360° Coverage : China Yacht Market Set to Grow at 13% Cagr During 2012-2017 Says...

1 Updates

China Yacht Market Set to Grow at 13% Cagr During 2012-2017 Says TechSci Research

Sep 1 2013, 3:14am CDT | by PR.com

Increasing number of high net worth Individuals, favorable government policies, and low cost of production contributing to the growth of yacht market in China

Burnaby, Canada, September 01, 2013 --(PR.com)-- China is counted among the major yacht manufacturing countries of the world and is witnessing an increase in the number of yacht manufacturing...

Filed under: news

YouTube Videos

 
 
 

1 year ago

China Yacht Market Set to Grow at 13% Cagr During 2012-2017 Says TechSci Research

Sep 1 2013, 3:14am CDT | by PR.com

Increasing number of high net worth Individuals, favorable government policies, and low cost of production contributing to the growth of yacht market in China

Burnaby, Canada, September 01, 2013 --(PR.com)-- China is counted among the major yacht manufacturing countries of the world and is witnessing an increase in the number of yacht manufacturing units, which can be attributed to the low cost of production in the country. The cost of manufacturing yachts in China is 20-30% lower than European and North American countries.

Several foreign players are now manufacturing yachts in China to lower their costs of production. Kingship Marine and Yantai Raffles are some of the key foreign players having manufacturing facilities in China.

The increasing number of high net worth individuals in China is also contributing to the growth of luxury goods market. The demand for yachts in China is growing faster than the global average. The market for yachts is concentrated around southern, eastern and northern China with the southern region accounting for the largest share.

A majority of the yacht manufacturers are located in Qingdao, Yantai, and Weihai in Shandong province and many of the foreign players are located in Shenzhen and Zhuhai.

In China, the demand for small and medium size yachts is higher than large size yachts. Mid- size yachts have contributed the maximum to the growth of the Chinese yacht market. The demand for super yachts in China is quite less, yet they account for a reasonable share in terms of value. The yacht industry in China also provides tremendous growth opportunities for other related industries, such as coatings, new materials, meters, and power & propulsion systems.

The central and the local governments are encouraging the development of yacht industry to promote tourism. The regulations with respect to yacht registration, licensing and sailing were enacted in January 2009, prior to which there were no such regulations.

According to the recently published report of TechSci Research, “China Yacht Market Forecast & Opportunities, 2017,” the market is anticipated to grow at a CAGR of over 13% during 2012-2017. The market is witnessing the entry of new types of yachts, such as solar yachts and hybrid yachts that are expected to contribute to the growing market for yachts in China. The development of yacht clubs is also enhancing the industry’s potential as several yacht clubs and marinas are promoting yachting services.

“Yachting is still a nascent sporting activity in China and it is expected that the development of more yacht clubs and marinas during the forecasted period would drive the market for yachts in China,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

"China Yacht Market Forecast & Opportunities, 2017" has evaluated the future growth potential of China yacht market and provides statistics and information on China’s yacht market structure, and the trends and opportunities in the yacht industry.

The report includes segmental market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities available in China yacht market.

Contact Information:
TechSci Research
Ken Mathews
+1 646 360 1656
Contact via Email
www.techsciresearch.com
2950, Boundary Road,
Burnaby, British Columbia,
Canada – VM5 3Z9

Read the full story here: http://www.pr.com/press-release/513114

Press Release Distributed by PR.com

Source: PR.com

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Chinese company signs Rio 2016 uniform deal
Rio de Janeiro, Oct 23 (IANS) Chinese sports apparel maker 361 will be the official uniform supplier for the Rio 2016 Olympics, the organizers have said.
 
 
Ukraine lacks sufficient gas for winter
Kiev, Oct 23 (IANS) Ukrainian Prime Minister Arseny Yatsenyuk has said his country lacks sufficient natural gas for winter.
 
 
Obama 'cautiously optimistic' about Ebola
Washington, Oct 23 (IANS) President Barack Obama Wednesday said he is "cautiously optimistic" about the Ebola situation in the US, as his government announced a new programme that will actively monitor for 21 days every person coming from West African nations hit by the deadly virus.
 
 
Khamenei wants less reliance on oil
Tehran, Oct 23 (IANS) Iran's Supreme Leader Ayatollah Ali Khamenei called on the country's officials Wednesday to formulate plans to cut Iran's dependence on oil revenues and manage the economy on the basis of the domestic capabilities.
 
 
 

Latest from the Network

European Champions League standings
Paris, Oct 22 (IANS) Following are the European Champions League standings for Groups E to H after Tuesday's matches (tabulated under matches played, won, drawn, lost, goals for, against, points), according to Xinhua...
Read more on Sport Balla
 
Rogerio set to break Giggs world record
Rio de Janeiro, Oct 22 (IANS) Sao Paulo goalkeeper Rogerio Ceni is one victory away from earning his fourth Guinness World Record by eclipsing a mark held by Manchester United legend Ryan Giggs. The 41-year-old will...
Read more on Sport Balla
 
Ryan Reynolds can't keep his hands off Blake Lively
Ryan Reynolds was ''really sweet'' to Blake Lively at the Angel City Ball. The couple, who got married in September 2012, made their first red carpet appearance together in New York City on Monday night (10.20.14) since...
Read more on Celebrity Balla
 
Kris Jenner doesn't know who Bruce Jenner is dating
Kris Jenner has ''no idea'' whether Bruce Jenner is dating her best friend. The 58-year-old reality TV star, who split from the Olympic gold medallist last October after 23 years of marriage, claims she doesn't know if...
Read more on Celebrity Balla
 
When Rihanna dressed like 'Harry Potter'
New York, Oct 22 (IANS) Singer Rihanna was spotted here in a Harry Potter style costume. She wore the wizard-like get-up while heading for a business meal here Monday, reports mirror.co.uk. The 26-year-old combined a...
Read more on Celebrity Balla
 
Germany raises humanitarian aid to Iraq
Berlin, Oct 22 (IANS) Germany has pledged a further 20 million euros (about 25.5 million dollars) in humanitarian aid to Iraq, the foreign ministry said in a statement Tuesday. The additional funds are immediately...
Read more on Politics Balla
 
India calls on Israel, Palestine to resume peace process
United Nations, Oct 22 (IANS) India has called upon Israelis and Palestinians to resume the peace process as "dialogue remains the only viable option" to address the issues confronting the region. In a brief statement...
Read more on Politics Balla
 
Airstrikes help ground forces fight IS: Pentagon
Washington, Oct 22 (IANS) Kurdish forces are in control of the majority of the Syrian city of Kobane despite efforts by the Islamic State (IS) to take the town, a spokesperson for US defence department said Tuesday....
Read more on Politics Balla
 
Palestine, Israel urged at UN to halt unilateral initiatives
United Nations, Oct 22 (IANS) UN Secretary-General Ban Ki- moon Tuesday called on Palestine and Israel to overcome differences and halt unilateral initiatives that fuel mistrust, so as to pursue long-term stability in...
Read more on Politics Balla
 
China urges Israel to create conditions for peace
United Nations, Oct 22 (IANS) Chinese government has called on Israel to create necessary conditions for the resumption of peace talks with Palestine. At an open debate of the Security Council on the situation of the...
Read more on Politics Balla