luxury yacht market report

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Luxury Yacht Market

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Luxury Yacht Market Size, Share & Industry Analysis, By Type (Motor Yachts and Sailing Yachts), By Size (Upto 50 Meters, 50 to 100 Meters, and More than 100 Meters), By Application (Personal use and Commercial use), and Regional Forecast, 2024-2032

Last Updated: September 02, 2024 | Format: PDF | Report ID: FBI105396

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KEY MARKET INSIGHTS

The global luxury yacht market size was valued at USD 7.67 billion in 2023. The market is projected to grow from USD 8.75 billion in 2024 to USD 17.33 billion by 2032, exhibiting a CAGR of 8.9% during the forecast period.

A luxury yacht is a high-end recreational vehicle offering exclusive and luxurious amenities along with accommodation. These vessels are loaded with the most advanced features for their users. Luxurious yachts include spacious cabins, staterooms, a pantry facility, multiple decks with entertainment facilities, water sports equipment, such as jet skis, and water toys. They are also equipped with advanced navigation and safety systems. These vessels can be privately or commercially owned. Their demand has increased steadily in recent years. This can be attributed to lifestyle changes, such as increasing wealth, recreation & leisure trends, and growing yacht tourism.

The luxury yacht market faced significant challenges during the COVID-19 pandemic, with travel restrictions and border closures leading to declining sales and demand. Many potential buyers postponed or canceled purchases due to uncertainty. However, as vaccination rates increased and travel restrictions eased, the demand for luxury yachts surged. Affluent individuals sought seclusion and social distancing, driving private yachting demand. There was a shift in travel preferences toward remote destinations, leading buyers to customize yachts with personalized amenities and eco-friendly features. Despite initial setbacks, the luxury yacht market demonstrated resilience and adaptability. Manufacturers and brokers adjusted policies to meet changing customer demands, leading to a positive outlook for the market's recovery.

Luxury Yacht Market Trends

Electrification of Yachts a Growing Market Trend

Yacht manufacturers are expected to increase the production of electric yachts as they switch to batteries to produce zero-emission products. The prevalence of clean propulsion technology will drive the growth of electric yachts in the future. Electric yachts have few moving parts and do not require engine oil or gas. Additionally, these yachts are quiet and require little maintenance.

Electric luxury yachts produce more torque and efficiently convert stored kinetic energy into electricity. These yachts are environmentally friendly and emit no carbon dioxide, thereby reducing greenhouse gas emissions. A tough regulatory environment for traditional yachts and rising fuel prices will pave the way for the solid growth of electric yachts in the future. Huge investments from various manufacturers and government support measures will accelerate the demand for electric yachts. Moreover, companies are investing in R&D to develop new concepts for electrification.

For instance, in June 2023, Porsche and Frauscher Shipyard announced the development of the Frauscher x Porsche 850 Fantom Air, an innovative electric yacht.

This venture marks Porsche's ambition to extend its electric prowess beyond the road and racing cars to promote maritime sustainability. This model combines aesthetics and innovation; the yacht utilizes the Premium Platform Electric (PPE) technology. It is integrated with a high-capacity 100 kWh lithium-ion battery , the latest-generation permanently excited synchronous electric motor (PSM), and state-of-the-art power electronics.

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Luxury Yacht Market Growth Factors

Increasing Number of UHNWIs to Surge Product Demand

The luxury yacht market is experiencing a significant surge in demand, primarily driven by the increasing number of global Ultra-high Net Worth Individuals (UHNWIs). Recent statistics reveal a notable rise in the proportion of UHNWIs, with the superyacht industry benefiting immensely from this trend. Leading yacht brokerage firms report record sales at top shipyards, with backlogs growing steadily. Additionally, there has been a remarkable increase in first-time charters, accounting for approximately 40% of the luxury charter market in 2021, according to insights from industry experts.

The growing wealth accumulation among billionaires and the super-rich fuels the demand for luxury yachts as affluent individuals seek extravagant investments that align with their lavish lifestyles. This trend is evident across various regions globally, with a particular emphasis on catering to the preferences and desires of ultra-rich clientele.

Furthermore, the steady rise in UHNWIs globally is expected to sustain the momentum in the luxury yacht market. Notably, regions, such as Asia Pacific, are anticipated to emerge as significant growth drivers for the luxury yacht market, owing to the rising affluence and luxury consumption trends in these regions. Overall, the increasing number of UHNWIs is a key factor propelling the growth of the luxury yacht market, shaping the industry landscape, and driving innovation in yacht design and customization to meet the evolving demands of ultra-rich clientele.

The growing desire among ultra-rich individuals to make extravagant investments that align with their affluent lifestyle further propels the demand for luxury yachts globally. This trend is underscored by the steady increase in wealthy individuals globally, particularly in regions, such as Asia Pacific, Europe, and other Middle Eastern countries. Thus driving the luxury yacht market growth.

RESTRAINING FACTORS

Environmental Concerns Related to Yachting Activities to Restrain Market Growths

Yachts have a significant impact on marine ecosystems. In busy waterways, the presence of luxury yachts can lead to algae and sedimentation, blocking solar radiation, degrading the water quality, and hampering marine life. In addition, sediments on yachts can change the water chemistry, making it either alkaline or acidic. The chemicals used to wash, operate, and protect yachts often mix with the water and seriously impact the environment, killing and debilitating wildlife. Since freshwater is commonly used for drinking water and fishing, such toxins in freshwater can affect humans as well.

New motor yachts, jet skis, sailing yachts, and other leisure boats have strict limits for nitrogen oxides (NOx), particulate matter, and hydrocarbons (HCs). In September 2021, representatives from the California Air Resources Board (CARB) proposed emission regulations for commercial yachts. Through these regulations, CARB aims to minimize harmful gas emissions. As recreational sailing is popular, protecting marine ecosystems and the environment has become an uphill battle. Regulatory measures and educational programs help raise awareness and reduce yacht-related pollution. But, protecting aquatic life and human health requires a concerted effort by yacht manufacturers, consumers, and regulators.

According to the International Maritime Organization, marine tourism resources are subject to various global threats to the oceans and marine systems, mainly due to anthropogenic factors. These include climate change, overfishing, bottom trawling (fishing nets along the seafloor), migration of invasive species, changes in inputs of waste, nutrients, and sediments to coastal and marine ecosystems, coastal urbanization, and loss of resources and natural capital in coastal areas, especially coastal wetlands.

Luxury Yacht Market Segmentation Analysis

By type analysis.

Higher Comfort Offered by Motor Yachts to Boost Their Demand

The market, based on type, is fragmented into motor yachts and sailing yachts. Motor yachts are the dominant and fastest growing segment. Motorized yachts provide larger space since they do not rely on winds and can cruise at high speeds, making them suitable for long-distance travels.

Sailing yachts have also showcased a significant growth rate in the market. This growth is due to their eco-friendliness and affordability. Sailing yachts have lesser budgets than motor yachts and are safer and more reliable.

By Size Analysis

Up to 50 Meters to Hold Largest Market Share Due to Affordability and Diverse Use

By size, the market is classified into up to 50 meters, 50 to 100 meters, and more than 100 meters. The up to 50-meter segment accounts for the largest global luxury market share. These yachts can be utilized for both personal activities and commercial use. Many manufacturers are developing new designs in this category.

For instance, In January 2024, Tyde, the German luxury yacht manufacturer, collaborated with BMW to launch its second model, The Open. It is a 15-metre-long, fully-electric luxury day yacht.

The demand for superyachts and megayachts is rising in most developed countries, and there has been a notable surge in tourism in these nations. Therefore, the 50-100 meters segment is expected to record the highest CAGR, while the more-than 100 meters segment may exhibit a significant growth rate during the forecast period.

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By Application Analysis

Rising Disposal Income to Boost Product Use for Personal Activities

By application, the market is divided into personal use and commercial use.

In 2022, the personal use segment held the largest market share. Rapid urbanization, rising living standards, rising personal disposable incomes, and a growing population of high net worth individuals have increased spending on luxury goods and leisure activities. These factors are anticipated to fuel the growth of the personal use segment. Therefore, luxury yacht services have also seen a significant increase in demand in recent years.

Rising commercial get-togethers, such as corporate events, parties, sailing competitions, and fishing activities, have boosted the growth of the commercial use segment.

REGIONAL INSIGHTS

Regionally, the market is analyzed across North America, Europe, Asia Pacific, and Rest of the World.

Europe Luxury Yacht Market Size, 2023 (USD Billion)

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Europe is expected to hold the largest market share. This region has the potential to dominate the market due to the strong growth of maritime tourism and wide range of tourist destinations. Countries, such as Croatia, Greece, France, Spain, and Italy are the region's top tourist destinations and highest income earners. The rise in the popularity of fishing activities and water sports and growing upper-class population are expected to drive the market development in the region during the forecast period. Rising booking of European air tickets, strong online demand for yacht charter service providers, and increased insurance of vessel permits are expected to drive market growth in the region. The region's wealthy population is also likely to drive the market growth.

North America holds the second-largest position in the market as the region's diverse coasts have become great cruise destinations. The U.S. dominates this regional market due to the presence of major charter hubs within the country.

Asia Pacific is expected to be the fastest growing region in the next few years. This growth has been credited to rapid urbanization, rising living standards, and rising disposable incomes. Leisure activities, such as fishing and water sports are becoming more popular in Thailand, Malaysia, Singapore, China, Japan, and Australia. Maritime tourism is also rising, presenting significant opportunities for yacht manufacturing companies. In addition, aggressive government initiatives for marine tourism development, especially in countries, such as India and China, are expected to boost the regional market growth.

List of Key Companies in Luxury Yacht Market

Significant Product Offerings by Azimut Benetti Will Strengthen its Growth Prospects

Azimut Benetti is the first among all key players leading a global private group in the yachting sector, established in 1969 and headquartered in Viareggio, Italy. It has more than 50 years of experience in the sector. The company has achieved 60% growth in the last four years and has a 526,000 sq.m. production facility and 138 showrooms in 80 countries globally. It is known for continuous innovation and experimentation; it has been the world’s leading manufacturer of mega yachts and shipyards with the widest range of models for 23 years. The company has 168 projects under construction, totaling 5,991 meters in length, making it rank first, for the 23rd time in a row, in the annual ranking of the largest yacht builders. The company has major brands, such as Azimut, Benetti, Yachtique, and Lusben.

LIST OF KEY COMPANIES PROFILED:

Azimut Benetti S.p.A. (Italy)
Sanlorenzo S.p.A (Italy)
Ferretti Group (Italy)
Feadship (Netherlands)
Princess Yachts (U.K.)
Sunseeker Yachts (U.K.)
Fr. Lurssen Werft GmbH & Co. KG (Germany)
ISA Yachts (Italy)
Ocean Alexander (Taiwan)
Kingship Marine Limited (China)

KEY INDUSTRY DEVELOPMENTS:

January 2024: Mayla Hamburg, a Germany-based manufacturer, is a new entrant into the luxury yacht market. It has announced the unveiling of a magnificent new water vessel. The 'GT' is a luxury yacht that can be powered by diesel and gas, as well as hybrid and electric. This particular yacht boasts a hull that is made entirely out of carbon prepreg materials weighing as low as 3.8 tons. This combination of top-notch powertrain options and low weight makes its speed between 50 and 100 knots. The yacht's luxury amenities include a sundeck, BBQ, high-end audio system, sofa lounge and more.
November 2023: Gulf Craft announced the exploration of hydrogen technology for its superyacht fleet. Gulf Craft partnered with H2-Enterprises to explore & develop a zero-emissions Majesty yacht, which could be powered by an innovative LOHC (Liquid Organic, Hydrogen Carrier) energy system. H2-Enterprises has been working on this technology for the last 13 years and has now reached the stage of development to power a superyacht.
June 2023: Sanlorenzo launched a 47-meter explorer yacht called Para Bellum. The company’s tenth yacht is in its high-selling 460-500 EXP series. It is powered by twin Caterpillar engines that reach a cruising speed of 13 knots.
May 2023: The Kadey-Krogen Group (Florida) acquired American Tugs in LaConner, Washington. American Tugs was founded in 1999 and is a leading builder of high-quality, U.S.-built coastal cruisers with a vast customer base in North America and Europe. The company has delivered over 250 cruising yachts and five commercial vessels from its 2,600 sq.m. facility.
April 2023: Ferretti Group launched the Pershing 140. It is the company’s first flagship model entirely built from aluminum in the Ancona facility. The Pershing 140 yacht is equipped with four MTU 16V 2000 M96L engines, each rated at 2,600 hp, providing a cruising speed of 35 knots and a top speed of 38 knots.

REPORT COVERAGE

The market report provides a detailed analysis and focuses on key aspects, such as leading companies, product types, end-users, design, and technology. Besides this, it offers in-depth insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the market's growth in recent years.

An Infographic Representation of Luxury Yacht Market

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Report Scope & Segmentation


	2019-2032
	2023
	2024
	2024-2032
	2019-2022
	CAGR of 8.9% from 2024-2032
	Value (USD Billion)

Frequently Asked Questions

Fortune Business Insights says that the global market was valued at USD 7.67 billion in 2023. The global market is projected to grow to USD 17.33 billion by 2032.

The market is expected to register a CAGR of 8.9% during the forecast period of 2024-2032.

Increasing number of UHNWIs across the globe is expected to surge the market growth.

Europe led the global market in 2023.

STUDY PERIOD: 2019-2032
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022
NO OF PAGES: 200

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The global luxury yacht market size is projected to grow from $8.75 billion in 2024 to $17.33 billion by 2032, at a CAGR of 8.9% during the forecast period

Luxury Yacht Market Size, Share, Competitive Landscape and Trend Analysis Report, by Size, Type and Material : Global Opportunity Analysis and Industry Forecast, 2022-2031

CG : Luxury and high value products

Report Code: A04886

Tables: 150

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The luxury yacht market size was valued at $5.8 billion in 2020 and is expected to reach $12.8 billion by 2031, registering a CAGR of 8.0% from 2022 to 2031.

Luxury yachts are large, luxurious, professionally crewed motors or sailing yachts with length varying from 75 feets and expanding to more than 250 feet. Luxury yachts are often available for chartered providing as well as private purpose to provide seamless luxury experience full of high standard and comfort. Traditionally manufactured using woods, fiber reinforced polymers and composites gain huge popularity in the last few years. Demand for luxury yachts have increased steadily in the last few years. This can be attributed to change in lifestyle of people fueled by growth in high net worth individuals, rise in inclination toward recreational and leisure activities, and surge in trend of yacht tourism.

The outbreak of COVID-19 pandemic has a negative impact over the aviation and shipping sectors. This is attributed to the speed through which the countries restricted travel activates, closed the borders, and observed a sharp drop in economic activity. There was a rising number of countries partially or completely closing their borders, along with a rising awareness regarding the traveling activates which can lead the traveler to catch or spread the virus via travelling

The 75-120 feet segment dominated the overall luxury yacht market share in 2017 and is expected to remain dominant during the forecast period. Improved design, style, comfort, livability, technological innovations, and performance drive the growth of the global market for 75-120 feet luxury yacht. Furthermore, excellent optimization of both interior and exterior spaces result in high consumer preference toward this segment.

Motor yacht is a broad term that encompasses a number of styles, including fly bridge, aft cabin, Sedan Bridge, large express-style, and yachts pilothouse. The motor yacht segment is expected to exhibit robust growth rate in the luxury yacht market during the forecast period. The growth of this segment is mainly attributed to more on board facilities, more room space and more opportunities for recreational activities.

The 120-250 feet segment dominates the Global Luxury Lacht Market and is expected to retain its dominance throughout the forecast period.

It is evident from reviewing recent technology advances that material development plays a key role in the production of yachts hull. Selection of material for yacht construction depends on different parameters such as strength to weight ratio, size, stiffness, and payload. Thus, material selection holds importance during yacht manufacturing. FRP materials offer tremendous potential for applications in a marine environment. Fiber reinforced plastic is the most preferred material by the yacht manufacturers owing to its numerous advantages. FRP is light weight, which enables increased speed, increased payload, and reduction of fuel consumption. Furthermore, FRP has low stiffness and high corrosion resistance thus providing necessary flexibility during yacht construction.

The report focuses on the growth prospects, restraints, and opportunities of the global luxury yacht market. The study provides Porters five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the luxury yacht market.

The Motorized Luxury Yacht segment dominates the global Luxury Lacht market and is expected to retain its dominance throughout the forecast period.

Segment Review

The global luxury yacht market is segmented based on size, type, and material. Based on size, the luxury yacht market is segmented into 75-120 feet, 121-250 feet, and above 250 feet. Based on type, the market is divided into sailing luxury yacht, motorized luxury yacht, and others. Based on material, the market is analyzed across FRP/composites, metal/alloys, and others. Based on region, the market is studied across Americas, Europe, Asia-Pacific, and Middle East & Africa.

Some of the key players in the luxury yacht market are Alexander Marine Co Ltd, Damen Shipyards Group, AzimutBenettiS.p.A., Feadship, FERRETTI S.P.A., Horizon Yacht USA, Princess Yachts International plc, Sanlorenzo Spa, Sunseeker International Limited, and Viking Yacht Company.

The FRP& Composites segment dominates the global Luxury Lacht market and is expected to retain its dominance throughout the forecast period.

Current and future luxury yacht industry trends are outlined to determine the overall attractiveness of the luxury yacht market. Top impacting factors highlight opportunities during the forecast period. Factors such as growth in high net worth individuals and yacht tourism drive the growth of the luxury yacht market. In addition, chartering of yachts is also one of the major factors that fuels the growth of the global luxury yacht market. However, stringent government regulations and environmental policies along with increase in maintenance and associated cost are some of the major factors that might hamper the growth of the luxury yacht market.

Italy is the leading producer of luxury yacht followed by UK, U.S., the Netherlands, Taiwan, and others. The Italian industry holds the overall global leadership position in the luxury yacht segment with total production amounting to more than 42% of the global production for 2020. In the last decade, because of reduced domestic demand, Italian shipbuilders focus on international and emerging markets where Italian brands are well received. Favorable government initiatives such as lower mooring and marine resort taxes, reform of the maritime code, and measures for easy leasing augment market expansion in the region. Furthermore, continuous focus on trade and internationalization through commercial strategies and strategic alliances by leading domestic manufacturers such as AzimutBenetti, Sanlorenzo and Ferretti have ensured Italy to remain hub for luxury yacht manufacturing in the region. On the other hand, Taiwan is emerging as promising region for yacht manufacturing in Asia Pacific region. With steady growth in revenue as well average yacht length Taiwan has gained attention from around the world for its cheap but high-quality luxury yachts.

The Europe region dominates the global Luxury Lacht market and is expected to retain its dominance throughout the forecast period.

Key Benefits For Stakeholders

The report provides a quantitative analysis of the Luxury Yacht market trends, estimations, and dynamics of the seeds market size from 2020 to 2030 to identify the prevailing opportunities.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth analysis and the market size and segmentation assist to determine the prevailing Luxury Yacht market opportunities.
The major countries in each region are mapped according to their revenue contribution to the Luxury Yacht market.
The market player positioning analysis facilitates benchmarking and provides a clear understanding of the present position of the market players in the Luxury Yacht industry.

Luxury Yacht Market Report Highlights




	(U.S., Brazil, Rest of Americas) (Italy, Netherland, United Kingdom, Rest of Europe) (Australia & New Zealand, China, Taiwan) (Qatar, South Africa, Turkey, UAE)

Analyst Review

In accordance to several interviews conducted, the CXOs of the leading companies stated that luxury yacht market is expected to witness a significant growth in the future. In addition, global luxury yacht market is expected to remain influenced by eternal need for luxury. Moreover, rise in trend of remote exploration provides new growth avenues for luxury yachts. Furthermore, introduction of new materials such as structural glass have allowed yacht architectures to reach new levels of sophistication.

Growth in number of millionaires and swathes of millennial population have developed a voracious taste for luxury yachts in the past few years. Featuring helipads, swimming pools, saunas, hot tubs, and more, yachts are epitome of luxury. The new generation increasingly focuses on pursuing rare, tailored experiences over accumulating things. With on-board beach toys, such as motorboats & jet skis, top-deck Jacuzzi, lavish swimming pools, and private screening rooms, yachts represent pinnacle of luxurious life.

The luxury yacht market remained one of the few bright spots in an otherwise troubled global economy. With strong underlying drivers such as rise in ultra-net worth individuals, surge in inclination toward recreational & expeditions, and rise in trend of yacht tourism, the market is expected to witness significant growth during the forecast period. At the same time, the sector is facing challenges driven by high maintenance cost, stringent rules and regulations, and rapid technological innovation.

Luxury Lifestyle
Premium Brands
Ultraluxury Brands
Luxury Brands
Premium Lifestyle

The luxury yacht market size was valued at $5.8 billion in 2020 and is expected to reach $12.8 billion by 2031, registering a CAGR of 8.0% from 2022 to 2031

The luxury yacht market CAGR of 8.0% from 2022 to 2031. Luxury yachts are large, luxurious, professionally crewed motors or sailing yachts with length varying from 75 feets and expanding to more than 250 feet.

Raise the query and paste the link of the specific report and our sales executive will revert you back with the sample.

The forecast period in the luxury yacht market report is from 2022 to 2031. Luxury yachts are often available for chartered providing as well as private purpose to provide seamless luxury experience full of high standard and comfort.

The top companies in the Luxury Yacht market are 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.

The European region will dominate the market by the end of 2031. Current and future luxury yacht industry trends are outlined to determine the overall attractiveness of the luxury yacht market.

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Luxury Yacht Market

Global Opportunity Analysis and Industry Forecast, 2022-2031

Automotive Industry

Luxury Yacht Market

Luxury yacht market report by type (sailing luxury yacht, motorized luxury yacht, and others), size (75-120 feet, 121-250 feet, above 250 feet), material (frp/ composites, metal/ alloys, and others), application (commercial, private), and region 2024-2032.

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Table of Contents
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Luxury Yacht Market Size:

The global luxury yacht market size reached US$ 7.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.9 Billion by 2032, exhibiting a growth rate (CAGR) of 8.6% during 2024-2032. The market is experiencing steady growth driven by the increasing wealth among affluent consumers, particularly in emerging economies, the rising trend towards experiential luxury across the globe, and continuous technological advancements in yacht design and eco-friendly technologies.


	2023
	2024-2032

	US$ 7.9 Billion
	US$ 16.9 Billion
	8.6%

Luxury Yacht Market Analysis:

Major Market Drivers: An increase in the number of high-net-worth individuals across the world which leads to the rising demand for luxury yachts, especially in emerging economies. In addition, advanced technology, constant design, and practical yachting innovation continue to drive growth in the market by offering broader sophisticated choices to the wealthiest consumers.
Key Market Trends: Experiential luxury gains favor, with consumers opting for unique and memorable experiences in place of traditional luxury goods. The integration of environmentally friendly technologies and hybrid powertrain systems into a superyacht reflects an increasing environmental awareness of luxury yacht owners.
Geographical Trends: Rising affluent population has resulted in increased use of luxury yachts in Asia-Pacific regions. North America and Europe are well-known as traditional markets with long histories of supporting strong yachting cultures and infrastructures.
Competitive Landscape: A highly competitive industry that relies on innovation, personalization, and environmental consciousness to attract the cream of the high-net-worth crop. Businesses offer cutting-edge tech and premium features to stand out in the very competitive marketplace.
Challenges and Opportunities: Environmental concerns become one of the important issues for the luxury yacht industry to manufacture and maintain ships, which can be an obstacle to the growth of the shipping industry. However, there are many opportunities for environmentally conscious customers in the emerging market by building its green and fuel-efficient fleet.

