Global Luxury Yacht Market to Reach USD 17.4 Billion by 2033, Propelled by Growth in Nautical Tourism and Marine Recreational Activities

December 10, 2024 | Automotive Industry

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According to the latest report by IMARC Group, titled "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 2025-2033," the global luxury yacht market size reached USD 8.6 Billion in 2024. Luxury yachts are luxurious, professionally crewed sailing or floating boats that are predominantly used for various personal and professional purposes. These mega vehicles are mostly privately owned but can also be chartered or rented based on multiple requirements. They are operated through wind sailing or with the support of propulsion systems, including an internal combustion engine (ICE) and gas turbine. Luxury yachts comprise stylish cabins and are equipped with modern amenities, including a jacuzzi, spa and sauna, gymnasium, sun pads, fishing pads, heating, ventilation, and air conditioning (HVAC), and entertainment systems to provide a seamless high standard and comfortable experience. These furnishings are mainly designed from aluminum, fiberglass, fiber-reinforced polymers, composites, steel, wood, and epoxy resin materials. Apart from this, luxury yachts provide attractive views of the sea, better security controls, ample space for luggage storage, and optimal relaxation for individuals. As a result, luxury yachts are extensively used for recreational activities, such as cruising and personal, business, or political gatherings. Currently, they are mainly available in varying sizes, models, and engine types.

Global Luxury Yacht Market Trends:

Growing coastal and marine tourism involving various leisure activities and sporting events and the rising demand for personalized traveling experiences amongst high-net-worth individuals (HNWI) are primarily driving the market growth. In line with this, the enforcement of favorable policies by various governments promoting yachting tourism and increasing participation in marine recreational activities are acting as other growth-inducing factors. Moreover, rising investments in coastal infrastructure have encouraged the purchase of private boats and chartering of yachts for business meetings, investor presentations, and sales parties, which, in turn, is favoring the market growth. Additionally, the significant integration of the vehicle with electronically controlled fuel injection systems to achieve flexible engine operations at variable speeds, enhance the efficiency of the propulsion system, and reduce noise, vibration, and emissions are impelling the market growth. Similarly, recent investments by original equipment manufacturers (OEM) to design luxurious, comfortable, and high-tech interiors are influencing the market growth. Furthermore, ongoing improvements in maritime security systems, connectivity, tracking, and telematics solutions and the unification of the internet of things (IoT) applications are propelling the market growth. Besides this, inflating disposable incomes and expanding trends of luxury tourism with personalized services are creating a positive outlook for the market. Looking forward, the market value is projected to reach USD 17.4 Billion by 2033, expanding at a CAGR of 8.2% during 2025-2033.

Market Summary:

On the basis of the type, the market is segregated into sailing, motorized luxury yachts, and other luxury yachts.
Based on the size, the market is categorized into 75-120, 121-250, and above 250 feet.
On the basis of the material, the market has been divided into FRP/ composites, metal/ alloys, and others.
Based on the application, the market has been bifurcated into commercial and private.
On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being Alexander Marine USA, Azimut Yachts, Damen Yachting, Feadship, Ferretti S.p.A., Fincantieri S.p.A., Horizon Yacht USA, Kingship Marine Limited, Lurssen, Palumbo Superyachts s.r.l., Princess Yachts Limited, Viking Yacht Company, etc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Type, Size, Material, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Alexander Marine USA, Azimut Yachts, Damen Yachting, Feadship, Ferretti S.p.A., Fincantieri S.p.A., Horizon Yacht USA, Kingship Marine Limited, Lurssen, Palumbo Superyachts s.r.l., Princess Yachts Limited, Viking Yacht Company, etc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Luxury Yacht Market to Reach USD 17.4 Billion by 2033, Propelled by Growth in Nautical Tourism and Marine Recreational Activities

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