Sailing Yacht Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON , UK, August 30, 2024 /EINPresswire.com/ -- The global sailing yacht market is expected to expand significantly, increasing from $3.23 billion in 2023 to $3.44 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. Despite recent economic challenges, the market is projected to reach $4.42 billion by 2028 at a compound annual growth rate (CAGR) of 6.5%, driven by the rising popularity of luxury recreational activities, the booming tourism industry, and increasing disposable income in emerging markets.
Rising Tourism Boosts Growth of the Sailing Yacht Market
The surge in global tourism is a key driver of growth in the sailing yacht market. Tourism, bolstered by improved transportation infrastructure, economic growth, and heightened marketing efforts, has fueled demand for unique travel experiences, including sailing. Sailing yachts offer the perfect blend of adventure and luxury, allowing tourists to explore remote destinations. For instance, according to the Croatian Bureau of Statistics, Croatia saw a significant increase in tourist arrivals and overnight stays in 2022, indicating the growing appeal of maritime tourism.
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Sailing Yacht Market Key Players and Market InnovationsLeading companies in the sailing yacht market, such as Sabre Yachts Corporation, Ferretti S.p.A., and Sunseeker, are focusing on technological advancements to stay competitive. Innovations like eFoiler technology are revolutionizing the industry by improving speed and efficiency. Artemis Technologies, for instance, has introduced an electric foiling system that reduces drag and increases speed, marking a significant step towards sustainable maritime operations.
Sailing Yacht Market Segments:• By Type: Non-Powered Yachts, Motor Yachts• By Propulsion Technology: Fixed Pitch Propulsion, Variable Pitch Propulsion, Folding Propulsion• By Application: Private Use, Commercial Use, Special Use
Regional Insights: Europe Leads the MarketEurope was the largest region in the sailing yacht market in 2023, driven by the region's strong maritime culture and high disposable income levels. The region is expected to maintain its leadership position, with significant growth in coastal real estate development and luxury tourism contributing to market expansion.
Access the complete report for an in-depth analysis of the global sailing yacht market:https://www.thebusinessresearchcompany.com/report/sailing-yacht-global-market-report
Sailing Yatch Global Market Report 2024 from The Business Research Company covers the following information:•Market size data for the forecast period: Historical and Future•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Sailing Yatch Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on sailing yacht market size, sailing yacht market drivers and trends, sailing yacht market major players, sailing yacht competitors' revenues, sailing yacht market positioning, and sailing yacht growth across geographies. The sailing yacht report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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August 30, 2024, 13:15 GMT
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