Luxury Yacht Market Trends:

Growing high-net-worth individual (HNWI) population

The escalating number of high-net-worth individuals (HNWIs) is one of the primary factors influencing the global luxury yacht market. As the population of high-net-worth individuals increases, so does their inclination to spend on luxury goods and services, one of which is yachts. The luxury yachts are all regarded as status marks by these rich consumers for amusing themselves with the exciting, privileged leisure activities one can see inside the categories of prestige pleasure vehicles. Along with this, the growing incidence of high-value individuals (HNWI) in developing countries, including China and India, is increasing the luxury yacht market size. This has been supported, in part, by accelerating personal wealth and the proclivities of younger generations that, to some degree, prefer experiences over traditional luxury goods. This kind of market potential further encourages manufacturers to produce more innovations, appealing more to the rapidly changing tastes of HNWIs.

Technological advancements and innovations

Continuous technological advancements continue as growing technology innovations make yachts more exciting and forward-thinking in the luxury yacht market. In addition, with the benefits of current technology, hybrid propulsion systems, and smart yacht systems are being implemented to achieve better use and safety of the yachts, considering ecological issues. Moreover, individuals increasingly seek ecological products, contributing to the increase in demand for luxury yachts among current and future customers. Regarding the yacht market itself, the increased utilization of advanced materials and optimization of the design process further support the aesthetics and ability to operate yachts on the global market. These technological improvements ensure that the luxury yacht market remains vibrant and continues to cater to the needs of the upper echelon of buyers.

Rising demand for luxury travel and leisure

The luxury yacht market is driven by the growing trend of a more significant inclination to luxury in travel and recreational activities. In confluence with this, the escalating demand for private and exclusive holidays among wealthy consumers is propelling the market as luxury yachts match these demands in terms of exclusivity, privacy, and personalization. The uber-wealthy have also shown a move toward experiential luxury, with substantially more wealthy consumers preferring experiences to objects. Therefore, the wealthy often rent luxury yachts for holidays, events, or corporate purposes. Furthermore, yacht exhibitions and regattas are making the global market more appealing and visible. The trend toward high-end vacation and entertainment contributes to the luxury yacht market’s relevance and importance in the luxury business.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Luxury Yacht Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global luxury yacht market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type, size, material, and application.

Breakup by Type:

Sailing Luxury Yacht
Motorized Luxury Yacht
Others

Motorized luxury yacht represents the largest market segment

The report has provided a detailed breakup and analysis of the market based on the type. This includes sailing luxury yacht, motorized luxury yacht, and others. According to the report, motorized luxury yacht represented the largest segment.

Based on type, motorized luxury yachts are the largest type of segment in the luxury yacht market as they display high speeds, power, and advanced technological features. Available with higher-powered engines, these yachts offer unparalleled performance and economy and are highly sought after for cruising long distances at high speeds. With the increase in environmental awareness, affluent consumers are seeking environmentally alternative propulsion systems, such developments in engine technology and conventional engine technology in some cases have a positive effect on the luxury car market. This segment also remains strong and is supported by a growing charter market where the owners prefer motor yachts to gain maximum personalized and exclusive experiences. According to the luxury yacht market forecast, the buying spree for fully motorized luxury yachts can be expected to continue, as it appeals to those who appreciate the benefits of speed, luxury, and high-tech amenities adapted to the more modern tastes of the buyers. Breakup by Size:

75-120 Feet
121-250 Feet
Above 250 Feet

75-120 feet accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the size. This includes 75-120 feet, 121-250 feet, and above 250 feet. According to the report, 75-120 feet represented the largest segment.

The 75 to 120 foot range is the widest segment in the luxury yacht market due to its luxury with functionality and practicality. Between around 80 and 300 meters, depending on the vessel, these provide airy and elegant interiors (often with several common areas) that appeal to rich buyers in search of comfort and privacy. The dimensions of these yachts are big enough to ensure the presence and sense of prestige characteristic of luxury yachting, but small enough to be able to reach different ports and marinas to which larger boats would not have access. This size segment is versatile and it can be customized to feature everything from sundecks and swimming pools to space-age technology and lucrative eco-credentials. Moreover, yachts in the 75-120 foot range are rather popular in the charter marketplace as they provide a perfect blend of size and manageability that suits both owners and charterers being proprietors. The segment continues to be among the most popular in the industry, especially with the rising trend toward experiential luxury. Breakup by Material:

FRP/ Composites
Metal/ Alloys

FRP/Composites represents the largest market segment

The report has provided a detailed breakup and analysis of the market based on the material. This includes FRP/composites, metal/ alloys, and others. According to the report, FRP/composites represented the largest segment.

The luxury yacht market is dominated by the FRP (fiberglass)/composites material segment, which offers a high strength-to-weight ratio and greater durability than its substitutes. FRP composites offer huge benefits over traditional materials such as wood or steel, meaning they can meet the performance and fuel efficiency requirements that are important in high-end luxury yachting. The flexibility of FRP enables more innovation and intricate design structures to create the most aerodynamic and appealing yachts a manufacturer can provide. In addition, as FRP is particularly resistant to corrosion and bad weather, the cost of subsequent maintenance is much lower, and it can increase the service life of yachts. Being molded to numerous shapes and sizes grants this material higher customization, adapted to rich customers' preferences and demands. As sustainability becomes an undeniable trend in the luxury yacht industry, considerably lower emissions due to weight reduction are one of the many environmental advantages of using FRP. Therefore, the FRP/composites category continues to hold the major luxury yacht market share, subsequently ruling in the market as a perfect fit due to its changing performance parameter requirements, design, and eco-friendliness. Breakup by Application:

Private

Commercial represents the largest market segment

The report has provided a detailed breakup and analysis of the market based on the application. This includes commercial and private. According to the report, commercial represented the largest segment.

The largest application of the luxury yacht market is the commercial segment, supporting the demand for charter services and corporate use. Globally, luxury yachts in commercial space are targeted at ultra-high-net-worth individuals seeking unique and personalized vacation experiences where one can opt for a customized itinerary and a range of high-end services. Moreover, this segment is benefiting from an increasing trend of experiential luxury, where the consumer has more interest in exclusive and unique experiences than having such products. In addition, yacht charters are a growing trend for corporate events, retreats, and incentive programs, offering a high-caliber, exclusive experience for business engagements. Another key factor driving the demand for commercial luxury yachts is the rise in expanding global tourism and increasing disposable incomes in emerging markets. A strong, continuous interest in luxury yacht charters, supported by this segment's popularity across commercial applications, cements its place as the dominant sector within the sphere of yacht rentals, promising a sturdy upswing in the market, and continued efforts toward the development of top-tier, highly adaptive yacht offerings. Breakup by Region:

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United States

South Korea

United Kingdom

Middle East and Africa

North America leads the market, accounting for the largest luxury yacht market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America represents the largest regional market for luxury yacht.

North America is the largest segment in the luxury yacht market due to the region's large high-net-worth individual population and mature yachting industry. Featuring the largest affluent population in the world, the U.S. is home to the foremost luxury yacht-buyers who increasingly invest in luxury yachting as the ultimate status symbol and as a distinctive means of exclusive leisure. In addition, the implementation of popular yachting jurisdictions such as Florida, California, and the Great Lakes, coupled with long coastlines and good maritime conditions, further attracts the demand for superyachts in the region. North America is supported by a mature infrastructure, which underpins its reputation as a world-class yachting destination from a marina and yacht club perspective, providing the required services to cater to the high demand for luxury yachts. The robust economy of the area and a relaxed political framework offer a perfect setting for the luxury yacht market to flourish. This highlights North America's position at the top, with an exceptionally strong charter market from buyers based both in the US and internationally. The affiliation between the investment and yachting superiority and yachting equipment with the socio-cultural measurement and North America is eventually sought to keep intact the area's prevailing position in the overall luxury yacht sector.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the luxury yacht industry include:

Alexander Marine International
Azimut - Benetti S.P.A.
Brunswick Corporation
Christensen Shipyards LLC
Damen Shipyards Group N.V.
Feadship Holland B.V.
Fincantieri S.p.A. (CDP Industria S.p.A.)
Heesen Yachts Sales B.V.
Horizon Yacht USA
Palumbo Group S.P.A
Princess Yachts Limited
Sanlorenzo S.p.A.
Sunseeker International (Wanda Group)
Viking Yacht Company

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Key players are focusing on innovation, sustainability, and experiential tailor-made customer services to remain at a competitive front. Key players are emphasizing performance and efficiency along with being environmentally friendly by adopting new technologies such as hybrid propulsion systems along with smart yacht features through extensive R&D efforts. In addition, the manufacturers are also leaning on bespoke designs, allowing buyers to tailor yachts to their tastes and preferences. Moreover, leading players are increasing their jurisdictional foothold to expand further in key growth regions in Asia-Pacific, concentrating more on acquisitions and strategic partnerships. This focus on impeccable workmanship, innovation, and customization keeps them at the forefront of affluent consumers' minds, enabling luxury houses to adapt to changing preferences.

Luxury Yacht Market News:

April 26, 2024: Alexander Marine International announced the sale and delivery of a new Ocean Alexander 35R. Best in Show, the OA 35R is a work of design and engineering art that had no previous exposure before it was launched at the 2021 Fort Lauderdale International Boat Show.
April 05, 2024: Italian shipyard Azimut-Benetti and marina chain D-Marin entered a development partnership in Livorno, Italy. The $16-million project is anticipated to start construction in April 2024 and be completed by mid-2026.

Luxury Yacht Market Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
Types Covered	Sailing Luxury Yacht, Motorized Luxury Yacht, Others
Sizes Covered	75-120 Feet, 121-250 Feet, Above 250 Feet
Materials Covered	FRP/ Composites, Metal/ Alloys, Others
Applications Covered	Commercial, Private
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Alexander Marine International, Azimut - Benetti S.P.A., Brunswick Corporation, Christensen Shipyards LLC, Damen Shipyards Group N.V., Feadship Holland B.V., Fincantieri S.p.A. (CDP Industria S.p.A.), Heesen Yachts Sales B.V, Horizon Yacht USA, Palumbo Group S.P.A, Princess Yachts Limited, Sanlorenzo S.p.A., Sunseeker International (Wanda Group), Viking Yacht Company, etc.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the luxury yacht market from 2018-2032.
The research report provides the latest information on the market drivers, challenges, and opportunities in the global luxury yacht market.
The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the luxury yacht industry and its attractiveness.
The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.

Key Questions Answered in This Report

The global luxury yacht market was valued at US$ 7.9 Billion in 2023.

We expect the global luxury yacht market to exhibit a CAGR of 8.6% during 2024-2032.

The expanding recreational tourism sector, along with the widespread availability of luxury yachts on lease by yacht fleet operators for organizing business meetings, recreational activities, and events, is primarily driving the global luxury yacht market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in various recreational activities and demand fluctuations for luxury yacht.

Based on the type, the global luxury yacht market has been segmented into sailing luxury yacht, motorized luxury yacht, and others. Currently, motorized luxury yacht holds the majority of the total market share.

Based on the size, the global luxury yacht market can be divided into 75-120 feet, 121-250 feet, and above 250 feet, where 75-120 feet currently exhibits a clear dominance in the market.

Based on the material, the global luxury yacht market has been categorized into FRP/ composites, metal/ alloys, and others. Among these, FRP/ composites account for the majority of the global market share.

Based on the application, the global luxury yacht market can be segregated into commercial and private. Currently, the commercial sector holds the largest market share.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global luxury yacht market include Alexander Marine International, Azimut - Benetti S.P.A., Brunswick Corporation, Christensen Shipyards LLC, Damen Shipyards Group N.V., Feadship Holland B.V., Fincantieri S.p.A. (CDP Industria S.p.A.), Heesen Yachts Sales B.V, Horizon Yacht USA, Palumbo Group S.P.A, Princess Yachts Limited, Sanlorenzo S.p.A., Sunseeker International (Wanda Group), Viking Yacht Company, etc.

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Global Luxury Yacht Market: Information By Size (75-120 feet, 121-250 feet, Above 250 feet), By Type (Sailing Luxury Yacht, Motorized Luxury Yacht), By Hull Material (Fiber Reinforced Polymers and Composites, Metals and Alloys), and By Region (North America, Europe, APAC, Middle East and Africa, LATAM) - Forecast Till 2032

Market Dynamics

Regional analysis.

Report Scope

Segmental Analysis

Key Players
Recent Development
Report Overview
Table of Content
Segmentation

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Market overview.

The global luxury yacht market revenue was valued at USD 7.2 billion in 2023 and is projected to reach USD 16.1 billion by 2032, registering a CAGR of 9.4% during the forecast period (2024-2032). Factors such as the growing wealth of affluent individuals, their interest in private leisure activities, the rising focus on experienced luxury, the increase of marine tourism, and the advent of luxury charter services are driving the expansion of the luxury yacht market.

A luxury yacht is an exceptionally advanced watercraft that seamlessly integrates speed, comfort, and elegance and is specifically designed to suit the preferences of wealthy persons. They are known for their sophisticated design, advanced technology, and impressive facilities. They feature state-of-the-art navigation systems, high-performance engines, and meticulous craftsmanship to provide optimal operation and visual appeal. They are frequently utilized for personal recreational pursuits, providing seclusion, autonomy, and a customized encounter. In addition to serving as a means of transportation, these yachts are also employed as symbols of prestige and opulence, boasting luxuries such as Jacuzzis, gyms, movies, and high-end dining facilities.

Affluent persons' growing wealth and inclination towards private recreational pursuits predominantly influence the global market. In addition, the sector is being driven by a rise in private charters and a preference for customized, luxurious designs tailored to individual preferences. Moreover, the thriving tourism sector and the need for exclusive, high-quality travel experiences contribute to growth. Furthermore, advancements in navigation, propulsion, and onboard entertainment systems are enhancing the attractiveness of these ships. Strategic alliances and collaborations between yacht manufacturers and designers propel the luxury boat market share.

Top 3 Key Highlights

121-250 feet generate the highest revenue share based on size.
Motorized luxury yachts generate the highest revenue share based on type.
Fiber-reinforced polymers and composites generate the highest revenue share based on hull material.

Market Drivers

Implementation of stricter environmental regulations.

The implementation of more stringent environmental rules is significantly influencing the industry. With rising global ecological consciousness, industries face mounting pressure to minimize carbon emissions and adopt sustainable practices. Consequently, yacht builders must create and advance ecologically friendly yachts that adhere to governmental mandates and the principles of environmentally aware customers. This program incorporates renewable energy sources like solar panels, wind turbines, and hybrid propulsion systems. Artefact, as an early adopter of the International Maritime Organisation's Tier III emissions regulations, incorporates solar panels, a wastewater recycling system, and a substantial battery storage system. This allows the yacht to occasionally function without relying on internal combustion engines .

Additionally, the yacht's silent cruising is attributed to its hybrid diesel-electric system, which incorporates lithium batteries. The system, developed by ABB, is said to reduce energy consumption and emissions by 30%. Despite its length of 107 meters and capacity of 5,844 gross tons, the recently built Benetti yacht Luminosity is equipped with a distinctive diesel-electric propulsion system that produces clean exhaust emissions. It also has a battery bank that allows up to 12 hours of silent operation while anchored. Luminosity, an impressive engineering accomplishment, operates using six 1,000kW generators that drive two Azipods, resulting in a potential fuel consumption reduction of up to 20%.

Moreover, manufacturers are prioritizing using sustainable resources and waste reduction strategies in the construction process. These eco-friendly measures not only fulfill legal requirements but also increase the attractiveness of luxury boats to a new generation of wealthy clients who appreciate sustainability. The industry is witnessing significant investment in research, development, and deployment of green technology due to a mix of regulatory compliance and customer demand. This trend is setting a new benchmark for the whole sector.

Market Restraints

Economic downturns.

The market for luxury yachts can be significantly affected by financial crises, recessions, or economic downturns. In times of economic hardship, persons possessing significant wealth may delay or reassess discretionary expenses, such as acquiring a high-end yacht. The high-end goods market, which includes the yachting industry, saw a substantial decline in 2008 due to the worldwide financial crisis. The crisis led to a decline in consumer confidence, prompting a reevaluation of discretionary spending. The boat market was affected by affluent individuals who delayed or reconsidered their luxury purchases.

Key economic indicators that provide insight into the potential impact of recessions on the luxury boat business encompass GDP growth rates, consumer spending patterns, and stock market performance. For instance, a deceleration in GDP expansion and consumer expenditure may suggest a decline in the market demand for high-end luxury products. During periods of economic decline, a decrease in the amount of money spent on non-essential items by individuals and businesses can impact the demand for luxury yacht rentals. To successfully handle challenging circumstances, boatmakers and industry players must demonstrate adaptability and employ effective strategies to minimize negative impacts.

Market Opportunity

Expansion of marine tourism and the advent of luxury charter services.

The significant growth of marine tourism and the introduction of high-end yacht charter services have become crucial drivers of the luxury boat sector. Marine tourism has experienced substantial development in recent years, especially among wealthy travelers looking for distinctive and luxurious vacation experiences. Coastal and marine tourism accounts for almost 50% of worldwide tourism, equivalent to USD 4.6 trillion or 5.2% of the global gross domestic product (GDP). Under normal circumstances, coastal and marine tourism is projected to become the dominant sector of the ocean economy by 2030, employing almost 8.5 million individuals. It is second only to small-scale fisheries in terms of employment.

Concurrently, the emergence of high-end yacht rental services has enabled more people to enjoy the magnificence of yachting without the requirement of owning a yacht. These charter services offer a high degree of flexibility, allowing the clients to select from a diverse selection of boats, destinations, and timeframes, all customized to suit individual preferences and financial constraints. Additionally, collaborations among tourism boards, travel agencies, and yacht charter firms are actively marketing marine tourism and enhancing the availability of luxury yachts. In Nafplion, the Mediterranean Yacht Show displays a fleet of 102 luxury charter yachts in Greece that are 24 meters or longer.

O'MATHILDE is a deluxe motor yacht charter by Golden Yachts, built in 2018. It measures 183.9ft (56m) and has three decks equipped with decadent amenities. This magnificent yacht is ideal for wealthy East Mediterranean yacht charters. This impressive yacht rental offers charter guests a fully-equipped gym, a deck Jacuzzi, Wi-Fi connectivity, and a convenient drop-down swim platform for easy access to the sea. It is expected to attract attention at the upcoming Mediterranean Yacht Show and in marinas located in popular yacht charter destinations. After that, this collaboration increases the number of customers and promotes ongoing creativity in facilities, services, and locations, guaranteeing that the high-end yacht industry stays lively, competitive, and adaptable to changing consumer demands and preferences.

	2020-2032		9.4%
	2020-2022		2024-2032
	2023		USD 7.2 Billion
	2032		USD 16.1 Billion
	Europe		North America

The global luxury yacht market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

Europe is the most significant global luxury yacht market shareholder and is estimated to grow at a CAGR of 9.6% over the forecast period. Given the exponential growth of maritime tourism and the diverse range of tourist destinations, this region can become a dominant force in the sector. Croatia, Greece, France, Spain, and Italy are the region's most renowned tourist destinations, attracting many visitors and generating significant revenue. The increasing popularity of fishing and water activities, coupled with the country's growing affluent population, is expected to drive market growth in the region throughout the projected period. Europe's tourism sector is undergoing a strong and vigorous recovery in the initial months of 2024. According to data from reported destinations, the number of foreign visitors increased by 7.2%, and the number of overnight stays increased by 6.5% in the first quarter of the year, exceeding the figures in 2019. This perpetuates the ascending pattern noted in 2023, where foreign visitors were 1.2% lower than the levels witnessed in 2019, while nights spent were only 0.2% below.

Furthermore, the rebound is primarily propelled by robust intra-regional mobility, mainly from Germany, France, Italy, and the Netherlands. Consumer research further indicates that travel will remain a primary focus in 2024. Tourist expenditure, both inside Europe and on long-distance trips, experienced growth at the beginning of 2024. Projections suggest that tourists will allocate 742.8 billion Euros in Europe during the current year, reflecting an increase of 14.3% compared to 2023. In 2024, Germany is expected to contribute significantly to the entire amount of money spent by travelers in Europe, accounting for 16% of the whole expenditure.

In addition, European air ticket bookings are increasing, there is a strong demand for yacht charter service providers online, and more vessel permits are being issued, all of which are expected to contribute to the growth of the regional industry. The affluent demographic of the area is also anticipated to enhance market growth. In December 2022, the European Union Council approved the European Agenda for Tourism 2030 to improve European tourism's digitalization and environmental sustainability. In 2021, we had a significant increase in yacht sales, leading to a surge in demand. This surge resulted in a new record set in 2022, with 606 yachts being introduced. Moreover, countries like Greece, Croatia, Spain, Italy, and France are renowned tourist hotspots, with a surge in fishing and water activities significantly attracting visitors.

North America is anticipated to exhibit a CAGR of 9.9% over the forecast period. North America is the second-largest market sector, known for its many coastlines that have become popular locations for cruises. The United States has significant control over this regional market due to extensive charter hubs within the country. Moreover, North America boasts the most crucial number of billionaires worldwide. By 2022, the number of billionaires in North America will exceed 1,000. The United States boasts the highest number of billionaires among all countries, with a staggering 955 individuals holding this esteemed status. This accounts for 30% of the global billionaire population. The yearly surge in the quantity of billionaires and an accumulation of wealth, leading to substantial purchasing power, will drive market expansion.

The Asia-Pacific region is expected to experience the highest growth rate in the following years. The growth has been ascribed to urbanization, the increase in living standards, and the rise in disposable income. Thailand, Malaysia, Singapore, China, Japan, and Australia are experiencing a growing trend in the popularity of fishing and water activities. The growth of maritime tourism is creating significant opportunities for yacht makers. Moreover, implementing proactive government initiatives to promote marine tourism, namely in India and China, is expected to significantly stimulate the regional industry's growth. The escalating expenditure on leisure pursuits propels the sector due to the global rise in people's income levels.

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The global luxury yacht market is segmented based on size, type, and hull material.

Based on size, the market is segmented into 75-120 feet, 121-250 feet, and Above 250 feet. The 121-250 feet segment dominated in 2023. Large yachts, sometimes referred to as superyachts, are defined as those that measure between 120 and 250 feet. These boats are perfect for longer trips and entertaining larger groups because they have plenty of living and entertainment areas. A 180-foot superyacht can accommodate up to 180 guests in luxury and includes amenities including a theater, water toys, various lounges, a gym, a leading suite, and VIP cabins. Additionally, yachts between 121 to 250 feet are attractive to high-net-worth individuals seeking luxurious experiences and visiting far-flung locations because they offer exclusivity, grandeur, and long-range cruising capabilities.

The 75-120 feet segment is the fastest growing. Medium-sized luxury boats are defined as those between 75 and 120 feet long. These boats are ideal for various cruising locations since they usually provide a fair mix of space and maneuverability.

