luxury yacht market report

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• Luxury Yacht Market

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Luxury Yacht Market Size, Share & COVID-19 Impact Analysis, By Type (Motor Yachts and Sailing Yachts), By Size (Up to 50 Meters, 50 to 100 Meters, and More than 100 Meters), By Application (Personal use and Commercial use), and Regional Forecast, 2023-2030

Region : Global | Format: PDF | Report ID: FBI105396

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KEY MARKET INSIGHTS

The global luxury yacht market size was valued at USD 6.40 billion in 2022. The market is projected to grow from USD 7.67 billion in 2023 to USD 13.67 billion by 2030, exhibiting a CAGR of 8.6% 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.

COVID 19 IMPACT:

Growing Need for Seclusion to Surge Private Yachting Demand Post COVID-19 Pandemic

The pandemic had a major impact on the luxury yacht market growth. As the COVID-19 pandemic spread rapidly across the world, several countries closed their borders and restricted travel. This had a major impact on the travel & tourism industry. Initially, the market experienced a slowdown in sales and demand due to global uncertainty and travel restrictions. Many potential buyers postponed or canceled their purchases, causing a decline in sales. Ever since the first case of infection was reported, people grew more sensitive and cautious about protecting themselves from exposure to the virus. One of the steps that people had adopted toward staying safe was refraining from travel. This led to declining charter bookings, revenues, and demand for luxury yachts. Canceled yacht shows and events kept the potential buyer away from the market.

• For instance, in November 2021, The Ritz-Carlton Yacht Collection luxury cruise line had to postpone its inaugural voyage of its first ship, the Evrima, from November 2021 to May 6, 2022.

As travel restrictions eased and vaccination rates surged, the demand for luxury yachts increased. An increase in the desire for seclusion and social distancing among affluent individuals led to private yachting, creating more demand for yachts. The pandemic prompted a shift in travel preferences as well. Remote and off-beaten paths gained popularity among tourists. Buyers were inclined to customize their yachts to suit their requirements, such as personalized onboard amenities, state-of-the-art entertainment systems, wellness facilities, and eco-friendly features.

Despite initial challenges, the luxury yacht market trends demonstrated resilience and adaptability toward changing scenarios during the outbreak. Luxury yacht manufacturers and brokers adjusted their policies to meet the changing customer demands. The market has been recovering, depending on local economic conditions and has indicated a positive outlook.

LATEST TRENDS

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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 a high-capacity 100 kWh lithium-ion battery , the latest-generation permanently excited synchronous electric motor (PSM), and state-of-the-art power electronics.

DRIVING FACTORS

Increasing Number of UHNWIs to Surge Product Demand

The proportion of Ultra-high Net Worth Individuals (UHNWIs) continues to rise. The superyacht industry has benefited from the proliferation of billionaires and super-rich people. Most, if not all, yacht brokerage firms are reporting record sales at the world's leading shipyards and their backlogs continue to grow.

This positive trend has also spread to the yacht market, with record numbers of first-time charters registered in 2021. New charter customers accounted for around 40% of the luxury charter market in 2021, according to the latest yacht marketing insights from Fraser, one of the world's leading yacht brokerage firms. More ultra-rich people want to make extravagant investments to suit their lifestyle. The rising interest in luxury yachts around the world will drive the market. In addition to this, the number of wealthy individuals around the world continues to grow. The luxury yacht market share is expected to grow at a robust pace during the forecast period owing to the rising interest in luxury cruising and a steady increase in high-net-worth companies, especially in the Asia Pacific region.

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.

SEGMENTATION

By type analysis.

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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.

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.

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 growing population of high net worth individuals have increased the 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 commercial use segment growth.

REGIONAL INSIGHTS

Europe Luxury Yacht Market Size, 2022 (USD Billion)

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

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 issueance 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.

KEY INDUSTRY PLAYERS

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 526,000 sq.m. of a 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 shipyard 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:

• 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.
• March 2023: Ferretti Group, a leader in luxury yacht manufacturing, acquired a 70,000-sq.m. production site in Ravenna. The company planned to invest USD 87 million in its new facility to build new production spaces and R&D centers. The company aims that with this new facility, there will be a 20% increase in its production.
• September 2022: Ferretti Group acquired significant stakes in Masello Srl and Fratelli Canalicchio SpA. Both companies are Italy-based. Masello Srl, based in Fano, Italy, is an expert in wooden furniture for yachts and recently launched an innovative onboard assembly service. Fratelli Canalicchio SpA, based in Narni, Italy, specializes in static exteriors and automatic kinetic systems for yachts.

REPORT COVERAGE

An Infographic Representation of Luxury Yacht Market

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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.

Report Scope & Segmentation

Frequently asked questions.

Fortune Business Insights says that the global market was valued at USD 6.40 billion in 2022. The global market is projected to grow to USD 13.67 billion by 2030.

The market is expected to register a CAGR of 8.6% during the forecast period of 2023-2030.

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

Europe led the global market in 2022.

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• PUBLISHED ON: Aug, 2023
• BASE YEAR: 2022
• HISTORICAL DATA: 2019-2021
• NO OF PAGES: 200

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The global luxury yacht market size is projected to grow from $7.67 billion in 2023 to $13.67 billion by 2030, at a CAGR of 8.6% during the forecast period

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Last Year’s Market Report 2022

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• The Business End of the Yachting Business and Meeting the Yachtsman’s Expectation by David Tydeman
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Market Report 2020

• The Market Report 2020 by Sue Grant
• Sailing Yacht Review by Alan McIlroy; footnote by Sophie Kemp
• Motor Yacht Review by Hugh Rayner
• The Windy UK and Pearl Yachts Review by Ben Toogood
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• The 2020 Berthon Forecast by Sue Grant

Editor’s Note: Much of the 2020 Berthon Market Report was written before the Covid-19 crisis gathered momentum. We decided to continue with this publication, just updated slightly. Of course we cannot know the impact of this crisis on all aspects of life going forward not just yachting, so we will not guess. We ask you all to stay safe, keep well and we hope that you will enjoy these jottings.

Market Report 2019

• Market Report 2019 Opening Remarks By Sue Grant
• Sailing Yacht Review By Alan McIlroy; footnote by Sophie Kemp
• Motor Yacht Review By Hugh Rayner; footnote by Robert Steadman
• Performance Yacht Review By Ben Cooper
• The Windy UK, Pearl and Iguana Review By Ben Toogood
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• THE CONFIDENCE & CURRENCY GAME
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• 2019 Berthon Forecast By Sue Grant

Market Report 2018

• Market Report 2018 (Opening Remarks) By Sue Grant
• Sailing Yacht Review By Alan McIlroy and Sophie Kemp
• Motor Yacht Review By Hugh Rayner
• Performance Yacht and Advanced Yachts Review By Ben Cooper
• Solaris Review By Richard Baldwin
• The Windy UK Review By Ben Toogood
• Berthon USA Review By Jennifer Stewart, Alan Baines and Bill Rudkin
• A word about GDPR
• The Pacific and Southern Hemisphere as a cruising destination
• Technology in Design moving through the build process
• Residual Yacht value and the cost of having fun
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• VAT and Brexit- What it might, might not and certainly won’t mean
• The Magic of Film
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• 2018 Berthon Forecast

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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

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.

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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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Market Overview:

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 increasing wealth among affluent individuals and their interest in exclusive leisure activities, the growing emphasis on experiential luxury, and the expansion of marine tourism and the advent of luxury charter services are some of the factors that are propelling the market.

A luxury yacht is a highly sophisticated vessel that combines performance, comfort, and style, catering to the tastes of affluent individuals. Often ranging from under one hundred feet to several hundred feet in length, these yachts are characterized by elegant design, state-of-the-art technology, and remarkable amenities. Equipped with advanced navigation systems, powerful engines, and intricate craftsmanship, ensuring optimal functionality and aesthetic appeal. The working mechanism involves the seamless integration of various systems, such as propulsion, stabilization, communication, and entertainment, to provide an unparalleled sailing experience. They are commonly used for private leisure activities, offering privacy, freedom, and a personalized experience. Besides as modes of transportation, these yachts are utilized as a symbol of status and luxury, featuring amenities such as Jacuzzis, gyms, cinemas, and fine dining facilities.

The global market is primarily driven by the increasing wealth among affluent individuals and their interest in exclusive leisure activities. In line with this, the rise in private charters and a preference for customized, high-end designs tailored to individual tastes are also providing an impetus to the market. Moreover, the burgeoning tourism industry and the desire for remote, luxurious travel experiences are also acting as significant growth-inducing factors. In addition to this, technological advancements in navigation, propulsion, and on-board entertainment are resulting in an enhanced appeal for these vessels. The market is further driven by strategic partnerships and collaborations among yacht manufacturers and designers. Some of the other factors contributing to the market include the increasing importance of status symbols among the elite, the influence of global travel trends on luxury spending, the development of advanced docking facilities and extensive investment in research and development (R&D) for innovative yacht features and technologies.

