Impact Of Government Policies In Tourism Sector Drives The Growth On Global Yacht Market

Global yacht market is anticipated to grow at a exponential CAGR of 29.4% during the forecast period (2024-2031).  Yacht is a kind of advanced durable consumer goods for water entertainment. It integrates navigation, sports, entertainment, leisure and other functions to meet the needs of individuals and families to enjoy life. Asia Pacific is expected to be the fastest growing regional market. Increasing disposable income and rising standard of living are the key factors leading to the change in the preference of people in the region towards yachting. 

Browse the full report description of “Yacht Market Size, Share & Trends Analysis Report by Type (Sports, Cruiser, Flybridge, Motor, Super and Long Range), by Size (up to 50, 50 to 100 and above 100 Meters), and by Application (Personal and Commercial Use) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/yacht-market

Moreover, government initiatives to develop tourism activities are expected to contribute to the growth of the market in the region. Europe accounted for the largest market share. Increasing number of high net-worth individuals and adoption of technologically advanced yachts are the key factors driving the growth of new yacht sales in the region. Rising disposable income of individuals and their preference for leisure or recreational activities. Growing preference of travelers for luxury travel, personalized services, and exclusive trips are the major factors driving yacht sales. Manufacturers are focusing on including luxury features to provide improved performance characteristics and customer experience. This is expected to drive the market.

In 2020, the U.S.A was the country with the largest number of yachts that docked there: 216. Then followed Italy, Spain, France, and Greece

Data Source: internationalwealth.info

Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

• Segment Covered- 

o By Type

o By Size

o By Application

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- includesAzimut Benetti S.p.A., Alexander Marine International Co. Ltd., Dalian Wanda Group, Damen Shipyards Group and among others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Yacht Market Report Segment

By Type

• Sports 
• Cruiser
• Flybridge
• Motor
• Super
• Long Range

By Size

• Upto 50 Meters
• 50 to 100 Meters
• Above 100 Meters

By Application

• Personal Use
• Commercial Use

Global Yacht Market Report Segment by Region

North America

• United States

• Canada

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• The Middle East & Africa

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