Luxury Motor Yachts Market Scope
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.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | 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) |
CAGR | % |
The global luxury motor yachts market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability. Research Analyst at AMA estimates that Netherland Manufacturers will contribute to the maximum growth of Global Luxury Motor Yachts market throughout the predicted period.
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) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Amels Holland (Netherlands), Heesen Yachts (Netherlands), Lurssen Yachts (Germany), Nobiskrug (Germany) and Fincantieri Yachts (Italy).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Luxury Motor Yachts market by Type and Region with country level break-up.
On the basis of geography, the market of Luxury Motor Yachts has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In January 2024, The International Yacht Company (IYC) has announced the acquisition of Greek Charter Management specialist company, Yachtlove. This acquisition is set to further solidify IYC’s position in the luxury yacht market.
In September 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.
Influencing Trend:
Luxury Yacht Market Is Exploring the Era of Eco-Consciousness, Rising Concern towards Interior Design and High Adoption of Internet of Things
Market Growth Drivers:
Growing Trend of Adventure Travel, Changing Lifestyle, Increasing Number of Recreational and Leisure Activities and Growing Domestic Income in Emerging Countries
Challenges:
Less Number of Manufacturers
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
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Luxury Motor Yachts Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries