The United States luxury yacht market size reached US$ 2.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.3 Billion by 2027, exhibiting a growth rate (CAGR) of 10.03% 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.
Luxury yachts are sailing vehicles that are used for recreational and sports activities. They are generally operated with wind sailing or a propulsion system like an internal combustion engine (ICE) and gas turbine. Luxury yachts are charted or rented by private entities and are accommodated with sophisticated, luxurious, and personalized facilities like a jacuzzi, spa, gymnasium, sauna and sun pads. In the United States, luxury yachts are provided on lease by yacht fleet operators for organizing business meetings, recreational activities and events.
The United States luxury yacht market is primarily driven by the increasing investments in yachts due to the changing lifestyle and growing involvement of people in marine recreational activities. Market players are also equipping luxury yachts with modern designs and technologically advanced components to improve the safety and durability of the boat and enhance the overall performance and user experience. Besides this, high income levels and spending capacities of consumers have escalated the demand for luxury yachts. Furthermore, the utilization of advanced structural materials, such as fiberglass, and the development of customized solutions according to specific requirements of consumers are also contributing to the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the United States luxury yacht market report, along with forecasts at the country and regional 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 Region:
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, Region
|| Northeast, Midwest, South, West
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Key Questions Answered in This Report:
- How has the United States 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 United States 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 United States luxury yacht market and who are the key players?
- What is the degree of competition in the industry?