The Asia Pacific luxury yacht market size reached US$ 1,371 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 2,422 Million by 2027, exhibiting a growth rate (CAGR) of 10.25% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
A luxury yacht is a crewed sailing vehicle used for recreational activities and sports. It is made with a wide range of materials, including steel, aluminum, fiberglass, wood treated with epoxy resin and carbon fiber. It is generally chartered or rented by private entities seeking luxury, comfort and sophistication. A luxury yacht is operated through wind sailing or by propulsion systems like internal combustion engines (ICE) and gas turbines. In the Asia Pacific region, the demand for luxury yachts has escalated over the years. These state-of-the-art yachts meet specific criteria and offer spacious cabins, well-equipped galleys, dining rooms and staterooms, which are usually equipped with sound and media systems.
The Asia Pacific luxury yacht market is primarily driven by the rising disposable incomes and improving living standards of individuals. The growing demand for marine recreational activities in various countries like Singapore, Thailand, China, and Australia, is creating a significant impact on the market. Moreover, the availability of improved maritime security systems, connectivity, and tracking and rising internet penetration is further escalating the demand for luxury yachts.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific luxury yacht market report, along with forecasts at the regional and country level from 2022-2027. Our report has categorized the market based on type, size, material and application.
Breakup by Type:
- Sailing Luxury Yacht
- Motorized Luxury Yacht
Breakup by Size:
- 75-120 Feet
- 121-250 Feet
- Above 250 Feet
Breakup by Material:
- FRP/ Composites
- Metal/ Alloys
Breakup by Application:
Breakup by Country:
- South Korea
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
||Type, Size, Material, Application, Country
||China, Japan, India, South Korea, Australia, Indonesia, Others
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Key Questions Answered in This Report:
- How has the Asia Pacific luxury yacht market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Asia Pacific luxury yacht market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the size?
- What is the breakup of the market based on the material?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the Asia Pacific luxury yacht market and who are the key players?
- What is the degree of competition in the industry?