USD 47.06 billion
Report ID: SQSG25P2002 | Region: Global | Published Date: November, 2022 | Pages: 157
Global Luxury Yacht Market was valued at USD 47.06 billion
in 2021 and it is expected to reach at USD 104.68 billion by 2028, at a CAGR of 12.10% over the forecast period (2022-2028).
The luxury yacht market is growing at a rapid pace, with new buyers looking to invest in a vessel that offers unparalleled luxury and convenience. Owners of luxury yachts can enjoy all the conveniences of home, including access to top-class chefs and crew, world-class amenities, and constant entertainment.
Some of the most popular luxury yacht brands in the market include Viking Yachts, Sunseeker International, and Costa Cruises. These companies have been able to capitalize on the growing demand for luxurious yachts by creating stunning vessels that are both technologically advanced and luxurious.
Global Market Size
USD 47.06 billion
Motorized Luxury Yacht
Motorized Luxury Yacht
To get more reports on the above market click here to Buy The Report
Global luxury yacht market is segmented by type, size, material and application. By type, the market is segmented into sailing luxury yacht, motorized luxury yacht, and others. By size, the market is classified into 75-120 feet, 121–250, and above 250 feet. By material, the market is segmented into FRP/ composites, metal/ alloys, and others. By application, luxury yacht market is segmented into commercial and private.
Analysis by Type
By type, the global luxury yacht market is dominated by sailing luxury yacht. sailing luxury yacht are in high demand than its counterparts for a number of reasons. The sailing luxury yacht market is booming and there is a high demand for these types of vessels. There are a number of reasons why this is the case, including the fact that they offer a unique and luxurious experience that cannot be found with other types of boats. In addition, sailing yachts are becoming increasingly popular as vacation homes due to their many benefits, such as the ability to explore different areas without having to worry about mooring or anchoring.
One of the biggest reasons for the high demand for sailing luxury yachts is that they offer an unparalleled level of luxury. These vessels come complete with all of the amenities and features that you would expect from a five-star hotel, including opulent staterooms, gourmet kitchens, and spacious decks. What’s more, many sailing yachts also have private pools, Jacuzzis, and even helipads – meaning that buyers can truly enjoy the high life onboard.
Another reason for the growing popularity of sailing yachts is that they offer owners the chance to explore new horizons. Unlike motorized vessels which need to stay close to shore in order to refuel or recharge batteries, sailships can travel vast distances without stopping.
Analysis by Application
The private luxury yacht market has seen unprecedented growth in recent years, with a corresponding increase in demand for high-end vessels. This surge in popularity is largely due to the fact that yachting offers a unique and luxurious lifestyle that is unrivaled by any other leisure activity.
There are a number of reasons why people are attracted to the private yacht lifestyle. Firstly, owning a yacht allows them to enjoy the freedom and flexibility that comes with being their own boss. They have freedom to choose when and where to go, without having to answer to anyone else. Secondly, yachting provides an exclusive and intimate experience that is not possible with any other type of vacation. When they charter a yacht, people have the entire vessel and crew at their disposal – meaning that end-user can tailor their trip exactly as per needs and preferences.
Finally, private yachts offer unparalleled levels of luxury and comfort. From five-star cuisine and world-class wines served by professional staff, to sumptuous staterooms with en-suite bathrooms and plasma TVs – everything on board a luxury yacht is designed to provide the ultimate in style and sophistication. As a result, the global luxury yacht market witnessing a high growth.
To get detailed analysis on other segments, Request For Sample Report
According to recent report published by World Bank, Italy, the UK, and the Netherlands are the major producers of luxury yachts in Europe luxury yacht market. In terms of value, Italy leads the way with around €2 billion worth of production, followed by the UK at €1.6 billion and the Netherlands at 1.4 billion. The majority of yacht builders in these countries are concentrated in well-established maritime regions such as Tuscany, Sardinia and Puglia in Italy; Southampton and Plymouth in the UK; and Amsterdam and Zaandam in the Netherlands.
These companies in the global luxury yacht market have benefited from a strong order book in recent years, with demand for luxury yachts remaining robust despite challenging economic conditions globally. A number of factors have contributed to this demand, including an increase in wealth among high-net-worth individuals, continued growth in the charter market and a rise in interest from emerging markets such as China and Russia.
Looking ahead, SkyQuest expects that Brexit will create some uncertainties for luxury yacht builders based in the UK but believes that overall demand for these vessels will remain strong. Indeed, many wealthy individuals are likely to continue to see yacht ownership as a status symbol and an efficient way to enjoy time on the water.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Even in the face of a global pandemic, the luxury yacht market has remained strong. Here are some of the ways that companies are sustaining in this market to stay competitive:
Top Player's Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
Luxury yacht market is booming. In the past decade, the industry has seen a surge in popularity and investment. According to SkyQuest Technology, this is likely due to a number of factors, including increased interest in luxury travel and leisure activities, as well as an overall increase in the global wealth pool.
One of the key drivers of the luxury yacht market is demand from wealthy individuals and businesses. These individuals and businesses typically seek out unique experiences and opportunities that are not available through other forms of travel. As a result, luxury yacht charters are becoming increasingly popular for weddings, corporate events, and other occasions.
|Market size value in||USD 47.06 billion|
|Market size value in 2028||USD 104.68 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Luxury Yacht Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Luxury Yacht Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Luxury Yacht Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Luxury Yacht Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.