[September 06, 2024] The luxury yacht market is projected to grow by USD 5.22 Billion from 2024-2028, driven by rising recreational tourism, AI is reshaping the market landscape – Technavio Tweet NEW YORK, Sept. 6, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global luxury yacht market size is estimated to grow by USD 5.22 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.61% during the forecast period. Increase in recreational tourism is driving market growth, with a trend towards use of advanced materials. However, high cost of operations poses a challenge. Key market players include Alexander Marine International Co Ltd., Azimut Benetti SpA, Christensen Shipyards LLC, Damen Shipyards Group, Feadship Holland BV, FERRETTI SpA, Fincantieri Spa, Fr. Lurssen Werft GmbH, Heesen Yachts Sales BV, Horizon Yacht USA, Next Yacht Group S.r.l, Nobiskrug Yachts GmbH, Oceanco SAM, Overmarine Group Spa, Palmer Johnson, Palumbo Group Spa, Perini Navi Spa, Sanlorenzo Spa, Viking Yacht Co., and Westport Yachts. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period 2024-2028 Base Year 2023 Historic Data 2018 – 2022 Segment Covered Type (Sail yachts and Motor yachts), Application (Commercial and Private), and Geography (Europe, APAC, North America, South America, and Middle East and Africa) Region Covered Europe, APAC, North America, South America, and Middle East and Africa Key companies profiled Alexander Marine International Co Ltd., Azimut Benetti SpA, Christensen Shipyards LLC, Damen Shipyards Group, Feadship Holland BV, FERRETTI SpA, Fincantieri Spa, Fr. Lurssen Werft GmbH, Heesen Yachts Sales BV, Horizon Yacht USA, Next Yacht Group S.r.l, Nobiskrug Yachts GmbH, Oceanco SAM, Overmarine Group Spa, Palmer Johnson, Palumbo Group Spa, Perini Navi Spa, Sanlorenzo Spa, Viking Yacht Co., and Westport Yachts

This trend is expected to continue as the demand for sustainable and environmentally friendly products increases. Another key market trend is the rise of private yacht ownership. This trend is driven by several factors, including the desire for exclusivity, the growing popularity of yachting as a lifestyle, and the increasing availability of financing options.

Please provide a comprehensive text based on this summary. ## Motor Yachts: A Global Perspective

The world of motor yachts has expanded exponentially in recent years, offering a diverse range of options for discerning boaters. From luxurious sail yachts to power-packed vessels, this market caters to a wide array of preferences and budgets.

2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation Type Sail Yachts Motor Yachts Application Commercial Private Geography Europe APAC North America South America Middle East And Africa 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research

Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/the-luxury-yacht-market-is-projected-to-grow-by-usd-5-22-billion-from-2024-2028–driven-by-rising-recreational-tourism-ai-is-reshaping-the-market-landscape—technavio-302240517.html SOURCE Technavio [ Back To TMCnet.com’s Homepage ]