The market is segmented based on type into sailing luxury and motorized luxury yachts, as well as other luxury yachts. The motorized luxury yacht segment dominated in 2023. Motorized luxury yachts are faster and more efficient because they use motors for propulsion. These yachts are renowned for their strength, adaptability, and speed over extended distances. Luxury motor boats are in high demand because they provide more excellent rooms and amenities. They operate exceptionally well and reach incredible speeds. Luxury motor yachts are fantastic for individuals who like to cruise more regions in less time. Since wind is less of an issue, they provide more flexibility because less preparation is needed.

The sailing luxury segment is the fastest growing. Luxury sailing yachts are distinguished by their central propulsion system: sails. These yachts are renowned for providing a more conventional, romantic, and environmentally responsible sailing experience. They are propelled by wind energy. Sailing yachts can cruise farther since they consume less fuel than motor yachts. Additionally, sailing vessels can travel to far-off places not commonly visited.

Based on hull material, the market is segmented into FRP/Composites and Metal/Alloys. The FRP/composites segment dominated in 2023. Carbon fiber, fiberglass reinforced with plastic, and other composite materials are used to construct luxury yacht hulls constructed of FRP or composites . This building technique offers flexibility, strength, and durability to accomplish complex structures. The mechanical qualities of the fiber and matrix, their respective volumes, and the length and orientation of the fibers within the matrix all affect the properties of fiber-reinforced polymers (FRPs). Steel, concrete, masonry, and timber constructions can be reinforced with FRPs. The following four primary types of Fibers are utilized in FRP: glass, carbon, natural, and aramid. More design freedom is provided by FRP/composite hulls, which enables yacht builders to produce inventive and beautiful designs.

The metal/alloys segment is the fastest growing. Steel and aluminum are used to construct luxury boats with metal or alloy hulls. Metal construction offers strength and durability for larger ships, prioritizing stability and safety. Yachts made of aluminum require less upkeep, are simple to fix, and hold their worth over time. Although less pliable in design, metal and alloy hulls are renowned for their durability.

Market Size By Size

75-120 feet
121-250 feet
Above 250 feet

List of key players in Luxury Yacht Market

Azimut Benetti
Ferretti Group
Princess Yachts
Sunseeker Yachts
Fr. Lurssen Werft
Ocean Alexander
Kingship Marine

Luxury Yacht Market Share of Key Players

Recent Developments

May 2024- The shipyard Van der Valk in the Netherlands recently unveiled the motor yacht ONE (formerly known as 111.11), which is 34.11 meters (111 feet 6 inches) in length. The boat results from a partnership between naval architect Diana Boat Design, exterior designer Guido de Groot, and interior designer Carla Guilhem.
May 2024- Yacht charter in the Bahamas - The CROSSED SABRE, a 44-meter superyacht. The yacht's spacious interior provides luxurious living across three levels. These levels consist of an open-plan salon with a formal dining area and a master stateroom that spans the entire width of the main deck. Above is a fantastic sky lounge for all guests to relax and entertain. Below the deck, there are an additional six staterooms. Her chosen color scheme consists of a pleasing blend of blue and neutral materials, complemented by elegant wooden panels and enhanced by generously sized panoramic windows that provide ample natural light.

Luxury Yacht Market Segmentations

By size (2020-2032), by type (2020-2032).

Sailing Luxury Yacht
Motorized Luxury Yacht
Other Luxury Yacht

By Hull Material (2020-2032)

Fiber Reinforced Polymers and Composites
Metals and Alloys

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Luxury Yacht Market

Luxury Yacht Market by Direct Suppliers, Indirect Suppliers, Number of Bookings, Type, Visit Purpose, Tour Type, Age, Demographic, Booking Channel & Region | Forecast 2023 to 2033

Market Insights on Luxury Yacht covering sales outlook, demand forecast and up-to-date key trends

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Luxury Yacht Market Outlook (2023 to 2033)

As per the latest findings of Future Market Insights, global luxury yacht market revenue is expected to be US$ 8,812.4 Million by the end of 2023. In the long-term, the luxury yacht market is estimated to reach at around US$ 19,924.7 Million in 2033.

Attribute	Details
Estimated Luxury Yacht Market Size (2023)	US$ 8,812.4 Million
Projected Luxury Yacht Market Size (2033)	US$ 19,924.7 Million
Value-based CAGR (2023 to 2033)	9%

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2018 to 2022 Luxury Yacht Market Outlook Compared to 2023 to 2033 Forecast

The word yacht is derived from the Dutch word ‘jacht’ meaning hunt. Luxury yachts are also known as “Floating Palaces or Floating Real Estates". They are the epitome of luxury spending. Luxury yachts are privately owned, professionally crewed and highly expensive motor yachts.

The various stakeholders of the luxury yacht market are yacht manufacturers, brokerage firms and brokers, designers, harbor management services, equipment and accessory sectors, journalists and potential buyers.

The luxury yacht market is both a B2B and B2C market as HNWI (high net worth individuals) and UHNWI (ultra-high net worth individuals) are the direct customers, also there are companies that buy luxury yachts for commercial purposes.

Luxury yacht manufacturing companies are obsessively focused on quality because it is the prime differentiating factor between luxury yachts and non-luxury yachts. These companies manufacture luxury yachts using fast patrol vessels, frigates, and interceptors, which are used by world navies for high security. Growing awareness of environmental protection has led to the manufacture of solar luxury yachts.

Types of Luxury Yachts

Yachts belonging to this category have a length of over 50 meters and are considered to be the largest of their kind. Luxury Megayachts have all the facilities ranging from swimming pools, movie halls, cafeterias, banquet halls to even gyms and suite rooms. They are generally used for leisure and recreation for a large group of people and mostly owned by organizations.

Super Yachts

The average length of a superyacht ranges from 30-50 meters. Due to their smaller size in comparison to a mega yacht, a super yacht has lesser provisions but they are equally luxurious.

By Propulsion:

Luxury Motor Yachts

Motor yachts constitute the widest category of luxury yachts having a motor attached to them. With multi, decks, large interiors and spacious rooms for comfort, these yachts are the perfect choice for a large group of people.

Luxury Sailing Yachts

These kinds of yachts are driven by sail instead of motor. Pleasure boats, also known as yachts, come in various forms and sizes of sails. These vessels can be single sail-single mast), double sail-single mast or multiple sails-multiple masts.

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What are the Key Drivers of the Luxury Yacht Market?

Growth in Nautical Tourism is fueling the growth of this market

Yachting along coastal locations is slowly becoming popular across various countries. Formulation of favorable policies has been effective in promoting coastal and marine tourism which has consequently led to a boost in yachting tourism as well. Adoption of private boats for leisure, client meetings and large scale parties has become quite prevalent. In order to explore new locations with a smaller crowd, regions such as Asia Pacific, Antarctica and Middle East are being preferred for yachting.

Another reason for growth of luxury yachting tourism has been the availability of renting of charter boats. Rentals for yachts are available on weekly basis which further increases the accessibility of luxury yachting.

The number of ultra-wealthy households are projected to increase

In the coming years, the number of ultra-wealthy households having assets worth $100 million or more is projected to increase by 70% in the next five years. Shipyards have therefore started to invest in new facilities and technologies to meet the expected demand which will eventually lead to growth in the market for Luxury Yachts

Green Yachting is becoming popular amongst an environmentally conscious generation

The new generation millennials, belonging to 35-45 year age bracket, have become highly environmentally conscious. This is extremely important to factor in since up to 40% of the yacht buyers are now millennials. Therefore, the sector is slowly switching to green yachting by adopting a more eco friendly approach. By 2050, the International Maritime Organization has instructed the maritime industry to reduce greenhouse gas emissions by 50 percent from 2008 levels by the year 2050 and to reduce carbon footprints of their boats. Electric yachts are also becoming quite popular

What are the Key Factors Affecting Luxury Yacht Market Adversely?

Luxury Yacht Market is still Nascent in few regions

Talking about the emerging markets for luxury yachting like India, there is a lack of infrastructure even though there is a proven interest in boating. Owning a yacht in a nascent country can be a long and expensive process due to the heavy import tax. Another factor is the absence of cruising locations which is why people are not able to make the most out of owning a yacht in such markets.

However, with increased government participation to create yacht facilities and to invest in the yachting, the future looks bright and full of potential.

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Region Wise Insights

Europe dominates the market for Luxury Yachts followed by the North America region. With vast coastlines and a significant percentage of boating charter taking place in Mediterranean Sea, Europe has become a favorable nautical tourism hotspot. European countries such has Greece and Croatia have been witnessing a surge in tourists wanting to explore water adventures thus driving the growth of Global Luxury Yachts market

Analysis shows that the Asia Pacific region will become the fastest growing market for luxury yachts owing to an increase in number of ultra-wealthy households and fast pace growth of the developing economies.

Category-Wise Insights

Which age group prefers luxury yachts the most.

Millennials are the major drivers of Luxury Yacht demand

Generational trends are a powerful driver. Millennials prefer enjoying the yachting experience a lot differently from the generation X by emphasising more on everything that their self-owned vessels can do instead of being crazy about merely possessing it. They want to create unique experiences for themselves and their family. In the process, millennials have emerged as the major drivers of the Luxury Yacht demand and have slowly redefined the entire yachting industry.

Which Tour Type will have the Maximum Number of Travelers During Forecasted Period?

There will be a surge in the number of independent travellers

Rapid technological advancements in the last few years have made a large number of people quite comfortable with emerging technologies and they are now well equipped to adapt to change. Consequently, this has led to an increase in the number of independent travelers and is forecasted to only increase further.

Which Booking Channel do Tourists in the Market Place Prefer?

Online Booking Channels Lead the Booking Channel Segmentation

It usually takes a lot of time and effort to research and make a decision before purchasing something as luxurious as a yacht. However, the existence of online booking channels has unquestionably both sped up the procedure as well as offered clients access to more choices. People who make their bookings online prefer to compare prices, features, types and various other parameters among all available options to make the best possible choice.

Competitive Landscape

Key Players in the global luxury yacht market are Ferretti Group, Lurssen, Feadship, Princess Yachts, Sunseeker and all these companies dominate the market with a combined market share of about 60%. Additionally, the semi-custom luxury yacht market has seen a surge in demand in recent years which might be due to these categories of yachts offering a good balance of customization and off-the-shelf predictability and simplicity.

Scope of Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	USD Million for Value
Key Regions Covered	North America; Latin America; Asia Pacific; MEA; Europe
Key Countries Covered	United Kingdom, United States of America, India, Greece, Italy, Germany
Key Segments Covered	By Direct Suppliers, By Indirect Suppliers, By Number of Bookings, Type, Visit Purpose, Tour Type, Age group, Demographic
Report Coverage	Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives, Spending,
Customization & Pricing	Available upon Request

Luxury Yatch Market by Category

By direct suppliers:.

Hotel Companies
Tour Operators
Government Bodies

By Indirect Suppliers:

OTA (Online Travel Agency)
Traditional Travel Agencies
TMC's (Travel Management Companies)

By Number of Bookings:

Motor Yacht
Sailing Yacht
Others (Sports Yacht, Hybrid Yacht)

By Visit Purpose:

By tour type:.

Independent Traveler
Package Traveler

By Demographic:

By booking channel:.

Phone Booking
Online Booking
In Person Booking

Frequently Asked Questions

How big is the luxury yacht market.

The luxury yacht market size is valued at US$ 8,812.4 million in 2023.

What is the growth forecast for the luxury yacht market?

The luxury yacht market is projected to thrive at a 9% CAGR through 2033.

How big will be the luxury yacht market by 2033?

The luxury yacht market is predicted to surpass US$ 19,924.7 million by 2033.

Which booking channel is highly preferred in the luxury yacht market?

The online booking channel segment is likely to lead the luxury yacht market.

Which region dominates the luxury yacht market?

Europe dominates the global luxury yacht market.

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Luxury Yacht Global Market Report 2024

February 2024
Region: Global
The Business Research Company
ID: 5939310
Description

Executive summary.

Companies Mentioned

Methodology

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
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Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.
The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Report Scope

Companies mentioned (partial list).

A selection of companies mentioned in this report includes, but is not limited to:

Ferretti S.p.A
Azimut Benetti SpA
Sanlorenzo S.p.a
Princess Yachts Limited
Fr. Lürssen Werft GmbH & Co.KG
Italian Sea Group
Fincantieri S.p.A.
Sunseeker International
Brunswick Corporation
Maritimo Factory
A H Wadia Boat Builders
New Japan Yacht Co
Hyundai Yachts Co., Ltd
Riviera Australia Pty. Ltd
Australian Superyachts Pty Ltd
HeySea Yachts
Horizon Yacht
Cheoy Lee Shipyards Ltd
Changzhou Baote Yacht Co., Ltd
Fujian Yihong Yacht Corp
Hunan Blue Point Supply Chain Co., Ltd
Burgess Yachts
Damen Yachting
U-Boat Worx
Groupe Beneteau
Alva Yachts
Timeless Yachts
Hatteras Yachts
Westport Yachts
YMCA Yachting
Christensen Shipyards
Ocean Alexander
Alexander Marine USA
Viking Yacht Company
Quantum Sails
Michael Rybovich & Sons Boatworks
Burger Boat Company
Sterling Yachts
Fibrafort Shipyard
Delta Yachts
Flexboat Construções Náuticas Ltda.
Schaefer Yachts
Oryx Yachts
Majesty Yachts
Nomad Yachts
Moonday Yachts
Yerliyurt Marin
Robertson & Caine
Falcon Inflatables
Dean Catamarans
De Birs Yachts
Tiger Marine

Table Information

Report Attribute	Details
No. of Pages	175
Published	February 2024
Forecast Period	2024 - 2028
Estimated Market Value ( USD in 2024	$ 7.56 Billion
Forecasted Market Value ( USD by 2028	$ 10.76 Billion
Compound Annual Growth Rate	9.2%
Regions Covered	Global

Luxury Yacht

Yacht Global Market Report 2024

 Report

Luxury Yacht Global Market Opportunities and Strategies to 2032

October 2023

Luxury Yacht - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Global Luxury Yacht Market by Type (Motorized Luxury Yacht, Sailing Luxury Yacht), Size (121-250 Feet, 75-120 Feet, Above 250 Feet), Material, Application - Forecast 2024-2030

Luxury Yacht Market Report by Type (Sailing Luxury Yacht, Motorized Luxury Yacht, and Others), Size (75-120 Feet, 121-250 Feet, Above 250 Feet), Material (FRP/ Composites, Metal/ Alloys, and Others), Application (Commercial, Private), and Region 2024-2032

January 2024

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Luxury Yacht Market Size, Share, Growth Analysis, By Type(Sailing Luxury Yacht, Motorized Luxury Yacht, Others), By Size(75-120 feet, 121–250, above 250 feet), By Material(FRP/ Composites, Metal/ Alloys, others), By Application(Private, Commercial), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25P2017 | Region: Global | Published Date: February, 2024 Pages: 157 | Tables: 116 | Figures: 77

DESCRIPTION
TABLE OF CONTENTS
METHODOLOGY
ANALYST SUPPORT

Luxury Yacht Market Insights

Luxury Yacht Market size was valued at USD 8.4 billion in 2019 and is poised to grow from USD 8.91 billion in 2023 to USD 13.3 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

Luxury yachts are equipped with state-of-the-art amenities such as dance decks, swimming pools, jacuzzis, and spacious living areas. The luxury yacht market is growing at a rapid pace, with emergence of a large buyer pool to invest in a vessel that offers unparalleled luxury and convenience. Since, owing a yacht is often associated with wealth and prestige, it is one of the most popular choices between celebrities, and business magnates.

Some of the most popular luxury yacht brands in the market include Viking Yachts, Sunseeker International, and Costa Cruises. These companies have been able to capitalize on the growing demand for luxurious yachts by creating stunning vessels that are both technologically advanced and luxurious.

US Luxury Yacht Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 8.4 billion

Largest Segment

Fastest Growth

Fuel Powered

Growth Rate

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Luxury Yacht Market Segmental Analysis

Luxury Yacht Market is segmented by type, size, material and application. By type, the Luxury Yacht Market is segmented into sailing luxury yacht, motorized luxury yacht, and others. By size, the Luxury Yacht Market is classified into 75-120 feet, 121–250, and above 250 feet. By material, the Luxury Yacht Market is segmented into FRP/ composites, metal/ alloys, and others. By application, luxury yacht market is segmented into commercial and private.

Luxury Yacht Market Analysis by Type By type, the global luxury yacht market is dominated by sailing luxury yacht. sailing luxury yacht are in high demand than its counterparts for a number of reasons. The sailing luxury yacht market is booming and there is a high demand for these types of vessels. There are a number of reasons why this is the case, including the fact that they offer a unique and luxurious experience that cannot be found with other types of boats. In addition, sailing yachts are becoming increasingly popular choice as vacation homes due to their many benefits, such as the ability to explore different water areas without having to worry about mooring or anchoring.

One of the biggest reasons for the high demand for sailing luxury yachts is that they offer an unparalleled level of luxury. These vessels come with all amenities and features relevant to that of a five-star hotel, including opulent staterooms, gourmet kitchens, and spacious decks.

Another reason for the growing popularity of sailing yachts is that they offer owners the chance to explore new horizons. Unlike motorized vessels which need to stay close to shore in order to refuel or recharge batteries, sailships can travel vast distances without stopping.

Luxury Yacht Market Analysis by Application The private luxury yacht market has seen unprecedented growth in recent years, with a corresponding increase in demand for high-end vessels. This surge in popularity is largely due to the fact that yachting offers a unique and luxurious lifestyle that is unrivaled by any other leisure activity.

Private yachts offer access to high-end luxury and comfort. From five-star cuisine and world-class wines served by professional staff, to sumptuous staterooms with en-suite bathrooms and plasma TVs – everything on board a luxury yacht is designed to provide the ultimate in style and sophistication.

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Luxury Yacht Market Regional Insights

According to general report published by World Bank, Italy, the UK, and the Netherlands are the major producers of luxury yachts in Europe luxury yacht market. In terms of value, Italy leads the way with around €2 billion worth of production, followed by the UK at €1.6 billion and the Netherlands at 1.4 billion. The majority of yacht builders in these countries are concentrated in well-established maritime regions such as Tuscany, Sardinia and Puglia in Italy; Southampton and Plymouth in the UK; and Amsterdam and Zaandam in the Netherlands.

These companies in the global luxury yacht market have benefited from high-end orders in recent years, with a huge demand for luxury yachts remaining robust despite challenging economic conditions globally. A number of factors have contributed to this demand, including an increase in wealth among high-net-worth individuals, continued growth in the charter market and a rise in interest from emerging markets such as China and Russia.

Looking ahead, SkyQuest expects that Brexit will create some uncertainties for luxury yacht builders based in the UK but believes that overall demand for these vessels will remain strong. Indeed, many wealthy individuals are likely to continue to see yacht ownership as a status symbol and an efficient way to enjoy time on the water.

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Luxury Yacht Market Dynamics

Luxury Yacht Market Drivers:

Growing wealth and luxury interests in individuals is driving the market growth

There are many factors to drive the growing demand for luxury yacht market. First and foremost, among these is the increasing wealth of individuals around the world. As the number of millionaires and billionaires are rising they are looking for ways to spend their money, and luxury yachts are one of the most popular choices.
Another factor driving the demand is the increased publicity surrounding yacht ownership. In the recent years, celebrities and wealthy businesspeople have been flaunting their yacht ownership more than ever before. This has led to more people wanting to own a yacht, even if they can't necessarily afford one. Finally, there is simply an increased interest in sea travel overall. The cruise business is growing and witness a huge rise as a high number of people are cruising, which is translating into more sales for luxury yacht market.

Luxury Yacht Market Restraint

Geographical limitations and limited versions of premium products can limit the market growth

High prices, and lack of interest from buyers has slowed down the market expansion. Also, yacht business is geographically limited which limits the reginal market expansion.
Limited number of superyachts has led to high waiting period in the yacht industry thereby creating a limited demand at a global scale.

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Luxury Yacht Market Competitive Landscape

Even in the face of a global pandemic, the luxury yacht market has remained strong. Here are some of the ways that companies are sustaining in this market to stay competitive:

Offering customization : Many luxury yacht companies are now offering more customization options than ever before. This allows buyers to really make their yacht their own, and helps to create a sense of exclusivity.

Focusing on quality : In order to justify the high price tags, luxury yacht companies are focused on delivering quality boats that will stand the test of time. This attention to detail and craftsmanship is what sets these yachts apart from their mass-produced counterparts.

Providing an experience : It’s not just about the boat itself – it’s about the overall experience that comes with owning a luxury yacht. From concierge services to personalize itineraries, companies are making sure that their clients have a memorable experience from start to finish.

Luxury Yacht Market Top Player's Company Profiles

Azimut-Benetti
Ferretti Group
Sunseeker International
Princess Yachts
Lürssen
Heesen Yachts
Westport Yachts
Christensen Shipyards
Palmer Johnson Yachts
Beneteau Group
Hatteras Yachts
Horizon Yachts

Luxury Yacht Market Recent Developments

In July 2022, Sunreef Yachts announced a plan to open a ship building yard in Ras Al Khaimah
In June 2022, Sirena launched a fully customization 78-foot long Yacht

Luxury Yacht Key Market Trends

Rise in disposable income has led in spending on luxury items: In recent years, there has been a growing trend of wealthy individuals purchasing luxury yachts. This is due to a number of factors, including an increase in disposable income and a desire to own a status symbol.
Improved maritime economy to create more opportunities: Increase in demand from Asia owing to the economic growth in China and India. Availability of hospitality services in the cruise industry is one of the prominent trends in the Asia Pacific regional market.
Growing Demand from Corporates: Another trend that is driving the growth of the luxury yacht market is an increase in chartering activity. In recent years, there is a growing trend of renting out yachts for special occasions, such as weddings or corporate events.

Luxury Yacht Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

Luxury yacht market is booming. In the past decade, the industry witnessed a surge in popularity and investment. According to SkyQuest Technology, this is likely due to a number of factors, including increased interest in luxury travel and leisure activities, as well as an overall increase in the global wealth pool. Luxury yacht charters are becoming increasingly popular for weddings, corporate events, and other occasions.

