019, increasing from US$ 35,492 per capita in 2015. According to the same source, in 2017, the gross adjusted disposable income in the U.S. was US$ 50,444 per capita increasing from US$ 45,960 per capita in 2014. This, in turn, has increased the expenditure on leisure and recreational activities, thereby accelerating the demand for luxury yachts.
However, high operating and maintenance cost is expected to restrain the growth of the global superyacht market during the forecast period.
COVID-19 Impact Analysis
Similar to other industries and markets, the global superyacht market witnessed a major negative impact due to the COVID-19 pandemic. Globally, the yacht industry was put to a halt due to stringent government restrictions on physical distancing, international travel, and nationwide lockdowns. The majority of the yacht companies faced disturbances in their supply chain activities along with the lack of skilled labor. However, improving circumstances across the globe can help market players regain the lost traction in the near future. Many countries have started easing the restrictions on international travel, which can provide major opportunities for key market players.
Key Takeaways
The global superyacht market is expected to witness growth, exhibiting a CAGR of 5.3% during the forecast period, owing to growing popularity of nautical tourism, increasing the adoption of technologically advanced yachts. For instance, in March 2021, The Tourism Authority of Thailand (TAT) launched the first Digital Yacht Quarantine project where visitors can conveniently complete their 14-day quarantine requirement on a yacht.
On the basis of yacht type, the motor yachts segment is expected to hold a dominant position in the global superyacht market during the forecast period, owing to rising sales of motor superyachts between 60 and 80 meters.
Among regions, Asia Pacific is expected to witness the fastest growth in the global superyacht market during the forecast period, owing to rapid growth of the tourism industry in the region.
Key companies operating in the global superyacht market are Blohm+Voss, Nobiskrug, Holland Jachtbouw, Christensen Shipyards, Lurssen, Nobiskrug, Mulder Shipyards, Royal Huisman, and Oceanco.
Go Through Our Trusted Clients List: https://www.coherentmarketinsights.com/trusted-by
People Also Search For Following Reports:
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post [PDF] Superyacht Market continues to grow as the disposable income of individuals is increasing combined with the rapid growth of the tourism industry appeared first on Gatorledger.
United States/WA: The global superyacht market is estimated to exhibit a CAGR of 5.3% over the forecast period.
Superyacht Market Report, by Yacht Type (Motor Yacht, Sailing Yacht, Others), By Yacht Size (Below 40 Meter, 40-80 Meters, and Above 80 Meters), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
A superyacht or mega yacht is a luxurious and usually fully crewed pleasure ship. The term superyacht is more often than not used by individual owners and may also be used when describing smaller luxury boats that are usually used for private sailboat activities. There are no officially recognized definitions for these boats, but most commonly these terms are used by individual owners to describe highly crewed boats that are designed with many amenities. These boats offer an array of amenities that can make sailing one of the most relaxing experiences of its kind. The length of a mega yacht is based on the gross tonnage, it is able to carry. These ships are able to hold up to 900 tons of fuel, making it the largest yacht on the water. It is also possible for a larger ship to carry as much as one thousand six hundred liters of water and up to two thousand cubic meters of fuel.
Request a sample copy of the report to understand the structure of the complete report:
https://www.coherentmarketinsights.com/insight/request-sample/2333
Market Dynamics
Increasing disposable incomes of individuals are expected to drive the growth of the global superyacht market during the forecast period. According to the Organisation for Economic Co-operation and Development (OECD), the gross disposable income of Germany reached around US$ 43,904 per capita in 2019, increasing from US$ 35,492 per capita in 2015. According to the same source, in 2017, the gross adjusted disposable income in the U.S. was US$ 50,444 per capita increasing from US$ 45,960 per capita in 2014. This, in turn, has increased the expenditure on leisure and recreational activities, thereby accelerating the demand for luxury yachts.
However, high operating and maintenance cost is expected to restrain the growth of the global superyacht market during the forecast period.
COVID-19 Impact Analysis
Similar to other industries and markets, the global superyacht market witnessed a major negative impact due to the COVID-19 pandemic. Globally, the yacht industry was put to a halt due to stringent government restrictions on physical distancing, international travel, and nationwide lockdowns. The majority of the yacht companies faced disturbances in their supply chain activities along with the lack of skilled labor. However, improving circumstances across the globe can help market players regain the lost traction in the near future. Many countries have started easing the restrictions on international travel, which can provide major opportunities for key market players.
Key Takeaways
The global superyacht market is expected to witness growth, exhibiting a CAGR of 5.3% during the forecast period, owing to growing popularity of nautical tourism, increasing the adoption of technologically advanced yachts. For instance, in March 2021, The Tourism Authority of Thailand (TAT) launched the first Digital Yacht Quarantine project where visitors can conveniently complete their 14-day quarantine requirement on a yacht.
On the basis of yacht type, the motor yachts segment is expected to hold a dominant position in the global superyacht market during the forecast period, owing to rising sales of motor superyachts between 60 and 80 meters.
Among regions, Asia Pacific is expected to witness the fastest growth in the global superyacht market during the forecast period, owing to rapid growth of the tourism industry in the region.
Key companies operating in the global superyacht market are Blohm+Voss, Nobiskrug, Holland Jachtbouw, Christensen Shipyards, Lurssen, Nobiskrug, Mulder Shipyards, Royal Huisman, and Oceanco.
Go Through Our Trusted Clients List: https://www.coherentmarketinsights.com/trusted-by
People Also Search For Following Reports:
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post [PDF] Superyacht Market continues to grow as the disposable income of individuals is increasing combined with the rapid growth of the tourism industry appeared first on Gatorledger.
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