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Global Motor Yatch Market – Industry Trends and Forecast to 2031

Automotive

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Global Motor Yatch Market – Industry Trends and Forecast to 2031

  • Automotive
  • Upcoming Report
  • Apr 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Motor Yatch Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 8.96 USD Billion
Diagram Market Size (Forecast Year) USD 20.06 USD Billion
Diagram CAGR %

Major Markets Players

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Global Motor Yatch Market, By Type (Monohull, Multihull),  Application (Personal, Commercial) - Industry Trends and Forecast to 2031.

Motor Yatch Market Analysis and Size

The global motor yacht market encompasses the worldwide trade and activities related to the manufacturing, sale, purchase, chartering, and maintenance of motorized recreational vessels primarily designed for pleasure cruising. This market includes various types of motor yachts, ranging from small recreational boats to large luxury superyachts, along with associated equipment, accessories, and services. Key stakeholders in this market include manufacturers, distributors, dealers, charter companies, marinas, yacht brokers, and service providers. The market is influenced by factors such as economic conditions, consumer preferences, technological advancements, regulatory requirements, and environmental considerations.

Data Bridge Market Research projects that the global motor yatch market, which was valued at USD 8.96 billion in 2023, is expected to reach USD 20.06 billion by 2031, growing at a CAGR of 10.60% during the forecast period 2024-2031. The “monohull” dominate the by type segment of global motor yatch market due to its traditional appeal and established performance characteristics, offering stability, efficiency, and versatility preferred by a wide range of yacht enthusiasts and buyers. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2024

Historic Years

2023 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Type (Monohull, Multihull),  Application (Personal, Commercial)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Market Players Covered

Viking Yachts (U.S.), Vicem Yachts (Turkey), Mulder Shipyard (Netherlands), Motion Yachts (Australia),LOMOcean Design (New Zealand), Hargrave Custom Yachts (U.S.), Absolute North America (Canada), Astondoa (Spain), Azimut (Italy), C-Yacht B.V.(Italy), Burger Boat (U.S.), Absolute Yachts (Italy), Cheoy Lee (Hong Kong), Marlow Explorer (U.S.), Nordhavn (U.S.), Outer Reef Yachts (U.S.), Pedigree Cats (U.S.), Uniesse Marine (Italy), Sunseeker (U.K.), Selene (Taiwan), Tecnomar (Italy), Riviera (Australia)

Market Opportunities

  • Emerging Markets' Rising Interest in Luxury Yachts
  • Technological Advancements Enhancing Yacht Performance and Safety Features
  • Expansion of Yacht Chartering Services Catering to Diverse Consumer Segments

Market Definition

A motor yacht, also known simply as a motorboat or powerboat, is a type of recreational watercraft primarily powered by an internal combustion engine or engines. These vessels are typically designed for leisure cruising, fishing, watersports, and other recreational activities, providing luxurious accommodations and amenities for passengers. Motor yachts vary in size, ranging from small day boats to large, opulent superyachts exceeding 100 feet in length.

Motor Yatch Market Dynamics

Drivers

  • Increasing Disposable Income and Luxury Spending Trends:

With the global economy witnessing growth, particularly in emerging markets, there is a rise in disposable income. This trend encourages consumers to indulge in luxury activities such as yacht ownership, thereby boosting the demand for motor yachts.

  • Growing Popularity of Recreational Boating Activities

Recreational boating is becoming increasingly popular worldwide, driven by the desire for leisure activities and escapism. This trend directly contributes to the demand for motor yachts as a preferred means of luxury leisure travel.

Opportunities

  • Technological Advancements Enhancing Yacht Performance and Safety Features

Continuous advancements in yacht technology, including propulsion systems, navigation aids, and safety features, enhance the overall performance and safety of motor yachts. This not only attracts potential buyers but also ensures customer satisfaction and loyalty.

  • Expansion of Yacht Chartering Services Catering to Diverse Consumer Segments

The expansion of yacht chartering services allows consumers to experience luxury yachting without the need for ownership. This trend caters to diverse consumer segments, including those who prefer occasional yacht experiences over permanent ownership.

Restraints/Challenges

  • Stringent Environmental Regulations Impacting Yacht Manufacturing Processes

Increasing environmental concerns have led to the implementation of stringent regulations governing yacht manufacturing processes, including emissions standards and waste management. Compliance with these regulations poses a challenge for motor yacht manufacturers.

