Research Report on China Yacht Industry, 2017-2021

Source: http://www.shcri.com/marine/33336-research-report-on-china-yacht-industry-2017-2021.html

The yacht industry and market are in the development stage in China so it is emerging for manufacturers, sales agents and domestic consumers. In recent 20 years, there are numerous yacht manufacturers, component manufacturers, brand sales agents, yacht consumers, clubs and exhibitions in this industry in China. Presently, yacht clubs develop rapidly and pave the foundation for the next rise of yachts. The consumption of fishing boats, sailing ships and leisure crafts with retail prices between CNY 500,000 to CNY 1 million will form an economic scale. The yacht industry is expected to develop rapidly as an entertainment tool in the growing leisure tourism demand with houses and cars in China in the next few years.

According to CRI, the output volume of yachts increased from 29,100 in 2011 to 48,300 in 2015, which presented a good development trend.

Yacht consumers include companies or units and individuals in China. Generally, non-tourism companies purchase yachts for business talks, signing contracts, company activities and parties while tourism ones are for providing consumers with offshore services. In contrast, individual consumers purchase yachts for leisure and recreation while some take it as a representative of the status. In recent years, individual consumers increased for the growth of rich people and the economy in China.