Pune, India, June 29, 2022 (GLOBE NEWSWIRE) — The global luxury yacht market size is predicted to grow owing to the rise in urbanization across the globe coupled with significant growth in the tourism and recreational sector. Fortune Business Insights has presented this information in its upcoming report titled, “Luxury Yacht, 2022-2029“. Additionally, A luxury yacht is a sailing vessel with the crew that is used in a variety of activities and sports for recreation or leisure. Wind sailing and a propulsion system, such as an ICE (internal combustion engine) & gas turbine, can both be employed for the operation of these yachts.

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COVID-19 Impact:

The tourism and travel industries were severely impacted by the COVID-19 pandemic. The pandemic brought the luxury yacht sector to a halt all around the world. The impact on the industry is evident, as many companies experience supply chain disruptions. The scarcity of skilled workers hampered market expansionThe sector’s stakeholders are considering all possiblities in order to alleviate the crisis. The charter market, on the other hand, is projected to rebound once the coronavirus situation improves.

Segmentation:

On the basis of type, the market is divided into the sailing yacht, motor yacht, and others. On the basis of size, the market is segmented into 50-100 meters, less than 50 meters, more than 150 meters, and 100-150 meters. On the basis of application, the market is bifurcated into private and commercial. Geographically, the market is classified into Asia Pacific, Latin America, North America, Europe, and the Middle East & Africa.

Report Coverage:

The report covers extensive information about the luxury yacht market. Furthermore, the report consists of information on factors such as the region-wise growth of the market, restraining factors, and the drivers. Additionally, it consists of the details on the COVID-19 impact on the marke inclusive of prominent market players employing several stratergies in order to grow their existence in the luxury business that will eventually increase sales and production of the market

Browse Summary of this Research Report: 

https://www.fortunebusinessinsights.com/luxury-yacht-market-105396

Report Scope & Segmentation:

Report Attribute
Details

Base Year
2021

Historical Year
2018 – …

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