Middle East & Africa Luxury Yacht Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Sailing luxury Yacht, Motorized Luxury Yacht, and Others), Material  (FRP/Composites, Metal/Alloys, and Others), and Size (75-120 feet, 121-250 feet, and Above 250 feet)

BMIRE00028327 | Pages: 92 | Automotive and Transportation | Apr 2023 | Type: Regional | Status: Published

The Middle East & Africa luxury yacht market is expected to grow from US$ 306.16 million in 2022 to US$ 481.53 million by 2028. It is estimated to grow at a CAGR of 7.8% from 2022 to 2028.

Implementation of Solar Energy to emerge as new trend for Middle East & Africa Luxury Yacht Market

The growing awareness regarding environmental protection and the need to lower the carbon footprint left behind by the diesel yacht is driving a shift toward luxury yachts operating on green energy. With the increasing demand for luxury yachts running on renewable energy, yacht manufacturers are working on harnessing solar energy to provide electricity to yachts. As most yachts cruise in sunny places, harnessing power from the sun becomes easier. For example, in April 2021, the Sunreef Yachts Eco R&D team produced an in-house solar power system. The system is enabled with the industry’s first composite-integrated photovoltaic technology that uses ultra-thin, shock-resistant, and highly-efficient solar cells.

Many Middle East & Africa luxury yacht market players are implementing solar panels on yachts, making their operations eco-friendly. For instance, in February 2022, ALVA Yachts introduced ECO 60 Explorer electric yachts with solar panels. This new yacht has an expansive roof integrated with solar panels. Further, in March 2022, Zaha Hadid Architects partnered with Rossinavi and designed Oneiric, a luxury yacht that works 100% on solar power. It consists of a solar-paneled roof, making it entirely run on renewable energy. Thus, the rising implementation of green energy in luxury yachts is emerging as a notable trend in the Middle East & Africa luxury yacht market.

Middle East & Africa Luxury Yacht Market Overview

The Middle East & Africa luxury yacht market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The market growth in this region is driven by the growing tourism industry. Large groups of tourists are attracted to Dubai predominantly due to its picturesque coastline and luxury marinas; this has led the city to be a preferred destination for yacht owners, charters, and cruise travelers. Thus, the growing tourism in the UAE can propel the demand for luxury yachts in the market. Similarly, yacht tourism has gained prominence in Qatar, leading to the growing demand for yacht rental services and new yachts in the country.

Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

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Middle East & Africa Luxury Yacht Market Segmentation

The Middle East & Africa luxury yacht market is segmented into type, material, size, and country.

Based on type, the Middle East & Africa luxury yacht market is segmented into sailing luxury yacht, motorized luxury yacht, and others. The motorized luxury yacht segment held the largest share of the Middle East & Africa luxury yacht market in 2022.

Based on material, the Middle East & Africa luxury yacht market is segmented into FRP/composites, metal/alloys, and others. The metal/alloys segment held the largest share of the Middle East & Africa luxury yacht market in 2022.

Based on size, the Middle East & Africa luxury yacht market is segmented into 75-120 feet, 121-250 feet, and Above 250 feet. The 121-250 feet segment held the largest share of the Middle East & Africa luxury yacht market in 2022.

Based on country, the Middle East & Africa luxury yacht market is segmented South Africa, the UAE, Saudi Arabia, and the Rest of Middle East & Africa. The UAE dominated the share of the Middle East & Africa luxury yacht market in 2022.

Azimut Benetti SpA; Damen Shipyards Group NV; Fincantieri SpA; Fr. Lurssen Werft GmbH & Co KG; and Heesen Yachts Sales BV are the leading companies operating in the Middle East & Africa luxury yacht market.

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

2.           Key Takeaways

3.        Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           Middle East & Africa Luxury Yacht Market Landscapes

4.1         Market Overview

4.2         PEST Analysis MEA

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           Middle East & Africa Luxury Yacht Market- Key Market Dynamics