Luxury Yacht Market Trends/Drivers:

Implementation of stricter environmental regulations The introduction of stricter environmental regulations is having a profound impact on the market. As global awareness of environmental issues grows, there is increasing pressure on industries to reduce their carbon footprint and adhere to sustainable practices. In line with this, yacht manufacturers are compelled to innovate and develop eco-friendly yachts that align with both regulatory requirements and the values of environmentally conscious consumers. The integration of renewable energy sources such as solar panels, wind turbines, and hybrid propulsion systems are part of this initiative. Manufacturers are also focusing on using sustainable materials and reducing waste during construction. These environmentally friendly practices are not only meeting legal obligations but also enhancing the appeal of luxury yachts among a new generation of affluent clients who prioritize sustainability. This combination of regulatory compliance and consumer demand is driving substantial investment in research, development, and implementation of green technologies within the industry, setting a new standard for the entire sector.

Growing emphasis on experiential luxury The concept of experiential luxury is another pivotal driver in the market. The high-net-worth individuals are increasingly seeking unique and personalized experiences that reflect their individual tastes and values. This goes beyond mere ownership and extends to how the yacht can provide a one-of-a-kind, luxurious experience. Customized interiors, exclusive amenities, on-board chefs offering gourmet cuisine, and personalized itineraries are some examples of how this trend is being realized. The ability to create memories and offer experiences that are not easily replicable elsewhere is becoming a defining factor in luxury consumption. Yacht manufacturers and designers are collaborating closely with clients to understand their specific needs and desires, allowing them to craft yachts that are more than mere vessels but extensions of their owners' personalities and lifestyles. This focus on experiential luxury is not only meeting but exceeding customer expectations, reinforcing the allure of owning a luxury yacht.

Expansion of marine tourism and the advent of luxury charter services

The remarkable expansion of marine tourism and the advent of luxury yacht charter services have emerged as essential factors driving the luxury yacht market. In recent years, marine tourism has seen significant growth, particularly among affluent travelers seeking unique and opulent vacation experiences. Simultaneously, the rise of luxury yacht charter services has made it possible for more individuals to experience the grandeur of yachting without the need for ownership. These charter services provide flexibility, allowing clients to choose from a wide range of vessels, destinations, and durations, all tailored to individual preferences and budgets. Moreover, partnerships between tourism boards, travel agencies, and yacht charter companies are further promoting marine tourism and making luxury yachts more accessible. This synergy is not only expanding the customer base but is also encouraging continuous innovation in amenities, services, and destinations, ensuring that the luxury yacht market remains vibrant, competitive, and responsive to evolving consumer needs and desires.

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 Industry 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:

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• Sailing Luxury Yacht
• Motorized Luxury Yacht

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.

Motorized luxury yachts are favored for their higher speeds and convenience, appealing to clients seeking efficient and swift travel between multiple destinations. Additionally, these yachts provide abundant deck space and luxury amenities, catering to those desiring opulence and entertainment options while on board.

On the other hand, the sailing luxury yacht segment is driven by its strong nautical tradition and the romantic appeal of cruising on the open sea, offering a unique and authentic maritime experience. Moreover, the growing focus on environmental consciousness attracts individuals who view sailing yachts as a greener and more eco-friendly option compared to motorized yachts. 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.

Yachts in the 75-120 feet size range strike a balance between spaciousness and maneuverability, attracting clients seeking versatility and access to various cruising destinations. This segment appeals to both private owners looking for a personal yacht and those interested in charter services, supporting market growth through diverse usage.

On the other hand, yachts ranging from 121 to 250 feet offer exclusivity, grandeur, and long-range cruising capabilities, appealing to high-net-worth individuals looking for opulent experiences and the ability to explore remote destinations.

Furthermore, the superyacht category, or yachts above 250 feet provide the ultimate luxury with unparalleled customization possibilities, making them the preferred choice of the most discerning clientele. Furthermore, some yachts in this category are designed for corporate events or operate as charter vessels, catering to both private and commercial demand. Breakup by Material:

• FRP/ Composites
• Metal/ Alloys
• Others  

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.

Yachts constructed with fiberglass-reinforced plastics (FRP) and composites offer innovative design possibilities, allowing for unique and modern aesthetics. Additionally, the lightweight nature of these materials contributes to fuel efficiency, reducing operational costs and appealing to environmentally conscious clients.

On the other hand, metal and alloy construction are known for their durability, making them ideal for clients seeking sturdy and long-lasting yachts capable of withstanding challenging sea conditions. The customization potential in large yachts made from metals and alloys further enhances their appeal to affluent buyers. Breakup by Application:

• Private  

Commercial accounts for the majority of the market share

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 commercial segment thrives on the demand for charter services, corporate events, and luxury tourism, offering a reliable stream of revenue for yacht companies. Additionally, having a diversified portfolio that includes charter services and events provides stability and growth opportunities in the luxury yacht industry.

On the other hand, the private segment caters to individuals seeking an exclusive and personalized yacht ownership experience, reflecting status and individual preferences. Offering discreet, high-end services such as onboard staff, personalized itineraries, and access to private events enhances the allure of private yacht ownership, driving demand in this segment. Breakup by Region:

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United States

• South Korea

United Kingdom

• Middle East and Africa  

North America exhibits a clear dominance, accounting for the largest luxury yacht market share

The report has also provided a comprehensive analysis of all the major regional markets, which includes North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others); Latin America (Brazil, Mexico, and Others); and the Middle East and Africa. According to the report, Asia Pacific represented the largest market. North America's luxury yacht market thrives on the significant population of high-net-worth individuals who prioritize exclusive leisure experiences. The region's affluent clientele, renowned for their discerning tastes and desire for opulent living, fuel the demand for luxury yachts as the epitome of sophisticated indulgence.

Moreover, the well-established yachting infrastructure in North America plays a pivotal role in supporting and nurturing the luxury yacht market. The presence of world-class marinas, state-of-the-art shipyards, and a plethora of supporting services, ranging from yacht maintenance to concierge assistance, ensures a seamless and lavish yachting experience for clients. This infrastructure not only enhances the convenience of yacht ownership but also fosters a thriving ecosystem for yacht enthusiasts.

Furthermore, the augmenting demand of cruising along the coasts and islands of North America along with the experience of luxurious waterfront destinations contributes to the market growth in the region. As a result, North America offers a diverse range of cruising opportunities that appeal to the elite travelers seeking extraordinary and unforgettable journeys.

Competitive Landscape:

The major yacht manufacturers are heavily investing in research and development. This investment is focused on introducing innovative features, enhancing the sustainability of yachts, and incorporating cutting-edge technology such as advanced navigation systems, hybrid propulsion, and personalized on-board entertainment solutions. In line with the trend towards experiential luxury, many yacht manufacturers are emphasizing customization. They are working closely with clients to create tailor-made yachts with unique designs and features that reflect the individual tastes and lifestyles of their owners. As sustainability becomes a key concern for consumers, leading yacht manufacturers are working towards developing eco-friendly models, including the use of renewable energy, sustainable materials, and energy-efficient designs. They are also working closely with clients to create tailor-made yachts with unique designs and features that reflect the individual tastes and lifestyles of their owners.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the 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

Recent Developments:

• In June 2023, Azimut - Benetti S.P.A. and ENI sustainable mobility have signed an agreement for the supply and use of hvolution, the biofuel produced from 100% renewable raw materials. This is the first yachting industry agreement that targets decarbonization.
• In July 2023, Mercury Marine, a division of Brunswick Corporation announced that it has begun serial production of its new 20e and 35e Avator electric propulsions systems, with release for sale planned for later in 2023. Mercury has committed to the introduction of five Avator products in 2023.
• Damen Shipyards Group announced the first sale of its innovative Damen Air Cavity System (DACS) to Amisco on July 2023. Damen will retrofit the DACS system to Amisco’s cargo vessel Danita in Tallinn, Estonia. DACs is an air lubrication system, borne out of a collaboration between Damen and the Delft University of Technology (TU Delft). It maintains a thin layer of air over the flat bottom of a vessel’s hull, reducing resistance in the water, thereby lowering drag and friction. As a result, the efficiency of the vessel is improved with fuel consumption reduced by up to 15%.

Luxury Yacht Market Report Scope:

Key benefits for stakeholders:.

• IMARC’s 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 study 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 assist 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.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an 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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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.

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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

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.

Table of Content

List of tables, list of charts.

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Statistics for the 2023 & 2024 Luxury Yacht market trends, created by Mordor Intelligence™ Industry Reports. Luxury Yacht trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of Luxury Yacht Industry

Increase in number of billionaires driving the 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 no of billionaires at 735, followed by China at 495. Moreover, the total number of billionaires has increased from 102 in 2020 to 166 in 2022 in India, and the wealth of India's richest billionaires increased by an average of 46% in 2022.
• 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.

