Luxury Yacht Market: Global Industry Outlook, Size (US$ 11.8 Billion), Share, Growth (CAGR of 10.9%), Top Companies Analysis, Report 2022-2027

According to IMARC Group's latest report, titled "Luxury Yacht Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global luxury yacht market size reached US$ 6.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.8 Billion by 2027, exhibiting a growth rate (CAGR) of 10.9% during 2022-2027.

Luxury Yacht Market Trends:

The increasing consumer expenditure power, improving living standards, and the rising trend of remote explorations are primarily providing an impetus to market growth. Rapid urbanization and the expanding tourism sector are acting as other major growth-inducing factors. Furthermore, the shifting consumer preference toward sports activities, leisure, and luxurious experiences has facilitated the demand for luxury yachts, which, in turn, is creating a positive outlook for the market. Moreover, the expanding number of high-net-worth individuals (HNWI) and the increasing coastal and marine tourism are boosting the market growth. Other factors, such as the rapid adoption of technologically advanced yachts, escalating demand for maritime recreational activities, and the development of yachts with customized solutions, are bolstering the market growth. 

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Year Considered to Estimate the Market Size:

• Base Year of the Analysis: 2021
• Historical Period: 2016-2021
• Forecast Period: 2022-2027

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

Industry Definition and Application:

A luxury yacht is a crewed sailing vessel equipped with high-end features and modern performance technology. It is operated using a propulsion system, such as a gas turbine and an internal combustion engine (ICE), or via wind sailing. The yacht is manufactured using several materials, including steel, fiberglass, aluminum, carbon fiber wood, and treated wood with epoxy resins. Moreover, they are rented or charted by private entities for recreational and sports activities as the yacht is accommodated with sophisticated and personalized facilities, such as a gymnasium, jacuzzi spa, sun pads, and sauna. 

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

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Note: We are updating our reports, if you want the report with the latest primary and secondary data (2023-2028) including industry trends, market size and competitive landscape, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• 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.

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This release was published on openPR.