5.1         Market Drivers

5.1.1        Growing Yacht Tourism

5.1.2        Increasing Superyacht Demand

5.2         Key Market Restraints

5.2.1        High Initial Cost and Carbon Footprint

5.3         Key Market Opportunities

5.3.1        Rising Demand in Asia Pacific

5.4         Future Trends

5.4.1        Implementation of Solar Energy

5.5         Impact Analysis of Drivers and Restraints

6.           Luxury Yacht Market– Middle East & Africa Market Analysis

6.1         Middle East & Africa Luxury Yacht Market Global Overview

6.2         Middle East & Africa Luxury Yacht Market Forecast and Analysis

7.           Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 – by Type

7.1         Overview

7.2         Middle East & Africa Luxury Yacht Market, by Type (2021 & 2028)

7.3         Sailing Luxury Yacht

7.3.1        Overview

7.3.2        Sailing Luxury Yacht: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

7.4         Motorized Luxury Yacht

7.4.1        Overview

7.4.2        Motorized Luxury Yacht: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

7.5         Others

7.5.1        Overview

7.5.2        Others: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

8.           Middle East & Africa Luxury Yacht Market Analysis and Forecast to 2028 – by Material

8.1         Overview

8.2         Middle East & Africa Luxury Yacht Market, by Material (2021 & 2028)

8.3         FRP/Composites

8.3.1        Overview

8.3.2        FRP/Composites: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

8.4         Metal/Alloys

8.4.1        Overview

8.4.2        Metal/Alloys: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

8.5         Others

8.5.1        Overview

8.5.2        Others: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

9.           Middle East & Africa Luxury Yacht Market Analysis and Forecast to 2028 – by Size

9.1         Overview

9.2         Middle East & Africa Luxury Yacht Market, by Size (2021 & 2028)

9.3–120 Feet

9.3.1        Overview

9.3.2–120 Feet: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

9.4–250 Feet

9.4.1        Overview

9.4.2–250 Feet: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

9.5         Above 250 Feet

9.5.1        Overview

9.5.2        Above 250 Feet: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

10.        Middle East & Africa Luxury Yacht Market– Country Analysis

10.1      Overview

10.1.1     Middle East & Africa Luxury Yacht Market, by Key Country

10.1.1.1       South Africa: Middle East & Africa Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)

10.1.1.1.1       South Africa: Middle East & Africa Luxury Yacht Market, by Type

10.1.1.1.2       South Africa: Middle East & Africa Luxury Yacht Market, by Material

10.1.1.1.3       South Africa: Middle East & Africa Luxury Yacht Market, by Size

10.1.1.2       Saudi Arabia: Middle East & Africa Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)

10.1.1.2.1       Saudi Arabia: Middle East & Africa Luxury Yacht Market, by Type

10.1.1.2.2       Saudi Arabia: Middle East & Africa Luxury Yacht Market, by Material

10.1.1.2.3       Saudi Arabia: Middle East & Africa Luxury Yacht Market, by Size

10.1.1.3       UAE: Middle East & Africa Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)

10.1.1.3.1       UAE: Middle East & Africa Luxury Yacht Market, by Type

10.1.1.3.2       UAE: Middle East & Africa Luxury Yacht Market, by Material

10.1.1.3.3       UAE: Middle East & Africa Luxury Yacht Market, by Size

10.1.1.4       Rest of Middle East & Africa Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)

10.1.1.4.1       Rest of Middle East & Africa Luxury Yacht Market, by Type

10.1.1.4.2       Rest of Middle East & Africa Luxury Yacht Market, by Material

10.1.1.4.3       Rest of Middle East & Africa Luxury Yacht Market, by Size

11.        Industry Landscape

11.1      Overview

11.2      Market Initiative

11.3      Product Development

12.        Company Profiles

12.1      Fincantieri SpA

12.1.1     Key Facts

12.1.2     Business Description

12.1.3     Products and Services

12.1.4     Financial Overview

12.1.5     SWOT Analysis

12.1.6     Key Developments

12.2      Azimut Benetti SpA

12.2.1     Key Facts

12.2.2     Business Description

12.2.3     Products and Services

12.2.4     Financial Overview

12.2.5     SWOT Analysis

12.2.6     Key Developments

12.3      Heesen Yachts Sales BV

12.3.1     Key Facts

12.3.2     Business Description

12.3.3     Products and Services

12.3.4     Financial Overview

12.3.5     SWOT Analysis

12.3.6     Key Developments

12.4      Fr. Lurssen Werft GmbH & Co KG

12.4.1     Key Facts

12.4.2     Business Description

12.4.3     Products and Services

12.4.4     Financial Overview

12.4.5     SWOT Analysis

12.4.6     Key Developments

12.5      Damen Shipyards Group NV

12.5.1     Key Facts

12.5.2     Business Description

12.5.3     Products and Services

12.5.4     Financial Overview

12.5.5     SWOT Analysis

12.5.6     Key Developments

13.        Appendix

13.1      About The Insight Partners

13.2      Word Index

 

