Yacht
engine is an internal combustion engine used to power yacht. It is a primary
system for any self-propelled yacht. It is designed to transform one form of
energy into mechanical energy. It supplies power to most kind of generators,
vessels and propulsion system of yacht. It is widely used for personal use,
family outings, recreation sports and fishing. It is usually used in bay areas,
local rivers and other water bodies.
Based
on engine power range, yacht engine market is segmented into 250kw to 600kw,
601kw to1200kw, 1201kw to 3000kw, 3001kw to 7000kw and above 7000kw. Based on
number of cylinder, market is segmented into 4 cylinders, 6 cylinders, 8 cylinders,
others (12 cylinders, 16 cylinders). Based on fuel type, market is segmented
into diesel, gasoline, and hybrid. The
gasoline segment is largely used in smaller sized boats, while diesel is used
in larger boats. Based on the position of engine, market is segmented into
outboard engine and inboard engine. Based on application, market is segmented
into displacement yacht, general yacht, performance yacht and others. In
addition, based on end-use, market is segmented into commonweal, commercial and
others.
The
yacht engine market is driven by increase in utilization & rise in
preference for yachts, followed by surge in demand for leisure services &
activities across the developed nations, growth in number of marine travelers
in both developing and developed nations, rise in inclination of people towards
unique & exotic holiday experiences globally, growth in advancements in
manufacturing highly efficient & light weight yachts engines, increase in
disposable income, expansion in the tourism industry and growth in economies.
However, implementation of stringent regulations on emissions & pollutants
and alternatives such as hovercrafts utilization may impact the market.
Moreover, rise in demand for luxury vessels for instance cruise and yachts,
increase in yacht rides across the globe, and growth in marine tourism are key
opportunities for market. Furthermore, constantly researching & working on
new trendsetting technologies by key market players, high-quality propulsion
systems innovation and increase in installation of dual-fuel engine in yacht
are major trend for market.
Based
on geography, the North-American and European regions dominates the yacht
engine market owing to presence of key yacht engine manufacturers and rise in
number of outboard motorboat sales in the region. Whereas, the Asian-Pacific
regions is estimated to exhibit substantial growth rate due to increase in
number of fishing participants and rise in High-net-worth individual (HNWI)
population over the forecast period. In near future, it is predicted that the
market will be reached at rapid pace on account of increase in usage of yacht
boats for family outings, offshore fishing activities, and adventure boating
during the forecast period.
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