Report Metric	Details
Market size value in 2019	USD 8.4 billion
Market size value in 2031	USD 13.3 billion
Growth Rate	5.8%
Base year	2023
Forecast period	2024-2031
Forecast Unit (Value)	USD Billion
Segments covered
Regions covered	North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
Customization scope	Free report customization with purchase. Customization includes:-

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

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Table Of Content

Executive Summary

Market overview

Exhibit: Executive Summary – Chart on Market Overview
Exhibit: Executive Summary – Data Table on Market Overview
Exhibit: Executive Summary – Chart on Luxury Yacht Market Characteristics
Exhibit: Executive Summary – Chart on Market by Geography
Exhibit: Executive Summary – Chart on Market Segmentation
Exhibit: Executive Summary – Chart on Incremental Growth
Exhibit: Executive Summary – Data Table on Incremental Growth
Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market size

Opportunities
SWOT Analysis

KEY MARKET INSIGHTS

(Exhibit: Data Table: Name of technology and details)
(Exhibit: Data Table: Name of technology and pricing details)
(Exhibit: Detailed Supply Chain Presentation)
(Exhibit: Detailed Value Chain Presentation)
Exhibit: Parent Market Ecosystem Market Analysis
Exhibit: Market Characteristics of Parent Market
(Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
(Exhibit: Data Table: Import and Export data details)
(Exhibit: Data Table: Emerging startups details)
(Exhibit: Data Table: Mapping of key raw materials)
(Exhibit: Positioning Matrix: Mapping of new and existing technologies)
(Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
Macroeconomic Indicators

COVID IMPACT

Introduction
Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
Exhibit: Data Table on Luxury Yacht Market size and forecast 2021-2027 ($ million)
Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

Exhibit: Data Table on regulation from different region
Exhibit: Competitive rivalry Impact of key factors, 2021
Exhibit: Threat of Substitute Products Impact of key factors, 2021
Exhibit: buyers bargaining power Impact of key factors, 2021
Exhibit: Threat of new entrants Impact of key factors, 2021
Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
Political Impact
Economic impact
Social Impact
Technical Impact
Environmental Impact
Legal Impact

Market Size by Region

Chart on Market share by geography 2021-2027 (%)
Data Table on Market share by geography 2021-2027(%)
Chart on Market share by country 2021-2027 (%)
Data Table on Market share by country 2021-2027(%)
Exhibit: Chart on Market share 2021-2027 (%)
Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

Exhibit: companies covered in the report, 2021
Exhibit: company positioning matrix, 2021
Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Luxury Yacht Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Luxury Yacht Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

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Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

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Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

Luxury Yacht Market Report Snapshots

Luxury Yacht Companies
Luxury Yacht Market Size
Luxury Yacht Market Analysis
Luxury Yacht Geographic Analysis
Luxury Yacht Market News

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Luxury Yacht Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Luxury Yacht Market Report is Segmented by Type (Sailing Luxury Yachts, Motorized Luxury Yachts, and Others), by Size (Up To 20 Meters, 20 To 50 Meters, and Above 50 Meters), by Application (Commercial and Private Use) and by Geography. The Report Offers Market Size and Forecasts for Luxury Yacht Market in USD Million for the Above Segments.

Luxury Yacht Market Size

Single User License

Team License

Corporate License

Study Period	2019 - 2029
Market Size (2024)	USD 13.66 Billion
Market Size (2029)	USD 21.20 Billion
CAGR (2024 - 2029)	9.30 %
Fastest Growing Market	Europe
Largest Market	Europe

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Luxury Yacht Market Analysis

The Luxury Yacht Market size is estimated at USD 13.66 billion in 2024, and is expected to reach USD 21.20 billion by 2029, growing at a CAGR of 9.30% during the forecast period (2024-2029).

Factors such as the increasing demand for competitive and recreational boating activities, the purchasing power of people, the emergence as a prominent destination for luxury yachts, and increasing tourist attractions and luxurious hotels are anticipated to drive the luxury yacht market. Moreover, technological advancements, innovative designs, and a commitment to environmental consciousness also drive the market.

With an increase in the income level of people living around the world, there is an increase in spending on recreational activities, which is driving the market.

For instance, the International Monetary Fund projects that China's economy will be nearly 40 percent larger by 2028. Similarly, in 2023, the recreation expenditure is expected to reach 552.8 billion in the United States. In addition, the natural landscape of countries that have a sea/ocean as a border, like the Netherlands, United Kingdom, and Italy, and increasing tourist attractions such as manmade islands skyscrapers in the United Arab Emirates attract a significant number of international tourists every year, especially from the affluent segment of the population. These countries are also preferred destinations for some promotional events and meetings, during which luxury yachts are leased. Therefore, the increase in recreational tourism is expected to positively influence the growth of the global luxury yacht market.

Furthermore, the luxury yacht market has entered the era of eco-consciousness. International Maritime Organization has directed international shipping to reduce CO2 emissions by 70% by 2050. As a result, builders and suppliers are working together to find sustainable solutions to reduce consumption at reasonable costs. Many high-net-worth and ultra-high-net-worth yacht owners are putting environmental impact first, spurring significant change in yacht building and innovation. This scenario has led to newer, lighter, and more fuel-efficient Yachts being developed and further deployed in the market.

Thus, the above factors, coupled with the deployment of new technologies in luxury yachts and high purchasing power, will drive market growth.

Luxury Yacht Market Trends

Sailing Luxury Yacht to fuel Market Demand

The target audience for the luxury yacht market is the ultra-rich individuals. The increasing number of high-net-worth individuals is expected to drive the market growth. According to Forbes, the United States recorded the highest number of billionaires at 735, followed by China (including Hong Kong and Macau)at 562. Moreover, the total number of billionaires has increased from 1665 in 2022 to 169 in 2023 in India.
According to the Bloomberg Billionaires Index, around 131 billionaires doubled their net worth during the pandemic. Additionally, the maximum number of ultra-high net worth individuals resided in the North American regions, and Europe is considered to be the fastest growing. Hence, with the global GDP on the rise and more billionaires stepping up, the luxury yacht market is expected to see a rise in the forecast period.
Moreover, celebrities, CEOs, and business tycoons are the primary customers of the luxury yacht market; many of them are investing in luxury yachts for recreational use. For instance, in June 2023, Billionaire Eric Schmidt won the auction to buy a luxury Superyacht, which also contains a helipad valued at USD 68 million.
The increase in the number of billionaires every year, coupled with an increase in wealth, which results in high purchasing power, will fuel the growth of the market.

Luxury Yacht Market: The 20 countries with the most billionaires in 2023

Europe is Expected to be the Market Leader

Europe is among the countries with one of the highest shares of billionaires globally and is considered to be the fastest growing in terms of billionaire's wealth. Scenic beauty countries like Greece and Italy are expected to be the market leader during the forecast period. A large number of tourists come to the region, and many parties are also organized on private yachts. Government initiatives to boost tourism in the region are the major factors for growth in the market.
For instance, in December 2022, the European Union Council approved the European Agenda for Tourism 2030 to make European tourism more digital and greener. Sales of Yachts in 2021 were high, and a rise in demand made it hold a new record for yachts in 2022, as 606 yachts were introduced in the market. Moreover, countries such as Greece, Croatia, Spain, Italy, and France are top tourist destinations, with the rise in fishing activities and water sports being the major driving factors.
Greece ranked 5th in the list of preferred European countries for the next trip among European travelers. There were approximately 30 million travelers visited Greece in 2022. However, in 2021, leisure travel generated the highest travel and tourism spending in Greece, accounting for 95 percent of the total expenditure. Furthermore companies are expanding their presence in the country to expand their market share. For instance,
In April 2023, Sea-Alliance, group announced the launched of it sister company in Greece. Through this expansion the company aims to cater the demand of the increasing demand of popular cruising destination in Greece. Sea-Alliance Group IKE is expected to provide yacht sales, yacht charter management, and yacht management. Furthermore, the company is also intends to use its marina management expertise to participate in upcoming public tenders in Greece.
Due to the rising trend of owing yachts among the ultra-rich, the European region is expected to witness significant growth in the forecast period.

Luxury Yacht Market, Growth Rate by Region, 2023 - 2028

Luxury Yacht Industry Overview

The Luxury Yacht market is fragmented, with several players accounting for significant amounts of shares in the market. Some of the prominent companies in the Luxury Yacht market are Sinot Yacht, Feadship, Fr. Lürssen Werft GmbH & Co.KG, Fincantieri Yachts, and ISA Yachts. Many players are investing in new technologies to gain the upper hand over their competition and focusing on new launches. For instance,

In December 2023, Italian shipyard Benetti has announced the launch of its latest 34.4-metre motor yacht from its shipyard in Viareggio, Known as White Rose, the 269GT. Powered by a pair of MTU engines, the yacht has a cruising speed of 14.5 knots, enabling a range of 1,500 nautical miles, and a top speed of 17 knots.
In August 2023, Turkish builder Mazu Yacht launched the first unit in its 28.5-metre Mazu 92 DS series.

Luxury Yacht Market Leaders

Fr. Lürssen Werft GmbH & Co.KG

Sinot Yacht Architecture and Design

Fincantieri Yachts

*Disclaimer: Major Players sorted in no particular order

Luxury Yacht Market News

October 2023: Four Seasons launched service to the ocean with the launch of Four Seasons Yachts, projected to sail in late 2025.
January 2023: Accor announced the launch of the world's largest luxury sailing ship in 2026. The megayacht will have 54 suits.

Luxury Yacht Market Report - Table of Contents

1. INTRODUCTION

1.1 Study Assumptions

1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

4.1 Market Drivers

4.1.1 Surge in Trend of Yacht Tourism

4.2 Market Restraints

4.2.1 Higher Rentals During Peak Season

4.3 Porter's Five Forces Analysis

4.3.1 Threat of New Entrants

4.3.2 Bargaining Power of Buyers/Consumers

4.3.3 Bargaining Power of Suppliers

4.3.4 Threat of Substitute Products

4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION (Market Size in Value USD)

5.1.1 Sailing Luxury Yacht

5.1.2 Motorized Luxury Yacht

5.1.3 Other Types

5.2 By Size

5.2.1 Up to 20 Meters

5.2.2 20 to 50 Meters

5.2.3 Above 50 Meters

5.3 Application

5.3.1 Commercial

5.3.2 Private

5.4 Geography

5.4.1 North America

5.4.1.1 United States

5.4.1.2 Canada

5.4.1.3 Rest of North America

5.4.2 Europe

5.4.2.1 Germny

5.4.2.2 Italy

5.4.2.3 United Kingdom

5.4.2.4 France

5.4.2.5 Rest of Europe

5.4.3 Asia-Pacific

5.4.3.1 India

5.4.3.2 China

5.4.3.3 Japan

5.4.3.4 South Korea

5.4.3.5 Rest of Asia-Pacific

5.4.4 Rest of the World

5.4.4.1 South America

5.4.4.2 Middle-East and Africa

6. COMPETITIVE LANDSCAPE

6.1 Vendor Market Share

6.2 Company Profiles*

6.2.1 Feadship

6.2.2 Fr. Lürssen Werft GmbH & Co.KG

6.2.3 ISA Yachts

6.2.4 Sinot Yacht Architecture and Design

6.2.5 Fincantieri Yachts

6.2.6 Oceanco Yacht

6.2.7 Nobiskurg

6.2.8 Sunseeker

6.2.9 Christensen

6.2.10 Amels

6.2.11 Royal Huisman

6.2.12 Nobiskrug Yacht GmBH

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

Luxury Yacht Industry Segmentation

A luxury yacht, often known as a superyacht or megayacht, is a big and opulent pleasure vessel used for recreation. These yachts are either rented or purchased by the ultra-rich or by a firm for its employees.

The luxury yacht market is segmented by type (sailing luxury yachts, motorized luxury yachts, and other types), by size (up to 20 meters, 20 to 50 meters, and above 50 meters), by application (commercial and private use), and by geography (North America, Europe, Asia-Pacific, and the Rest of the World).

The report offers market size and forecasts for the luxury yacht market in value (USD) for the above segments.

Type
		Sailing Luxury Yacht
		Motorized Luxury Yacht
		Other Types

By Size
		Up to 20 Meters
		20 to 50 Meters
		Above 50 Meters

Application
		Commercial
		Private

Geography

North America
	United States
	Canada
	Rest of North America

Europe
	Germny
	Italy
	United Kingdom
	France
	Rest of Europe

Asia-Pacific
	India
	China
	Japan
	South Korea
	Rest of Asia-Pacific

Rest of the World
	South America
	Middle-East and Africa

Luxury Yacht Market Research FAQs

How big is the luxury yacht market.

The Luxury Yacht Market size is expected to reach USD 13.66 billion in 2024 and grow at a CAGR of 9.30% to reach USD 21.20 billion by 2029.

What is the current Luxury Yacht Market size?

In 2024, the Luxury Yacht Market size is expected to reach USD 13.66 billion.

Who are the key players in Luxury Yacht Market?

Fr. Lürssen Werft GmbH & Co.KG, Sinot Yacht Architecture and Design, ISA Yachts, Fincantieri Yachts and Feadship are the major companies operating in the Luxury Yacht Market.

Which is the fastest growing region in Luxury Yacht Market?

Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).

Which region has the biggest share in Luxury Yacht Market?

In 2024, the Europe accounts for the largest market share in Luxury Yacht Market.

What years does this Luxury Yacht Market cover, and what was the market size in 2023?

In 2023, the Luxury Yacht Market size was estimated at USD 12.39 billion. The report covers the Luxury Yacht Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Luxury Yacht Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

What are the key challenges for the Luxury Yacht Industry?

Key Challenges in the Luxury Yacht Market are: a) High initial cost b) High maintenance expenses c) Fluctuating fuel prices, and d) Environmental concerns

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Luxury Yachts Industry Report

The global luxury yacht market is on a significant upswing, fueled by the growing interest of ultra-high-net-worth individuals in luxury cruising and yacht tourism. With a focus on exclusivity, advanced features, and luxurious amenities, luxury yachts serve both private and commercial purposes. The market sees a rising demand for motor yachts for their speed and spaciousness, while sailing yachts attract attention for their eco-friendliness and cost-effectiveness. The shift towards electrification highlights the industry's commitment to zero-emission, high-efficiency vessels, catering to the eco-conscious consumer. Supported by an increasing number of yacht shows and events that showcase innovations and strengthen industry connections, Europe and the Asia Pacific region emerge as significant markets, the latter being the fastest-growing due to rising disposable incomes and leisure interest. Despite environmental concerns, the industry's dedication to sustainable practices and compliance is poised to drive continuous growth. Statistics for the luxury yacht market share, size, and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Luxury yacht analysis includes a market forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.

Luxury Yacht Market Report Snapshots

Luxury Yacht Market Share
Luxury Yacht Companies

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US Luxury Yacht Market 2024–2033

Us luxury yacht market size, trends and insights by yachts type (motor yachts, sailing yachts, explorer yachts, sports yachts, others), by visit purpose (business, personal), by tour type (independent traveler, package traveler, tour group), by service providers (direct, indirect), and by region - industry overview, statistical data, competitive analysis, share, outlook, and forecast 2024–2033.

Report Code: CMI55061

Published Date: August 2024

Pages: 320+

Category: Automotive

Product Description

Table of Contents

Methodology
Key Players

Reports Description

As per the current market research conducted by the CMI Team, the US Luxury Yacht Market is expected to record a CAGR of 8.4% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 4,507.5 Million . By 2033, the valuation is anticipated to reach USD 9,315.3 Million .

The US luxury yacht market represents a segment of the maritime industry dedicated to high-end vessels designed for affluent individuals and corporations. Characterized by opulent amenities, advanced technological features, and bespoke craftsmanship, luxury yachts in the US cater to discerning clientele seeking exclusive maritime experiences.

From sleek motor yachts offering speed and comfort to elegant sailing yachts embracing traditional craftsmanship, these vessels range in size from smaller models to expansive mega yachts exceeding 100 feet. The market thrives on innovation, customization, and a strong infrastructure supporting yacht sales, charters, and related services across coastal regions and major waterways.

US Luxury Yacht Market – Significant Growth Factors

The US Luxury Yacht Market presents significant growth opportunities due to several factors:

High Net Worth Individuals (HNWIs) : The presence of a substantial number of HNWIs in the US drives demand for luxury yachts. These individuals seek exclusive and personalized maritime experiences, fueling the market for large, high-end vessels.
Technological Advancements : Continuous innovation in yacht design and engineering, including hybrid propulsion systems, advanced navigation tools, and state-of-the-art entertainment systems, attracts affluent buyers looking for cutting-edge amenities and eco-friendly options.
Rising Popularity of Yacht Chartering : The increasing preference for yacht chartering among affluent consumers provides a lucrative avenue for market growth. Charter companies offer flexibility and luxury, allowing individuals to experience yacht ownership without the full financial commitment.
Booming Coastal Real Estate Market : The robust growth in coastal real estate markets, particularly in desirable waterfront locations, encourages investment in luxury yachts as complementary assets for coastal living and recreation.
Expansion of Personalization and Customization : There is a growing opportunity to enhance yacht personalization, offering bespoke designs, customizable layouts, and unique features tailored to individual buyer preferences. This trend caters to the increasing demand for exclusive and personalized luxury experiences.
Integration of Sustainable Practices : Embracing sustainability in yacht manufacturing and operations presents an opportunity to attract environmentally conscious buyers. Opportunities include using eco-friendly materials, reducing carbon footprints, and adopting green technologies to meet regulatory standards and appeal to a socially responsible consumer base.

US Luxury Yacht Market – Mergers and Acquisitions

The US Luxury Yacht Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the US Luxury Yacht Market include:

In 2024, Mayla Hamburg, a new entrant in the luxury yacht market, unveils the ‘GT’, featuring versatile power options including diesel, gas, hybrid, and electric. With a carbon prepreg hull weighing just 3.8 tons, it achieves speeds of 50 to 100 knots. Amenities include a sundeck, BBQ, high-end audio, and sofa lounge.
In 2023, Sanlorenzo introduced Para Bellum, a 47-meter explorer yacht in its popular 460-500 EXP series. Powered by twin Caterpillar engines, it achieves a cruising speed of 13 knots. This addition underscores Sanlorenzo’s commitment to delivering high-performance and luxurious vessels in the explorer yacht segment.
In 2023, The Kadey-Krogen Group, based in Florida, acquired American Tugs of LaConner, Washington. Established in 1999, American Tugs is renowned for crafting high-quality coastal cruisers, having delivered over 250 yachts and commercial vessels from its 2,600 sq.m. facility, with a strong customer base in North America and Europe.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the US Luxury Yacht Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET



USD by 2033	USD n by 2033	USD by 2033

US Luxury Yacht Market – Significant Threats

The US Luxury Yacht Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

Economic Downturns : Economic recessions or fluctuations can lead to reduced consumer spending and investment in luxury goods like yachts, impacting sales, charter bookings, and overall market sentiment towards discretionary spending.
Geopolitical Instability : Political tensions, trade disputes, or international conflicts can disrupt global markets, affecting yacht sales to international buyers and the stability of charter operations. Uncertainty in geopolitical climates can deter potential buyers from making significant luxury purchases.
Regulatory Changes : Evolving environmental regulations and maritime laws may impose new compliance requirements or restrictions on yacht operations, impacting costs, operational flexibility, and the feasibility of certain yacht designs and technologies.
Seasonal Variability : The luxury yacht market is susceptible to seasonal demand fluctuations, with peak seasons (e.g., summer months) driving revenues while off-seasons may experience reduced bookings and revenue. Dependence on seasonal trends requires effective management of inventory and pricing strategies to mitigate revenue fluctuations.
Emerging Health Crises : Events like pandemics or health crises (e.g., COVID-19) can disrupt travel, reduce consumer confidence, and lead to cancellations of yacht charters and purchases, adversely affecting market stability, growth prospects, and the willingness of consumers to engage in luxury travel experiences.

Category-Wise Insights

By Yachts Type:

Motor Yachts : Motor yachts are luxury vessels propelled primarily by engines, offering speed, comfort, and stability. Trends include increasing demand for larger yachts with advanced propulsion systems, such as hybrid or eco-friendly engines, and luxurious amenities like onboard spas and entertainment areas.
Sailing Yachts : Sailing yachts utilize wind power for propulsion, appealing to enthusiasts of traditional sailing experiences. Trends include innovations in sail technology for enhanced performance, alongside modern comforts and eco-friendly designs to attract environmentally conscious buyers.
Explorer Yachts : Explorer yachts are designed for long-range cruising and adventure, equipped with robust navigation systems and storage for extended voyages. Trends involve a growing preference for explorer yachts with expedition capabilities, capable of navigating remote destinations while offering luxury accommodations and sustainability features.
Sports Yachts : Sports yachts emphasize speed, agility, and sleek design, catering to buyers interested in high-performance watercraft. Trends include advancements in hull design and lightweight materials for increased speed, along with luxurious interiors and state-of-the-art entertainment systems to appeal to sports enthusiasts and thrill-seekers.
Others : This category encompasses niche segments like classic yachts, catamarans, and custom-built vessels catering to unique buyer preferences. Trends include a rise in demand for custom-designed yachts tailored to specific lifestyle needs, incorporating innovative technology and artisanal craftsmanship to create bespoke maritime experiences.

By Visit Purpose

Business Purpose : Luxury yachts used for business purposes cater to corporate events, client entertainment, and executive retreats. Trends in this segment include the integration of advanced communication technologies, luxury amenities for hosting meetings and conferences onboard, and bespoke services tailored to corporate clientele. There is a growing demand for yachts equipped with business-friendly features and privacy for confidential discussions, reflecting a preference for exclusive and productive environments.
Personal Purpose : Yachts used for personal purposes in the US luxury yacht market are sought after for leisure, relaxation, and family gatherings. Trends include customizable layouts, wellness amenities like spas and gyms, and eco-friendly designs. Personal yachts also emphasize experiential luxury, offering unique onboard activities such as water sports, gourmet dining experiences, and personalized itineraries that cater to individual preferences and lifestyle aspirations.

By Tour Type

Independent Traveler : Independent travelers in the US luxury yacht market prefer personalized experiences and flexibility in their itineraries. They often charter yachts privately to explore destinations at their own pace, enjoying exclusive amenities and customized services tailored to their preferences. There is a rising demand among independent travelers for unique and immersive experiences, driving the market towards customizable yacht charters with luxury features like onboard spas, gourmet dining, and water sports facilities.
Package Traveler : Package travelers opt for pre-arranged luxury yacht experiences in the US, including accommodations, dining, and activities provided by yacht charter companies. This segment seeks convenience, curated itineraries, and inclusive luxury amenities aboard the yacht. There is a trend towards all-inclusive packages offering seamless luxury experiences, appealing to travelers seeking hassle-free arrangements and access to premium destinations with tailored onboard services such as private chefs and concierge services.
Tour Group : Tour groups in the US luxury yacht market consist of organized groups of travelers booking yacht charters collectively. These groups often include families, corporate retreats, or special interest groups seeking shared experiences and communal luxury aboard yachts. There is an increasing preference for bespoke group charters with specialized activities and events, such as themed cruises and corporate team-building retreats. Yacht charter companies are catering to this segment by offering tailored group packages and exclusive onboard entertainment options.

By Service Provider

Direct Service Providers : Direct service providers in the US luxury yacht market include yacht manufacturers, brokers, and charter companies that directly engage with yacht owners and clients. They offer services such as yacht sales, custom builds, maintenance, crew hiring, and personalized charter experiences. Trends indicate an increasing demand for bespoke services, eco-friendly solutions, and enhanced customer experiences driven by technological advancements and personalized luxury offerings.
Indirect Service Providers : Indirect service providers support the US luxury yacht market through ancillary services such as marina operators, yacht clubs, insurance providers, and legal services. These entities play crucial roles in facilitating yacht operations, ensuring compliance with regulations, and enhancing the overall yacht ownership and charter experience. Trends show a growing emphasis on sustainability initiatives, digital integration for improved customer service, and partnerships to enhance service offerings across the luxury yacht sector.

Report Scope


Market Size in 2024	USD 4,507.5 Million
Projected Market Size in 2033	USD 9,315.3 Million
Market Size in 2023	USD 4,158.2 Million
CAGR Growth Rate	8.4% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Yachts Type, Visit Purpose, Tour Type, Service Providers and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Country Scope	US
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

Competitive Landscape – US Luxury Yacht Market

The US Luxury Yacht Market is highly competitive, with a large number of manufacturers and retailers operating in the US. Some of the key players in the market include:

Ferretti Group
Azimut Yachts
Sunseeker International
Princess Yachts International
Benetti Yachts
Heesen Yachts
Riva Yachts
Hatteras Yachts
Viking Yachts
Marquis Yachts
Pershing Yachts

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

Emerging players like VanDutch and Wider Yachts have entered the luxury yacht market with innovative designs and technologies. VanDutch emphasizes sleek, performance-oriented yachts with a modern aesthetic, appealing to younger affluent buyers. Wider Yachts integrates hybrid propulsion and eco-friendly materials into its designs, targeting environmentally conscious consumers seeking sustainable luxury options.