 

LIST OF TABLES

Table 1.             Middle East & Africa Luxury Yacht Market, Revenue and Forecast, 2019–2028 (US$ Million)

Table 2.             Middle East & Africa Luxury Yacht Market, by Key Country – Revenue and Forecast to 2028 (US$ Million)

Table 3.             South Africa: Middle East & Africa Luxury Yacht Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 4.             South Africa: Middle East & Africa Luxury Yacht Market, by Material – Revenue and Forecast to 2028 (US$ Million)

Table 5.             South Africa: Middle East & Africa Luxury Yacht Market, by Size– Revenue and Forecast to 2028 (US$ Million)

Table 6.             Saudi Arabia: Middle East & Africa Luxury Yacht Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 7.             Saudi Arabia: Middle East & Africa Luxury Yacht Market, by Material – Revenue and Forecast to 2028 (US$ Million)

Table 8.             Saudi Arabia: Middle East & Africa Luxury Yacht Market, by Size– Revenue and Forecast to 2028 (US$ Million)

Table 9.             UAE: Middle East & Africa Luxury Yacht Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 10.          UAE: Middle East & Africa Luxury Yacht Market, by Material – Revenue and Forecast to 2028 (US$ Million)

Table 11.          UAE: Middle East & Africa Luxury Yacht Market, by Size– Revenue and Forecast to 2028 (US$ Million)

Table 12.          Rest of Middle East & Africa Luxury Yacht Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 13.          Rest of Middle East & Africa Luxury Yacht Market, by Material – Revenue and Forecast to 2028 (US$ Million)

Table 14.          Rest of Middle East & Africa Luxury Yacht Market, by Size– Revenue and Forecast to 2028 (US$ Million)

Table 15.          List of Abbreviation

 

 

LIST OF FIGURES

Figure 1.           Middle East & Africa Luxury Yacht Market Segmentation

Figure 2.           Middle East & Africa Luxury Yacht Market Segmentation – Country

Figure 3.           Middle East & Africa Luxury Yacht Market Overview

Figure 4.           Middle East & Africa Luxury Yacht Market, by Type

Figure 5.           Middle East & Africa Luxury Yacht Market, by Country

Figure 6.           MEA: PEST Analysis

Figure 7.           Middle East & Africa Luxury Yacht Market Ecosystem Analysis

Figure 8.           Expert Opinion

Figure 9.           Middle East & Africa Luxury Yacht Market: Impact Analysis of Drivers and Restraints

Figure 10.        Middle East & Africa Luxury Yacht Market, Forecast and Analysis (US$ Million)

Figure 11.        Middle East & Africa Luxury Yacht Market Revenue Share, by Type (2021 and 2028)

Figure 12.        Sailing Luxury Yacht: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

Figure 13.        Motorized Luxury Yacht: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

Figure 14.        Others: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

Figure 15.        Middle East & Africa Luxury Yacht Market Revenue Share, by Material (2021 and 2028)

Figure 16.        FRP/Composites: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

Figure 17.        Metal/Alloys: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

Figure 18.        Others: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

Figure 19.        Middle East & Africa Luxury Yacht Market Revenue Share, by Size, (2021 AND 2028)

Figure 20.        –120 Feet: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

Figure 21.        –250 Feet: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

Figure 22.        Above 250 Feet: Middle East & Africa Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

Figure 23.        Middle East & Africa Luxury Yacht Market, by Key Country– Revenue (2021) (US$ Million)

Figure 24.        Middle East & Africa Luxury Yacht Market Revenue Share, by Key Country (2021 and 2028)

Figure 25.        South Africa: Middle East & Africa Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)

Figure 26.        Saudi Arabia: Middle East & Africa Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)

Figure 27.        UAE: Middle East & Africa Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)

Figure 28.        Rest of Middle East & Africa Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)

  1. Azimut Benetti SpA
  2. Damen Shipyards Group NV
  3. Fincantieri SpA
  4. Fr. Lurssen Werft GmbH & Co KG
  5. Heesen Yachts Sales BV
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East & Africa luxury yacht market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in Middle East & Africa luxury yacht market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
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