- The key vendors in the Luxury Yacht Market in Europe 2015-2019 are Amels, Azimut Benetti, Feadship, ISA Group, Lurssen, Overmarine, Perine Navi Spa and Sunseeker International
London, 03 August 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Luxury Yacht Market in Europe 2015-2019. As the European market is witnessing a slowdown because of postponed purchases and declining economic situations, local yacht makers are shifting their focus to new emerging markets such as China and Latin America. European yacht manufacturers are modifying their product portfolio as per local market demands in order to increase the adoption rate of yachts in these market. The Luxury Yacht Market in Europe 2015-2019 is expected to decline at a CAGR of 3.39% during the forecast period of 2014-2019.
Motor luxury yachts have all modern conveniences, including AC, TV, navigation aid, radar, echo-sounding, and autopilot installed on board. To power all these amenities, luxury yachts require a reliable power generating system.
“Yacht makers are realizing the overall benefits of using carbon fiber in the construction of yachts. Carbon fiber-based yachts are lightweight and are much faster and more fuel efficient compared to aluminum and steel yachts,” says Faisal Ghaus, Vice President of Technavio Research.
“The cost savings that the higher fuel economy provides off-sets the additional manufacturing cost incurred by using carbon fiber.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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