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The global luxury yacht market reached a value of US$ 6.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.8 Billion by 2027, exhibiting at a CAGR of 10.9% 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 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.
IMARC Group provides an analysis of the key trends in each sub-segment of the global luxury yacht market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, size, material and application.
Breakup by Type:
Breakup by Size:
Breakup by Material:
Breakup by Application:
Breakup by Region:
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.
|Base Year of the Analysis||2021|
|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 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) and Viking Yacht Company|
|Customization Scope||10% Free Customization|
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|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)|
Key Questions Answered in This Report:
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