Luxury Yacht Market Share, Size, Growth, Opportunity and Forecast 2021-2026

Press Release:

Global Luxury Yacht Market to Grow at 9% During 2021-2026, Bolstered by the Expanding Recreational Tourism Sector

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Luxury Yacht Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global luxury yacht market exhibited moderate growth during 2015-2020. A luxury yacht is a crewed sailing vehicle that is primarily used for recreational activities and sports. It can be operated through wind sailing or by a propulsion system, such as an internal combustion engine (ICE) and gas turbine. Luxury yachts are commonly manufactured using various materials, such as steel, aluminum, fiberglass, wood, carbon fiber and treated wood with epoxy resins. They are usually charted or rented by private entities and accommodated with sophisticated, luxurious and personalized facilities, such as jacuzzi spa, gymnasium, sauna and sun pads. They are also equipped with modern design, style, comfort and technologically advanced components to enhance the overall performance of the yacht and user experiences.

Global Luxury Yacht Market Trends and Drivers:

Rapid urbanization, along with significant growth in the recreational tourism sector, is one of the key factors creating a positive outlook for the market. Furthermore, the emerging trend of remote explorations is also providing a boost to the market growth. There is an increasing preference for leisure, sports activities and luxurious experiences by individuals across the globe. Luxury yachts are provided on lease by yacht fleet operators for organizing business meetings, recreational activities and events.

Additionally, the utilization of advanced structural materials, such as fiberglass, and the development of customized solutions according to specific requirements and designs, are also contributing to the market growth. Other factors, including rising expenditure capacity of the consumers, along with the utilization of alternative fuels in the marine industry, are expected to drive the market further. Looking forward, IMARC Group expects the global luxury yacht market to grow at a CAGR of around 9% during the forecast period (2021-2026).

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global luxury yacht market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on type, size, material, application and region.

Breakup by Type:

Sailing Luxury Yacht
Motorized Luxury Yacht
Others

Breakup by Size:

75-120 Feet
121-250 Feet
Above 250 Feet

Breakup by Material:

FRP/ Composites
Metal/ Alloys
Others

Breakup by Application:

Commercial
Private

Breakup by Region:

North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being 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.

Key Questions Answered in This Report:

How has the global luxury yacht market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global luxury yacht market?
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 global luxury yacht market and who are the key players?
What is the degree of competition in the industry?