Yacht Market

Yacht Market was valued at USD 9,407 million in 2022 and is anticipated to touch USD 14,111 Million in 2030 and is expected to register a CAGR of 5.2% during the forecast period.

Yacht Market Overview

Yacht refers to a large and fast sailing or power-driven vessel used for pleasure cruising, racing, water sports, fishing, and for recreational activities. There are various types of yachts that includes super yacht, flybridge yacht, sport yacht, long range yacht, gullet yacht, luxury yacht, and others.

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Major Yacht Market Drivers

Increasing inclination of travellers towards customized and exclusive tourism services is one of the major factors fueling the global yacht market growth. In addition, the rising disposable income, rapid urbanization, and expansion of recreational tourism sector are forecast to augment the market growth over the upcoming years. As per the yacht market analysis, the increasing demand for yacht charters aided by the increase in marine tourism will influence the market revenue. As per the World Travel and Tourism Council (WTTC) report, the travel & tourism sector witnessed a 3.5% growth in 2019, which is 10.3% of the global GDP and provided approximately 330 million jobs globally, this is expected to drive the demand for yachts in the coming years. Manufacturers are focusing on incorporating luxurious features to improve the performance and offer a seamless travel experience with high standards & comfort. For instance, in 2021, Ritz Carlton introduced itineraries to assist guests to stay aboard for more than one voyage. The easy booking option on a weekly or monthly basis will create market growth opportunities. The use of alternative fuel in the marine industry and increasing expenditure by consumers will augment the market share. On the other hand, the operational and maintenance cost of yachts is very high, which might impede the yacht market size.

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Type – Segment Analysis

Based on the type, the sport yacht is expected to grow significantly over the forecast period. This can be attributed to the high demand for sports yachts in recreational activities and water sporting events and increasing active participation of adults in sport tournaments and outdoor activities.

Length – Segment Analysis

Based on the length, the upto 20 meter segment is projected to account for a notable share in the market owing to its several advantages including low maintenance costs, efficient travelling, and light wind sailing capabilities, among others. Additionally, rising adoption of utilizing renewable energy including solar energy and wind energy in sea vessels is further supporting the market growth.

Propulsion – Segment Analysis

Based on the propulsion, the motor yacht segment is anticipated to grow at a high CAGR during the forecast period primarily due to its various advantageous features that includes larger size and more comfortable for living and have more amenities including stand up galleys and bathrooms; easier to operate than sailboats; more power production, and capability of running much longer distances.

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Regional – Segment Analysis:

Based on region, Asia-Pacific is anticipated to grow at high CAGR during the forecast period. This can be attributed to surge in the population and the increase in disposable income of individuals and their inclination toward leisure activities and tourism. Moreover, according to the World Travel & Tourism Council (WTTC), Asia-Pacific is the fastest growing region during 2019 in the travel & tourism sector growing by 5.5% from the previous year. This is expected to contribute to the growth of the yacht market in the region over the forecast period.

Top Market Players

Several leading Yacht companies operating in the market, include, Damen Shipyards Group, Heesen Yachts Sales B.V., Sanlorenzo S.p.A., WANDA Group, Ferretti S.p.A., Alexander Marine International Co., Ltd., Princess Yachts Limited, Viking Yacht Company, Feadship, and Azimut Benetti Group among others. 

Key Developments: 

• • In 2020, Azimut Benetti Group launched a new yacht model under the Magellano collection, Magellano 30 METRI, designed by Ken Freivokh.
  • In 2022, Damen Yachting introduced its 74m Amels 242-07 yacht, the seventh yacht to be launched from the company’s Limited Editions design from the drydock in the Netherlands.
  • In 2020, Azimut Benetti Group announced the launch of a new yacht model under the Magellano collection including Magellano 30 Meter yacht as well as an upcoming Magellano 66 for 2021.

Segments covered in the Report:

The global Yacht market has been segmented on the basis of type, length, propulsion, and key regions. Based on type, the market is segmented into super yacht, flybridge yacht, sport yacht, long range yacht, and others. Based on length, the market is segmented into up to 20 m, 20 to 50 m, and above 50 m. Based on the propulsion, the market is segmented into motor yacht and sailing yacht. 

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Market Segmentation

Global Yacht Market by Type

• • Super Yacht
  • Flybridge Yacht
  • Sport Yacht
  • Long Range Yacht
  • Others

Global Yacht Market by Length

• • Up to 20 m
  • 20 to 50 m
  • Above 50 m

Global Yacht Market by Propulsion

• • Motor Yacht
  • Sailing Yacht

Global Yacht Market by Region

• • North America Yacht Market (Option 1: As a part of the free 25% customization)

    • By Type
    • By Length
    • By Propulsion
    • US Market All-Up
    • Canada Market All-Up

  • Europe Yacht Market (Option 2: As a part of the free 25% customization)

    • By Type
    • By Length
    • By Propulsion
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Yacht Market (Option 3: As a part of the free 25% customization)

    • By Type
    • By Length
    • By Propulsion
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Yacht Market (Option 4: As a part of the free 25% customization)

    • By Type
    • By Length
    • By Propulsion
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Yacht Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Damen Shipyards Group
  • Heesen Yachts Sales B.V.
  • Sanlorenzo S.p.A.
  • WANDA Group
  • Ferretti S.p.A.
  • Alexander Marine International Co., Ltd.
  • Princess Yachts Limited
  • Viking Yacht Company
  • Feadship
  • Azimut Benetti Group