PRESS RELEASE
Published September 6, 2023
The latest report published by IMARC Group, titled “Luxury Yacht Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
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. A Luxury Yacht is a high-end, privately-owned watercraft designed for luxury and leisure purposes. It typically offers lavish amenities, spacious interiors, and state-of-the-art technology. Characteristics include top-notch craftsmanship, opulent interiors, and professional crew services. Features encompass multiple decks, swimming pools, gourmet kitchens, and extravagant entertainment areas, providing an exclusive and indulgent experience.
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Luxury Yacht Market Trends:
The luxury yacht market is currently witnessing several drivers that are fueling its growth and popularity among affluent buyers worldwide. One of the key market drivers is the increasing demand for exclusive and personalized leisure experiences. Wealthy individuals and families seek unique and luxurious getaways, and luxury yachts offer the perfect platform to indulge in opulence and privacy while exploring the world’s most stunning destinations. Another prominent market driver is the rise in disposable income among high-net-worth individuals. As the global economy continues to prosper, more people are amassing substantial wealth, leading to an expanding market for luxury goods and experiences, including luxury yachts.
The continuous growth in personal wealth is supporting the demand for high-end yachts as a symbol of status and luxury lifestyle. Furthermore, advancements in yacht design and technology are playing a crucial role in driving the luxury yacht market. Shipbuilders and yacht designers are continually pushing the boundaries of innovation, offering cutting-edge features and amenities that cater to the evolving preferences of affluent customers. From sophisticated entertainment systems to eco-friendly propulsion methods, these modern yachts boast state-of-the-art capabilities that entice discerning buyers.
The market is also being driven by the emergence of new destinations and marinas. As luxury yachting becomes a popular trend among the wealthy elite, there is a growing demand for unique and less-explored destinations. The yacht industry is responding by identifying and developing new marinas and cruising spots that offer exclusive experiences and breathtaking landscapes, attracting luxury yacht owners and charter clients.
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:
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.
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