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.
• In the last five years, European customers (Eastern, Southern, and Western Europe, as well as Scandinavia) have purchased nearly 40% of all new 40-meter builds globally. Furthermore, 15% of the new 40-meter yachts manufactured remained unsold until the first quarter of 2022. Implying that Europe owns a sizable portion of the market.
• 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 Report Snapshots

• Luxury Yacht Market Size
• Luxury Yacht Market Share
• Luxury Yacht Companies

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• Luxury Yacht Market

Luxury Yacht Market Research Report By Size (75-120 feet, 121-250 feet, and Above 250 feet), by Type (Sailing luxury Yacht, Motorized Luxury Yacht and Others), by Material (FRP/Composites, Metal/Alloys, Others), and By Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America) –Market Forecast Till 2032

ID: MRFR/AM/9400-CR | 128 Pages | Author: Sejal Akre | March 2024         

• Segmentation
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Global Luxury Yacht Market Overview

Luxury Yacht Market Size was valued at USD 6,900.7 million in 2022. The Luxury Yacht Market industry is projected to grow from USD 7,404.4 Million in 2023 to USD 14,199.9 million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.50 % during the forecast period (2023 - 2032).  The luxury yacht refers specifically to the marine industry sector that focuses on buying and selling high-end, lavish, and extravagant yachts. These yachts are typically larger and boast cutting-edge technology, luxurious features, and top-quality finishes. The luxury yacht industry has been on an incredible growth trajectory in recent decades, largely fueled by the increasing wealth of individuals around the world. These magnificent vessels, often likened to floating mansions or palaces, represent the pinnacle of design, technology, and onboard opulence.

As per Analyst at MRFR, “The luxury yacht industry has seen several growth factors in recent years, fueled by rapid urbanization that has boosted disposable income and a booming tourism industry driving demand for experiential luxuries. With rising consumer spending power, these dynamics have expanded the potential customer segment for luxury yachts market.

Figure 1: Luxury Yacht Market Size 2019-2032 (Usd Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

 Luxury Yacht Market Trends

Rising expenditure capacity of the consumers.

The rising expenditure capacity of consumers presents an opportunity in the luxury yacht market. As consumers' wealth and disposable income grow, they have the financial resources to indulge in luxury activities like owning a yacht. This trend opens up a larger pool of customers for luxury yacht manufacturers and sellers. Higher purchasing power makes consumers more likely to buy luxury yachts to showcase their status, prestige, and lavish lifestyle. They can afford the substantial costs associated with yacht ownership, such as the purchase price, upkeep, crew, and other related expenses. The rising expenditure capacity of consumers also allows for the development of cutting-edge and technologically advanced luxury yachts. Manufacturers can invest in research and development to create innovative features, luxurious amenities, and eco-friendly technologies to meet the demands of wealthy consumers.

Additionally, the growth of emerging markets and the global distribution of wealth presents opportunities for luxury yacht companies to expand their business and tap into new markets with an increasing demand for luxury goods and experiences. Overall, the growing expenditure capacity of consumers creates a favorable environment for the luxury yacht market, enabling companies to cater to the desires of affluent individuals and provide them with exclusive and extravagant yachting experiences.

 Luxury Yacht Market Segment Insights

 luxury yacht size insights.

Based on size, the Luxury Yacht Market has been segmented into 75-120 feet, 121-250 feet and Above 250 feet. 121-250 feet would be the majority shareholder in 2022, contributing 47.8 % to the market revenue. Yachts in the 121-250 feet range are luxurious and sophisticated, catering to an elite client. They provide expansive interiors, cutting-edge technology, and the capacity to host larger groups of guests. The major factors driving the growth of the sector include the increasing demand for extended and opulent voyages, corporate yacht charters , and the desire to make a memorable touring event. The customer for these luxury Yatches mainly is from Ultra-high-net-worth individuals and businesses, who are drawn to the allure of these larger yachts, which can offer a range of amenities from gourmet dining options to wellness centers.

 Luxury Yacht Type Insights

Based on type, the Luxury Yacht Market has segmented into sailing luxury yacht, motorized luxury yacht and others. The motorized luxury yacht held the largest market share in 2022, as theses luxury yachts are well-known for their speed, power, and modern design. These yachts are equipped with strong engines that allow them to cruise quickly and efficiently, making them perfect for covering long distances and exploring various destinations. The main reasons behind the popularity of motorized luxury yachts include the desire for convenience and speed, particularly for those who want to make the most of their time on the water and visit multiple places in one journey.

 Luxury Yacht Material Insights

Based on material, the Luxury Yacht Market is segmented into FRP/composites, metal/alloys, others. Fiber-Reinforced Plastics (FRP) and composites held the majority share in 2022. Fiber-Reinforced Plastics (FRP) and composites are materials that are used in yachts. Fiber-Reinforced Plastics (FRP) and composites offer several advantages in yacht construction. The growth of the sub-segment is mainly driven by the advantage it offers. These materials are preferred for their lightweight nature, making yachts more fuel-efficient and easier to handle. Additionally, they provide exceptional strength and durability, offering resistance against impacts and harsh weather conditions that are common in marine environments. One of their key benefits is corrosion resistance, which is crucial in preventing damage caused by saltwater. Moreover, FRP/Composites allow for creative and personalized yacht designs, as they can be molded into intricate shapes. This high strength-to-weight ratio means they are both robust and lightweight.

Figure 2: Luxury Yacht Market, By Material, 2022 Vs 2032 (Usd Million)

Luxury Yacht Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. Europe accounted for ~ 46.4 % of Luxury Yacht Market in 2022. Luxury Yachts are becoming more popular in Europe. The luxury yacht market in the Europe region encompasses regions such as UK, Germany, Spain, France, Italy, and Rest of the Europe. According to European Union, the household disposable income per capita in the EU grew in total by 14 % between 2000 and 2009 and by 14 % between 2013 and 2021.The rise in disposable income followed by presence of High-Net-Worth Individuals (HNWI) and the rising adoption of technologically advanced yachts are some of the driving factors of the market. The market is also growing because of the growing tourism industry in the region. With the growing preference for coastal and marine tourism, there has been a rise in investments in luxury yachts.

Asia Pacific is one of the fastest growing markets for Luxury Yacht in the world. The Asia Pacific luxury yacht market is growing rapidly due to several factors. The region has an extensive coastline of over 135,000 kilometres and many picturesque islands, making it an ideal location for maritime enthusiasts. The tourism sector is also driving demand for luxury yachts as travellers seek unique and memorable experiences. The region's rising living standards and growing income levels are further fuelling the demand for luxurious Yachts in the region. China, in particular, has seen a surge in demand for luxury yachts, driven by their utility in hosting business meetings, parties, and various high-profile events. Governments across the region are taking proactive steps to boost the yacht industry, and the demand for luxury yachts continues to rise due to the sizable young population in Asia Pacific showing growing enthusiasm for sailing and maritime activities.

Figure 3: Luxury Yacht Market Size By Region 2022 Vs 2032

Further, the major countries studied in the market report are the U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, China, Japan, and India, UAE, Saudi Arabia, South Africa, Brazil , Argentina and Others.

 Luxury Yacht Key Market Players & Competitive Insights

The Luxury Yacht Market is characterized by the presence of many global, regional, and local vendors. The Luxury Yacht market has witnessed significant growth over the forecast period due to rapid urbanization, along with significant growth in the recreational tourism sector.There are several domestic, regional, and global players operating in the Luxury Yacht market who continuously strive to gain a significant share of the overall market. During the study, MRFR has analyzed some of the major players in the Luxury Yacht market who have contributed to the market growth. During the study, MRFR has analyzed some of the major players in the Luxury Yacht Market who have contributed to the market growth includes 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 among others.

These players focus on expanding and enhancing their product portfolio and services to remain competitive and increase their customer base. Additionally, these players are focusing on partnerships & collaborations to expand their business and customer base to enhance their market position.

Key Companies in the Luxury Yacht Market include.

• Alexander Marine Co Ltd
• Damen Shipyards Group
• FERRETTI S.P.A.
• Horizon Yacht USA
• Princess Yachts International plc
• Sanlorenzo Spa
• Sunseeker International Limited
• Viking Yacht Company

 Luxury Yacht Industry Developments

• In February 2023, Horizon Yachts has introduced the new tri-deck FD100, a customized model. The yacht, featuring five staterooms, emphasizes spaciousness and elegance. The aft deck boasts a large seating area, a bar, and fishing amenities. The interior showcases modern elements, including a dining area and a well-equipped galley. The master stateroom offers ample space, and the lower deck includes three queen-size VIP staterooms and a convertible twin.
• In January 2023, Princess Yachts unveiled the Princess S72, a 23-meter addition to its S-Class line. The interior features a luxurious saloon, four ensuite cabins, and a spacious outdoor area with a dining space, wet bar, and sunbeds. The yacht's garage accommodates a 3.9m tender and two Seabobs, while a separate transom door leads to a twin-berth crew cabin.

Luxury Yacht Market Segmentation:

Luxury yacht size outlook.