Established leaders such as Ferretti Group, Azimut-Benetti, and Sunseeker dominate the US luxury yacht market through extensive product portfolios, global reach, and strong brand equity. They leverage decades of experience, craftsmanship, and technological innovation to offer diverse yacht models from motor yachts to mega yachts.

These key players maintain market dominance through continuous product innovation, strategic acquisitions, and a robust network of dealerships and service providers, ensuring comprehensive customer satisfaction and market leadership.

The US Luxury Yacht Market is segmented as follows:

By Yachts Type

Motor Yachts
Sailing Yachts
Explorer Yachts
Sports Yachts
Independent Traveler
Package Traveler

By Service Providers

1.1 Report Description and Scope
1.2 Research scope
1.3.1 Market Research Type
1.3.2 Market Research Methodology
2.1 US Luxury Yacht Market, (2024 – 2033) (USD Million)
2.2 US Luxury Yacht Market: snapshot
3.1 US Luxury Yacht Market: Market Dynamics
3.2.1 High Net Worth Individuals (HNWIs)
3.2.2 Technological Advancements
3.2.3 Rising Popularity of Yacht Chartering
3.2.4 Booming Coastal Real Estate Market
3.2.5 Expansion of Personalization and Customization
3.2.6 Integration of Sustainable Practices.
3.3 Market Restraints
3.4 Market Opportunities
3.5 Market Challenges
3.6 Porterâ€™s Five Forces Analysis
3.7.1 Market Attractiveness Analysis By Yachts Type
3.7.2 Market Attractiveness Analysis By Visit Purpose
3.7.3 Market Attractiveness Analysis By Tour Type
3.7.4 Market Attractiveness Analysis By Service Providers
4.1.1 US Luxury Yacht Market: company market share, 2023
4.2.1 Acquisitions & mergers
4.2.2 New Product launches
4.2.3 Agreements, partnerships, collaboration, and joint ventures
4.2.4 Research and development and Regional expansion
4.3 Price trend analysis
5.1.1 US Luxury Yacht Market Share, By Yachts Type, 2023 and 2033
5.2.1 US Luxury Yacht Market by Motor Yachts, 2024 – 2033 (USD Million)
5.3.1 US Luxury Yacht Market by Sailing Yachts, 2024 – 2033 (USD Million)
5.4.1 US Luxury Yacht Market by Explorer Yachts, 2024 – 2033 (USD Million)
5.5.1 US Luxury Yacht Market by Sports Yachts, 2024 – 2033 (USD Million)
5.6.1 US Luxury Yacht Market by Others, 2024 – 2033 (USD Million)
6.1.1 US Luxury Yacht Market Share, By Visit Purpose, 2023 and 2033
6.2.1 US Luxury Yacht Market by Business, 2024 – 2033 (USD Million)
6.3.1 US Luxury Yacht Market by Personal, 2024 – 2033 (USD Million)
7.1.1 US Luxury Yacht Market Share, By Tour Type, 2023 and 2033
7.2.1 US Luxury Yacht Market by Independent Traveler, 2024 – 2033 (USD Million)
7.3.1 US Luxury Yacht Market by Package Traveler, 2024 – 2033 (USD Million)
7.4.1 US Luxury Yacht Market by Tour Group, 2024 – 2033 (USD Million)
8.1.1 US Luxury Yacht Market Share, By Service Providers, 2023 and 2033
8.2.1 US Luxury Yacht Market by Direct, 2024 – 2033 (USD Million)
8.3.1 US Luxury Yacht Market by Indirect, 2024 – 2033 (USD Million)
9.1 US Luxury Yacht Market Regional Overview
9.2 US Luxury Yacht Market Share, by Region, 2023 & 2033 (USD Million)
9.3.1.1 North America US Luxury Yacht Market, by Country, 2024 – 2033 (USD Million)
9.4.1 North America US Luxury Yacht Market, by Yachts Type, 2024 – 2033 (USD Million)
9.5.1 North America US Luxury Yacht Market, by Visit Purpose, 2024 – 2033 (USD Million)
9.6.1 North America US Luxury Yacht Market, by Tour Type, 2024 – 2033 (USD Million)
9.7.1 North America US Luxury Yacht Market, by Service Providers, 2024 – 2033 (USD Million)
9.8.1.1 Europe US Luxury Yacht Market, by Country, 2024 – 2033 (USD Million)
9.9.1 Europe US Luxury Yacht Market, by Yachts Type, 2024 – 2033 (USD Million)
9.10.1 Europe US Luxury Yacht Market, by Visit Purpose, 2024 – 2033 (USD Million)
9.11.1 Europe US Luxury Yacht Market, by Tour Type, 2024 – 2033 (USD Million)
9.12.1 Europe US Luxury Yacht Market, by Service Providers, 2024 – 2033 (USD Million)
9.13.1.1 Asia Pacific US Luxury Yacht Market, by Country, 2024 – 2033 (USD Million)
9.14.1 Asia Pacific US Luxury Yacht Market, by Yachts Type, 2024 – 2033 (USD Million)
9.15.1 Asia Pacific US Luxury Yacht Market, by Visit Purpose, 2024 – 2033 (USD Million)
9.16.1 Asia Pacific US Luxury Yacht Market, by Tour Type, 2024 – 2033 (USD Million)
9.17.1 Asia Pacific US Luxury Yacht Market, by Service Providers, 2024 – 2033 (USD Million)
9.18.1.1 Latin America US Luxury Yacht Market, by Country, 2024 – 2033 (USD Million)
9.19.1 Latin America US Luxury Yacht Market, by Yachts Type, 2024 – 2033 (USD Million)
9.20.1 Latin America US Luxury Yacht Market, by Visit Purpose, 2024 – 2033 (USD Million)
9.21.1 Latin America US Luxury Yacht Market, by Tour Type, 2024 – 2033 (USD Million)
9.22.1 Latin America US Luxury Yacht Market, by Service Providers, 2024 – 2033 (USD Million)
9.23.1.1 The Middle-East and Africa US Luxury Yacht Market, by Country, 2024 – 2033 (USD Million)
9.24.1 The Middle-East and Africa US Luxury Yacht Market, by Yachts Type, 2024 – 2033 (USD Million)
9.25.1 The Middle-East and Africa US Luxury Yacht Market, by Visit Purpose, 2024 – 2033 (USD Million)
9.26.1 The Middle-East and Africa US Luxury Yacht Market, by Tour Type, 2024 – 2033 (USD Million)
9.27.1 The Middle-East and Africa US Luxury Yacht Market, by Service Providers, 2024 – 2033 (USD Million)
10.1.1 Overview
10.1.2 Financials
10.1.3 Product Portfolio
10.1.4 Business Strategy
10.1.5 Recent Developments
10.2.1 Overview
10.2.2 Financials
10.2.3 Product Portfolio
10.2.4 Business Strategy
10.2.5 Recent Developments
10.3.1 Overview
10.3.2 Financials
10.3.3 Product Portfolio
10.3.4 Business Strategy
10.3.5 Recent Developments
10.4.1 Overview
10.4.2 Financials
10.4.3 Product Portfolio
10.4.4 Business Strategy
10.4.5 Recent Developments
10.5.1 Overview
10.5.2 Financials
10.5.3 Product Portfolio
10.5.4 Business Strategy
10.5.5 Recent Developments
10.6.1 Overview
10.6.2 Financials
10.6.3 Product Portfolio
10.6.4 Business Strategy
10.6.5 Recent Developments
10.7.1 Overview
10.7.2 Financials
10.7.3 Product Portfolio
10.7.4 Business Strategy
10.7.5 Recent Developments
10.8.1 Overview
10.8.2 Financials
10.8.3 Product Portfolio
10.8.4 Business Strategy
10.8.5 Recent Developments
10.9.1 Overview
10.9.2 Financials
10.9.3 Product Portfolio
10.9.4 Business Strategy
10.9.5 Recent Developments
10.10.1 Overview
10.10.2 Financials
10.10.3 Product Portfolio
10.10.4 Business Strategy
10.10.5 Recent Developments
10.11.1 Overview
10.11.2 Financials
10.11.3 Product Portfolio
10.11.4 Business Strategy
10.11.5 Recent Developments
10.12.1 Overview
10.12.2 Financials
10.12.3 Product Portfolio
10.12.4 Business Strategy
10.12.5 Recent Developments
10.13.1 Overview
10.13.2 Financials
10.13.3 Product Portfolio
10.13.4 Business Strategy
10.13.5 Recent Developments
10.14.1 Overview
10.14.2 Financials
10.14.3 Product Portfolio
10.14.4 Business Strategy
10.14.5 Recent Developments
10.15.1 Overview
10.15.2 Financials
10.15.3 Product Portfolio
10.15.4 Business Strategy
10.15.5 Recent Developments
10.16.1 Overview
10.16.2 Financials
10.16.3 Product Portfolio
10.16.4 Business Strategy
10.16.5 Recent Developments

List Of Figures

Figures No 1 to 30

List Of Tables

Tables No 1 to 102

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2033

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them. Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Market Analysis Matrix

Prominent Player

1 . Which are the driving factors of the US Luxury Yacht Market?

The key factors driving the Market are High Net Worth Individuals (HNWIs), Technological Advancements, Rising Popularity of Yacht Chartering, Booming Coastal Real Estate Market, Expansion of Personalization and Customization, Integration of Sustainable Practices.

2 . Which type led the US Luxury Yacht market?

The “Motor Yachts” category dominated the market in 2023.

3 . Who are the key players in the US Luxury Yacht market?

The key players in the market are Ferretti Group, Azimut Yachts, Sunseeker International, Princess Yachts International, Benetti Yachts, Lürssen, Feadship, Heesen Yachts, Oceanco, Sanlorenzo, Riva Yachts, Hatteras Yachts, Viking Yachts, Marquis Yachts, Pershing Yachts, Others.

4 . What is the growth rate of the US Luxury Yacht market?

The market is projected to grow at a CAGR of 8.4% during the forecast period, 2024-2033.

5 . How much is the US Luxury Yacht market?

The US Luxury Yacht Market size was valued at USD 4,507.5 Million in 2024.

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Luxury Yacht Market

Luxury Yacht Market Size, Share & Segmentation by Material (Metals & Alloys, Fiber Reinforced Polymers & Composites, Others), by Type (Motorized Luxury Yacht, Sailing Luxury Yacht, Other Luxury Yacht), by Size (121-250 feet, 75-120 feet, Above 250 feet), by Application (Personal Use, Commercial Use), by Regions and Global Forecast 2024-2032

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Luxury Yacht Market Size & Overview:

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The Luxury Yacht Market size was USD 7.36 billion in 2023 and is expected to Reach USD 15.16 billion by 2032 and grow at a CAGR of 8.35% over the forecast period of 2024-2032.

The luxury yacht market is evolving with a focus on incorporating advanced features for enhanced performance and customer experience. Manufacturing processes have shifted towards using composites due to benefits like corrosion resistance. Europe anticipates significant market growth, driven by a rising number of High-Net-Worth Individuals and technological advancements in yachts. Despite the initial impact of the COVID-19 pandemic, the yacht market has shown resilience, with increased interest in leisure activities. The industry sees a surge in technological innovations, including 3D printing . The growth is also influenced by the increasing number of Ultra-High Net-Worth Individuals and a global rise in recreational spending.

The luxury yacht market is evolving with a focus on incorporating advanced features for enhanced performance and customer experience. Manufacturing processes have shifted towards using composites due to benefits like corrosion resistance. Europe anticipates significant market growth, driven by a rising number of High-Net-Worth Individuals and technological advancements in yachts. Despite the initial impact of the COVID-19 pandemic, the yacht market has shown resilience, with increased interest in leisure activities. The industry sees a surge in technological innovations, including 3D printing. The growth is also influenced by the increasing number of Ultra-High Net-Worth Individuals and a global rise in recreational spending.

MARKET DYNAMICS

Key drivers:.

The market growth is driven by the increasing number of yacht shows and events

Yacht shows and events are essential drivers of the luxury yacht market's growth, acting as dynamic spaces that bring together key players, showcase innovations, and create an atmosphere of excitement and exclusivity. These gatherings serve as meeting points for creativity, economic opportunities, and luxury experiences, influencing both buyers and sellers. Luxury yacht manufacturers seize the chance to unveil their newest models and innovations, presenting cutting-edge technology and designs that set industry trends. These events are significant occasions where the industry's pulse is felt, shaping the direction of the market and creating a platform for networking, business opportunities, and the introduction of groundbreaking features.

Product demand is on the rise due to increased number of Ultra-high Net Worth Individuals ( UHNWIs)
Environmental concerns to hamper market growth associated with yachting activities

Luxury yachts exert a notable influence on marine ecosystems, particularly in busy waterways. Their presence can contribute to environmental issues such as the proliferation of algae and sedimentation, obstructing solar radiation and deteriorating water quality, thereby affecting marine life. Sediments accumulated on yachts can alter water chemistry, leading to either alkalinity or acidity. Moreover, the chemicals utilized in yacht maintenance, operation, and protection can contaminate the water, causing harm to wildlife and disrupting the ecosystem. Given that freshwater sources are often used for drinking and fishing, these toxins in freshwater can pose risks to both marine life and human well-being.

OPPORTUNITY:

Opportunities for manufacturers are provided by continuing innovation in yacht design, materials and technology

CHALLENGES:

The maintenance cost of luxury yachts is high, which can be a deterrent for potential buyers

Impact Of Russia Ukraine War

The russia-ukraine war has introduced uncertainty into the luxury yacht market, influencing consumer confidence and market dynamics. economic instability, supply chain disruptions, and changing consumer priorities amid geopolitical tensions can impact manufacturing, pricing, and demand for luxury yachts. the extent of the impact may vary regionally, and ongoing developments in the conflict could further shape market trends. impact of economic slowdown.

An economic slowdown poses challenges for the luxury yacht market as high-net-worth individuals may curtail spending, impacting sales and consumer confidence. Reduced demand, potential delays in purchases, and financing constraints can disrupt the industry. Manufacturers and dealers must adapt strategies, consider pricing structures, and emphasize value propositions to navigate the adverse effects of economic downturns and sustain market resilience.

KEY MARKET SEGMENTS

By Material

Metals & Alloys

Fiber Reinforced Polymers & Composites

The Luxury Yacht Market, segmented by hull material into fiber reinforced polymers & composites, metals & alloys, and others, saw the fiber reinforced polymers & composites segment dominating in 2022. This was driven by their exceptional strength-to-weight ratio, surpassing traditional metals like steel. Fiber reinforced polymers and composites offer equivalent or greater strength and stiffness while significantly reducing weight. Widely used in sectors such as wind energy, aerospace, and automotive, these materials contribute to enhanced energy performance by lowering overall weight in various applications, solidifying their pivotal role in the luxury yacht industry.

By Type

Motorized Luxury Yacht

Sailing Luxury Yacht

Other Luxury Yacht

The Luxury Yacht Market is categorized by type, encompassing sailing luxury yachts, motorized luxury yachts, and other luxury yachts. With a share of over 80 % in 2022, the yacht motor segment dominated the worldwide market for luxury boats. The advantages offered by these ships, such as their speed and power, the strong coverage over a wide range of distances, can also be attributed to this segment's significant share. These luxury motor yachts provide a unique and lavish means of travel and relaxation. Owners can venture to distant destinations, indulge in private retreats, and host exclusive events and parties onboard. The demand for motorized luxury yachts is fueled by the allure of exploring the expansive sea in opulent comfort, making them a sought-after choice for those seeking a premium maritime experience.

121-250 feet

75-120 feet

Above 250 feet

The Luxury Yacht Market is segmented by size, with categories including 75-120 feet, 121-250 feet, and above 250 feet. In 2022, the 121-250 feet category emerged as the top revenue generator with the market share of 71% . Yachts within the 121-250 feet range are hailed as the epitome of luxury, success, and social prestige. These superyachts attract ultra-high-net-worth individuals seeking to showcase their wealth and accomplishments due to their exclusivity. Considered a symbol of opulence, yachts in this size range are favored by those who desire a vessel that reflects not only their affluence but also their discerning taste for unparalleled luxury and grandeur.

REGIONAL ANALYSIS

Europe stood out as the dominant player in 2022, commanding a significant market share of 45 %. This supremacy can be attributed to Europe's rich maritime legacy, deeply rooted in a historical tradition of sailing and shipbuilding. The enduring legacy of luxury yacht production and design expertise across the European continent remains a pivotal factor fueling the sustained demand for high-end yachts. This allure extends to a diverse clientele, encompassing both domestic enthusiasts and international buyers.

Within Europe, the German Luxury Yacht market emerged as the frontrunner, securing the largest market share and underscoring the nation's prominence in the luxury yacht sector. Meanwhile, the UK Luxury Yacht market exhibited remarkable growth, earning recognition as the fastest-growing market in the European region.

The North America Luxury Yacht Market holds the second-largest market share, driven by the region's emphasis on leisure, entertainment, and recreational pursuits. The stunning coastlines and canals in North America offer an attractive backdrop for affluent individuals who frequently rent boats for leisure and pleasure. Notably, the U.S. Luxury Yacht market dominates this sector, claiming the largest market share, while the Canada Luxury Yacht market emerges as the fastest-growing market within the North American region.

Anticipated to exhibit the fastest Compound Annual Growth Rate from 2023 to 2030, the Asia-Pacific Luxury Yacht Market is poised for significant expansion. The rapid economic growth in the Asia-Pacific region has led to an increasing middle class and a rise in high-net-worth individuals. As income levels in the region elevate, so does the demand for luxury goods, including luxury yachts. In this context, China's Luxury Yacht market takes the lead by holding the largest market share, and the Indian Luxury Yacht market stands out as the fastest-growing market in the Asia-Pacific region.

Luxury-Yacht-Market-Regional-Analysis--2023

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REGIONAL COVERAGE:

North America

Eastern Europe

Rest of Eastern Europe

Western Europe

Netherlands

Switzerland

Rest of Western Europe

Asia Pacific

South Korea

Rest of Asia Pacific

Middle East & Africa

Middle East

Saudi Arabia

Rest of Middle East

South Africa

Rest of Africa

Latin America

Rest of Latin America

Key Players

Some of the major players in the Luxury Yacht Market are Viking Yacht Company , Sanlorenzo Spa, Alexander Marine Co Ltd, Horizon Yacht , Sunseeker International Limited, Princess Yachts International plc , Damen Shipyards Group, Lurssen , Azimut Benetti S.p.A, Ferretti S.p.A and other players.

RECENT TRENDS

December 13, 2023, Lurssen has recently started the final stages of construction of its latest masterpiece, Project Ali Baba, at its Hamburg facility, in a move that underlines its reputation as a pioneer in luxury yacht construction. The project, which was shrouded in secrecy and anticipation, is about to make itself a new benchmark for the luxury yacht industry.

Ferretti S.P.A . acquired a production site with an area of over 70 000 square feet at Ravenna, Italy, on March 23, 2023. An initial investment amounting to about EUR 40 million has been made in the acquisition.

Research Methodology Used For Study of Luxury Yacht Market

Quantitative Analysis:

We collected and analyzed extensive datasets from surveys and social media sentiment analysis. This method facilitated a statistical understanding of market trends and consumer preferences, forming the basis for numerical representations in the report.

Qualitative Analysis:

Conducted in-depth research to explore consumer emotions and preferences deeply. The qualitative insights complemented quantitative data, offering a holistic view of consumer sentiments within the luxury yacht market.

Cross-Industry Benchmarking:

Compared the luxury yacht market with high-end automotive and hospitality industries to identify trends and potential areas for innovation. This cross-industry analysis contributed to a multidimensional perspective on emerging technologies and design trends in the report.

Frequently Asked Questions

Ans:- The market size is expected to reach USD 57.24 billion by 2028.

Ans:- A recreational boat used for tourism and pleasure is known as a leisure boat.

Ans:- New commercial potential & number of boat clubs and memberships are projected to rise are the most promising aspects/opportunities of the leisure boat market.

Ans:- North American region is anticipated to be the primary driver of the market.