  • Fluctuating Fuel Prices Affecting Operational Costs and Consumer Preferences

Motor yachts typically consume significant amounts of fuel, and fluctuations in fuel prices can significantly impact operational costs for owners. Additionally, consumers may adjust their preferences based on fuel efficiency considerations, presenting a challenge for manufacturers to balance performance with fuel economy.

The market  report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact the Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Development

  • In December 2023, Vicem Yachts has successfully delivered the 29-meter fully customized superyacht, named Empire. The vessel is presently embarking on its inaugural voyage to Australia and is anticipated to make its public debut at the Sanctuary Cove Yacht Show near the Gold Coast in the spring of 2024. Commissioned by an Australian owner, this bespoke build has been crafted in the style of the Vicem Cruiser line, employing a cold-molded composite construction technique. The design draws inspiration from the Vicem 107 line

Motor Yatch Market Scope

The motor yatch market is segmented based on type and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Monohull
  • Multihull

Application

  • Personal
  • Commercial

Motor Yatch Market Region Analysis/Insights

The motor yatch market  is analyzed and market size insights and trends are provided by type, and application referenced above.

The regions covered in market  are North America, South America, Europe, Asia-Pacific, and the Middle East and Africa. The countries covered in Global motor yatch market  report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa.

North America will dominate the global motor yacht market due to several factors. North America has a long-standing tradition of recreational boating and yachting, with a large affluent population that values luxury leisure activities. Additionally, the region boasts extensive coastlines, numerous inland waterways, and a developed infrastructure supporting the yachting industry, including marinas, yacht clubs, and service providers. Moreover, strong economic conditions and high disposable incomes in countries such as the United States contribute to robust demand for motor yachts.

Asia-Pacific region is anticipated to be the fastest-growing region in the global motor yacht market. This growth is fueled by several factors, including rapid urbanization, expanding middle and affluent classes, and increasing wealth accumulation in countries such as China, India, and Southeast Asian nations. As disposable incomes rise in these regions, there is a growing interest in luxury lifestyle pursuits, including recreational boating and yachting.

The region section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.   

Competitive Landscape and Motor Yatch Market Share Analysis

The market  competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to market.

Some of the major players operating in market  are:

  • Viking Yachts (U.S.),
  • Vicem Yachts (Turkey),
  • Mulder Shipyard (Netherlands),
  • Motion Yachts (Australia),
  • LOMOcean Design (New Zealand),
  • Hargrave Custom Yachts (U.S.),
  • Absolute North America (Canada),
  • Astondoa (Spain),
  • Azimut (Italy),
  • C-Yacht B.V.(Italy),
  • Burger Boat (U.S.),
  • Absolute Yachts (Italy),
  • Cheoy Lee (Hong Kong),
  • Marlow Explorer (U.S.),
  • Nordhavn (U.S.),
  • Outer Reef Yachts (U.S.),
  • Pedigree Cats (U.S.),
  • Uniesse Marine (Italy),
  • Sunseeker (U.K.),
  • Selene (Taiwan),
  • Tecnomar (Italy),
  • Riviera (Australia)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Motor Yatch Market size will be worth USD 20.06 billion by 2031.
The Motor Yatch Market growth rate will be 10.60% by 2031.
The Growing Popularity of Recreational Boating Activities, Increasing Disposable Income and Luxury Spending Trends are the growth drivers of the Motor Yatch Market.
The type and application are the factors on which the Motor Yatch Market research is based.
The major companies in the Motor Yatch Market are Viking Yachts (U.S.), Vicem Yachts (Turkey), Mulder Shipyard (Netherlands), Motion Yachts (Australia),LOMOcean Design (New Zealand), Hargrave Custom Yachts (U.S.), Absolute North America (Canada), Astondoa (Spain), Azimut (Italy), C-Yacht B.V.(Italy), Burger Boat (U.S.), Absolute Yachts (Italy), Cheoy Lee (Hong Kong), Marlow Explorer (U.S.), Nordhavn (U.S.), Outer Reef Yachts (U.S.), Pedigree Cats (U.S.), Uniesse Marine (Italy), Sunseeker (U.K.), Selene (Taiwan), Tecnomar (Italy), Riviera (Australia).
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