• 75-120 feet
• 121-250 feet
• Above 250 feet

Luxury Yacht Type Outlook

• Sailing luxury Yacht
• Motorized Luxury Yacht

Luxury Yacht Material Outlook

• FRP/Composites
• Metal/Alloys

Luxury Yacht Regional Outlook

• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Saudi Arabia
• South Africa
• Rest of MEA
• Rest of South America

Report Scope:

Luxury yacht market highlights:, frequently asked questions (faq) :, how much is the luxury yacht market.

The Luxury Yacht Market size is expected to be valued at USD 6,900.7 Million in 2022.

What is the growth rate of the Luxury Yacht Market?

The global market is projected to grow at a CAGR of 7.5 % during the forecast period, 2023-2032.

Which region held the largest market share in the Luxury Yacht Market?

Europe had the largest share of the global market.

Who are the key players in the Luxury Yacht Market?

The key players in the 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 among others.

Which Type led the Luxury Yacht Market?

The Motorized Luxury Yacht category dominated the market in 2022.

Key Questions Answered

• ✅ Global Market Outlook
• ✅ In-depth analysis of global and regional trends
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• ✅ To identify opportunities in the market.
• ✅ Analyze the key challenges in the market.
• ✅ Analyze the regional penetration of players, products, and services in the market.
• ✅ Comparison of major players’ financial performance.
• ✅ Evaluate strategies adopted by major players.
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Luxury Yachts Market

Global Luxury Yachts Market Size, Share, Trends, Forecast: By Size: 75-120 Feet, 121-250 Feet, Above 250 Feet; By Material: FRP and Composites, Metal and Alloys, Others; By Type: Sailing, Motorised, Others; By End Use: Commercial, Private; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

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Global Luxury Yachts Market Outlook

The global luxury yachts market is expected to grow at a CAGR of 8% in the forecast period of 2024-2032.

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The Prominent European Market Bolstering the Growth of the Global Market for Luxury Yachts

The rising demand from the high net worth individuals (HNWI) combined with a prominent presence of the major key players in the regions makes Europe one of the most significant markets for luxury yachts. The market in the region is expected to witness a continued growth in the coming years due to the rising R&D activities and technological advancements. The growing investments by OEMs in Europe to ensure luxurious, comfortable, and high-tech interiors is further expected to catalyse 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. While the United Kingdom houses many of the major HNWI consumers, with BREXIT, many competitors in the market are expected to shift to other EU countries. Italy is one of the most prominent markets for luxury yachts due to a strong presence of domestic yachts manufacturers and favourable government policies. In the coming years, the Italian market is expected to witness a rising trend of de-localisation, with the Italian manufacturers increasingly focusing on international and emergent markets due to the rising demand and lower labour costs.

The Asia Pacific is a major emerging market for luxury yachts due to the rising economies, growing disposable incomes, and growing manufacturing sector in the region. The favourable government initiatives, growing luxury tourism sectors, and increasing participation in marine recreational activities are expected to propel the market growth in the region. Some of the major markets in the region are China, Singapore, Thailand, Indonesia, the Philippines, Japan, Malaysia, and Australia.

Luxury Yachts: Market Segmentation

Luxury yachts are large, opulent, and pleasure-focussed yachts for cruising. They can have a sail or be motorised. They are usually characterised by its high cost and luxurious amenities. They are usually manned by a private crew and is equipped with modern conveniences like power, HVAC systems, and entertainment systems.

Based on size, the market is categorised into:

• 75-120 Feet
• 121-250 Feet
• Above 250 Feet

By material, the market is divided into:

• FRP and Composites
• Metal and Alloys

On the basis of type, the industry is segmented into:

Based on end use, the market is bifurcated into:

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Population of High Net Worth Individuals (HNWI) to Propel the Market Growth of Luxury Yachts

The rising population of high net worth individuals, particularly billionaires, is primarily driving the demand for luxury yachts as they constitute the major consumer group in the market. The rising maritime tourism industry, bolstered by various government initiatives and increasing disposable incomes, is further propelling the market growth. The addition of heightened performance characteristics, improved customer experience, and expanding recreational space in luxury yachts is also catalysing the market. The product is usually equipped with modern conveniences like HVAC systems, TV, radar, navigation, autopilot, and a dependable power generating system, among other conveniences. In the coming years, technological innovations and optimisations in designs are expected to drive the market growth. The growing preference of lighter hull materials like fibre reinforced plastic (FRP) is projected to further propel the growth of the industry. FRP is lightweight, has low resistance, and has high corrosion resistance, which helps in increasing the speed and reducing the fuel consumption of the luxury yachts. These factors are expected to aid the adoption of FRP in the market.

The market might, however, face hindrances in its growth due to the rising implementation of government regulations regarding emissions and pollution, which might increase the costs of maintenance of the product. The industry is also expected to face a relative downturn, especially in its commercial segment, due to the outbreak of the COVID-19 pandemic and the related restrictions on travel and gathering.

Key Industry Players in the Global Luxury Yachts Market

The report gives a detailed analysis of the following key players in the global luxury yachts market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Azimut Benetti S.p.A
• Ferretti SPA
• Lürssen
• Fincantieri S.p.A.
• Horizon Yacht USA
• Heesen Yachts Sales B.V.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface 2    Report Coverage – Key Segmentation and Scope 3    Report Description     3.1    Market Definition and Outlook     3.2    Properties and Applications     3.3    Market Analysis     3.4    Key Players 4    Key Assumptions 5    Analysis of the COVID-19 Impact  6    Executive Summary     6.1    Overview     6.2    Key Market Drivers     6.3    Key Market Developments     6.4    Competitive Structure     6.5    Key Industrial Trends 7    Snapshot     7.1    Global     7.2    Regional 8    Industry Opportunities and Challenges 9    Global Luxury Yachts Market Analysis     9.1    Key Industry Highlights     9.2    Global Luxury Yachts Historical Market (2018-2023)      9.3    Global Luxury Yachts Market Forecast (2024-2032)     9.4    Global Luxury Yachts Market by Size         9.4.1    75-120 Feet             9.4.1.1    Market Share             9.4.1.2    Historical Trend (2018-2023)             9.4.1.3    Forecast Trend (2024-2032)         9.4.2    121-250 Feet             9.4.2.1    Market Share             9.4.2.2    Historical Trend (2018-2023)             9.4.2.3    Forecast Trend (2024-2032)         9.4.3    Above 250 Feet             9.4.3.1    Market Share             9.4.3.2    Historical Trend (2018-2023)             9.4.3.3    Forecast Trend (2024-2032)     9.5    Global Luxury Yachts Market by Material         9.5.1    FRP and Composites             9.5.1.1    Market Share             9.5.1.2    Historical Trend (2018-2023)             9.5.1.3    Forecast Trend (2024-2032)         9.5.2    Metal and Alloys             9.5.2.1    Market Share             9.5.2.2    Historical Trend (2018-2023)             9.5.2.3    Forecast Trend (2024-2032)         9.5.3    Others     9.6    Global Luxury Yachts Market by Type         9.6.1    Sailing             9.6.1.1    Market Share             9.6.1.2    Historical Trend (2018-2023)             9.6.1.3    Forecast Trend (2024-2032)         9.6.2    Motorised             9.6.2.1    Market Share             9.6.2.2    Historical Trend (2018-2023)             9.6.2.3    Forecast Trend (2024-2032)         9.6.3    Others     9.7    Global Luxury Yachts Market by End Use         9.7.1    Commercial             9.7.1.1    Market Share             9.7.1.2    Historical Trend (2018-2023)             9.7.1.3    Forecast Trend (2024-2032)         9.7.2    Private             9.7.2.1    Market Share             9.7.2.2    Historical Trend (2018-2023)             9.7.2.3    Forecast Trend (2024-2032)     9.8    Global Luxury Yachts Market by Region         9.8.1    Market Share             9.8.1.1    North America             9.8.1.2    Europe             9.8.1.3    Asia Pacific             9.8.1.4    Latin America             9.8.1.5    Middle East and Africa 10    Regional Analysis     10.1    North America         10.1.1    Historical Trend (2018-2023)         10.1.2    Forecast Trend (2024-2032)         10.1.3    Breakup by Country             10.1.3.1    United States of America              10.1.3.2    Canada     10.2    Europe         10.2.1    Historical Trend (2018-2023)         10.2.2    Forecast Trend (2024-2032)         10.2.3    Breakup by Country             10.2.3.1    United Kingdom             10.2.3.2    Germany             10.2.3.3    France             10.2.3.4    Italy             10.2.3.5    Spain             10.2.3.6    Russia             10.2.3.7    Others     10.3    Asia Pacific         10.3.1    Historical Trend (2018-2023)         10.3.2    Forecast Trend (2024-2032)         10.3.3    Breakup by Country             10.3.3.1    China             10.3.3.2    Japan             10.3.3.3    India             10.3.3.4    ASEAN             10.3.3.5    Australia             10.3.3.6    Others     10.4    Latin America         10.4.1    Historical Trend (2018-2023)         10.4.2    Forecast Trend (2024-2032)         10.4.3    Breakup by Country             10.4.3.1    Brazil             10.4.3.2    Argentina             10.4.3.3    Mexico             10.4.3.4    Others     10.5    Middle East and Africa         10.5.1    Historical Trend (2018-2023)         10.5.2    Forecast Trend (2024-2032)         10.5.3    Breakup by Country             10.5.3.1    Saudi Arabia             10.5.3.2    United Arab Emirates             10.5.3.3    Nigeria             10.5.3.4    South Africa             10.5.3.5    Others 11    Market Dynamics     11.1    SWOT Analysis         11.1.1    Strengths         11.1.2    Weaknesses         11.1.3    Opportunities         11.1.4    Threats     11.2    Porter’s Five Forces Analysis         11.2.1    Supplier’s Power         11.2.2    Buyer’s Power         11.2.3    Threat of New Entrants         11.2.4    Degree of Rivalry         11.2.5    Threat of Substitutes     11.3    Key Indicators for Demand     11.4    Key Indicators for Price 12    Value Chain Analysis 13    Competitive Landscape     13.1    Market Structure     13.2    Company Profiles         13.2.1    Azimut Benetti S.p.A             13.2.1.1    Company Overview             13.2.1.2    Product Portfolio             13.2.1.3    Demographic Reach and Achievements             13.2.1.4    Certifications         13.2.2    Ferretti SPA             13.2.2.1    Company Overview             13.2.2.2    Product Portfolio             13.2.2.3    Demographic Reach and Achievements             13.2.2.4    Certifications         13.2.3    Lürssen             13.2.3.1    Company Overview             13.2.3.2    Product Portfolio             13.2.3.3    Demographic Reach and Achievements             13.2.3.4    Certifications         13.2.4    Feadship             13.2.4.1    Company Overview             13.2.4.2    Product Portfolio             13.2.4.3    Demographic Reach and Achievements             13.2.4.4    Certifications         13.2.5    Fincantieri S.p.A.             13.2.5.1    Company Overview             13.2.5.2    Product Portfolio             13.2.5.3    Demographic Reach and Achievements             13.2.5.4    Certifications         13.2.6    Horizon Yacht USA             13.2.6.1    Company Overview             13.2.6.2    Product Portfolio             13.2.6.3    Demographic Reach and Achievements             13.2.6.4    Certifications         13.2.7    Heesen Yachts Sales B.V.             13.2.7.1    Company Overview             13.2.7.2    Product Portfolio             13.2.7.3    Demographic Reach and Achievements             13.2.7.4    Certifications         13.2.8    Others 14    Industry Events and Developments

