Saudi Arabia Yacht Market Assessment, By Type [Catamaran Yacht, Support Yacht, Luxury Yacht, Sports Yacht, Others], By Propulsion System [Sailing Yacht, Motor Yacht, Gulet Yacht (Hybrid)], By Size [Super Yacht, Mega Yacht, Others], By End-use [Commercial, Private], By Sales Channel [Original Equipment Manufacturers (OEMs), Resellers/Distributors and Dealers], By Region, Opportunities, and Forecast, 2016-2030F

The Saudi Arabia Yacht Market is projected to reach USD 721.81 million by 2030 from USD 471 million in 2022 owing to increasing wealth, globalization, and changing lifestyle preferences coupled with upcoming luxury yacht clubs in Saudi Arabia.

Home>Industry Reports>Saudi Arabia Yacht Market Assessment, Opportunities, and Forecast, 2016-2030F

The yacht market has seen steady growth over the past few years due to the increasing demand for luxury yachts in Saudi Arabia. The Saudi Arabia Yacht Market is projected to reach USD 721.81 million by 2030 from USD 471 million in 2022 owing to increasing wealth, globalization, and changing lifestyle preferences coupled with upcoming luxury yacht clubs in Saudi Arabia. Moreover, due to increasing environmental concerns, customization, and low-interest rates, the market is expected to grow at a CAGR of 6.29% for the forecast period between 2023 and 2030. The market has become more environmentally conscious in recent years, with many yacht manufacturers focusing on creating more sustainable and eco-friendly yachts.

Furthermore, many people, especially millennials, are spending on luxury experiences, and yachting offers a distinctive and opulent travel experience that is unmatched by other modes of transportation. With the addition of navigation and communication equipment like GPS, radar, sonar, and satellite communication, many advanced yachts are now more tempting to customers. In addition, government initiatives have also contributed to market growth for instance, in an effort to improve the promotion of tourism, Saudi Arabia has introduced the "Ebhar" platform, a single platform to expedite the entrance, movement, and sailing of tourist yachts around the country. The platform was introduced in February 2023 at the Jeddah Yacht Club by the Saudi minister of transportation and logistics, Saleh Al-Jasser. 

Rich Lifestyles boosts Luxury Yachting 

With more people seeking unique experiences and adventurous lifestyles, yachting has become increasingly popular to explore the oceans and waterways. Additionally, with the benefits of customization and unlimited sailing experience, people consider yacht purchases as an investment opportunity. Therefore, factors such as better economic conditions and rich lifestyles are driving the market for yachts in Saudi Arabia.

Luxury yachting is becoming a popular trend among marine enthusiasts who enjoy cruising along perfect beaches and turquoise waters. In line with this, Saudi Arabia is planning to build a super luxury yacht club on the Red Sea as part of its Vision 2030. The club will be offering multiple resorts, hotels, cabana lounge and pool decks. The first phase of the club is set to be completed in 2024. This initiative will boost the luxury yachting experience over the years.

Growing Interest in Sustainable Yachting 

Sustainable yachting practices are becoming more popular as people become more ecologically aware. As a result, there is now a higher demand for environmentally friendly products including electric propulsion systems and biodegradable cleaning supplies. Yachting has the potential to attain an unmatched level of luxury in a sustainable way with cutting-edge clean technology. Therefore, due to the increasing focus on sustainable products, yacht manufacturers focus on innovative technologies, smart energy management, and green construction to improve the onboarding experience of the customers.

New Upcoming Megacity- NEOM to give a new Lifestyle Experience and Modernized Living

Saudi Arabia’s planned megacity project- NEOM is targeted to be completed by 2030 which will offer a next generation and enhanced liveability experience to the residents and to the commuters, being 95% close to the natural landscape having beaches and mountains together. NEOM’s Sindalah inland is set to become a luxury destination offering beach clubs, golf course, sports club. The Mediterranean Sea will give and easy access to several yachting destinations through the Suez Canal. The destination is set to create a new season for superyachts which is an ideal alternative for yacht owners who want to spend the winter in an easily accessible location.

Impact of COVID-19 on Saudi Arabia Yacht Market

Due to the sudden outbreak of the COVID-19 pandemic, many markets saw several setbacks including the Saudi Arabia yacht market as participation in recreational activities was restricted. Halt in transportation, shortage of raw materials, slowdown of on-site work, and decreased demand for luxurious items have negatively impacted the Saudi Arabia Yacht market. Moreover, the economic slowdown and negative impact on the disposable income of consumers witnessed a major downturn. 

