The Europe luxury yacht market size reached US$ 2.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.7 Billion by 2028, exhibiting a growth rate (CAGR) of 9.1% during 2023-2028.
A luxury yacht is a crewed sailing vehicle manufactured using various materials like carbon fiber, wood treated with epoxy resin, fiberglass, steel, and aluminum. It is operated through wind sailing and propulsion systems, such as internal combustion engines (ICE) and gas turbines. A luxury yacht is equipped with luxurious facilities, such as a jacuzzi spa, gymnasium, sauna, and sun pads. It also includes modern convenience features such as air conditioners (ACs), televisions, navigation aids, radars, echo-sounding systems, autopilot facility, and power generating systems.
The Europe luxury yacht market is primarily driven by the growing number of High-Net-Worth Individuals (HNWI) and the rising adoption of technologically advanced yachts. The increasing number of trade shows hosted by manufacturers and recreational boating events has further increased the demand for luxury yachts. Besides this, with the growing preference for coastal and marine tourism, there has been a rise in investments in luxury yachts. Furthermore, the European original equipment manufacturers (OEMs) are introducing luxury yachts with high-tech interiors and amenities, which, in turn, is providing a positive impact on the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe luxury yacht market report, along with forecasts at the regional and country level from 2023-2028. 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:
Above 250 Feet
Breakup by Material:
Breakup by Application:
Breakup by Country:
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
Germany, France, United Kingdom, Italy, Spain, Others
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Key Questions Answered in This Report
The Europe luxury yacht market was valued at US$ 2.2 Billion in 2022.
We expect the Europe luxury yacht market to exhibit a CAGR of 9.1% during 2023-2028.
The rising popularity of coastal and marine tourism, along with the increasing demand for luxury yachts that are widely available on lease by fleet operators to organize business meetings 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 European nations, resulting in the temporary halt in numerous recreational activities, thereby negatively impacting the Europe market for luxury yacht.
Based on the type, the Europe luxury yacht market has been divided into sailing luxury yacht, motorized luxury yacht, and others, where motorized luxury yacht currently holds the majority of the total market share.
Based on the size, the Europe luxury yacht market can be segmented into 75-120 feet, 121-250 feet, and above 250 feet. Currently, 75-120 feet exhibits a clear dominance in the market.
Based on the material, the Europe luxury yacht market has been categorized into FRP/ composites, metal/ alloys, and others. Among these, FRP/ composites currently account for the largest market share.
Based on the application, the Europe luxury yacht market can be bifurcated into commercial and private. Currently, commercial exhibits a clear dominance in the market.
On a regional level, the market has been classified into Germany, France, United Kingdom, Italy, Spain, and others, where Italy currently dominates the Europe luxury yacht market.
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