Lewes, DE -- (SBWIRE) -- 02/06/2017 -- Report forecast the global luxury yacht market to grow at a CAGR of 7.01% during the period 2016-2020.

Luxury yachts include modern convenience features such as air conditioners (ACs), televisions, navigation aids, radars, echo-sounding systems, autopilot facility, and power-generating system. The market is driven by several factors, including rising luxury tourism and recreational events. Yachts are often an extension of a status symbol for the HNWI population. This is because they fall into the ultra-luxury goods category along with luxury cars, watches, and jewelry.

The report covers the present scenario and the growth prospects of the global luxury yacht market for 2016-2020. To calculate the market size, the report includes the major drivers that are influencing the growth of the luxury yacht market.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, one driver in the market is increase in tourism and recreational events across the globe. Tourism is a significant contributor to the economic growth, employment opportunities, and social development across the globe. Tourism also plays an important role in the luxury yacht market, wherein commercial or fleet operators form a significant part of the business. Europe has one of the largest and attractive ports for yachts. The Port of Rotterdam in Netherlands is Europe's largest yacht ports, where about 77 yachts are docked for luxury tourists.

Further, the report states that one challenge in the market is motor luxury yachts have high operational costs. Motor luxury yachts are completely equipped with autopilot mode, ACs, televisions, navigation aids, and radar and echo-sounding systems. To power all the mentioned amenities, these yachts require a reliable power generating system. ICEs that use gasoline and diesel as fuel facilitate the operations of luxury yachts, including powering the aforementioned facilities installed onboard. The ICEs help these luxury yachts run at a speed of up to 70 knots, which use a significant amount of fuel. Therefore, motor luxury yachts, with high fuel costs, are more expensive to operate than sailing luxury yachts. Refueling a large Sunseeker yacht can cost more than $50,000 each time. With a high cost of operation, the commercial use of luxury yachts is challenging, along with private operation being low.

Global Luxury Yacht Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global luxury yacht market: AMELS, Azimut | Benetti, Feadship, ISA Yacht, and Overmarine Group.

Other Prominent Vendors in the market are: Abeking & Rasmussen, Anastassiades & Tsortanides, Arcadia Yachts, Astondoa, Austral Yachts, Bilgin, Bloemsma Van Breemen, Cammenga, Canados, Cantiere delle Marche, Cantieri di Pisa, Castagnola, Chediek, CNB, Corsair Marine, Couach Yachts, CRN, Danish Yachts, De Schepper, Derecktor, Falcon Yachts, Ferretti Group, Fitzroy Yachts, Geta Corp, Green Marine, Ter Haak Group, Hakvoort, Heesen Yachts, Holland Jachtbouw, Horizon, ICON Yachts, Inace, Intermarine, Johnson Yachts, Kvaerner, Lloyd's Ship, Lürssen, MAG, Mengi-Yay, Mondo Marine, Nautor's Swan, Neta Marine, Ortona Navi, Oyster, Palmer Johnson, Palumbo, Per Mare, Perini Navi, Pershing, Posillipo, Princess, Riva, Rossi Navi, Royal Huisman, Sanlorenzo, Southern Wind, Sterling, Steve Ward, Tecnomar, Trumpy, Van Dam Nordia, Vitters, Warren Yachts, and Witsen & Vis.

Market driver
- Increase in tourism and recreational events across the globe.
- For a full, detailed list, view our report

Market challenge
- Motor luxury yachts have high operational costs.
- For a full, detailed list, view our report

Market trend
- Increasing preference for enhanced technologies to build yachts.
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 50 pages and 14 Exhibits "Global Luxury Yacht Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Geographical segmentation, Market drivers, Market challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-luxury-yacht-market-2016-2020

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