TABLE OF CONTENTS

1. Introduction

1.1 Market Definition

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 Covid-19 Impact Analysis

4.2 Impact Of Russia Ukraine Crisis

4.3 Impact of Economic Slowdown on Major Countries

4.3.1 Introduction

4.3.2 United States

4.3.3 Canada

4.3.4 Germany

4.3.5 France

4.3.7 China

4.3.8 Japan

4.3.9 South Korea

4.3.10 India

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. Pest Analysis

8. Luxury Yacht Market Segmentation, By Material

8.1 Introduction

8.2 Trend Analysis

8.3 Metals & Alloys

8.4 Fiber Reinforced Polymers & Composites

9. Luxury Yacht Market Segmentation, By Type

9.1 Introduction

9.2 Trend Analysis

9.3 Motorized Luxury Yacht

9.4 Sailing Luxury Yacht

9.5 Other Luxury Yacht

10. Luxury Yacht Market Segmentation, By Application

10.1 Introduction

10.2 Trend Analysis

10.3 121-250 feet

10.4 75-120 feet

10.5 Above 250 feet

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 Trend Analysis

11.2.2 North America Luxury Yacht Market by Country

11.2.3 North America Luxury Yacht Market By Material

11.2.4 North America Luxury Yacht Market By Type

11.2.5 North America Luxury Yacht Market by Application

11.2.6.1 USA Luxury Yacht Market By Material

11.2.6.2 USA Luxury Yacht Market By Type

11.2.6.3 USA Luxury Yacht Market by Application

11.2.7 Canada

11.2.7.1 Canada Luxury Yacht Market By Material

11.2.7.2 Canada Luxury Yacht Market By Type

11.2.7.3 Canada Luxury Yacht Market By Application

11.2.8 Mexico

11.2.8.1 Mexico Luxury Yacht Market By Material

11.2.8.2 Mexico Luxury Yacht Market By Type

11.2.8.3 Mexico Luxury Yacht Market by Application

11.3 Europe

11.3.1 Trend Analysis

11.3.2 Eastern Europe

11.3.3.1 Eastern Europe Luxury Yacht Market by Country

11.3.3.2 Eastern Europe Luxury Yacht Market By Material

11.3.3.3 Eastern Europe Luxury Yacht Market By Type

11.3.3.4 Eastern Europe Luxury Yacht Market By Application

11.3.3.5 Poland

11.3.3.5.1 Poland Luxury Yacht Market By Material

11.3.3.5.2 Poland Luxury Yacht Market By Type

11.3.3.5.3 Poland Luxury Yacht Market by Application

11.3.3.6 Romania

11.3.3.6.1 Romania Luxury Yacht Market By Material

11.3.3.6.2 Romania Luxury Yacht Market By Type

11.3.3.6.4 Romania Luxury Yacht Market By Application

11.3.3.7 Turkey

11.3.3.7.1 Turkey Luxury Yacht Market By Material

11.3.3.7.2 Turkey Luxury Yacht Market By Type

11.3.3.7.3 Turkey Luxury Yacht Market By Application

11.3.3.8 Rest of Eastern Europe

11.3.3.8.1 Rest of Eastern Europe Luxury Yacht Market By Material

11.3.3.8.2 Rest of Eastern Europe Luxury Yacht Market By Type

11.3.3.8.3 Rest of Eastern Europe Luxury Yacht Market By Application

11.3.3 Western Europe

11.3.3.1 Western Europe Luxury Yacht Market by Country

11.3.3.2 Western Europe Luxury Yacht Market By Material

11.3.3.3 Western Europe Luxury Yacht Market By Type

11.3.3.4 Western Europe Luxury Yacht Market By Application

11.3.3.5 Germany

11.3.3.5.1 Germany Luxury Yacht Market By Material

11.3.3.5.2 Germany Luxury Yacht Market By Type

11.3.3.5.3 Germany Luxury Yacht Market By Application

11.3.3.6 France

11.3.3.6.1 France Luxury Yacht Market By Material

11.3.3.6.2 France Luxury Yacht Market By Type

11.3.3.6.3 France Luxury Yacht Market By Application

11.3.3.7 UK

11.3.3.7.1 UK Luxury Yacht Market By Material

11.3.3.7.2 UK Luxury Yacht Market By Type

11.3.3.7.3 UK Luxury Yacht Market By Application

11.3.3.8 Italy

11.3.3.8.1 Italy Luxury Yacht Market By Material

11.3.3.8.2 Italy Luxury Yacht Market By Type

11.3.3.8.3 Italy Luxury Yacht Market By Application

11.3.3.9 Spain

11.3.3.9.1 Spain Luxury Yacht Market By Material

11.3.3.9.2 Spain Luxury Yacht Market By Type

11.3.3.9.3 Spain Luxury Yacht Market By Application

11.3.3.10 Netherlands

11.3.3.10.1 Netherlands Luxury Yacht Market By Material

11.3.3.10.2 Netherlands Luxury Yacht Market By Type

11.3.3.10.3 Netherlands Luxury Yacht Market by Application

11.3.3.11 Switzerland

11.3.3.11.1 Switzerland Luxury Yacht Market By Material

11.3.3.11.2 Switzerland Luxury Yacht Market By Type

11.3.3.11.3 Switzerland Luxury Yacht Market By Application

11.3.3.1.12 Austria

11.3.3.12.1 Austria Luxury Yacht Market By Material

11.3.3.12.2 Austria Luxury Yacht Market By Type

11.3.3.12.3 Austria Luxury Yacht Market By Application

11.3.3.13 Rest of Western Europe

11.3.3.13.1 Rest of Western Europe Luxury Yacht Market By Material

11.3.3.13.2 Rest of Western Europe Luxury Yacht Market By Type

11.3.3.13.3 Rest of Western Europe Luxury Yacht Market By Application

11.4 Asia-Pacific

11.4.1 Trend Analysis

11.4.2 Asia-Pacific Luxury Yacht Market by country

11.4.3 Asia-Pacific Luxury Yacht Market By Material

11.4.4 Asia-Pacific Luxury Yacht Market By Type

11.4.5 Asia-Pacific Luxury Yacht Market By Application

11.4.6 China

11.4.6.1 China Luxury Yacht Market By Material

11.4.6.2 China Luxury Yacht Market By Type

11.4.6.3 China Luxury Yacht Market by Application

11.4.7 India

11.4.7.1 India Luxury Yacht Market By Material

11.4.7.2 India Luxury Yacht Market By Type

11.4.7.3 India Luxury Yacht Market By Application

11.4.8 Japan

11.4.8.1 Japan Luxury Yacht Market By Material

11.4.8.2 Japan Luxury Yacht Market By Type

11.4.8.3 Japan Luxury Yacht Market By Application

11.4.9 South Korea

11.4.9.1 South Korea Luxury Yacht Market By Material

11.4.9.2 South Korea Luxury Yacht Market By Type

11.4.9.3 South Korea Luxury Yacht Market By Application

11.4.10 Vietnam

11.4.10.1 Vietnam Luxury Yacht Market By Material

11.4.10.2 Vietnam Luxury Yacht Market By Type

11.4.10.3 Vietnam Luxury Yacht Market By Application

11.4.11 Singapore

11.4.11.1 Singapore Luxury Yacht Market By Material

11.4.11.2 Singapore Luxury Yacht Market By Type

11.4.11.3 Singapore Luxury Yacht Market By Application

11.4.12 Australia

11.4.12.1 Australia Luxury Yacht Market By Material

11.4.12.2 Australia Luxury Yacht Market By Type

11.4.12.3 Australia Luxury Yacht Market By Application

11.4.13 Rest of Asia-Pacific

11.4.13.1 Rest of Asia-Pacific Luxury Yacht Market By Material

11.4.13.2 Rest of Asia-Pacific Luxury Yacht Market By Type

11.4.13.3 Rest of Asia-Pacific Luxury Yacht Market by Application

11.5 Middle East & Africa

11.5.1 Trend Analysis

11.5.2 Middle East

11.5.2.1 Middle East Luxury Yacht Market by Country

11.5.2.2 Middle East Luxury Yacht Market By Material

11.5.2.3 Middle East Luxury Yacht Market By Type

11.5.2.4 Middle East Luxury Yacht Market By Application

11.5.2.5 UAE

11.5.2.5.1 UAE Luxury Yacht Market By Material

11.5.2.5.2 UAE Luxury Yacht Market By Type

11.5.2.5.3 UAE Luxury Yacht Market By Application

11.5.2.6 Egypt

11.5.2.6.1 Egypt Luxury Yacht Market By Material

11.5.2.6.2 Egypt Luxury Yacht Market By Type

11.5.2.6.3 Egypt Luxury Yacht Market By Application

11.5.2.7 Saudi Arabia

11.5.2.7.1 Saudi Arabia Luxury Yacht Market By Material

11.5.2.7.2 Saudi Arabia Luxury Yacht Market By Type

11.5.2.7.3 Saudi Arabia Luxury Yacht Market By Application

11.5.2.8 Qatar

11.5.2.8.1 Qatar Luxury Yacht Market By Material

11.5.2.8.2 Qatar Luxury Yacht Market By Type

11.5.2.8.3 Qatar Luxury Yacht Market By Application

11.5.2.9 Rest of Middle East

11.5.2.9.1 Rest of Middle East Luxury Yacht Market By Material

11.5.2.9.2 Rest of Middle East Luxury Yacht Market By Type

11.5.2.9.3 Rest of Middle East Luxury Yacht Market By Application

11.5.3 Africa

11.5.3.1 Africa Luxury Yacht Market by Country

11.5.3.2 Africa Luxury Yacht Market By Material

11.5.3.3 Africa Luxury Yacht Market By Type

11.5.3.4 Africa Luxury Yacht Market By Application

11.5.3.5 Nigeria

11.5.3.5.1 Nigeria Luxury Yacht Market By Material

11.5.3.5.2 Nigeria Luxury Yacht Market By Type

11.5.3.5.3 Nigeria Luxury Yacht Market By Application

11.5.3.6 South Africa

11.5.3.6.1 South Africa Luxury Yacht Market By Material

11.5.3.6.2 South Africa Luxury Yacht Market By Type

11.5.3.6.3 South Africa Luxury Yacht Market By Application

11.5.3.7 Rest of Africa

11.5.3.7.1 Rest of Africa Luxury Yacht Market By Material

11.5.3.7.2 Rest of Africa Luxury Yacht Market By Type

11.5.3.7.3 Rest of Africa Luxury Yacht Market by Application

11.6 Latin America

11.6.1 Trend Analysis

11.6.2 Latin America Luxury Yacht Market by country

11.6.3 Latin America Luxury Yacht Market By Material

11.6.4 Latin America Luxury Yacht Market By Type

11.6.5 Latin America Luxury Yacht Market by Application

11.6.6 Brazil

11.6.6.1 Brazil Luxury Yacht Market By Material

11.6.6.2 Brazil Luxury Yacht Market By Type

11.6.6.3 Brazil Luxury Yacht Market by Application

11.6.7 Argentina

11.6.7.1 Argentina Luxury Yacht Market By Material

11.6.7.2 Argentina Luxury Yacht Market By Type

11.6.7.3 Argentina Luxury Yacht Market by Application

11.6.8 Colombia

11.6.8.1 Colombia Luxury Yacht Market By Material

11.6.8.2 Colombia Luxury Yacht Market By Type

11.6.8.3 Colombia Luxury Yacht Market by Application

11.6.9 Rest of Latin America

11.6.9.1 Rest of Latin America Luxury Yacht Market By Material

11.6.9.2 Rest of Latin America Luxury Yacht Market By Type

11.6.9.3 Rest of Latin America Luxury Yacht Market by Application

12. Company Profiles

12.1 Nichia Corporation

12.1.1 Company Overview

12.1.2 Financial

12.1.3 Products/ Services Offered

12.1.4 SWOT Analysis

12.1.5 The SNS View

12.2 Samsung Electronics

12.2.1 Company Overview

12.2.2 Financial

12.2.3 Products/ Services Offered

12.2.4 SWOT Analysis

12.2.5 The SNS View

12.3 NXP Semiconductor

12.3.1 Company Overview

12.3.2 Financial

12.3.3 Products/ Services Offered

12.3.4 SWOT Analysis

12.3.5 The SNS View

12.4 Infineon Technologies

12.4.1 Company Overview

12.4.2 Financial

12.4.3 Products/ Services Offered

12.4.4 SWOT Analysis

12.4.5 The SNS View

12.5 Taiwan Semiconductor

12.5.1 Company Overview

12.5.2 Financial

12.5.3 Products/ Services Offered

12.5.4 SWOT Analysis

12.5.5 The SNS View

12.6.1 Company Overview

12.6.2 Financial

12.6.3 Products/ Services Offered

12.6.4 SWOT Analysis

12.6.5 The SNS View

12.7.1 Company Overview

12.7.2 Financial

12.7.3 Products/ Services Offered

12.7.4 SWOT Analysis

12.7.5 The SNS View

12.8 Renesas Electronics Corporation

12.8.1 Company Overview

12.8.2 Financial

12.8.3 Products/ Services Offered

12.8.4 SWOT Analysis

12.8.5 The SNS View

12.9 Stmicroelectronics

12.9.1 Company Overview

12.9.2 Financial

12.9.3 Products/ Services Offered

12.9.4 SWOT Analysis

12.9.5 The SNS View

12.10 Texas Instruments Incorporated

12.10.1 Company Overview

12.10.2 Financial

12.10.3 Products/ Services Offered

12.10.4 SWOT Analysis

12.10.5 The SNS View

13. Competitive Landscape

13.1 Competitive Bench marking

13.2 Market Share Analysis

13.3 Recent Developments

13.3.1 Industry News

13.3.2 Company News

13.3.3 Mergers & Aquistions

14. Use Case and Best Practices

15. Conclusion

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Construction Machinery & Heavy Trucks

Luxury Yacht Market by Type, Application and Geography - Forecast and Analysis 2023-2027

Published: Nov 2022
SKU: IRTNTR40515

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Luxury Yacht Market Forecast 2023-2027

The luxury yacht market is estimated to grow by 366 thousand units at a CAGR of 11.26% between 2022 and 2027. The increase in recreational tourism is driving demand for luxury travel experiences and accommodations. Digital marketing and increasing social media use are enabling luxury brands to reach a wider audience and engage with consumers in new ways. The increase in the high net worth individual (HNWI) population is leading to higher spending on luxury goods and services. Overall, these factors are contributing to the growth of the luxury market. Tourism holds pivotal importance as a global economic activity, contributing substantially to the economic development, employment generation, and social progress of numerous nations. Its impact reverberates significantly in the market, particularly through various avenues such as commercial yacht operators, fleet operators, yacht brokers and brands, yacht ownership and prices, yacht auctions, and rentals.

What will be the size of the Luxury Yacht Market During the Forecast Period?

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Market Segmentation

This report extensively covers market segmentation by type (sail yachts and motor yachts), application (commercial and private), and geography (Europe, APAC, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

The market share growth by the sail yachts segment will be significant during the forecast period. Luxury sail yachts are 80' or longer (up to 230' long). Though they have auxiliary engine power, they use sails as the primary means of propulsion. Factors such as the absence of a large engine, increased automation employed in production, and the introduction of fiberglass hulls, keep the prices of luxury sail yachts lower than luxury motor yachts.

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The sail yachts segment showed a gradual increase in the market share of 195 thousand units in 2017 . Luxury sail yachts feature all possible modern conveniences, such as ACs, television, navigation aids, radar, echo-sounding, autopilot, computer-controlled electric winches for controlling the sails, and a reliable power-generating system. These are exclusively used for leisure purposes. Furthermore, our report provides a brief analysis of historical and forecast market share and their segment, along with their reasons for growth from 2017 to 2027. The growth of this segment is primarily attributed to the increasing adoption of the Market by residential consumers, which is driven by an increase in global demand.

For more insights on the market share of various regions Request PDF Sample now!

Europe is projected to contribute 31% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Europe has been the dominant region for luxury goods, with an estimated share of over 40% of the global luxury goods market. The region also continues to dominate the global market in terms of luxury goods manufacturing, with France and Italy as the key production powerhouses and Portugal as an upcoming manufacturing hub for luxury goods. In the case of the market, Europe has one of the largest and most attractive ports.

Market Dynamics and Customer Landscape

The market offers exquisite yacht interiors, amenities, and features that define a lavish yacht lifestyle. From exclusive yacht clubs to extravagant yacht parties and events, these vessels cater to the elite seeking premium experiences. Yacht brokers assist in the acquisition of top luxury yacht brands , and services such as yacht rentals, insurance, maintenance, and refurbishment ensure the continued opulence of these vessels. Yacht customization allows owners to personalize their yachts, while a range of yacht accessories and advanced yacht navigation systems enhance the onboard experience. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The increase in recreational tourism is the key factor driving the market growth. Tourism is a crucial economic activity globally, contributing significantly to the economic growth, job creation, and social advancement of many nations. It also has a notable impact on the market, particularly through commercial yacht operators and fleet operators, as well as yacht brokers , luxury yacht brands, yacht ownership, luxury yacht prices , yacht auctions, and luxury yacht rentals . Countries like Greece, Spain, France, and Italy, with their picturesque landscapes, are popular destinations for tourists, particularly the affluent segment. These countries also attract business events and meetings, where luxury yachts are chartered from fleet operators.

Europe stands out as a major hub for yachting, with the Port of Rotterdam in the Netherlands serving as Europe's largest yacht port, hosting around 77 luxury yachts for high-end tourism. The growth in tourism and recreational activities is expected to be a significant driver for the market in the coming years.

Major Market Trend

The use of advanced materials will fuel the market growth. Most traditional yachts are built using either steel or aluminum, which makes the yachts heavy and reduces their fuel economy. Although steel and aluminum are less expensive than alternative materials, such as glass fiber reinforced materials or pure carbon fiber, yacht makers realize the overall benefits of using carbon fiber in the construction of the boat. Carbon fiber extensively reduces the yacht's weight, which makes the yacht fast and fuel-efficient. This cost-saving from improved fuel economy offsets the additional manufacturing cost incurred by using carbon fiber. Also, carbon fiber provides additional strength and durability to the boat's dynamics, which enables it to withstand harsh conditions in the seas.

Carbon-fiber-based composite is a heavy-duty, military-grade, lightweight material . Due to this, it is a widely used material in yacht manufacturing. The carbon-fiber-based boat draws about 7.7' water as compared to aluminum-based boats that draw about 9'-10' water, which means this boat can easily sail in deep or shallow waters. So growing use of advanced materials in yacht making is fueling the market in focus during the forecast period.

Significant Market Challenge

The high cost of operations is a major challenge to global market growth. Motor types have every modern convenience installed onboard, such as ACs, television, navigation aids, radar, echo-sounding, and autopilot. To power all these amenities, luxury yachts require a reliable power-generating system. Thus, these yachts use gasoline or diesel-powered internal combustion engine ICEs to sail along with powering these modern conveniences and charging onboard batteries. As these yachts need to run at speeds up to 70 knots, the ICEs that are needed to power the amenities and run the yachts are huge and have high fuel requirements. However, any potential customer can avail of the booking facility through a third-party broker instead of the central agent, where both brokers share commissions.

In one way, such arrangements allow potential clients to avail or access a wide range of information on fleet booking and thereby select a suitable booking option based on their comfort. However, due to the involvement of multiple participants, both the operational cost and complexities in availing services augment further. Thus, the high cost of operations hinders the market growth during the forecast period.

Key Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Luxury Yacht Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

oceanalexander.com - The company offers luxury yachts such as Divergence, Revolution, and Explorer. Also, the company offers a yacht series designed by Evan Marshall and Arrabito Naval Architects, which offers unwavering safety, luxurious spaces, and sleek design.

The report also includes detailed analyses of the competitive landscape of the market and information about 120 market companies, including:

Alexander Marine International
Azimut Benetti SpA
Christensen Shipyards LLC
Damen Shipyards Group
Feadship Holland BV
FERRETTI SpA
Fincantieri Spa
Fr. Lurssen Werft GmbH
Gruppo Fipa Srl
Heesen Yachts Sales BV
Horizon Yacht USA
Nobiskrug Yachts GmbH
Overmarine Group Spa
Palmer Johnson
Palumbo Group Spa
Perini Navi Spa
Sanlorenzo Spa
Viking Yacht Co.
Westport Yachts

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

You may be interested in the regional reports:

Europe Luxury Yacht market - The market witnessed sales of 412 luxury yachts in 2014, and the European market emerging as its largest contributor with revenues close to USD 2 billion.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Type (Sail yachts and Motor yachts), Application (Commercial and Private), and Geography (Europe, APAC, North America, South America, and Middle East and Africa).

Sail yachts
Motor yachts
Rest of Europe
Saudi Arabia
South Africa
Rest of the Middle East & Africa

Market Analyst Overview

The market encompasses a range of high-end offerings, from superyachts to mega yachts. Buyers can choose between luxury yacht sales or opt for luxury boat rentals and luxury yacht charters for more temporary enjoyment. These vessels often boast luxury yacht amenities and luxury yacht features designed to provide a lavish Luxury yacht lifestyle. The market is supported by luxury yacht builders who specialize in luxury yacht design and construction. Despite its exclusivity, the market faces luxury yacht market challenges such as yacht maintenance and yacht refurbishment. However, with the right yacht insurance and yacht technology, the luxury yacht market continues to grow, offering unique yacht events and luxury yacht vacations to affluent consumers.

The market is a dynamic sector that continues to evolve with new yacht propulsion technologies and innovative yacht construction techniques. Luxury yacht market analysis reveals trends indicating steady Luxury yacht market growth and a positive Luxury yacht market outlook . The market is driven by various Luxury yacht market dynamics, including consumer demand for unique experiences and the allure of luxury lifestyles. As the market expands, luxury yacht market segmentation becomes more refined, catering to niche markets. This competitiveness drives luxury yacht market competition, prompting companies to seek new luxury yacht market opportunities and luxury yacht market trends for growth and differentiation.

The market is driven by a passion for recreational and leisure activities and the desire for livability on the seas. These yachts, often made from fiber reinforced polymers or metal/alloys, boast impressive lengths and innovative technological innovations to enhance the onboard experience. They offer a luxurious lifestyle, attracting buyers from the affluent segments of society. Key considerations for buyers include fuel consumption , s tiffness, and corrosion resistance. Despite the allure of these vessels, the market faces challenges from the threat of substitutes and the threat of new entrants, alongside the bargaining power of buyers seeking the ultimate sailing luxury yacht experience.


Report Coverage	Details
Page number	154
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 11.26%
Market growth 2023-2027	366 thousand units
Market structure	Fragmented
YoY growth (%)	10.98
Regional analysis	Europe, APAC, North America, South America, and Middle East and Africa
Performing market contribution	Europe at 31%
Key countries	US, China, Japan, UK, and Germany
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	Alexander Marine International, Azimut Benetti SpA, Christensen Shipyards LLC, Damen Shipyards Group, Feadship Holland BV, FERRETTI SpA, Fincantieri Spa, Fr. Lurssen Werft GmbH, Gruppo Fipa Srl, Heesen Yachts Sales BV, Horizon Yacht USA, Nobiskrug Yachts GmbH, Oceanco SAM, Overmarine Group Spa, Palmer Johnson, Palumbo Group Spa, Perini Navi Spa, Sanlorenzo Spa, Viking Yacht Co., and Westport Yachts
Market dynamics	Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview	If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
Precise estimation of the size of the market size and its contribution to the parent market
Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

Exhibit 12: Offerings of vendors included in the market definition
Exhibit 13: Market segments
3.3 Market size 2022
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (thousand units)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (thousand units)
Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

4 Historic Market Size

Exhibit 18: Historic Market Size – Data Table on Global luxury yacht market 2017 - 2021 (thousand units)
Exhibit 19: Historic Market Size – Geography Segment 2017 - 2021 (thousand units)
Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 (thousand units)
Exhibit 21: Historic Market Size – Application Segment 2017 - 2021 (thousand units)
Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (thousand units)

5 Five Forces Analysis

Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

Exhibit 30: Chart on Type - Market share 2022-2027 (%)
Exhibit 31: Data Table on Type - Market share 2022-2027 (%)
Exhibit 32: Chart on Comparison by Type
Exhibit 33: Data Table on Comparison by Type
Exhibit 34: Chart on Sail yachts - Market size and forecast 2022-2027 (thousand units)
Exhibit 35: Data Table on Sail yachts - Market size and forecast 2022-2027 (thousand units)
Exhibit 36: Chart on Sail yachts - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Sail yachts - Year-over-year growth 2022-2027 (%)
Exhibit 38: Chart on Motor yachts - Market size and forecast 2022-2027 (thousand units)
Exhibit 39: Data Table on Motor yachts - Market size and forecast 2022-2027 (thousand units)
Exhibit 40: Chart on Motor yachts - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Motor yachts - Year-over-year growth 2022-2027 (%)
Exhibit 42: Market opportunity by Type (thousand units)

7 Market Segmentation by Application

Exhibit 43: Chart on Application - Market share 2022-2027 (%)
Exhibit 44: Data Table on Application - Market share 2022-2027 (%)
Exhibit 45: Chart on Comparison by Application
Exhibit 46: Data Table on Comparison by Application
Exhibit 47: Chart on Commercial - Market size and forecast 2022-2027 (thousand units)
Exhibit 48: Data Table on Commercial - Market size and forecast 2022-2027 (thousand units)
Exhibit 49: Chart on Commercial - Year-over-year growth 2022-2027 (%)
Exhibit 50: Data Table on Commercial - Year-over-year growth 2022-2027 (%)
Exhibit 51: Chart on Private - Market size and forecast 2022-2027 (thousand units)
Exhibit 52: Data Table on Private - Market size and forecast 2022-2027 (thousand units)
Exhibit 53: Chart on Private - Year-over-year growth 2022-2027 (%)
Exhibit 54: Data Table on Private - Year-over-year growth 2022-2027 (%)
Exhibit 55: Market opportunity by Application (thousand units)