Impact of Russia-Ukraine War on Saudi Arabia Yacht Market

The Russia-Ukraine war has contributed to global economic instability, and it has led to disruptions in trade and investment. This has shown a ripple effect on the Saudi Arabia yacht market, as wealthy individuals have become more cautious about spending money on luxury goods like yachts during uncertain times. Moreover, increasing geopolitical tensions and shift in travel patterns have affected the Saudi Arabia yacht market. Furthermore, supply chain disruptions and the availability of raw materials are considered major challenges for market growth.

Saudi Arabia Yacht Market: Report Scope

Saudi Arabia Yacht Market Assessment, Opportunities, and Forecast, 2016-2030F” is a comprehensive report by Markets and Data, providing in-depth analysis and assessment of the current scenario of the yacht market in the Saudi Arabia, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, COVID-19 impact, and Russia-Ukraine war impact, opportunities, and forecasts (2023-2030). Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Report Attribute

Details

Base Year of the Analysis

2022

Historical Period

2016-2021

Forecast Period

2023-2030

Projected Growth Rate

CAGR of 6.29% from 2023-2030

Units

Revenue in USD million and Volume in Units

Thousands

Segments Covered

Type, Propulsion System, Size, End-use, Sales Channel

Regions Covered

Central, Western, Northern, Eastern, Southern

Key Companies Profiled

Gulf Craft Inc., Samaco Marine & Powersport Pvt. Ltd. (part of the AlNahla Group representing Azimut Yachts), Sanlorenzo S.p.A., Princess Yachts K.S.A, Sunseeker International Limited, Fincantieri S.p.A, Ferretti S.p.A., Heesen Yachts Sales B.V., Austal Limited, X Shore AB

Customization Scope

15% free report customization with purchase

Pricing and Purchase Options

Avail the customized purchase options to fulfil your precise research needs

Delivery Format

PDF and Excel through email (subject to the license purchased)

 

In this report, Saudi Arabia Yacht Market has been segmented into the following categories: 

 

1.       Saudi Arabia Yacht Market, By Type

1.1.    Catamaran Yacht

1.2.    Support Yacht

1.3.    Luxury Yacht

1.4.    Sports Yacht

1.5.    Others

2.       Saudi Arabia Yacht Market, By Propulsion System

2.1.    Sailing Yacht

2.2.    Motor Yacht

2.3.    Gulet Yacht (Hybrid)

3.       Saudi Arabia Yacht Market, By Size

3.1.   Super Yacht (24m and above)

3.2.   Mega Yacht (50m and above)

3.3.   Others

4.       Saudi Arabia Yacht Market, By End-use

4.1.   Commercial

4.2.   Private

5.      Saudi Arabia Yacht Market, By Sales Channel

5.1.   Original Equipment Manufacturers (OEMs)

5.2.   Resellers/Distributors and Dealers

6.       Saudi Arabia Yacht Market, By Region 

6.1.    Central

6.2.    Western

6.3.    Northern

6.4.    Eastern

6.5.    Southern

 

Key Players Landscape and Outlook

 

Manufacturers of yachts opt for different strategies including sophisticated marketing techniques that drive high-end sales. Players focus more on the quality and features of the product. Moreover, to expand the market share and profitability, several businesses are focusing on strategic collaboration projects.

 In April 2023, The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, announced to become a 33% shareholder of Italy’s Megayacht building group Azimut-Benetti which will open new opportunities for the company in Saudi Arabia.

 

Key Players Operating in Saudi Arabia Yacht Market

·         Gulf Craft Inc.

·         Samaco Marine & Powersport Pvt. Ltd. (part of the AlNahla Group representing Azimut Yachts)

·         Sanlorenzo S.p.A.

·         Princess Yachts K.S.A

·         Sunseeker International Limited

·         Fincantieri S.p.A

·         Ferretti S.p.A.

·         Heesen Yachts Sales B.V.