List of Key Figures and Tables

1.    Global Luxury Yachts Market: Key Industry Highlights, 2018 and 2032 2.    Global Luxury Yachts Historical Market: Breakup by Size (USD Billion), 2018-2023 3.    Global Luxury Yachts Market Forecast: Breakup by Size (USD Billion), 2024-2032 4.    Global Luxury Yachts Historical Market: Breakup by Material (USD Billion), 2018-2023 5.    Global Luxury Yachts Market Forecast: Breakup by Material (USD Billion), 2024-2032 6.    Global Luxury Yachts Historical Market: Breakup by Type (USD Billion), 2018-2023 7.    Global Luxury Yachts Market Forecast: Breakup by Type (USD Billion), 2024-2032 8.    Global Luxury Yachts Historical Market: Breakup by End Use (USD Billion), 2018-2023 9.    Global Luxury Yachts Market Forecast: Breakup by End Use (USD Billion), 2024-2032 10.    Global Luxury Yachts Historical Market: Breakup by Region (USD Billion), 2018-2023 11.    Global Luxury Yachts Market Forecast: Breakup by Region (USD Billion), 2024-2032 12.    North America Luxury Yachts Historical Market: Breakup by Country (USD Billion), 2018-2023 13.    North America Luxury Yachts Market Forecast: Breakup by Country (USD Billion), 2024-2032 14.    Europe Luxury Yachts Historical Market: Breakup by Country (USD Billion), 2018-2023 15.    Europe Luxury Yachts Market Forecast: Breakup by Country (USD Billion), 2024-2032 16.    Asia Pacific Luxury Yachts Historical Market: Breakup by Country (USD Billion), 2018-2023 17.    Asia Pacific Luxury Yachts Market Forecast: Breakup by Country (USD Billion), 2024-2032 18.    Latin America Luxury Yachts Historical Market: Breakup by Country (USD Billion), 2018-2023 19.    Latin America Luxury Yachts Market Forecast: Breakup by Country (USD Billion), 2024-2032 20.    Middle East and Africa Luxury Yachts Historical Market: Breakup by Country (USD Billion), 2018-2023 21.    Middle East and Africa Luxury Yachts Market Forecast: Breakup by Country (USD Billion), 2024-2032 22.    Global Luxury Yachts Market Structure

What is the growth rate of the global luxury yachts market?

The global luxury yachts market is projected to grow at a CAGR of 8% between 2024 and 2032.

What are the major market drivers?

The major drivers of the market, such as the rising population of high net worth individuals, favourable government initiatives, growing maritime recreational tourism, improvements in design, and growing demand from the Asia Pacific, are expected to aid the market growth.

What are the key trends of the market?

The rising adoption of lighter hull materials like fibre-reinforced plastic (FRP) and rapid technological advancements are the key trends aiding the market growth.

What are the major regional markets of luxury yachts, according to the EMR report?

The major regions in the global luxury yachts market include the Asia Pacific, Europe, the Middle East and Africa, Latin America, and North America.

What are the leading sizes of luxury yachts in the market?

The leading sizes of luxury yachts in the market are 75-120 feet, 121-250 feet, and above 250 feet.

What are the major materials used in luxury yachts?

The major materials used in luxury yachts are FRP and composites and metal and alloys, among others.

What are the significant types of luxury yachts in the market?

The significant types of luxury yachts in the market are sailing and motorised, among others.

What are the various end uses of luxury yachts?

The various end uses of luxury yachts include commercial and private.

Who are the key market players, according to the report?

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

The global luxury yachts market is being driven by the rising demand from high net worth individuals. Aided by technological advancements, the market is expected to witness a healthy growth in the forecast period of 2024-2032, growing at a CAGR of 8%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By size, the market is divided into 75-120 feet, 121-250 feet, and above 250 feet. Based on material, the industry is segmented into FRP and composites and metal and alloys, among others. On the basis of type, the market is divided into sailing and motorised, among others. By end use, the industry is segmented into commercial and private. The major regional markets for luxury yachts are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Azimut Benetti S.p.A, Ferretti SPA, Lürssen, Feadship, Fincantieri S.p.A., Horizon Yacht USA, and Heesen Yachts Sales B.V., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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Luxury Yacht Market

Luxury yacht market by size (75-120 feet, 121-250 feet, and above 250 feet), by type (sailing luxury yacht, motorized luxury yacht, and others), by material (frp/composites, metal/alloys, and others) - global opportunity analysis and industry forecast, 2020 – 2030.

Industry:   Consumer Goods | Publish Date: Sep 2023 | No of Pages:   N/A | No. Tables:   N/A | No. Figures:   N/A

• Report Description
• Research Scope
• Key Companies

Market Definition

The Global Luxury Yacht Market size was valued at USD 6.58 billion in 2019 and is predicted to reach USD 14.58 billion by 2030, with a CAGR of 7.5% from 2020-2030.

Luxury yacht are sailing or motorized yachts with professionally crewed motor, available for charter as well as private purpose; designed to impart immense luxurious experience and high standard comfort to the consumers. These pleasure vehicles are loaded with luxurious amenities, lavish swimming pools, as well as a variety of gaming, dining, entertainment, and various leisure options.

The usage of composite materials in enhancing the interior aesthetics is gaining momentum in the luxury yacht market due to benefits offered such as low operational cost, enhanced strength to weight characteristics, corrosion resistibility, and higher durability. Moreover, autonomous fuel injection system escalates the efficiency of motor engine and allows engine to operate at variable velocities, reducing vibrations, noise, and emissions.

Market Dynamics and Trends

The global luxury yacht market is proliferating, with growing preferences for luxurious pleasure vehicles offering chartered as well as private services. Furthermore, the increasing trend of spending leisure time on explicit destinations, indulging in racing, cruising and other recreational activities, as well as attractive tourism packages offered by travelling agencies to sustain their market position, are the major factors driving the global luxury yacht market.

In addition to this, appealing interior aesthetics, exclusive services offered by professional crew, lavish accommodations, and enhanced maritime security are the factors anticipated to propel the growth of global luxury yacht market. However, high maintenance cost, dependency on climatic conditions, and stringent environmental regulations are expected to hamper the growth of luxury yacht market.

Moreover, higher standards of living with increasing per capita income, increasing inclination towards the use of composite materials in crafting the interiors rather than using traditional construction materials, advancements in yacht architectures, as well as enhanced tracking and navigation systems, are anticipated to create lucrative opportunities in the global luxury yacht market in coming future.