8 Customer Landscape

Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

Exhibit 57: Chart on Market share by geography 2022-2027 (%)
Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
Exhibit 59: Chart on Geographic comparison
Exhibit 60: Data Table on Geographic comparison
Exhibit 61: Chart on Europe - Market size and forecast 2022-2027 (thousand units)
Exhibit 62: Data Table on Europe - Market size and forecast 2022-2027 (thousand units)
Exhibit 63: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 64: Data Table on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 (thousand units)
Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 (thousand units)
Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 69: Chart on North America - Market size and forecast 2022-2027 (thousand units)
Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 (thousand units)
Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)
Exhibit 73: Chart on South America - Market size and forecast 2022-2027 (thousand units)
Exhibit 74: Data Table on South America - Market size and forecast 2022-2027 (thousand units)
Exhibit 75: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 76: Data Table on South America - Year-over-year growth 2022-2027 (%)
Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 (thousand units)
Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (thousand units)
Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 81: Chart on US - Market size and forecast 2022-2027 (thousand units)
Exhibit 82: Data Table on US - Market size and forecast 2022-2027 (thousand units)
Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)
Exhibit 85: Chart on UK - Market size and forecast 2022-2027 (thousand units)
Exhibit 86: Data Table on UK - Market size and forecast 2022-2027 (thousand units)
Exhibit 87: Chart on UK - Year-over-year growth 2022-2027 (%)
Exhibit 88: Data Table on UK - Year-over-year growth 2022-2027 (%)
Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 (thousand units)
Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 (thousand units)
Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 93: Chart on China - Market size and forecast 2022-2027 (thousand units)
Exhibit 94: Data Table on China - Market size and forecast 2022-2027 (thousand units)
Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)
Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 (thousand units)
Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 (thousand units)
Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)
Exhibit 101: Market opportunity by geography (thousand units)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
Exhibit 102: Impact of drivers and challenges in 2022 and 2027
10.4 Market trends

11 Vendor Landscape

11.1 Overview
Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
Exhibit 104: Overview on factors of disruption
Exhibit 105: Impact of key risks on business

12 Vendor Analysis

Exhibit 106: Vendors covered
Exhibit 107: Matrix on vendor position and classification
Exhibit 108: Alexander Marine International - Overview
Exhibit 109: Alexander Marine International - Product / Service
Exhibit 110: Alexander Marine International - Key offerings
Exhibit 111: Azimut Benetti SpA - Overview
Exhibit 112: Azimut Benetti SpA - Product / Service
Exhibit 113: Azimut Benetti SpA - Key offerings
Exhibit 114: Christensen Shipyards LLC - Overview
Exhibit 115: Christensen Shipyards LLC - Product / Service
Exhibit 116: Christensen Shipyards LLC - Key offerings
Exhibit 117: Damen Shipyards Group - Overview
Exhibit 118: Damen Shipyards Group - Product / Service
Exhibit 119: Damen Shipyards Group - Key news
Exhibit 120: Damen Shipyards Group - Key offerings
Exhibit 121: Feadship Holland BV - Overview
Exhibit 122: Feadship Holland BV - Product / Service
Exhibit 123: Feadship Holland BV - Key offerings
Exhibit 124: FERRETTI SpA - Overview
Exhibit 125: FERRETTI SpA - Product / Service
Exhibit 126: FERRETTI SpA - Key offerings
Exhibit 127: Fr. Lurssen Werft GmbH - Overview
Exhibit 128: Fr. Lurssen Werft GmbH - Product / Service
Exhibit 129: Fr. Lurssen Werft GmbH - Key offerings
Exhibit 130: Heesen Yachts Sales BV - Overview
Exhibit 131: Heesen Yachts Sales BV - Product / Service
Exhibit 132: Heesen Yachts Sales BV - Key news
Exhibit 133: Heesen Yachts Sales BV - Key offerings
Exhibit 134: Horizon Yacht USA - Overview
Exhibit 135: Horizon Yacht USA - Product / Service
Exhibit 136: Horizon Yacht USA - Key offerings
Exhibit 137: Oceanco SAM - Overview
Exhibit 138: Oceanco SAM - Product / Service
Exhibit 139: Oceanco SAM - Key offerings
Exhibit 140: Overmarine Group Spa - Overview
Exhibit 141: Overmarine Group Spa - Product / Service
Exhibit 142: Overmarine Group Spa - Key offerings
Exhibit 143: Palmer Johnson - Overview
Exhibit 144: Palmer Johnson - Product / Service
Exhibit 145: Palmer Johnson - Key offerings
Exhibit 146: Palumbo Group Spa - Overview
Exhibit 147: Palumbo Group Spa - Product / Service
Exhibit 148: Palumbo Group Spa - Key offerings
Exhibit 149: Viking Yacht Co. - Overview
Exhibit 150: Viking Yacht Co. - Product / Service
Exhibit 151: Viking Yacht Co. - Key offerings
Exhibit 152: Westport Yachts - Overview
Exhibit 153: Westport Yachts - Product / Service
Exhibit 154: Westport Yachts - Key offerings

13 Appendix

13.1 Scope of the report
Exhibit 155: Inclusions checklist
Exhibit 156: Exclusions checklist
Exhibit 157: Currency conversion rates for US$
Exhibit 158: Research methodology
Exhibit 159: Validation techniques employed for market sizing
Exhibit 160: Information sources
Exhibit 161: List of abbreviations

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Luxury yacht market size worldwide 2019-2030

Size of the global luxury yacht market in 2019 and 2020, with a forecast for 2021 through 2030 (in billion u.s. dollars).

Characteristic	Market size in billion U.S. dollars
2030*	14.58
2029*	13.91
2028*	13.25
2027*	12.58
2026*	11.91
2025*	11.25
2024*	10.58
2023*	9.91
2022*	9.25
2021*	8.58
2020	5.91
2019	6.58

Additional Information

Show sources information Show publisher information Use Ask Statista Research Service

Next Move Strategy Consulting

2019 and 2020

Statistics on " Personal luxury goods industry worldwide "

Value of various global luxury markets 2023, by market type
Revenue of the luxury goods industry Worldwide 2018-2028
Luxury goods industry revenue worldwide 2024 & 2028, by country
Expected CAGR of personal luxury goods market 2020-2025
Share of the personal luxury goods market worldwide in 2023, by consumer nationality
Fashion and luxury goods M&A deals worldwide in 2022, by product category
Share of the personal luxury goods market worldwide in 2023, by generation
Value share of the global personal luxury goods market in 2023, by sales channel
Value of the global personal luxury goods market in 2023, by format
Value of the online personal luxury goods market worldwide 2004-2023
Global used personal luxury goods market size from 2015 to 2021
Value of the global outlet personal luxury goods market 2012-2023
Global luxury goods market revenue 2023, by segment
Revenue of the luxury fashion industry Worldwide 2018-2028
Revenue of the prestige fragrances industry worldwide 2015-2028
Revenue of the luxury watches & jewelry industry Worldwide 2018-2028
Revenue of the luxury leather goods industry Worldwide 2018-2028
Revenue of the luxury eyewear industry Worldwide 2018-2028
Business segment revenue share of the LVMH Group worldwide in 2023
Kering's global revenue from 2008 to 2023
Revenue share of the Kering Group worldwide 2023, by region
Global revenue share of the Kering Group in 2023, by brand
Sales share of the Richemont Group worldwide 2024, by geographical region
Sales of the leading luxury goods companies worldwide 2022
Leading 20 European luxury goods companies based on sales 2022
Most sustainable luxury brands worldwide 2022
Most trusted luxury brands worldwide 2022
Luxury brands omnichannel availability score 2022
Awareness of luxury brands worldwide 2022

Other statistics that may interest you Personal luxury goods industry worldwide

Market overview

Premium Statistic Value of various global luxury markets 2023, by market type
Premium Statistic Revenue of the luxury goods industry Worldwide 2018-2028
Premium Statistic Luxury goods industry revenue worldwide 2024 & 2028, by country
Premium Statistic Expected CAGR of personal luxury goods market 2020-2025
Premium Statistic Share of the personal luxury goods market worldwide in 2023, by consumer nationality
Premium Statistic Fashion and luxury goods M&A deals worldwide in 2022, by product category
Premium Statistic Share of the personal luxury goods market worldwide in 2023, by generation

Sales channels and formats

Premium Statistic Value share of the global personal luxury goods market in 2023, by sales channel
Premium Statistic Value of the global personal luxury goods market in 2023, by format
Premium Statistic Value of the online personal luxury goods market worldwide 2004-2023
Premium Statistic Global used personal luxury goods market size from 2015 to 2021
Basic Statistic Value of the global outlet personal luxury goods market 2012-2023

Luxury product markets by category

Premium Statistic Global luxury goods market revenue 2023, by segment
Premium Statistic Revenue of the luxury fashion industry Worldwide 2018-2028
Premium Statistic Revenue of the prestige fragrances industry worldwide 2015-2028
Premium Statistic Revenue of the luxury watches & jewelry industry Worldwide 2018-2028
Premium Statistic Revenue of the luxury leather goods industry Worldwide 2018-2028
Premium Statistic Revenue of the luxury eyewear industry Worldwide 2018-2028

Leading companies

Premium Statistic Total revenue of the LVMH Group worldwide 2008-2023
Basic Statistic LVMH Group's revenue share worldwide from in 2023, by geographic region
Premium Statistic Business segment revenue share of the LVMH Group worldwide in 2023
Premium Statistic Kering's global revenue from 2008 to 2023
Basic Statistic Revenue share of the Kering Group worldwide 2023, by region
Basic Statistic Global revenue share of the Kering Group in 2023, by brand
Basic Statistic Total sales of the Richemont Group worldwide 2008-2024
Basic Statistic Sales share of the Richemont Group worldwide 2024, by geographical region

Brand rankings

Premium Statistic Most valuable global luxury brands 2024
Premium Statistic Sales of the leading luxury goods companies worldwide 2022
Premium Statistic Leading 20 European luxury goods companies based on sales 2022
Basic Statistic Most sustainable luxury brands worldwide 2022
Basic Statistic Most trusted luxury brands worldwide 2022
Premium Statistic Luxury brands omnichannel availability score 2022
Premium Statistic Awareness of luxury brands worldwide 2022

Further related statistics

Basic Statistic UK cyber security: total software & IT services market size 2010-2017
Premium Statistic U.S. value of automotive parts sourced from U.S. located suppliers 2000-2010
Basic Statistic Revenue forecast for the U.S. toys and games market 2009-2014

Further Content: You might find this interesting as well

UK cyber security: total software & IT services market size 2010-2017
U.S. value of automotive parts sourced from U.S. located suppliers 2000-2010
Revenue forecast for the U.S. toys and games market 2009-2014

Top 4 Leading Companies Explored by EMR for Luxury Yachts Market Across the World

top 4 leading companies luxury yachts market

Azimut Benetti S.p.A, Ferretti SPA, Lürssen, Feadship, Fincantieri S.p.A., Horizon Yacht USA, and Heesen Yachts Sales B.V., among others, are the major players in the global luxury yachts market.

Azimut Benetti S.p.A, Ferretti SPA, Lürssen, Feadship, Fincantieri S.p.A., Horizon Yacht USA, and Heesen Yachts Sales B.V., among others, are the major players in the global luxury yachts market.

In the forecast period of 2022-2027, the global luxury yachts market is expected to grow at a CAGR of 8%. As per the analysis by Expert Market Research, the global luxury yacht market is being driven by the rising population of high-net-worth individuals, particularly billionaires, as they constitute the major consumer group in the market.

The growth of the maritime tourism industry, aided by several government initiatives, has boosted the growth of the luxury yachts market. The innovative features being introduced in yachts is bringing a lot of attention to the market. HVAC systems, radar, navigation, TV, autopilot, and a dependable power generating system are some of the spectacular features in the yachts. Another important feature is the use of lighter hull material like fibre reinforced plastic (FRP), which increases the speed and reduces the fuel consumption of the yacht. All these factors are expected to significantly propel the market growth in the forecast period.

The market in the European region is expected to witness a tremendous growth in the near future owing to the increasing technological advancements and R&D activities. The rising investments in Europe to ensure luxurious, comfortable, and high-quality interiors are further expected to bolster the market growth in the region. Some of the major regions in the European market for luxury yachts are Italy, the United Kingdom, and the Netherlands. Italy is one of the most significant markets for luxury yachts due to the strong presence of domestic yachts manufacturers and favourable government policies in the region. The market in the Asia Pacific region is also a major emerging market for luxury yachts due to the rapidly developing economies, increasing disposable incomes, and the growing manufacturing sector in the region. The growing luxury tourism sectors and favourable government initiatives are expected to propel the market growth in the region. Some of the major markets in the region are China, Japan, Singapore, Australia, Thailand, the Philippines, Indonesia, and Malaysia.

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Top 4 Global Luxury Yachts Companies:

Azimut benetti s.p.a.

Headquarters:	Lucca, Italy
Establishment:	1969
Website:	https://www.azimutbenetti.it/home-en.html

This company is the global leading builder of mega yachts and is the largest private group in the yacht sector. The company operates in 68 countries with a huge network of 138 sales and assistance offices. The company owns the famous brands Azimut Yachts, Benetti Yachts, Yachtique, Lusben, Marina di Varazze and Royal Yacht Club Moscow and offers a vast range of exclusive motor boats from small boats to huge yachts.

Ferretti Group

Headquarters:	Forli, Italy
Establishment:	1968
Website:	https://www.ferrettigroup.com/en-us/

This company is a leader in the design, construction , and sale of luxury yachts. The company’s portfolio has some of the most famous brands in the sector, namely, Ferretti Yachts, Riva, Pershing, Itama, CRN, Custom Line and Wally. This Italian company is known for its utmost quality, superior technology, safety, and optimum performance, and sells their products in over 70 countries globally.

Lürssen

Headquarters:	Bremen, Germany
Establishment:	1875
Website:	https://www.lurssen.com/en/home/

Lurssen deals with the design and construction of yachts, naval ships, and special vessels. This company is known for their superior quality and innovative technology and has delivered some of the world’s best luxury yachts such as Azzam, Dilbar, Al Said, and Nord.

Headquarters:	Makkum, Netherlands
Establishment:	1949
Website:	https://www.feadship.nl/

This company is regarded as a leader in the custom superyacht sector. It deals with the design and construction of high-end luxury superyachts and has also built some of the famous superyachts such as Aquarius, Symphony, and Venus. This company is known for its superior standard in design, construction, and engineering of superyachts and is globally renowned in the yacht sector.

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CAGR 2024-2032 - Market by	In Terms of USD Billion
Market Size 2023	578
Market Size 2023	578
Market Size 2023	578

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Yacht Market Report: the Only Way is Up

Home > LUXURY/UHNW Trends > Yacht Market Report: the Only Way is Up

Posted by David Breviglieri , 11 Oct 2021

Looking at the yacht market report for 2022 and beyond, the industry’s future will be home to an entirely different landscape. The global pandemic has resulted in a shift in attitudes, a host of new travel trends and a spotlight on sustainability like never before. When it comes to yachting, the industry is listening.

Yacht Market Report : the Only Way is Up

The yacht market weathered the uncertainty of the past two years and has come out stronger than ever before. This year has broken all records for yacht sales, with 545 yachts sold in the first three quarters of 2022, according to global superyacht brokerage Fraser. That’s compared to 277 yachts sold for the same period last year and is double the average number of yacht sales at this time of year since 2009.

Interest in yacht charters has also risen from first-time charterers, and we can expect to see the results of the exponential growth in green engineering and technology in the next few years.

Technological innovation is also set to enhance the luxury experience on board, with onboard technology becoming smarter, more sophisticated, and increasingly more implementable.

When it comes to the superyacht experience, various trends all centre around people wanting to travel more, spend quality time with the people they love and explore remote destinations with health and safety at the front of their minds.

It wasn’t just global lockdowns that have stimulated these yacht market trends. Global wealth grew significantly in 2020 and 2021, and according to the SYT iQ 2021 Market Report, new yacht sales also saw substantial growth worldwide. According to Wealth-X, a total of 670 additional billionaires were created in 2020 – a rise of 13%. The worldwide list of High Net Worth Individuals (defined as individuals with more than $5 million net assets) now has over 3 million members.

Here Relevance dives deeper into the biggest yacht market trends expected to emerge in 2022 and beyond.

Yacht Charter: 2022 Trends

When it came to the charter market, top superyacht brokerage houses noted a substantial increase in first-time yacht charter clients in 2020 and 2021. In fact, new charter clients made up around 40% of the luxury charter market this year.

Speaking at the Fraser conference at the Monaco Yacht Show 2021, Mark Duncan, Fraser Director of Marketing & Business Development, hopes that this demand will continue for the foreseeable future.

“Judging by the feedback, especially from those first-time charterers this year, the experience they all enjoyed together seems to have really resonated with them,” Duncan said. “Some of those charterers booked, not for one week or 10-day charters, but three weeks and, on a few occasions, more than a month – they homeschooled on board, they worked on board. They re-positioned lives to being at sea and onboard and loved it. So long may it last.”

The reasons behind these shifts over the past couple of years are clear. The yacht ownership and charter landscape changed in 2020 and 2021, largely due to the global pandemic.

With the worldwide population facing restrictions on movement unprecedented in modern times, several trends in yachting emerged – the majority of which experts agree will continue into 2022 and beyond.

When it comes to cruising behaviour, the world’s top yacht brokers and superyacht charter experts note a rise in multi-generational travel, with a surge of clients looking to spend increased quality time with loved ones.

Charter Destination Trends

In tandem with a heightened priority for family-centred and increasingly extended periods at sea, more and more yacht clients are seeking pristine natural environments to spend their time, with a rise in interest in off-the-beaten-track destinations away from the busy superyacht hotspots.

Again, the reasons behind this yacht market trend are obvious. As the weeks and then the months went by bunkered down in the same location, the advantages of a superyacht became crystal clear. A superyacht offers an isolated environment, a safe place to spend extended periods with family and friends while also allowing a sense of total freedom.

Of course, a luxury yacht has long been the epitome of freedom, but with people stuck to one location like never before, it became more of a serious option for many in the game for a superyacht experience. With the COVID-19 pandemic still very much a global issue, it is a safe bet that the superyacht charter market will continue to grow and attract new clients.

Sustainability: The Future is Green

Sustainability has been a hot topic for the past few years, though it’s clear that the need for sustainable solutions in superyachting is growing.

Environmental awareness spans every level of the superyacht experience, from owner and charter client to shipyard and broker. In response to this growing necessity, the yachting industry is responding.

Some of the most sustainable yachts in the past 10 years include Feadship’s 83-metre M/Y SAVANNAH. Delivered in 2015, M/Y SAVANNAH boasted 30% lower fuel consumption than her competitors and featured Feadship’s innovative Breathe propulsion system. Delivered in the same year was the 76.6-metre M/Y Yersin built by French shipyard Piriou. YERSIN is one of the world’s cleanest vessels, with her long list of sustainable features including emission-reducing filters on her engines to eradicate 99.8% of NOx and SOx emissions. Three years later, the 106-metre sailing yacht BLACK PEARL became the world’s first ‘zero impact’ yacht upon delivery from Oceanco in 2018, while in 2020, Nobiskrug’s 80-metre M/Y ARTEFACT features solar panels, diesel-electric propulsion system with lithium batteries, which reduces emissions by up to 30%.

And sustainable solutions are only becoming more prevalent in the future. Looking to the yacht market in 2022 and beyond, Dutch shipyard Oceanco recently commented that of the five 100+ metre superyachts currently under construction, all include trailblazing sustainable solutions, from alternative propulsion solutions and fuel sources to increased electrification and battery usage for reduced carbon emissions.

Fellow Dutch superyacht shipyard Feadship has noted similar sentiments, while Amels revealed that their latest superyacht under construction – the 120-metre Project Signature designed by Espen Oeino – will be one of the greenest and most ecological vessels out there upon delivery in 2025.

Sustainable Technology Across the Board

But sustainable futures are not just reserved for the large yacht builders. When it comes to the implementation of even newer sustainable superyacht technology, smaller brands like Hynova in France are also paving the way.

With the first models set to hit the water in the near future, Hynova aims to launch the very first brand of boats featuring electro-hydrogen propulsion. Sunreef Yachts, the renowned luxury catamaran builder, unveiled the 100 Eco Catamaran in summer 2021, while the Italian yacht builder Fabiani Yachts revealed their new hybrid yacht range at the Cannes Yachting Festival 2021.

The new Fabiana Yachts Hybrid models range from 21 to 30-metres and feature solar panels intelligently integrated into the structure of the boat – the latter a feature seen in more yacht designs and future concepts. From 80+ metre superyachts to 21-metre day boats and everything in between, it’s clear that when it comes to the future of the industry, the yacht market is on the path to going green.

Yacht Market: Luxury Technology

It’s not only engineering and propulsion that is facing significant innovation on board the superyachts of the future. Onboard technology is also being paid more attention than ever before – from an increase in demand for yacht toys and tenders that offer unique experiences, such as personal submarines and hydrofoil tenders, to smart technology products that enhance the everyday experience of life on board. One brand to look out for is YachtCloud, creators of luxury technology catered to the seven-star environments of superyachts. GEST, their service call device, is a fantastic example of the progression of technology, and how that technology enhances the experience onboard. Custom programmed to fit each client’s specific needs and wishes, GEST service call devices also feature a bespoke premium design, meaning that they fit seamlessly into the prestigious environments they are surrounded by.

Relevance Yacht is a dedicated yacht marketing agency that works with international yachting clients across the full digital marketing ecosystem. Our team of yacht marketing specialists help clients reach their target audiences via data-led, hyper-targeted campaigns that drive positive action. For more information on how we can upgrade your marketing strategy, get in touch with our yachting experts today.

Monaco Yacht Show 2024: The Biggest, Boldest and Most Expensive Superyachts To See

Even in its 33rd year, Monaco Yacht Show continues to break its own milestones.

By Ellys Woodhouse and Toby Louch

The principality of Monaco has a calendar that’s filled with major events. While the financial benefits of this little tax haven ensure its population remains fairly well stocked with super-rich and socialites year-round, it’s these events that truly bring the masses. April calls for the tennis at The Rolex Monte-Carlo Masters; in May it’s time for the Formula One Grand Prix ; June brings the world-famous car show Top Marques ; and summer draws to a close with perhaps the most glam of the bunch, the Monaco Yacht Show, which this year falls on September 25 – 28.

For those interested in gazing upon some of the finest yachts that can be found anywhere in the world, Monaco ’s Port Hercules is a pretty good spot year-round, but for the weekend of the Monaco Yacht Show, things enter a different league.

The Monaco Yacht Show is essentially a gathering of the global superyacht community. From owners to innovators, manufacturers and brokers, all head to the principality. Each year, builders and brokers present around 120 superyachts and 60 luxury tenders , with many of these reflecting current industry trends and revealing the potential future direction of the industry. These vessels boast an average length of around 160 ft, with a sprinkling of superyachts that top the 320 ft mark – with this year’s headliner clocking in at 400 ft.

Aside from the yachts themselves, visitors can expect countless designers improving yacht interiors and engineers working to ensure the industry becomes more sustainable. There’s sure to be a lot going on.

So ahead of this year’s event, Elite Traveler has looked into which yachts will be on display at Port Hercules and curated a list of some of the show’s unmissable vessels. So blow the dust off your Panama hat and add a few zeros to your credit card limit, because these are some of the biggest, boldest and most expensive boats attending the 2024 Monaco Yacht Show.

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The undisputed biggest headline of this year’s show – in every sense of the word – Lürssen’s Kismet will be the largest yacht to go on display in Port Hercules. While the previous title holder was another from Lürssen, the 377.6-ft Ahpo, the Kismet takes its victory by a considerable mile, clocking in at 400 ft. Previously known as Project Jag, the Kisamet was handed over to owner Shahid Khan in May 2024, making it one of the show’s newest deliveries, too.

