2016: Study of China's Yacht Market

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Study of China's Yacht Market 2016
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Published January 2017 Pages 25 Price US 1000
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Study of China's Yacht Market 2016
Executive Summary The traditional markets, of US
and Europe, have continued to dominate the yacht
industry. As the US recovered from the impact of t
he global recession, an increasing number of
customers from this region regained their interest
in the yachting industry. However, the affluence
of the Middle East is shifting the industry dynami
cs towards this region, owing to the larger
share wealthy clientele. The other key markets
include Brazil and Russia, where the younger
wealthy population has shown an explicit interest
in yachting. While North America is globally the
largest yacht market followed by Europe, China is
the most important emerging yacht market. Even tho
ugh the current Chinese Governments
anti-corruption drive has dampened the market for
luxury goods in China, the yacht industrys
outlook is bright. It is projected that the number
of leisure boats and yachts in the country will
reach 100,000 by 2020 from a mere 3,000 in 2012. T
he market in 2020 will be worth approximately USD
8.16 billion. The China anti-corruption campaign
which commenced in November 2012 hit the industry
and growth slowed down leading to players promotin
g more affordable yacht models to to an
upper-middle-class and high-net-worth as opposed
to ultra-high-net-worth crowd. While larger boats
did not see much growth in sales in 2015-2016,
smaller boats are will maintain the sales
momentum.
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Study of China's Yacht Market 2016
It is estimated that if China makes it more
convenient and attractive to buy yachts then the
market can double to what it currently is by
2020. It is projected that the number of yachts
longer than 8 meters in China will reach 163,510
by of 2030. The yacht industry in China is
projected to grow at a compound average annual
growth rate of 30 in the period 2015-2025 and
the country is expected to become the largest
Asian yacht market over this period.
Why should the report be purchased? The report
A Study of China's Yacht Market 2016 highlights
key drivers of and trends emerging in Chinas yach
t industry. The Initiatives and performance of
key global players including Sunseeker Internation
al, Sanlorenzo SPA, Ferretti Group, Azimut
Benetti, Princess Yachts International Plc., Gulf
Craft Inc., Brunswick Corporation, Sunbird Yacht
Manufacturing Co., Cheoy Lee Shipyards Limited and
Shanghai Double Happiness Yacht Co.has been
presented. The current market scenario and future
prospects of the sector has also been
examined.The report
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Study of China's Yacht Market 2016
Major Points from Table of Contents 1. Global
Yacht Market2. China Yacht Market3. Competitive
Landscape4. Other Asian Yacht Markets5. List of
Charts and Graphs6. Research Methodology For
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Study of China's Yacht Market 2016
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