Market outlook and comparative analysis of the global yacht market
The global luxury yacht market witnessed sales of 412 luxury yachts in 2014, and the European market emerged as its largest contributor with revenues close to $2 billion. Europe has been the key market for luxury products primarily because of the high per capita income and large HIN segment among the population. Also, European consumer behavior of ‘advanced life-style’ is a key driver for the luxury yacht market.
Based on propulsion, the market can be categorized into two segments: motor luxury yachts and sailing luxury yachts. In 2014, the motor luxury yachts segment dominated the market. Traditionally, western regions, primarily Europe and North America, have been the key markets for luxury yachts.
Market segmentation of the luxury yacht market by propulsion
Motor yachts constitute the majority of yacht market. Sail propulsion yachts account for a fairly lower share of the overall yacht market. These are largely popular among racing enthusiasts. These are also more eco-friendly than motor yachts, and typically attract environmentally-conscious buyers ultra HNIs.
Market segmentation of the luxury yacht market in Europe by feet size
In terms of unit shipments, the 100-119 feet segment is expected to gain dominance in the luxury yacht market in Europe during the forecast period. By 2019, the segment is expected to account for 26% of the market.
Market analysis of key vendors of the luxury yachts in Europe
Perine Navi Spa
The luxury yacht market in Europe is characterized by the presence of well-diversified international and regional builders. The international builders (both custom and semi-custom) are increasing their footprint, especially regarding features such as quality, technology, and price. The competitive environment in this market is expected to intensify further with an increase in tooling for new models, product/service extensions, and innovations in technology to lure custom boat buyers.
The other prominent vendors of the market include Abeking & Rasmussen, Admiral, Alalunga, Anastassiades, Arcadia Yachts, Arcon Yachts, Astondoa, Austral Yachts, Baltic Yachts, Bilgin, Bloemsma Van Breemen, Boat Speed, Bolero Yachts, Cammenga, Canados, Cantiere delle Marche, Cantieri di Pisa, Castagnola, Chediek, CNB, Corsair, Couach Yachts, CRN, Danish Yachts, De Schepper, Derecktor, Falcon Yachts, Ferretti, Fitzroy Yachts, Geta Corp, Green Marine, Guy Couach, Haak, Hakvoort, Holland Jachtbouw, Horizon, ICON Yachts, and Inace.
Key questions answered in the report
What are the key factors driving the luxury yachts in Europe?
What are the key market trends impacting the growth of the luxury yachts in Europe?
What are the various opportunities and threats faced by the luxury yachts in Europe?
Key outcome of the five forces analysis on the luxury yachts in Europe?
Growth forecast of the luxury yachts in Europe until 2019?
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