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 luxury yacht market share,  Trends, size, and industry trends 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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Global Luxury Yacht Market

A luxury yacht refers to a privately owned watercraft that is primarily designed for leisure and recreational activities. It is equipped with a wide range of amenities such as pools, hot tubs, cinemas, and gyms. Luxury yachts can be categorized into several types, including motor yachts, sailing yachts, expedition yachts, and classic yachts. They are comprised of several components, such as a hull, propulsion system, navigation equipment, and luxurious interior fittings. Luxury yachts are made from advanced materials like fiberglass, carbon fiber, and marine-grade steel. They are widely used for private vacations, corporate events, charter services, and oceanic expeditions.

In addition, luxury yachts are known for high levels of comfort, privacy, the ability to travel to remote destinations, and personalized experiences. Furthermore, they provide several advantages, such as durability, safety features, and the potential for customization.

Global Luxury Yacht Market Trends

The rising affluent populations across the globe, creating a strong consumer base for high-end leisure activities, is propelling the market growth.

Furthermore, recent technological advancements, such as the integration of automation, advanced navigation systems, and enhanced entertainment facilities to improve user convenience, are contributing to the market growth.

Additionally, the increasing interest in marine tourism is acting as another growth-inducing factor. Besides this, the introduction of niche markets, such as ‘explorer’ or ‘expedition’ yachts that are designed for more adventurous experiences, is positively impacting the market growth.

In addition, the incorporation of sustainable technologies like hybrid propulsion systems, which are contributing to eco-friendly yachting experiences, is catalyzing the market growth.

Moreover, the growing demand for larger yachts with more elaborate amenities among wealthy consumers is driving the market growth. Along with this, the introduction of rental and charter services for luxury yachts, allowing a broader range of people to experience the lavishness of yachting without owning a vessel, is accelerating the market growth. Apart from this, the imposition of supportive government initiatives to develop marinas and coastal tourism is stimulating 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 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

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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

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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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