With the 68 million tons newbuilding volume, China has become the top of global shipbuilding market. Although attacked by the worldwide financial crisis in 2009, China as the big manufacturing country gained a total of $170 million exported yachts. And the amount reached $200 million rapidly last year. In the recent 10 years,Chinese yacht industry becomes one of the hottest markets of the world.

A bright future

In 2013, the policy advantage will lead Chinese yacht industry and cruises economy to a faster development. The yacht industry is expected to become another promising industry following automotive business. According to the expectation of China Association of the National Shipbuilding Industry (CANSI), Chinese yacht market scale will reach 50 billion yuan till 2020. Zheng Weihang, the Vice President of Cruise and Yacht Branch, China Communication and Transportation Association, gave the prediction that yacht demand by Chinese corporations would be 50,000 and also another 50,000 vessels from individual demand in the next 5 to 10 years. If the average price is 0.5 million to 1 million yuan per vessel, the yacht industry will create a huge market worthy of 100 billion yuan. The tender yacht market has a bright future.

A huge potential market for yacht equipment manufacturing industry

Not only the yacht itself, but also the industrial chain formed by the yacht industry has tremendous value. The related industries such as new materials, coatings, electronic instruments, meters, power and propulsion systems, will as well be led to new development by yacht productions. The annual maintenance costs of an ordinary yacht is minimum 10 million yuan, the whole consumption not only can absorb large amount of labor, but also bring local government tax revenue. What’s more, marinas, yacht transportation, yacht maintenance, fuel filling, water recreation and food service all these other industries will see the benefit, too.

Source from CNSS