With exterior design by Nuvolari Lenard and naval architecture by Lürssen Yachts along with Reymond Langton Design working on the yacht’s interiors , Kismet is decked out with a helipad, beauty salon, indoor and outdoor cinema, dance floor and gym. Perhaps unsurprising, but all this makes Kisamet one of the most expensive yachts to charter , too, asking for €3m (approx. $3.4m) per week with Cecil Wright & Partners.

[See also: How Louis Vuitton Made the America’s Cup the Voyage en Vogue]

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Delivered in 2019 by SilverYachts and refitted in 2024, the almost 280-ft, self-described ‘sports activity vessel’ Bold takes center stage at Monaco Yacht Show 2024. Designers Espen Øino created the superyacht’s striking, military-inspired exterior, creating a unique glass-enclosed loft on the upper deck that covers over 3,200 sq-ft of interior space. Meanwhile, Vain Interiors has created an opulent, New York-style loft, which is built to accommodate up to 12 overnight guests in eight luxurious staterooms and can carry up to 96 passengers while cruising.

With a a huge selection of water toys, a vast outdoor entertaining area with a bar and Teppanyaki grill, a cinema, an eight-person hot tub and a lounge surrounding a firepit, it’s no surprise that the Bold is a popular charter yacht, with Holl Robinson asking €875,000 ($972, 800) per week.

Following an extensive, three-year rebuild, the most expensive superyacht on the market has returned to Port Hercules for 2024, complete with a new look – and price tag, too, asking for €295m ($328m). The 344.5-ft Oceanco H3 superyacht has already picked up a handful of international awards for the new look and is expected to impress many fans at Monaco Yacht Show 2024.

In addition to the extra 10 meters that were added to the H3 ’s hull, the rebuild – from the likes of Reymond Langton Design, which worked on both the exterior and interior redesign, and the collaboration between Lateral Naval Architects and Oceanco on its naval architecture – also saw a pool deck, huge spa and wellness area and climate-controlled winter garden added to H3 ’s numerous amenities.

[See also: Life Onboard The World Residences at Sea]

With its distinctive, shark-like exterior design, the 295-ft superyacht DAR will be hard not to miss at Monaco Yacht Show 2024. Built by Oceanco with exteriors designed by Luiz de Basto Design, the glossy black silhouette was inspired by the look of the hammerhead shark, with sinuous lines, wide set wing stations and a mast modeled after a dorsal fin.

Meanwhile, renowned Italy-based studio Nuvolari & Lenard has crafted swooping, contemporary interiors. DAR’s impressive features include a complete owner’s deck, complete with a private salon and jacuzzi, a wellness area, an impressive beach club, and two helipads for private use. Offering grandeur and complete privacy in equal doses, DAR can accommodate up to 14 guests in overnight accommodation, with separate living quarters to host as many as 31 crew members.

[See also: Does this 357-Foot New Yacht Belong to Steven Spielberg?]

Despite only hitting the waters in June this year, the first wallywind110, Galma , is set to make its global debut at Monaco Yacht Show 2024. Measuring almost 110 ft, Galma ’s naval architecture comes from German studio judel/vrolijk & co while interior and exterior lines are designed by Wally in collaboration with Santa Maria Magnolfi. With a design that offers the comfort of a cruising yacht while maintaining the performance of a racing boat, Galma is characterized by the 22.6-ft telescopic keel and an all-carbon hull that has been painted in light metallic blue.

Other highlights of Galma include an 860-sq-ft full-beam cockpit with seating and dining for up to 15 people, as well as an open-plan raised saloon. Galma can accommodate up to eight guests overnight, with five crew members.

monacoyachtshow.com

[See also: The Ultimate Guide to Hydrogen-powered Yachts]

Ellys Woodhouse

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KPS Capital Partners to Acquire Controlling Ownership of Princess Yachts

Investment will Accelerate Company’s Growth and Innovation

New York, NY (February 13, 2023) -- KPS Capital Partners, LP (“KPS”) announced today that it has entered into a definitive agreement to acquire a controlling equity interest in Princess Yachts (Holdings) Limited, (“Princess Yachts” or the “Company”), a leading global manufacturer of luxury motor yachts. Existing stockholders will retain ownership in the Company. Completion of the transaction is expected in the first quarter of 2023 and is subject to customary closing conditions and approvals.

Princess Yachts is a leading builder of luxury motor yachts and is recognized for its timeless design, hand-crafted quality and exceptional seakeeping. Headquartered in Plymouth, England, the Company’s unparalleled level of vertical integration – including on-site design, engineering and manufacturing – has helped position Princess Yachts as one of Britain’s most iconic luxury brands. Princess Yachts serves a global customer base through its best-in-class international dealer network. The Company has approximately 3,200 employees and operates five manufacturing facilities in Plymouth, England.

Ryan Harrison, a Partner of KPS Mid-Cap Investments, said, “We are excited to make this significant investment in Princess Yachts, a leading company in the luxury global yachting industry with an iconic brand grounded in British tradition, a remarkable and growing product range and worldwide reputation for quality and innovation. KPS’ investment will accelerate Princess’ growth trajectory and fund numerous investments for its future. We look forward to working with Princess’ existing stockholders, Chief Executive Officer Antony Sheriff, the senior leadership team and the talented employee base at Princess Yachts.”

Antony Sheriff, Chief Executive Officer of Princess Yachts, said, “We are thrilled to partner with KPS for this exciting new chapter for Princess Yachts. KPS and the Princess Yachts team are deeply committed to investing in the Company’s future while continuing to further strengthen our portfolio of best-in-class motor yachts. With a current order book nearing a record $1 billion and many model lines sold into 2025, we have never been in a stronger commercial position. Together with KPS’ tremendous track record of manufacturing excellence and investing in leading brands, we are now positioned to take Princess Yachts to the next level of industry leadership in quality and innovation. Under KPS’ ownership, we will accelerate a range of growth and operational initiatives to build upon our long and successful history.”

Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS. Macquarie Capital and Latham & Watkins LLP served as financial advisor and legal counsel, respectively, to Princess Yachts.

About Princess Yachts

Princess Yachts is a leading builder of luxury motor yachts and is recognized for its timeless, understated design, unique craftsmanship and exceptional seakeeping. Headquartered in Plymouth, England, the Company’s unparalleled level of vertical integration – including on-site design, engineering and manufacturing – has helped position Princess Yachts as one of Britain’s most iconic luxury brands. Princess Yachts serves a global customer base through its best-in-class international dealer network. The Company has approximately 3,200 employees and operates five manufacturing facilities in Plymouth, England. For additional information, please visit www.princessyachts.com .

About KPS Capital Partners

KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $21.8 billion of assets under management (as of June 30, 2024). For over three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds’ portfolio companies generate aggregate annual revenues of approximately $19.3 billion, operate 219 manufacturing facilities in 26 countries, and have approximately 47,000 employees, directly and through joint ventures worldwide (as of June 30, 2024). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.

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Will luxury yachts find a home in India's coastal waters soon?

The Modi government plans to change this state of affairs with a policy to promote “yacht tourism” and personal yachting.

Country’s rich and famous would no longer have to rush to Europe and US for getting their yacht experience. They would soon be able to own, move and park their yachts along India's coastline. India plans to build marinas at several locations along the coast, minister Sarbananda Sonowal said.

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New Delhi: One of the world's most expensive yachts is owned by an Indian-origin industrialist. But steel magnate Lakshmi Mittal would probably think twice before parking his superyacht in Indian waters.

Reason: The country with a 7,500-km-long coastline doesn't have a single international-standard marina. This means rich Indians who own yachts have no choice but to park them in Europe, Singapore and Dubai, rather than Mumbai or Goa.

The Modi government plans to change this state of affairs with a policy to promote “yacht tourism" and personal yachting.

The ministry of ports, shipping and waterways (MoPSW) proposes to build marinas at several locations along the eastern and western coastlines that would provide global quality infrastructure for sailing and parking yachts from across the world, union shipping minister Sarbananda Sonowal said.

“We are adding a new dimension to our plan to promote cruise tourism. This includes developing the ecosystem for yachts with the development of marinas along the Indian coastline. This will be developed on the lines of facilities existing in several European countries," Sonowal said in an interview.

A policy for yachts will be included in the Cruise India Mission that aims to promote cruise tourism by developing airport-like facilities at ports to attract international passengers. The Mission is expected to be launched later this month.

“The plan for marinas or small port-like facilities for yachts and smaller boats is also aimed at providing people who move to Dubai and Singapore to get this yachting experience. The programme is not only aimed at facilitating luxurious yachts but is also aimed at creating ample employment opportunity within the country with our estimates suggesting that each yacht would require at least 20 crew members.

Also read: The dictator’s son wanted his yacht back. That’s when trouble started

"So, even if initially we have facilities like that in Croatia that has marinas supporting 15,000 yachts, enormous employment opportunities would be created," Sonowal said.

Shipping secretary T.K. Ramachandran said these marinas would be developed along all harbours. The ministry will identify key locations for putting up the infrastructure on a public-private partnership model.

People aware of the development said marinas in places like Goa, Mumbai and other places frequented by business leisure travellers would also host customers and immigration facilities, while effort would also be made to rope in the private sector to commercially develop the area around marinas with hotels, shopping arcades and recreational and business and conference facilities.

“We hope that first set of marinas would come up soon. This should align with development of facilities for promoting cruise tourism," Sonowal said.

To be sure, owning a yacht isn't cheap – they can cost anything upward of $15,000 to $1.5 billion (the price of Eclipse, the world's most expensive) – but the shipping ministry says yacht sales have been rising in India in recent years. Mostly, yachts are imported.

The Indian yacht market generated a revenue of $115.1 million in 2023 and is expected to reach $162.9 million by 2030, according to report by Grand View Research, an India and US-based market research and consulting company. However, this is tiny by global standards – just 1.2% of the global yacht market in 2023. China is the fastest growing market in Asia Pacific, projected to reach $810.0 million by 2030.

Super-rich Indians who own yachts include industrialists Mukesh Ambani , Laxmi Mittal, Gautam Singhania, Anil Ambani, and film star Salman Khan, industry reports said.

Also read: India plans ship building JV between state-run refiners and Shipping Corporation of India

According to the report, Indian nationals own about 1% of all yachts that are 40 meters or longer.India's superyacht industry is still in its early stages, with fewer than 300 boats registered in the country. This includes around 120 luxury yachts and over 150 speed boats.

In India, limited infrastructure is available for yachts to park at Mumbai, Goa, Kochi and Chennai. At several other places, yachts are parked at ports having temporary arrangements for yachts.

Some of the key global companies operating in the yacht market are Damen Shipyards Group, Azimut Benetti Group, and Ferretti S.p.A. The government wants some of these companies to set up shop in India and offer their yachts and yachting and services here.

Yachting has tremendous potential for growth in India where this becomes a status symbol for the upwardly mobile, said AnilDevli, CEO of Indian National Shipowners Association (INSA). "But in all this, the government should ensure that any policy on yachts should give a boost to domestic production of these at our shipyards. Also, the government should look at easing visa regulations to bring in technicians and non-engineering workers who are conversant to servicing these complex vessels," Devli said.

It is expected that ministry would also discuss security-related issues with agencies including coast guard and Indian navy to facilitate uninterrupted movement of Yachts along Indian coast. A protocol would also be developed to facilitate this service.

“If you develop facilities as per global standards, then definitely you get all the stakeholders around," Sonowal said.

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The property first listed in 2003, and at its peak asked $35 million. The four-story house — sometimes called “ Versailles in Manhattan ,” with ornate, belle epoque- and Louis XIV-style interiors — is again for sale , now asking a much lower $15.99 million. (Should they suit a potential buyer, the home’s fixtures and furnishings are negotiable, and could come with the sale.)

The residence appears to hold a record for the New York City townhouse that has spent the longest stretch of time being tossed on and off the market — most likely because the house has never not been overpriced, real-estate insiders say. They also suggest that the seller — retired commercial real-estate broker Kenneth D. Laub — doesn’t really want to sell it.

Kenneth D. Laub purchased the townhouse in 1986 for $4 million.

For a property that has languished on the market for so long, “you wonder what’s wrong, and the first thing you look at is the price,” said one industry insider. “The pricing has always been above the current value. Listings are like milk. They don’t get better with age.”

In the past, Laub wasn’t particularly interested in selling, “but I am a serious seller now,” he told The Post, in a message conveyed by the current listing agent, John Antretter of The Agency. “This is a large house. It’s an even larger house when you are 85 years old than when you were 55. So it’s time to slim down.”

Laub bought the residence in 1986 for $4 million, or $11.48 million when adjusted for inflation. As time marches on, “life decisions change,” Antretter said. “It comes down to downsizing at this stage of life.”

Antretter has rebranded the property as “Symphony House,” in honor of Laub’s love of music. “I’ve hosted many concerts and musical evenings with friends,” Laub added.

“We hosted Liza Minnelli’s engagement party. The list of performances is extensive. The whole second floor is professionally wired for sound and recording. Music has played a major role in my life and in the creation and use of my home. If you are interested, you can listen to [my] music on YouTube and enjoy some of my music about New York City.”

Now, the pressure to sell is mounting.

After a seven-year slog in court, with several lenders suing Laub for allegedly failing to pay, the house is in foreclosure. Last month, a New York court ordered that the house be auctioned off within 180 days.

Now known as the Symphony House for the owner's love of music, the property has also been known as "the Versailles of Manhattan" for its ornate interiors.

According to court papers filed by a creditor in a different litigation, last year Laub based a valuation of $18 million on “the opinions of three realtors,” an approach known in the field as BOV, or “broker opinion of value.” But an appraisal report prepared for the creditor’s law firm gave a lower value, $14.1 million. Monthly taxes are something under $11,000.

Several potential sales have fallen through over the past few years, according to Y. David Scharf, Laub’s lawyer. “Some have been because of non-cooperation of the lenders,” Scharf told The Post.

Before the pandemic, “there was a firm offer for about $17.5 million,” but it required the cooperation of two mortgage lenders, one of which was “wildly difficult,” Scharf said. “We couldn’t get all the parties together quickly enough and lost an excellent sale.”

Pandemic issues “drastically curtailed Mr. Laub’s extensive efforts to sell his property,” with the elimination of in-person showings and “the travel ban against European visitors who make up the largest pool of potential purchasers,” according to court papers filed by another of Laub’s lawyers.

There are five bedrooms, according to the listing.

In the spring, a marketing report by Nest Seekers International, filed by one of Laub’s lawyers in a different litigation, said the house had been brightened by more than $50,000 in improvements that included fresh landscaping, paint and mechanical repairs. At that point, Nest Seekers held the listing, asking $15.99 million.

Without such action, the property “otherwise may fall into a dilapidated and despaired condition and as a result depreciate significantly,” the marketing report said. “Everyone involved should be grateful and optimistic.”

Additionally, Nest Seekers spent no less than that sum, $50,000, on marketing and events.

The marketing report mentions two potential buyers, one being “a resident of the neighborhood of a prominent ultra-high net worth New York family” who is “likely our end user buyer. We are proceeding eloquently and patiently, but with requisite alacrity given the nature of the proceedings … We have never been more confident in our activities and state of the market and strongly believe we are headed to a deal with one of the current prospects over the next months. The property is priced exactly where it should be, and the worst of market conditions have bottomed out and are now behind us.”

Neither optimism nor confidence, however, translated into a sale. This month, according to an update on StreetEasy, the listing went to The Agency.

On the Upper East Side, where 163 E. 64th St. is located, the firstt half of 2024 saw some 24 townhouse deals, according to a report by the brokerage Leslie Garfield.

In the first half of 2024, the Upper East Side — where Laub’s dwelling stands — saw 26 townhouse transactions, according to a report by Leslie Garfield, a brokerage specializing in townhouses.

Townhouses represent just 2% of annual home sales in Manhattan.

“Think of the townhouse market as a subset of luxury, at the top tier of the market,” said Jonathan Miller, president of the appraisal firm Miller Samuel.

The townhouse, in all its neo-Georgian glory, is 20 feet wide.

A grand staircase connects the home's levels.

“The average townhouse is 18 feet wide, so 20 is wider than normal,” though still not uncommon, Miller said. The greater the width, the more flexible the floor plan. “I remember being in the house,” he added. “I remember it being beautiful.”

Laub’s house — with its current $15.99 million ask — is listed as having 8,000 square feet. Some insiders call the figure misleading, however, since that includes the basement space. City records say the “gross living area” is 6,716 square feet.

Though the appraisal report characterizes the house’s Lenox Hill neighborhood near Lexington Avenue as “one of style and affluence,” it says that a location closer to Central Park would be “superior.”

That’s ridiculous, Miller says: “It’s a beautiful block.”

The backyard is small, but so are many townhouse backyards. “It’s almost better to have a roof terrace, to have more light,” Miller said.

Zoning allows the addition of a floor on top.

“But you have to build it, and roof rights don’t have the same value as finished indoor space,” Miller said.

The elevator is a real plus. Last year, just 10% of East Side townhouses sold had one. The lift in this home, originally installed in 1923, was redone inside by Laub’s designer, Ronald Bricke.

“The elevator is well-done and well-located,” said one real-estate insider. “For a lot of buyers, an elevator is a make-or-break amenity because it is hard to carve out a space for an elevator without really breaking up the floor plan.”

The house even has radiant heat beneath the sidewalk — no shoveling necessary.

“Properties like this are unique,” Scharf said. “They have individual features and it is difficult to compare. Like all unique properties, it is subject to many vagaries. All it takes is one person who really wants it to pay $18 million, and all you need are two people to have it suddenly be a $19-million or $20-million sale.”

The spacious kitchen located on the garden floor.

Now, as the house hits the market yet again, will it actually sell?

The museum-like interior, Antretter acknowledged, is not for everybody. “But the bones are excellent,” he said. “If the wallpaper isn’t to your style, you can bring your designer and do an update. If you go to the guest suites, you will feel like you are in Claridge’s.”

“If somebody doesn’t have an appreciation for a 19th century chandelier, we can exclude certain fixtures,” he said. That 19th century chandelier, made of bronze, is adorned with sea nymphs.

Laub currently lives in the house with his housekeeper, Winnie.

“I owned a yacht in the South of France called Exocet,” he told The Post. “My chef, Franck, and first mate, Andre, used to work at the house full time when we were not at sea. Then, when they were ready to move on, they found me my majordomo, Winnie, whom I’ve had for the last 18 years.”

Should Laub actually move, he says, he won’t stray far at all.

“I’m a true blue New Yorker and have lived in Manhattan since college,” he said. “That’s 63 years. New York, to me, is the cultural center of the world. I’m no snowbird. I will remain in the neighborhood and probably just rent a three-bedroom apartment.”

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ID: 5939310. The luxury yacht market size has grown strongly in recent years. It will grow from $6.9 billion in 2023 to $7.56 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The expansion observed in the historical period can be attributed to strong economic growth in emerging markets, an increase in spending on recreational ...
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The Luxury Yacht Market Report is Segmented by Type (Sailing Luxury Yachts, Motorized Luxury Yachts, and Others), by Size (Up To 20 Meters, 20 To 50 Meters, and Above 50 Meters), by Application (Commercial and Private Use) and by Geography. The Report Offers Market Size and Forecasts for Luxury Yacht Market in USD Million for the Above Segments.
US Luxury Yacht Market 2024-2033
Reports Description. As per the current market research conducted by the CMI Team, the US Luxury Yacht Market is expected to record a CAGR of 8.4% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 4,507.5 Million.By 2033, the valuation is anticipated to reach USD 9,315.3 Million.. The US luxury yacht market represents a segment of the maritime industry ...
Luxury Yacht Market Size Sales Trends & Growth Report 2032
Luxury Yacht Market Size & Overview: Get More Information on Luxury Yacht Market - Request Sample Report. The Luxury Yacht Market size was USD 7.36 billion in 2023 and is expected to Reach USD 15.16 billion by 2032 and grow at a CAGR of 8.35% over the forecast period of 2024-2032. The luxury yacht market is evolving with a focus on ...
Luxury Yacht Market Size, Trends, Growth, Analysis Report 2023-2027
Luxury Yacht Market Forecast 2023-2027. The luxury yacht market is estimated to grow by 366 thousand units at a CAGR of 11.26% between 2022 and 2027. The increase in recreational tourism is driving demand for luxury travel experiences and accommodations. Digital marketing and increasing social media use are enabling luxury brands to reach a ...
Global luxury yacht market size
Industry & Market reports. Industry and market insights and forecasts ... "Size of the global luxury yacht market in 2019 and 2020, with a forecast for 2021 through 2030 (in billion U.S. dollars ...
Top 4 Luxury Yacht Manufacturers Companies in the World
Top 4 Leading Companies Explored by EMR for Luxury Yachts Market Across the World. Posted on 27 Jul 2022. Azimut Benetti S.p.A, Ferretti SPA, Lürssen, Feadship, Fincantieri S.p.A., Horizon Yacht USA, and Heesen Yachts Sales B.V., among others, are the major players in the global luxury yachts market. In the forecast period of 2022-2027, the ...
Yacht Market Report 2022
The yacht market weathered the uncertainty of the past two years and has come out stronger than ever before. This year has broken all records for yacht sales, with 545 yachts sold in the first three quarters of 2022, according to global superyacht brokerage Fraser. That's compared to 277 yachts sold for the same period last year and is double ...
Azimut|Benetti Group Report Strong Growth At Cannes Yachting ...
Noting a strong upward trend in the Group's revenues, the team announced revenues were up from €840 million in 2020 to €1.3 billion in 2023-24, signaling 55% growth.
Monaco Yacht Show 2024: The Biggest, Boldest and Most Expensive
Kismet The 400-ft Kismet is the largest superyacht on display at Monaco Yacht Show 2024 / ©Lürssen. The undisputed biggest headline of this year's show - in every sense of the word - Lürssen's Kismet will be the largest yacht to go on display in Port Hercules. While the previous title holder was another from Lürssen, the 377.6-ft Ahpo, the Kismet takes its victory by a considerable ...
Megayachts and oligarchs: 'We're scared of getting close to ...
Richard Lambert, whose yacht brokerage firm Burgess reported a record-breaking $2.2bn in sales last year, says the global yacht market has seen a stunning increase.
Top 5 Trends in the Superyacht Industry in the Era of «COVID-19»
your luxury charter. choose the yacht. full displacement; semi displacement; fast; celebrity; sail; explorers; exclusivity; types of charters; how to book your luxury ...
KPS Capital Partners to Acquire Controlling Ownership of Princess Yachts
Investment will Accelerate Company's Growth and Innovation. New York, NY (February 13, 2023) -- KPS Capital Partners, LP ("KPS") announced today that it has entered into a definitive agreement to acquire a controlling equity interest in Princess Yachts (Holdings) Limited, ("Princess Yachts" or the "Company"), a leading global manufacturer of luxury motor yachts.
Will luxury yachts find a home in India's coastal waters soon?
Mostly, yachts are imported. The Indian yacht market generated a revenue of $115.1 million in 2023 and is expected to reach $162.9 million by 2030, according to report by Grand View Research, an ...
Exclusive
For 21 years, the grand townhouse at 163 E. 64th St. has been on and off the market, bouncing among nearly every brokerage in town. The property first listed in 2003, and at its peak asked $35 ...