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Sedan bridge boats are basically same as a sportfishing yacht, but without the installation of the fishing part. Meaning the tuna lookout tower and fishing amenities have been exchanged for more deck space and individual comforts, like a swim platform. A helm in the cabin as well as on the fly bridge above give driving options for sunny or rainy days. They have ample living accommodations, including an electrical generator, AC and plumbing. Sedan bridge boats are certainly not made for speed, but they are made for entertaining and taking long trips. These small yachts have enough rooms and amenities, like a bathroom and a cooking area, to be live aboard boats. In fact, some people say they are one step away from being houseboats, in sedan bridge boats there is a cockpit, living spaces, and the fly bridge is like a balcony.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2020–2030 |
Base year considered | 2020 |
Forecast period | 2021–2030 |
Forecast units | Value (USD) |
Segments covered | Application, Size, Material, and Region |
Regions covered | North America (U.S., Canada and Mexico), Europe (Germany, U.K, France, Russia and rest of Europe), Asia-Pacific (China, Japan, India, South Korea and rest of Asia-Pacific), LAMEA (Latin America, Middle East and Africa) |
Companies covered | Alexander Marine Co Ltd, Damen Shipyards Group, Azimut Benetti S.p.A., Feadship, FERRETTI S.P.A., Horizon Yacht USA, Princess Yachts International plc, Sanlorenzo Spa, Sunseeker International Limited, and Viking Yacht Company. |
COVID-19 Impact analysis
The COVID-19 has taken a toll on the tourism sector worldwide with complete restrictions imposed on international travel. The entire supply chain was disrupted in the first two quarters of 2020 with several manufacturing plants closed and businesses experiencing a labor shortage. The COVID-19 also had an impact on the exports and imports leading to the shortage of equipment and sub-assemblies required for boat building. This consequently led to significant waiting times for new customers as manufacturers were focused on ensuring the product deliveries of pending orders. Along with the sales of boats, the revenue generated through services also took a hit as small third-party vendors had to shun their businesses due to the financial crisis arising out of lockdown restrictions. However, the gradual movement toward re-opening the economies, coupled with the prolonged restrictions on the movement of people, has resulted in developing an urge among the individuals to indulge themselves in recreational activities. Therefore, the market is anticipated to recover slowly over the forecast period.
Top Impacting Factors
The sedan bridge boat trends are as follows:
Recreational boating activities
Recreational boating activities are gaining popularity among tourists owing to the increasing number of boating events and trade shows hosted in different parts of the world. The growth in marine and coastal tourism has significantly attracted tourists from numerous countries across Europe and North America. Additionally, Asia Pacific countries such as China and Australia are witnessing new growth opportunities in the market owing to the increasing per capita income of people in these countries. The rising demand for recreational boating in countries, including Japan, China, and Australia, is further propelling the regional market growth.
Government initiatives
The measures taken by the governments of various countries for the development of marine tourism have boosted the growth of the market. Initiatives such as increasing investments in the tourism industry, developing infrastructure, and changing regulations are expected to have a positive impact on the tourism industry in the coming years. Sedan bridge boats and yachts are widely used by boaters for personal boating activities across the world and the trend is expected to continue over the forecast period. Thus government initiative drives the market of sedan bridge boat market.
Increase in Number of Billionaires Drive the Demand
By the end of 2020, there were 3288 billionaires around the world which is increasing at much higher rate as in 2018 there was 2,101 billionaires around the world, in two years around 1187 people added in the billionaire category. There is an increase of around 40%, in the number of billionaires around the world in 5 years. As the target audience for the sedan bridge market is these ultra-rich individuals, the increasing number of high-net-worth individuals is expected to drive the market growth. For instance, In July 2019, Rafael Nadal, the famous Spanish Tennis Player has bought a custom 80-foot luxury sedan boat.
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Questions answered in the sedan bridge boat market research report:
Key Market Segments
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