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The United States luxury yacht market is expected to exhibit strong growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Luxury yachts are sailing vehicles that are used for recreational and sports activities. They are generally operated with wind sailing or a propulsion system like an internal combustion engine (ICE) and gas turbine. Luxury yachts are charted or rented by private entities and are accommodated with sophisticated, luxurious, and personalized facilities like a jacuzzi, spa, gymnasium, sauna and sun pads. In the United States, luxury yachts are provided on lease by yacht fleet operators for organizing business meetings, recreational activities and events.
The United States luxury yacht market is primarily driven by the increasing investments in yachts due to the changing lifestyle and growing involvement of people in marine recreational activities. Market players are also equipping luxury yachts with modern designs and technologically advanced components to improve the safety and durability of the boat and enhance the overall performance and user experience. Besides this, high income levels and spending capacities of consumers have escalated the demand for luxury yachts. Furthermore, the utilization of advanced structural materials, such as fiberglass, and the development of customized solutions according to specific requirements of consumers are also contributing to the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the United States luxury yacht market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, type, size, material and application.
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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