JEC COMPOSITES MAGAZINE - Issue #35 - September 2007 - 32

FEATURE “Marine” The Chinese yachting industry in 2007/2008 * Some have no choice but to live on water, while others chose to do so. In any case, living on water may as well be pleasant and comfortable. The solution below offers a number of advantages in comparison with standard constructions in terms of both comfort levels and the manufacturing method. t is widely accepted that China has become a low-cost manufacturing base for companies hailing from every corner of the world. Spread across almost every major industry, the accompanying economic boom fuelled by these companies has brought prosperity to China who, after more than two decades of sustained growth, has turned its back on the past. I More information Marine Dragon Consulting (MDC) specialises in the development and promotion of the yachting industry in China. MDC assists the global yachting industry from conceptualisation to post-project support, supplying turnkey solutions to customers worldwide who desire to build, source or secure boats in China. www.marinedragon.com Fast-growing demand The accompanying fast-growing demand for leisure and recognition has brought many luxury goods and premium brands to China seeking a share of this new buying power. China has half-a-million US dollar millionaires and its luxury goods market is already the third largest in the world. Growing at 20% annually, it will become the second largest luxury market by 2015. Naturally, the boating industry is riding this wave, making China one of the hottest emerging markets in the boating industry. Currently, it is estimated that over 50 marinas are either being planned or under construction in China. Surpassing all expectations, the Showboat International Global Order Book for 2006 (for boats longer than 80 feet) ranked China sixth among the top ten builder nations. The Cheoy Lee Shipyard ranked as the world’s seventeenth largest super-yacht builder. At the small end of the size range, some 150 yards are building various types of boats and local craft. Approximately 20% of these yards have the capability to build export quality. Marine Dragon Consulting estimated the export value of pleasure boats at USD 140 million in 2005 and USD 180 million in 2006, resulting in a 30% growth rate. Many opportunities In the context of globalisation and concentration of the world boating industry, China appears as a possible contender for boat building and as a new market for yacht and marine equipment exports. Chinese yards can provide many opportunities for European, Australian and American boat builders, whose competitiveness and profitability are declining. Chinese yards are rapidly accumulating experience and improving their technology. Their achievements and results in the manufacture of both sailing and motor boats are most convincing. Chinese shipyards may represent a significant outcome for international marine equipment manufacturers looking for new markets around the world. As most of the production is exported, China-based shipyards A booming market JEC Composites Magazine / No35 September 2007

http://www.marinedragon.com

JEC COMPOSITES MAGAZINE - Issue #35 - September 2007

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