China's Yacht Industry Is Expect to Grow in 2012

May 09, 2012 1:43 AM ET
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Providing industry information, market research, indepth analysis and data from China research and Intelligence. China Research and Intelligence publishes market research reports, industry analytical reports, company reports and industry databases. CRI also provides outsourcing and custom services for research agencies and report readers.

CRI-report: Over a decade ago, in the consciousness of Chinese people, the yachts are the exclusive for the rich and it is out of reach for ordinary people. However, affected by a number of factors, such as the development of the Chinese economy, the rise of the tourism, changes of consumption concepts and so on, the yachts are gradually known by the Chinese consumers currently.

The complete industry chain of the yacht economy is: from yacht research, design, manufacture to the services of the yacht clubs and the yacht-related recreation, tourism and a variety of business activities, including the training and assessment of yacht driving licenses, the construction and management of the dedicated wharf, the yacht repair, the club construction and operation management, the spare parts manufacture, the internal decoration, the professional insurance, etc. according to "Research Report on Chinese Yacht Industry, 2012" published by CRI-report.

Although the international financial crisis causes the global yacht market to shrink since 2008, China's yacht market continues to grow. In 2011, the scale of China's yacht market was about CNY 5.1 billion (USD 440 million), with an increase of about 30% YOY,according to "Research Report on Chinese Yacht Industry, 2012" published by CRI-report. Currently, the scale of China's yacht market is small, but the development prospect is bright.

Viewing from the pattern of China's yacht market, Sunbird has the most comprehensive strength among the local yacht manufacturing enterprises. Through a series of acquisitions, Shanghai Bestway basically builds the industry chain from design, manufacturing to operations. While through the acquisition of Bo Duane and Ferretti, Weichai Power possesses advanced propulsion system and the world's top yacht brands. The yacht construction of CIMC Raffles started in 2000 which entered the market early. In addition, there are still over 100 small-sized yacht manufacturers in China.

In recent years, with the rise of the yacht economy in China, increasing Chinese people, especially urban white-collars begin to learn the yacht culture. The yachts also gradually become tasteful leisure sports and favorable to people and the yacht marine leisure sports become popular. According to the incomplete statistics, by the end of 2011, the number of Chinese yacht clubs was over 100.

With the economic development and the improvement of the purchasing power, the demand of the Chinese market for the yacht shows a rising trend. From the demand structure of the yachts in China, on one hand, because the consumption demand of China's rich people for the luxury goods, including luxury yachts is on the rise, the import volume of luxury yachts keeps increasing; on the other hand, the sales volume of low and medium-level yachts is also rising rapidly, because, after all, the groups who are able to afford the luxury yachts are in the minority and the middle class concerns about the yachts at the low and medium prices.

It is expected that in the next few years, the annual growth rate of China's yacht market will maintain over 20%, according to "Research Report on Chinese Yacht Industry, 2012" published by CRI-report. For manufacturing enterprises, trading enterprises and service enterprises, there are many opportunities.

More following information can be acquired through "Research Report on Chinese Yacht Industry, 2012":

- Development of China's Yacht Manufacturing

- Consumption of China's Yachts

- Import and Export of China's Yacht Industry

- Market of Official Yachts

- Current Situation of China's Yacht Clubs

-Investment Opportunities in China's Yacht Market

-Prediction on Development Trend of China's Yacht Industry

more details, please see:

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