- Report ID: BMRC 119 | Number of pages: 200 | Publish Date: Dec 2019
Status: Published | Category: Automotive And Transport | Delivery Timeline:
Superyacht Market was valued at USD 12018.87 Million in 2018 and is projected to reach around USD 29361.60 Million by 2025, at a CAGR of XX% during the forecast period. The base year considered for the study is 2018 and the forecast period is 2019-2025. The demand for superyacht in leisure & entertainment, water sports by rich customers is the major driving factor for superyacht market
Scope of Global Superyacht Market Reports –
Superyachts are like regular yachts but bigger and therefore more expensive. A superyacht also known as luxury yacht or megayacht is a commercially operated professionally crewed sailing or motor yacht that has a loadline length of 24 metres and above. Approximately there are more than 4476 superyachts in the world of which a quarter are available for charter. Sales of these luxury yacht vessels are way up every year, nearly 300 superyachts were sold in 2018 compared to 249 such sold in 2017. Growing ultra-high net worth households, adventure enthusiasts, anticipation of privacy and leisure activities are influencing positive growth of global superyacht market.
Global superyacht market is segmented on the basis of yacht type, yacht size and region. On the basis of yacht type the superyacht market is segmented in to motor yacht, sailing yacht and others. On the basis of yacht size, the market is segmented in to below 40-meter, 40-80 meter and above 80 meters.
The regions covered in this superyacht market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Superyacht is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Growing demand of luxury cruising among rich and super rich individuals mainly in developing and developed countries. Sub 50-metre yacht segment is sold in highest numbers which is approximately 80% of new superyachts sold in 2017. However, sales of large yachts over 80-meters decreased in 2017. Among type of yachts, highest number of motor yachts are sold followed by sailing yachts. The superyachts are also in demand due to increasing interest in marine tourism, water-based sports and leisure activities. Also, these superyachts are used for travelling through sea from one destination to other by many rich people which propels the market to grow. Solar powered yachts are innovated recently in superyacht industry which creates opportunity for this market. The main restraining factor for superyacht market is the high cost of the yachts which can only be afforded by super rich customers.
North America is dominating the superyacht market with largest share and expected to maintain its position in forecast period due to presence of major yacht’s manufacturers, increasing demand of motor superyachts for water sports and leisure activities and presence of super rich families. As of 2018, USA has largest number of superyacht owners which is about 407 yachts. Europe is the second largest in superyacht market with many superyacht ownerships among countries like Russia, Greece and UK due to increasing water sports activity, and marine tourism. As for Asia Pacific, it is the fastest growing region in global superyacht market due to growing economy, rising adoption of high standard of living and growing travel & tourism sector. As for Middle east and African region the market will have moderate growth due to presence of rich countries like Saudi Arabia.
By Yacht Type: motor yacht, sailing yacht, others
By Yacht Size - below 40 meters, 40-80 meters, above 80 meters
North America, US, Mexico, Chily, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, South Korea, Japan, India, Southeast Asia, Latin America, Brazil, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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Superyacht Market By Yacht Type (motor yacht, sailing yacht), By Yacht Size (below 40 meters, 40-80 meters, above 80 meters), Industry Analysis, Trends, and Forecast 2019