Market Segmentations and Scope of the Study :

The global luxury yacht market share has been analyzed based on size, type, material, and geography. Based on size, the market is segmented into 75-120 feet, 121-250 feet, and above 250 feet. Based on type, the market is fragmented into sailing luxury yacht, motorized luxury yacht, and others. Based on material, the market is divided into FRP/composites, metal/alloys, and others. Geographic breakdown and analysis of each of the previously mentioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

Europe has been dominating the global luxury yacht market in the recent past and is expected to maintain its dominance throughout the forecast period, owing to increased investments in costal as well as recreational activities, growing trend of water sports and fishing activities in this region. Moreover, well-established tourism industry, presence of attractive destinations, and increasing number of trade shows hosted by key manufacturers present in this region, are further expected to propel the growth of luxury yacht market.

Asia-Pacific region is expected to demonstrate a substantial growth in the global luxury yacht market throughout the forecast period, witnessing the highest CAGR values. This is due to favourable government policies promoting tourism, increasing standards of livings due to growing per capita incomes, and augmentation in marine recreational activities.

Competitive Landscape

The luxury yacht market, which is highly competitive, consists of various market players. Some of the major market players include Damen Shipyards Group, Alexander Marine Co Ltd, Azimut Benetti S.p.A., FERRETTI S.P.A., Feadship, Princess Yachts International plc, Horizon Yacht USA, Sunseeker International Limited, Viking Yacht Company and Sanlorenzo Spa among others. With the development and deployment of advanced products, and launch of new product technologies equipped with up-to-date features, market players are undergoing various business strategies to sustain their position in the global luxury yacht market.

For instance, Horizon Yacht USA, one of the leading companies in the luxury yacht market, launched its six new yachts at the Biennial Horizon Open House Event held in January 2020, at the company’s facilities in Kaohsiung, Taiwan. Horizon’s new FD75 & FD102 models made their international debuts at this remarkable showcase.

In February 2020, Sunseeker USA Sales Co. Inc., one of the key players in the luxury yacht market, introduced its sunseeker line-up, an exclusive range of luxury motor yachts for the Miami Yacht Show 2020. Along with the US debut of Manhattan 68, five more exquisite Sunseeker models glided their way into stealing the show.

In March 2020, DAMEN, the very well-known company in luxury yacht market, launched its 55-meter yacht support vessel named ‘Blue Ocean.’ This multipurpose yacht support vessel with 4-cabin layout is the first-ever yacht support built with a huge multipurpose main deck hangar, that is configured for a blend of adventure activities and superyacht support functions.

In May 2020, Ferretti Group, one of the key players in the luxury yacht market, announced a $15 million investment for purchasing a service shipyard in Fort Lauderdale, Florida, with an aim to consolidates its presence in the USA. The 4,000 square meters facility comprises of five docks and a combination of indoor and open-air spaces facilitating marine services and deliveries.

KEY BENEFITS

The luxury yacht market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.

The study comprises a deep dive analysis of the luxury yacht market trend including the current and future trends for depicting the prevalent investment pockets in the market.

The report provides detailed information related to key drivers, restraints and opportunities and their impact on the luxury yacht market.

The report incorporates competitive analysis of the market players along with their market share in the global luxury yacht market.

The SWOT analysis and Porters Five Forces model is elaborated in the study of the luxury yacht market.

Value chain analysis in the luxury yacht market study provides a clear picture of the stakeholders’ roles.

KEY MARKET SEGMENTS :

75-120 Feet

121-250 Feet

Above 250 Feet

Sailing Luxury Yacht

Motorized Luxury Yacht

By Material

FRP/Composites

Metal/Alloys

By Geography

North America

Netherlands

Rest of Europe

Asia-Pacific

South Korea

Rest of Asia Pacific

Latin America

Middle East 

REPORT SCOPE AND SEGMENTATION:

KEY PLAYERS:

• Damen Shipyards Group
• Alexander Marine Co Ltd
• Azimut Benetti S.p.A.
• FERRETTI S.P.A.
• Princess Yachts International plc
• Horizon Yacht USA
• Sunseeker International Limited
• Viking Yacht Company
• Sanlorenzo Spa

Frequently Asked Questions

According to the report published by Next Move Strategy Consulting, the luxury yacht market business is expected to hit at $14.58 billion (USD) by 2030.

Europe is expected to hold the highest market share in the global market. The region is expected to witness remarkable growth as it houses the major key players in the market.

Damen Shipyards Group, Alexander Marine Co Ltd, Azimut Benetti S.p.A., FERRETTI S.P.A., Feadship, Princess Yachts International plc, Horizon Yacht USA, Sunseeker International Limited, Viking Yacht Company and Sanlorenzo Spa.

The global luxury yacht market share has been analyzed based on size, type, material, and geography.

Currently (in 2019), the market value stands at USD 6.58 billion and it is anticipated to reach USD 14.58 billion by 2030.

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Luxury Yacht Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Sailing Luxury Yacht, Motorized Luxury Yacht, and Others), Material (FRP/Composites, Metal/Alloys, and Others), and Size (75–120 Feet, 121–250 Feet, and Above 250 Feet)

Publication Month : Feb 2023

• Report Code : TIPRE00004787
• Category : Automotive and Transportation
• Status : Published
• No. of Pages : 161
• Description
• Table of content
• Research Methodology
• Free Download Sample

The luxury yacht market size is expected to grow from US$ 6,076.59 million in 2022 to US$ 10,338.10 million by 2028; it is estimated to grow at a CAGR of 9.3% from 2022 to 2028.

Yachts of at least 75 feet or above are considered luxury yachts. Based on size, they are called mega yachts or superyachts. Based on mode of operation, luxury yachts are bifurcated into sailing and motorized. Increase in disposable income of individuals across both developed and developing countries and rise in leisure activities are fueling the demand for luxury yachts. Additionally, the growing demand for luxury tourism, along with exclusive travel plans and personalized service, from high-net-worth individuals, is further propelling the demand for luxury yachts.

The rise of luxury yacht rental service providers across the globe, owing to the demand for luxury tourism, is also boosting the demand for luxury yachts. Vendors offering luxury yachts on a rental basis include Fun2 Rent, Sailogy S.A., The Mooringsand Incrediblue Limited, and Boatbound Inc. Additionally, the rise in sports activities and the adoption of the same across coastal areas for attracting tourists are expected to increase the demand for luxury sport yachts, thereby contributing to the growth of the global luxury yacht market over the forecast period.

According to Lürssen in October 2022, a German shipyard, presents its iconic Lürssen superyachts CORAL OCEAN at Fort Lauderdale International Boat Show 2022 and inform the visitors about the innovation fuel cell technology used in the superyachts. Presenting the yachts and spreading information regarding fuel cell powered by hydrogen reformed by methanol will showcase the capabilities and advancements in the yachts, increasing its demand in the market. Additionally, in 2020, German superyacht builder, nobiskrug, launched first look of 62-meter-supperyacht project 794. It is a high volume superyacht. Thus, increased launches of superyacht and exhibiting luxury yachts in exhibitions is expected to positively impact the Germany luxury yacht market.

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Luxury Yacht Market: Strategic Insights

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Impact of COVID-19 Pandemic on North America Luxury Yacht Market Growth 

The US was the most affected country in North America due to the COVID-19 pandemic. In 2020, strict regulations were imposed by the US government, due to which many yacht manufacturers were either operating with a limited workforce or had to stop the production of yachts temporarily. This affected the supply chain and the import and export of yachts in the region. However, post-lockdown, in Q3 2020, there is significant increase in water tourism as peoples from the different region traveled to the sea borders to spend their leisure time at sea. Also, Azimut Benetti, an Italian yacht builder, announced that the order booking tripled to US$ 1.38 billion (EUR 1.2 billion) in August 2021 from August 2020, mostly from US clients. Thus, the growing demand for luxury yachts in the region will fuel the growth of the luxury yacht market during the forecast period.

Lucrative Regions for Luxury Yacht Market

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Market Insights – Luxury Yacht Market

Based on geography, the luxury yacht market size is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). Europe held the largest market share in 2021, followed by North America and Asia Pacific. Further, Asia Pacific is expected to register the highest CAGR in the market from 2022 to 2028.

Asia Pacific is segmented into China, Japan, India, South Korea, Australia, and the Rest of APAC. The region is inclined toward the adoption of improved living standards with increased disposable income. As APAC is engaged in superyacht production and yachting activities, the demand for luxury yachts is growing in the region. The rising disposable income is propelling the APAC luxury yacht market growth. For instance, according to Trading Economics, the disposable personal income in India was US$ 2,415,846 million in 2020 and increased to US$ 2,886,265 million in 2021. It is expected to reach US$ 2,987,285 in 2023 and US$ 3,221,733 in 2025. Moreover, according to a report by Superyacht Times B.V. in May 2022, there was a rise in demand for superyachts of lengths 15–45 meters in Hong Kong.

