DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/cf799b/china_yacht_indust) has announced the addition of the "China Yacht Industry Report, 2010-2012" report to their offering.
China has a mainland coastline and an island coastline of 18 thousand kilometers and 14 thousand kilometers respectively. The sea areas under the jurisdiction of the PRC reach 3 million km2. China also has over 6500 islands and 24800 lakes in total, as well as four major rivers including the Yangtze River, the Yellow River, the Pearl River and the Heilongjiang River, and star-studded inland lakes and reservoirs. The vast and diversified water area definitely provides favorable natural condition for the development of a yacht industry in China.
Chinese Yacht Market:
The developed area is concentrated mainly in the southeast of China, where there are abundant water resources such as inland rivers, lakes and offshore waters. The GDP per capita in coastal developed provinces like Guangdong achieved USD7000, and in first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen GDP per capita has reached USD10000, which all exceeded the threshold for the rapid growth of yacht consumption.
Currently, the yacht manufacturing industry is still in the initial stage of development. There were only less than 400 boat manufacturers in the beginning of the year 2010, wherein, 75 enterprises were mainly engaged in the manufacturing of yachts, and approximately 40 enterprises realized annual sales of over RMB10 million.
International Yacht Brands:
International yacht brands dominate the medium and high-end yacht market in China, such as Ferretti (Italy), Azimut (Italy), Sunseeker (UK), Princess (UK), and Beneteau (France) etc. Most Chinese enterprises focus on the medium and low-end yacht markets. Enterprises including Cheoy LEE, Xiamen Tangrong, and Jet Tern Marine basically focus on export businesses, whereas their domestic business only accounts for a small proportion. At present, merely a few yacht manufacturers concentrate their efforts on developing the domestic market, which include Sunbird and BESTWAY.
Meanwhile, from yacht design to key parts and manufacturing technology, Chinese enterprises have long relied on the resources provided by European and American enterprises. For instance, they hire European and American designers and advanced skilled workers, and purchase yacht engines from the United States. Most enterprises have been engaged in the OEM business, and only a few possess independent R&D strength.
Future Trends:
On the premise of long-term rapid economic development in China, the market size of the Chinese yacht industry has presented significant enlarging trends. In particular, with the rapid development of the large private yacht market, yacht club projects have mushroomed in many places, creating favorable opportunities for the development of the yacht industry in China.
Companies Mentioned:
- Azimut-Benetti
- Bestway
- Brunswick Boat Group
- Cheoy Lee
- Double Happiness Yacht
- Ferretti Group
- Hansheng
- Heysea Yachts
- Jet Tern Marine
- Millennium Marine
- Sea-Stella
- Sunbird
- Sunseeker
- Tangrong
For more information visit http://www.researchandmarkets.com/research/cf799b/china_yacht_indust