Luxury Yacht Market by Type (Motor Luxury Yachts, Sailing Luxury Yachts) by Distribution Channel (Private Use, Commercial Use, Special Use, Others): Global Industry Size, Share, Statistics and Forecast 2015 - 2027

Luxury Yacht Market Analysis 

Luxury yachts are large and lavish, with professional crews, state of the art technology, comfortable rooms, and high-quality food. The yacht experience is a status symbol for the world's most elite classes and provides comfort and high standards. The yacht market is set to grow in the following years because of improved designs, style, comfort, livability, and innovations in technology and performance.

Luxury Yacht Market

The luxury yacht market is segmented by type of yacht and by region. When it comes to yachts, there is type, length, and propulsion to consider. The yacht types include the superyacht, sports yacht, flybridge yacht, and many others. By size, yachts can be divided into three categories: between 75-120 feet, 121-250 feet, and above 250 feet. The demand for 121-250 feet size yachts is expected to rise the most and dominate the market.

Amid negative economic condition on the account of COVID 19, Luxury Yacht market has performed well around the world with decline of just over 10% in its revenue in the year 2020. However, coping up with the economic situation at a rapid pace, the demand for Luxury Yacht is expected to generate revenue of over USD 11.90 billion by the end of 2027, growing at an attractive CAGR of over 8.28%.   

Interesting Facts about Luxury Yacht Industry

  • World has more than 2,750+ billionaires as of now
  • Number of operational yachts totalled around 9,895 as of today
  • The worlds longest yacht measured over 180 meters in length
  • U.S. has highest number of yachts followed by France, Italy, Spain and Greece
  • More than 750 superyachts are under construction at any given point of time       

Motorized Yacht Segment

In propulsion, there are two options, the sailing yacht and the motorized yacht. The motorized yacht segment is expected to have the highest growth rate in the period between 2021 and 2027.   

Europe to Head Yachts Market

By region, the luxury yacht market is expected to grow the most in Europe. Europe is projected to be the fasted growing region for the market due to higher disposable incomes and a rise in living standards. Coastal leisure activities in the region such as snorkelling, kayaking and scuba diving have also increased, which can be linked to the increased demand for yachts. Large number of high wealth population and growing tourism industry, the demand for yachts is growing in Mediterranean region i.e., Italy, Spain, and Greece. There is also expected growth in the markets in France. Italy is the leading producer of yachts, followed by the U.K. and the Netherlands. Taiwan is emerging as a prominent producer of yachts in the Asia Pacific region.

Slowdown in Demand from Turkey and China  

One of the major concerns for the manufacturers include slowing down demand from Turkey and China which are some of the leading countries for yachts. During 2019 and 2020, Turkey and China have reported less orders than deliveries made in the same year. However, this is expected to be countered by growing demand from countries like Netherland.  

Yacht Tourism to Boost the Demand

Having a CAGR greater than 8% means that the market is growing at a reasonably high rate. Several factors are driving the luxury yacht market that can be taken into consideration. The first of these is the increase in global disposable incomes and more and more high net-worth individuals emerging. As a result of higher incomes, more people are investing in luxury goods like yachts in search of more luxurious lifestyles.

Yacht tourism is the second most important driving factor in the market. Yachts are easier to charter and rent, which has led to an increase in demand, especially amongst younger consumers. Yacht tourism has also gone up due to the increase in sea and water-related leisure activities. Many more private islands have also become accessible and have been added to cruise ship itineraries.   

Some key market players are Alexander Marine International, Azimut Benetti S.P.A., Brunswick Corporation, Damen Shipyards Group N.V., Feadship Holland B.V., Horizon Yacht USA, Sanlorenzo S.p.A., Sunseeker International (Wanda Group), and Viking Yacht Company. Going by the trend, yachts manufacturers are mainly focusing on motorized yachts as sailing yachts are struggling find buyers.

Frequently asked questions about global Luxury Yacht industry

Luxury Yacht industry has faced a set back by decline in demand by over 10% during COVID 19 pandemic time.

Europe is the largest regional market with highest share in the total volume of Luxury Yacht sold in 2020

Ever rising number of billionaires around the world and growing yacht tourism

Motorized Luxury Yacht segment dominated the Luxury Yacht market in 2020

Private Yacht was the largest application segment of Luxury Yacht in 2020

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Published Date:  Nov 2021
Category:  Consumer Goods
Report ID:   60448
Report Format:   PDF
Pages:   120
Rating:    4.5 (18)
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