Asia Pacific Luxury Yacht Market Size Cross to Revenue US$ 2,625.9 Million by 2028 | CAGR of 9.5%
IMARC Group has recently released a new research study titled “Asia Pacific Luxury Yacht Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The Asia Pacific luxury yacht market size reached US$ 1,506.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,625.9 Million by 2028, exhibiting a growth rate (CAGR) of 9.5% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
A luxury yacht is a professionally crewed marine vessel used for recreational purposes. It is made from reinforced polymer, wood, and composites and can operate through wind sailing or a propulsion system. It is also equipped with modern style, design, comfort, and technologically advanced components to enhance the overall performance of the yacht and user.
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Asia Pacific Luxury Yacht Market Trends and Drivers:
There is a rise in the demand for marine recreational activities in the Asia Pacific region on account of inflating disposable incomes and improving living standards among individuals. This represents one of the key factors bolstering the growth of the market. Besides this, a significant availability of improved maritime security systems, tracking, and connectivity, is also contributing to market growth in the region. Moreover, leading market players are employing state-of-the-art technology that offers spacious cabins, well-equipped galleys, dining rooms and staterooms, which are embedded with sound and media systems. These innovations are creating a favorable market outlook in the region.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Sailing Luxury Yacht
- Motorized Luxury Yacht
- Others
Breakup by Size:
- 75-120 Feet
- 121-250 Feet
- Above 250 Feet
Breakup by Material:
- FRP/ Composites
- Metal/ Alloys
- Others
Breakup by Application:
- Commercial
- Private
Breakup by Country:
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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