·         Austal Limited

·         X Shore AB

If you can't find what you're searching for or have any custom requirements for Saudi Arabia Yacht Market, you may approach our team at info@marketsandata.com

Table of Content

 

1.       Research Methodology

2.       Project Scope & Definitions

3.       Impact of COVID-19 on Saudi Arabia Yacht Market

4.       Impact of Russia-Ukraine War on Saudi Arabia Yacht Market

5.       Executive Summary

6.       Voice of Customer

6.1.    Product Intelligence

6.2.    Preference of Yacht Manufacturers

6.3.    Factors Considered in Purchase Decision

6.3.1.Price

6.3.2.Purpose/Usage

6.3.3.Yacht Dimensions and Superior Features

6.3.4.Operational and Maintenance Costs

6.3.5.Customisation Options

6.3.6.Resale Options

6.4.    Insurance Services

6.5.    Yacht Maintenance, Repair and Overhaul Services

6.6.    Application of Legal and Safety Compliances

7.        Saudi Arabia Yacht Market Outlook, 2016-2030F

7.1.    Market Size & Forecast

7.1.1.By Value

7.1.2.By Volume

7.2.    By Type

7.2.1.Catamaran Yacht

7.2.2.Support Yacht

7.2.3.Luxury Yacht

7.2.4.Sports Yacht

7.2.5.Others

7.3.    By Propulsion System

7.3.1.Sailing Yacht

7.3.2.Motor Yacht

7.3.3.Gulet Yacht (Hybrid)

7.4.    By Size

7.4.1.       Super Yacht (24m and above)

7.4.2.       Mega Yacht (50m and above)

7.4.3.       Others

7.5.    By End-use

7.5.1.       Commercial

7.5.2.       Private

7.6.   By Sales Channel

7.6.1.       Original Equipment Manufacturers (OEMs)

7.6.2.       Resellers/Distributors and Dealers

7.7.    By Region 

7.7.1.Central

7.7.2.Western

7.7.3.Northern

7.7.4.Eastern

7.7.5.Southern

7.8.    By Company Market Share (%), 2022

8.       Saudi Arabia Yacht Market Mapping, 2022

8.1.    By Type

8.2.    By Propulsion System

8.3.    By Size

8.4.    By End-use

8.5.    By Sales Channel

8.6.    By Region

9.       Macro Environment and Industry Structure

9.1.    Demand and Supply Analysis

9.2.    Import Export Analysis

9.3.    Value Chain Analysis

9.4.    PESTEL Analysis

9.4.1.Political Factors

9.4.2.Economic System

9.4.3.Social Implications

9.4.4.Technological Advancements

9.4.5.Environmental Impacts

9.4.6.Legal Compliances and Regulatory Policies

9.5.    Porter’s Five Force Analysis

9.5.1.Bargaining Power of Suppliers

9.5.2.Bargaining Power of Buyers

9.5.3.Substitution Threat

9.5.4.Threat of New Entrant

9.5.5.Intensity of Competitive Rivalry

10.   Market Dynamics

10.1.                     Growth Drivers

10.2.                     Growth Inhibitors (Challenges and Restraints)

11.   Key Players Landscape

11.1.                     Competition Matrix of Market Leaders

11.2.                     Market Revenue Analysis of Market Leaders (in %, 2022)

11.3.                     Mergers & Acquisitions/ Joint Ventures (If Applicable)

11.4.                     SWOT Analysis (Top Five Market Players)

11.5.                     Patent Analysis (If Applicable)

12.   Pricing Analysis

13.   Case Studies

14.   Key Players Outlook

14.1.                     Gulf Craft Inc.

14.1.1.    Company Details

14.1.2.    Key Management Personnel

14.1.3.    Products & Services

14.1.4.    Key Market Focus & Geographical Presence

14.1.5.    Financials (As Reported)

14.1.6.    Recent Developments

14.2.                     Samaco Marine & Powersport Pvt. Ltd. (part of the AlNahla Group representing Azimut Yachts)

14.3.                     Sanlorenzo S.p.A.

14.4.                     Princess Yachts K.S.A

14.5.                     Sunseeker International Limited

14.6.                     Fincantieri S.p.A

14.7.                     Ferretti S.p.A.

14.8.                     Heesen Yachts Sales B.V.

14.9.                     Austal Limited

14.10.                  X Shore AB

 *Companies mentioned above DO NOT hold any order as per market share and can be changed during course of work

15.   Strategic Recommendations

16.   About Us & Disclaimer

List of Figure_Saudi Arabia Yacht Market

 

Figure 1. Saudi Arabia Yacht Market, By Value, In USD Billion, 2016 - 2030F

Figure 2. Saudi Arabia Yacht Market, By Volume, In Units Thousands, 2016 - 2030F

Figure 3. Saudi Arabia Yacht Market Share, By Type, In USD Billion, 2016 - 2030F

Figure 4. Saudi Arabia Yacht Market Share, By Type, In Units Thousands, 2016 - 2030F

