Luxury Yacht Market Report, Global Size, Growth, Trends and Industry Statistics 2023-2028

According to IMARC Group’s latest report, titled “Luxury Yacht Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global luxury yacht market size reached US$ 7.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2028, exhibiting a growth rate (CAGR) of 9.8% during 2023-2028.

Industry Overview and Application:

A luxury yacht is a highly sophisticated and extravagant vessel designed for private leisure activities, cruising, or charter services. Unlike standard boats or yachts, luxury yachts offer a heightened level of comfort, performance, and amenities. Ranging in length from approximately 75 feet to more than 300 feet, these opulent watercrafts often come equipped with state-of-the-art navigation systems, powerful engines, and cutting-edge design features, enabling them to sail across oceans and explore remote destinations. The interior of a luxury yacht is where opulence truly shines. These vessels are often customized to meet the owner's specific preferences and can include amenities, such as master suites, multiple guest cabins, gourmet kitchens, and elegantly designed living spaces.

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Luxury Yacht Market Trends:

The rise in the number of high net worth individuals (HNWIs) represents one of the key factors driving the growth of the market across the globe. These individuals often seek unique leisure experiences, and owning or chartering a luxury yacht serves as a status symbol as well as a means of exclusive recreation. The growth in marine tourism and yacht chartering for vacations and events is creating new avenues for the market.

Exclusive experiences offered by luxury yachts are in high demand for occasions like corporate events, family gatherings, and special celebrations. Continuous advancements in marine technology, such as hybrid propulsion systems, advanced navigation aids, and smart automation systems, are making luxury yachts more appealing by enhancing performance, safety, and convenience. The ability to highly customize yachts according to individual preferences, right from interior décor to onboard amenities, is a significant attraction for potential buyers. Improved transport and communications infrastructure are making remote and exotic locations more accessible, which is increasing the appeal of yachting as a leisure activity. The increasing trend toward experiential consumption of material possessions among younger affluent consumers is fueling the growth of the market.


Key Market Segmentation:

The report has segmented the global luxury yacht market based on type, size, material, application and region.

Breakup by Type:

  • Sailing Luxury Yacht
  • Motorized Luxury Yacht
  • Others

Breakup by Size:

  • 75-120 Feet
  • 121-250 Feet
  • Above 250 Feet

Breakup by Material:

  • FRP/ Composites
  • Metal/ Alloys
  • Others

Breakup by Application:

  • Commercial
  • Private

Breakup by Region:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Competitive Landscape With Key Players:

The competitive landscape of the luxury yacht market 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

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2280&flag=C

Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

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.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States
Website: https://www.imarcgroup.com/

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