Material-Based Insights – Luxury Yacht Market Analysis

Based on material, the luxury yacht market is segmented into FRP/composites, metal/alloys, and others. Metals/alloys are highly adopted materials in the luxury yacht market. The metal/alloys segment is expected to grow at the highest CAGR owing to the increasing inclination toward composite materials. Metals such as steel, aluminum, titanium, and alloys are increasingly used for yacht building. Steel is used worldwide for building yachts as it is more durable than aluminum, thereby supporting the structure in hard water environment. Titanium is used widely in making yachts owing to its corrosion resistance. Titanium also imparts a luxurious look to the yacht. Moreover, it has a longer sea life. It can resist corrosion from water for over 40 years. Thus, these factors are contributing to the growth of the market for the metal/alloys segment.

Players operating in the luxury yacht market are mainly focused on the development of advanced and efficient systems.

• In January 2023, Alblasserdam Yachtbuilding BV launched 105-meter superyacht H, hull 1050H, which has been radically transformed during the rebuilding process. It features a modern exterior aesthetic, including a new superstructure and fresh interior from Reymond Langton Design. It is built considering the standards in terms of technology, safety, capability, and sustainability.
• In September 2022, Xventure, Heesen Yachts and Winch Design launched XV67. It is the build with latest version and technology done on Xventure, a 57-meter motor yacht..

Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

Type, Material, and Size

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

Metal/alloys segment is expected to hold a major market share of luxury yacht market in 2022.

The US is expected to hold a major market share of luxury yacht market in 2022.

Japan, South Korea, and UK are expected to register high growth rate during the forecast period.

Asia Pacific is expected to register highest CAGR in the luxury yacht market during the forecast period (2022-2028)

Azimut Benetti SpA, Fr. Lurssen Werft GmbH & Co KG, Damen Shipyards Group NV, Alblasserdam Yachtbuilding BV, and Fincantieri SpA are the key market players expected to hold a major market share of luxury yacht market in 2022

High Initial Cost and Carbon Footprint

1. Growing Yacht Tourism 2. Increasing Superyacht Demand

The estimated global market size for the luxury yacht market in 2022 is expected to be around US$ 6,076.59 million.

The global market size of luxury yacht market by 2028 will be around US$ 10,338.10 million

The luxury yacht market is expected to register an incremental growth value of US$ 1,706.03 million during the forecast period.

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The List of Companies - Luxury Yacht Market 

• Azimut Benetti S.p.A.
• Bavaria Yachtbau GmbH
• DELTA MARINE
• Brunswick Corporation
• Cheoy Lee Shipyards Limited
• Damen Group
• FINCANTIERI S.p.A.
• Heesen Yachts Sales B.V.
• Palumbo Superyachts Ancona s.r.l

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

• Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

• Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

• Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
• Validates and strengthens in-house secondary research findings
• Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

• Industry participants: VPs, business development managers, market intelligence managers and national sales managers
• Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

• Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

• 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

• 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

• 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

• 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

• Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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What's included in full report .

• Market Dynamics
• Competitive Analysis and Assessment
• Define Business Strategies
• Market Outlook and Trends
• Market Size and Share Analysis
• Growth Driving Factors
• Future Commercial Potential
• Identify Regional Growth Engines

• Automotive and Transport /
• Luxury Yacht

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
• Region: Global
• IMARC Group
• ID: 5936259
• Description

Table of Contents

Companies mentioned, methodology, related topics, related reports.

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Quick Summary:

In the echelons of luxury and sophistication, the global luxury yacht market stands as a testament to the pinnacle of human craftsmanship and exclusivity. At the heart of this market lies a growing cadre of discerning high-net-worth individuals, seeking not just mere possessions, but experiences that epitomize the zenith of personal indulgence and leisure. Your decision to engage with this market research report is the keystone to unlocking the potential within this dynamic arena. As the industry weathers the currents of change, propelled by technological innovation and shifts in affluent consumer behavior, our comprehensive analysis delves into the critical factors that are shaping the luxury yacht market's future. Expect to navigate through insights on emerging trends such as environmentally sustainable luxury yachts, the surge in bespoke designs, and the flourishing luxury yacht charter sector. This report positions itself as an indispensable strategic resource for senior executives aiming to sail ahead of the competition and anchor success within the lucrative waters of the luxury yacht industry.

Luxury Yacht Market Trends/Drivers

Implementation of stricter environmental regulations.

• Growing emphasis on experiential luxury

Expansion of marine tourism and the advent of luxury charter services

Luxury yacht industry segmentation:, breakup by type:.

• Sailing Luxury Yacht
• Motorized Luxury Yacht

Motorized luxury yacht represents the largest market segment

Breakup by size:.

• 75-120 Feet
• 121-250 Feet
• Above 250 Feet
• 75-120 feet accounts for the majority of the market share

Breakup by Material:

• FRP/ Composites
• Metal/ Alloys

FRP/Composites represents the largest market segment

Breakup by application:, commercial accounts for the majority of the market share, breakup by region:.

• North America
• United States
• Asia-Pacific
• South Korea
• United Kingdom
• Latin America
• Middle East and Africa

North America exhibits a clear dominance, accounting for the largest luxury yacht market share

Competitive landscape, competition analysis.

• 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

Recent Developments:

Key questions answered in this report, what is the estimated value of the global luxury yacht market, what is the growth rate of the global luxury yacht market, what is the forecasted size of the global luxury yacht market, who are the key companies in the global luxury yacht market.

• Heesen Yachts Sales B.V
• Fiber Reinforced Plastic
• Metal Alloy
• Metals And Minerals
• Sporting Goods And Equipment

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

•  Report

Luxury Yacht Global Market Opportunities and Strategies to 2032

• October 2023

Luxury Yacht Global Market Report 2024

• February 2024

Luxury Yacht Global Market Insights 2024, Analysis and Forecast to 2029, by Manufacturers, Regions, Technology, Product Type

Luxury mega-yacht Global Market Insights 2023, Analysis and Forecast to 2028, by Manufacturers, Regions, Technology, Application, Product Type

About the luxury yacht market.

The Luxury Yacht market is a subset of the Maritime industry, which encompasses the design, construction, and operation of vessels for recreational and commercial purposes. Luxury Yachts are typically large, expensive vessels that are used for leisure activities such as cruising, fishing, and entertaining. They are often equipped with amenities such as swimming pools, spas, and multiple decks. The Luxury Yacht market is highly competitive, with manufacturers offering a wide range of vessels to meet the needs of their customers. Many of these vessels are custom-built, with features such as advanced navigation systems, luxurious interiors, and state-of-the-art entertainment systems. The Luxury Yacht market is a growing sector of the Maritime industry, with many companies offering a variety of vessels to meet the needs of their customers. Some of the leading companies in the market include Azimut Yachts, Benetti, Ferretti Group, Feadship, Lürssen, Princess Yachts, Sanlorenzo, Sunseeker, and Westport. Show Less Read more

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• An Aspiring Race Car Driver Lists Her Peaceful Beverly Hills Retreat for $30 Million

Revamped over four years by Montalba Architects, the sleekly designed home in the Trousdale Estates neighborhood features an infinity-edge swimming pool, plus serene courtyards laced with bonsai and maple trees.

Wendy bowman, wendy bowman's most recent stories, a healthcare mogul is selling three oceanfront south florida properties for $76 million.

• A Popular YouTuber Is Listing His First SoCal House for $2.4 Million
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Tucked away on a gated parcel spanning over a half-acre, the sleek architectural structure is described in the listing as a “seamless fusion of Japanese-inspired design elements and contemporary luxury.” A set of pivoting double front doors open into the open-concept great room, which is highlighted by a sunken living area centered between a massive linear fireplace with a floating hearth and built-in shelving, plus a spacious dining room adjoining a space that’s big enough to accommodate a large piano for entertaining guests.

A bookshelf-lined family room connects to the gourmet kitchen, which is outfitted with an eat-in island, top-tier appliances, ample wine storage and an accompanying breakfast nook, and elsewhere is a private office, plus an inviting primary bedroom sporting another linear fireplace, a built-in desk, and showroom-style closet and dressing room, as well as a spa-like bath equipped with dual vanities, a teak-clad soaking tub and separate rainfall shower.

The listing is held by Ben Bacal of Revel Real Estate and Jade Mills of Coldwell Banker Realty.

Click here for more photos of Sayo Haraishi’s Beverly Hills house.

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The March 2024 Luxury Market Report

the Institute March 19, 2024 All , Become a Luxury Professional , Luxury Home Marketing Strategy , Luxury Trends , Research & Statistics 0 Comments

The Institute’s  Luxury Market Report  is your guide to an analysis on the trends and comparative data on the top-residential markets throughout Canada and the United States.

March’s report reviews the current statistics for the luxury market in North America month over month, as well as the 13-month trend.

This month, we delve into the underlying factors propelling demand and shaping the trajectory of the luxury real estate market over the past four months, as well as their enduring effects.

We scrutinize the surge in sales and the correlation between heightened inventory levels and the influx of new listings into the market.

Furthermore, we explore various catalysts bolstering demand, ranging from increasingly competitive mortgage rates to the emergence of a new demographic coined as “HENRYs” (High Earners, Not Yet Rich).