Figure 5. Saudi Arabia Yacht Market Share, By Propulsion System, In USD Billion, 2016 - 2030F

Figure 6. Saudi Arabia Yacht Market Share, By Propulsion System, In Units Thousands, 2016 - 2030F

Figure 7. Saudi Arabia Yacht Market Share, By Size, In USD Billion, 2016 - 2030F

Figure 8. Saudi Arabia Yacht Market Share, By Size, In Units Thousands, 2016 - 2030F

Figure 9. Saudi Arabia Yacht Market Share, By End-use, In USD Billion, 2016 - 2030F

Figure 10. Saudi Arabia Yacht Market Share, By End-use, In Units Thousands, 2016 - 2030F

Figure 11. Saudi Arabia Yacht Market Share, By Sales Channel, In USD Billion, 2016 - 2030F

Figure 12. Saudi Arabia Yacht Market Share, By Sales Channel, In Units Thousands, 2016 - 2030F

Figure 13. Saudi Arabia Yacht Market Share, By Region, In USD Billion, 2016 - 2030F

Figure 14. Saudi Arabia Yacht Market Share, By Region, In Units Thousands, 2016 - 2030F

Figure 15. By Type Map-Market Size (USD Billion) & Growth Rate (%), 2022

Figure 16. By Propulsion system Map-Market Size (USD Billion) & Growth Rate (%), 2022

Figure 17. By Size Map-Market Size (USD Billion) & Growth Rate (%), 2022

Figure 18. By End-use Map-Market Size (USD Billion) & Growth Rate (%), 2022

Figure 19. By Sales Channel Map-Market Size (USD Billion) & Growth Rate (%), 2022

Figure 20. By Region Map-Market Size (USD Billion) & Growth Rate (%), 2022

 

List of Table_Saudi Arabia Yacht Market  

      

Table 1. Pricing Analysis of Products from Key Players

Table 2. Competition Matrix of Top 5 Market Leaders

Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)

Table 4. About Us - Regions and Countries Where We Have Executed Client Projects

What is the current and future market size of the Saudi Arabia Yacht Market?

arrowup
Heart

Japan Artificial Intelligence Market Assessment, Opportunities, and Forecast, FY2017-FY2031F

Japan's Artificial Intelligence market has been witnessing notable progress. The Japan Artificial Intelligence market is estimated to achieve a value of USD 15.84 billion by the fiscal year 2031, showing substantial growth from USD 5.95 billion in FY....Read More

Published on

December 2023

3,300

Heart

Vietnam Commercial Vehicle Market Assessment, Opportunities and Forecast, 2016-2030F

Vietnam Commercial Vehicle Market size was valued at USD 3.07 billion in 2022 which is expected to reach USD 5.84 billion in 2030 with a CAGR of 8.37% for the forecast period between 2023 and 2030. ....Read More

Published on

December 2023

3,300

Heart

Japan Internet of Things Market Assessment, Opportunities and Forecast, FY2017-FY2031

Japan Internet of Things Market size is valued at USD 11.71 billion in FY2023, expected to reach USD 50.08 billion in FY2031 with a CAGR of 19.92% for the forecast period between FY2024 and FY2031.....Read More

Published on

December 2023

3,300

Heart

Japan Ready-To-Eat Food Market Assessment, Opportunities, and Forecast, FY2017-FY2031F

Japan Ready-To-Eat Food Market is expected to witness a CAGR of 4.03% during the forecast period FY2024-FY2031. The market was valued at USD 8.14 billion in FY2023 and is anticipated to reach USD 11.17 billion by FY2031.....Read More

Published on

December 2023

3,300

Purchase Options

USD ($)

arrowdown

i

2,000

i

3,300

i

4,500

i

7,000

Tired of Searching?

Looking for Customization?

Some other doubt?

Need insights from a cohort?

REACH US

    icon_Five
    17, Okhla Industrial Estate Phase 3 Rd, Okhla Phase III, Okhla Industrial Estate, New Delhi, Delhi 110020
    call_Two
    +91 11 42343567
    icon_Six
    info@marketsandata.com
icon_Seven
5741 Cleveland street, Suite 120, VA beach, VA, USA 23462
call_Three
+1 (757) 343-3258
icon_Eight
190 Middle Road, # 14-10 Fortune Centre, Singapore -188979