GLOBAL SUPERYACHT MARKET
- The global superyacht(inboard yachts >24m in length) fleet has tripled in past twenty years from ~2,000 in 1999 to 6,000 in 2019.
- Global revenue from refurnishing superyachts was $430M in 2018 and 42 meters superyachts accounted for highest share
- The demographic shift to younger generation now warrants an open boat where people on-board car spend more time outdoors, on dinghi/PWC and in the water
- Italy is world`s biggest producer of superyachts. Italy based Benetti and Ferreti have the biggest orderbook and accounted for ~25% cumulative market share in 2018.
- As the superyachts are getting larger and larger,there is a much larger space now made available for wellness( gyms and spas)World leader Benetti is now expanding in the gigayacht(>100m) category
- The yacht brokerage companies are now focussing on the >40m category where ownership period has been declining
A superyacht owner spend 10-12% of the cost of the yacht annually to operate, including maintenance and repair.Therefore, policies related to higher and cross utilization of superyacht across countries could be a welcome move. Australia has recently taken a step in this direction.
The Australian Government will introduce the Special Recreational Vessels Bill 2019, allowing foreign-owned and flagged super yachts to charter in Australia. It is estimated to generate ~$1.5 Billion to the Australian economy.
MARKET SIZE AND FORECAST
Mediterranean has remained the most popular cruising region globally but now as more tourists explore South Est Asia, there is a growing charter market for superyachts in the Thailand-Malayasia-Indonesia coastal region.But, the infrastructure to service and operate superyachts in this region is not that well developed.
30-40 Meter superyachts account for a significant share of global superyacht PARC as well has under construction order-book.But, >40M segment has been growing at a much faster rate for past 5 years.About 70% of global superyachts in production are built in Italy.
The >100M ( gigayacht) category is still very niche and till date there are less than 60 gigayachts in existence or less than 1% of global superyacht fleet.
US is although the world`s biggest boat market has very limited superyacht building industry
More than 80% superyachts in operation are motor powered and the remaining are sail powered.About ~20-25% of superyachts in production are sailboats and the remaining are motorboats.
Below 60 metres, , Italy is the number one superyacht manufacturing country with around 50% global production share.
The global superyacht market is estimated at $XXB annually.
NEW PRODUCT DEVELOPMENT
Jan 2020- Horizon yachts announced the launch of a new 30metre RP100 model, powered by twin twin CATERPILLAR C32 Acert engine with a range of a range of 1,300 nautical miles @ 10 knots
Jan 2020– Chinese hysea yachts launched 35 metre was launched, Key features include high ceilings of up to 2.3 Metres. It is powered by twin CATERPILLAR C32 diesel engines with a range of a range of 2,000 nautical miles @ 10 knots
Dec 2019– Construction on the first unit of the 37 Metre yacht Majesty is due for completion in March 2020. All onboard equipment will be 100% electrically powered but engines and generators will be diesel powered
Dec 2019– Feadship launched a new 75 Metre motor yacht which is due for delivery in late Jan-2020
Dec 2019-Viareggio-based shipyard Permare launched its ~30 Metre Amer F100 yacht. It is powered by four Volvo Penta engines of 1,200hp each
Dec 2019– Construction of the second hull of the second 42 Metre Perini Navi E-Volution sloop sailing yacht started in Istanbul. It can reach top speed of 12 knots and cruising speed of 10 knots, total range is estimated at 3,200 nautical miles.
Nov 2019- Sanlorenzo SL 102 is presently under construction and scheduled for delivery in April 2020. It is powered by Twin MTU engines with a combined 4,868hp to reach top speed of 28 knots
Aug 2019– Palumbo Superyachts launched a 29 Metre superyacht called Ohana has three Volvo Penta IPS engines with a combined output of 3,000hp, which powers the yacht to cruise comfortably at 15 knots and reach a top speed of 18.5 knots.
The superyacht market competitive landscape is highly concentrated among few European and Asian players.Italy based Sanlorenzo, Feretti and Azimut-Benetti are among the top 3 superyacht builders globally. Taiwan based Horizon yachts( 92 yachts built till date) and Ocean Alexander(45 yachts delivered till date) are among the leadign players from Asia.
The yacht charter business is evolving rapidly in Europe and the market leader Azimut Benetti has already launched low cost ownership schemes and charter initiatives such as the Azimut Charter Club to reduce costs for the owners. Benetti is also working with Siemens on a hybrid propulsion powertrain for superyachts with 30-40M length application
- Azimut-Benetti Group
- Feretti Group
- Gulf Craft
- Torquoise yacht
- Horizon Yachts
- The Italian Sea Group
- Heesen yachts
- Princess yachts
- Lynx yachts
- Ocean Alexander
- Custom Line Yachts
THIS REPORT WILL ANSWER THE FOLLOWING QUESTIONS
- Market Size and Forecast of superyacht market, by region, by price and by length(Volume and Value)
- Market Trends,risks, drivers and opportunities in global superyacht market
- Market share of superyacht manufacturers and engine suppliers
- Opportunity for solar module and battery manufacturers, kitchen equipment, telematics, sail fabric suppliers
- Growth strategy of superyacht manufacturers and opportunity in charter market