Uncover the reasons why, while the significance of ‘location’ as a primary decision-making factor remains steadfast, there’s an anticipated diversification in the markets favored by the affluent.

We delve into the rationale behind the heightened demand for distinct property types, spanning from branded residences to multi-generational homes, which are poised to dominate decision-making in 2024.

Acknowledging that this year will witness continued emphasis from the affluent on acquiring properties driven by amenities and experiential offerings.

Furthermore, we recognize that although lifestyle, exclusivity, and investment potential often steer demand in the luxury real estate sphere, it’s crucial to acknowledge the significant influence of regional preferences and market dynamics.

As always it is important to understand that the art of selling and buying should always include an analytical approach to truly appreciate the realities within your local market, as they may differ from the viewpoint at the national level.

Click here to see the Institute’s full report . 

For homeowners looking to sell or buy their luxury home in today’s market we recommend working with a realtor who can provide you with critical knowledge about your local market, maintain a high level of security and safety during the process and who knows how to leverage technology and strategies to provide maximum exposure and assistance. 

Get exclusive insights into the upper-tier real estate market at one of The Institute for Luxury Home Marketing’s live or online training sessions.  Enroll today!

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Electrostal History and Art Museum

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Moscow Sky Lights Up With Strange Glow After Explosion at Electrical Substation: Reports

N ew footage has emerged showing bright flashes lighting up the night sky in southern Moscow during the early morning hours of November 22.

Knewz.com has learned that there was an explosion at an electrical substation on the outskirts of Russia's capital city followed by an alleged power outage in "several" homes.

Video snippets, shared on Russian news channels like ASTRA , captured a series of flashes that caused the sky to change color. Smoke could also be seen rising from a building.

Corroborating the video, several Russian Telegram accounts reported an explosion near the south of Moscow and a subsequent fire at the Lyublino electrical substation, southeast of central Moscow, per Newsweek .

The local authorities from the area have since confirmed that an explosion occurred in the village of Molokovo, but they reassured the public that all vital facilities were operating as normal.

Russian outlet MSK1.ru reported the blaze at the substation and noted “several” power outages.

The town of Lytkarino, located to the southeast of Moscow, was one of the affected areas, as reported by the independent outlet, Meduza .

Additional power failures were reported in the southern Domodedovo section of the city. However, electricity was later restored to these areas.

One local resident speculated that a drone may have been responsible for the explosion, but additional sources are yet to support this theory.

Newsweek reported that messages on the ASTRA Telegram account run by independent Russian journalists showed residents near the substation panicking. One concerned Russian called it a "nightmare."

The incident follows an attack by Russia on a power station in southwestern Ukraine that left 2,000 people without electricity .

Knewz.com reported previously:

“ Russian forces launched a total of 38 Iranian-made Shahed-136/131 drones during the later hours of November 17 and 18.

The Ukrainian Air Force Command reported that 29 of these drones were shot down [...].

One civilian was injured as a result of the attack that targeted energy infrastructure in the southwestern Odesa Oblast.”

The assault came after repeated warnings by Ukraine’s President Volodymyr Zelensky that Russia would try to cripple its power grid as winter approaches.

Ukraine's leader warned that if Russia resorted to attacking its power utilities, it would respond in kind.

Ukraine has conducted numerous long-range aerial drone strikes on Moscow since May 2023.

Most recently on November 20, it was reported that one such incursion was intercepted close to the city, per Kyiv Post .

Moscow’s Mayor Sergei Sobyanin confirmed this and elaborated that the region's air defense systems intercepted the unmanned craft over the city of Elektrostal to the east of Moscow, as well as another over the Bogorodsky district, northeast of central Moscow.

The details of the recently surfaced video footage have yet to be independently verified.

For the first time Rosatom Fuel Division supplied fresh nuclear fuel to the world’s only floating nuclear cogeneration plant in the Arctic

The fuel was supplied to the northernmost town of Russia along the Northern Sea Route.

The first in the history of the power plant refueling, that is, the replacement of spent nuclear fuel with fresh one, is planned to begin before 2024. The manufacturer of nuclear fuel for all Russian nuclear icebreakers, as well as the Akademik Lomonosov FNPP, is Machinery Manufacturing Plant, Joint-Stock Company (MSZ JSC), a company of Rosatom Fuel Company TVEL that is based in Elektrostal, Moscow Region.

The FNPP includes two KLT-40S reactors of the icebreaking type. Unlike convenient ground-based large reactors (that require partial replacement of fuel rods once every 12-18 months), in the case of these reactors, the refueling takes place once every few years and includes unloading of the entire reactor core and loading of fresh fuel into the reactor.

The cores of KLT-40 reactors of the Akademik Lomonosov floating power unit have a number of advantages compared to the reference ones: a cassette core was used for the first time in the history of the unit, which made it possible to increase the fuel energy resource to 3-3.5 years between refuelings, and also reduce the fuel component of the electricity cost by one and a half times. The FNPP operating experience formed the basis for the designs of reactors for nuclear icebreakers of the newest series 22220. Three such icebreakers have been launched by now.

For the first time the power units of the Akademik Lomonosov floating nuclear power plant were connected to the grid in December 2019, and put into commercial operation in May 2020. The supply of nuclear fuel from Elektrostal to Pevek and its loading into the second reactor is planned for 2024. The total power of the Akademik Lomonosov FNPP, supplied to the coastal grid of Pevek without thermal energy consumption on shore, is about 76 MW, being about 44 MW in the maximum thermal power supply mode. The FNPP generated 194 million kWh according to the results of 2023. The population of Pevek is just a little more than 4 thousand, while the FNPP has a potential for supplying electricity to a city with a population of up to 100 thousand people. After the FNPP commissioning two goals were achieved. These include first of all the replacement of the retiring capacities of the Bilibino NPP, which has been operating since 1974, as well as the Chaunskaya TPP, which has already been operating for more than 70 years. Secondly, energy is supplied to the main mining companies in western Chukotka in the Chaun-Bilibino energy hub a large ore and metal cluster, including gold mining companies and projects related to the development of the Baimsk ore zone. In September 2023, a 110 kilovolt power transmission line with a length of 490 kilometers was put into operation, connecting the towns of Pevek and Bilibino. The line increased the reliability of energy supply from the FNPP to both Bilibino consumers and mining companies, the largest of which is the Baimsky GOK. The comprehensive development of the Russian Arctic is a national strategic priority. To increase the NSR traffic is of paramount importance for accomplishment of the tasks set in the field of cargo shipping. This logistics corridor is being developed due regular freight voyages, construction of new nuclear-powered icebreakers and modernization of the relevant infrastructure. Rosatom companies are actively involved in this work. Rosatom Fuel Company TVEL (Rosatom Fuel Division) includes companies fabricating nuclear fuel, converting and enriching uranium, manufacturing gas centrifuges, conducting researches and producing designs. As the only nuclear fuel supplier to Russian NPPs, TVEL supplies fuel for a total of 75 power reactors in 15 countries, for research reactors in nine countries, as well as for propulsion reactors of the Russian nuclear fleet. Every sixth power reactor in the world runs on TVEL fuel. Rosatom Fuel Division is the world’s largest producer of enriched uranium and the leader on the global stable isotope market. The Fuel Division is actively developing new businesses in chemistry, metallurgy, energy storage technologies, 3D printing, digital products, and decommissioning of nuclear facilities. TVEL also includes Rosatom integrators for additive technologies and electricity storage systems. Rosenergoatom, Joint-Stock Company is part of Rosatom Electric Power Division and one of the largest companies in the industry acting as an operator of nuclear power plants. It includes, as its branches, 11 operating NPPs, including the FNPP, the Scientific and Technical Center for Emergency Operations at NPPs, Design and Engineering as well as Technological companies. In total, 37 power units with a total installed capacity of over 29.5 GW are in operation at 11 nuclear power plants in Russia. Machinery Manufacturing Plant, Joint-Stock Company (MSZ JSC, Elektrostal) is one of the world’s largest manufacturers of fuel for nuclear power plants. The company produces fuel assemblies for VVER-440, VVER-1000, RBMK-1000, BN-600,800, VK-50, EGP-6; powders and fuel pellets intended for supply to foreign customers. It also produces nuclear fuel for research reactors. The plant belongs to the TVEL Fuel Company of Rosatom.

Rosatom obtained a license for the first land-based SMR in Russia

On April 21, Rosenergoatom obtained a license issued by Rostekhnadzor to construct the Yakutsk land-based SMR in the Ust-Yansky District of the Republic of Sakha (Yakutia).

ROSATOM and FEDC agree to cooperate in the construction of Russia's first onshore SNPP

ROSATOM and FEDC have signed a cooperation agreement to build Russia's first onshore SNPP in Yakutia.

Rosatom develops nuclear fuel for modernized floating power units

Rosatom has completed the development of nuclear fuel for the RITM-200S small modular reactor designed for the upgraded floating power units.