IMARC Group, a leading market research company, has recently released a report 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 2024-2032”. The study provides a detailed analysis of the industry, including the global automotive differential market share, trends, size, and industry growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global luxury yacht market size reached US$ 7.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.9 Billion by 2032, exhibiting a growth rate (CAGR) of 8.6% during 2024-2032.

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What is Luxury Yacht?

A luxury yacht is a high-end recreational boat designed for leisure and luxury purposes.  It features superior engineering and intricate designs tailored to offer an unrivaled maritime experience. They are also equipped with state-of-the-art amenities, such as plush cabins, high-end kitchens, and expansive decks, along with advanced navigation and safety systems. They often come with custom-designed interiors and are powered by cutting-edge technology, which may include renewable energy systems and advanced propulsion mechanisms. The primary function of most yachts is leisure, and it serves as a hallmark of affluence. They are typically utilized for private holidays, corporate events, and extravagant social gatherings.

Luxury Yacht Trends:

The increasing number of affluent individuals globally is driving the market growth. Furthermore, modern consumers, including younger generations, are showing a preference for luxury yachts because they offer a unique blend of comfort and adventure thus proliferating the market growth. In addition to this, innovation in marine technology, such as the development of more efficient propulsion systems and renewable energy options and features like advanced navigation systems and home automation is providing an impetus to the market growth. In line with this, the widespread utilization of sustainable, bio-based materials and energy-efficient designs owing to the growing environmentally conscious consumers is favoring the market growth.

Moreover, increasing customization and personalization within a yacht influences the elites thereby driving the growth of the yacht market.

Additionally, the increasing travel and leisure activities as an integral part of modern lifestyles, is propelling the demand for luxury yachts for unique and exclusive vacation experiences, which in turn is supporting the market growth.

Luxury Yacht Market Report Segmentation:

By Type:

·         Sailing Luxury Yacht

·         Motorized Luxury Yacht

·         Others

By Size:

·         75-120 Feet

·         121-250 Feet

·         Above 250 Feet

By Material:

·         FRP/ Composites

·         Metal/ Alloys

·         Others

By Application:

·         Commercial

·         Private

Regional Insights:

·         North America

·         Asia Pacific

·         Europe

·         Latin America

·         Middle East and Africa

Competitive Landscape with Key Players:

The competitive landscape of the luxury yacht market market size has been studied in the report with the detailed profiles of the key players operating in the market.

Some of These Key Players Include:

·         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.

Ask Analyst for Customized Report:

https://www.imarcgroup.com/request?type=report&id=2280&flag=C

Key Highlights of the Report:

·         Market Performance (2018-2023)

·         Market Outlook (2024-2032)

·         Market Trends

·         Market Drivers and Success Factors

·         Impact of COVID-19

·         Value Chain Analysis

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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