Luxury Yacht Market Size, Growth, Industry Segmentation, Trends and Business Opportunities 2023-2028

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.

Year Considered to Estimate the Market Size:

• Base Year of the Analysis: 2022

• Historical Period: 2017-2022

• Forecast Period: 2023-2028

Luxury Yacht Market Trends:

The expanding coastal and marine tourism involving various leisure activities and sporting events and the escalating demand for personalized traveling experiences among high-net-worth individuals (HNWI) are primarily driving the luxury yacht market. Besides this, the rising investments in coastal infrastructure have bolstered the purchase of private boats and chartering of vessels for business meetings, investor presentations, and sales parties, which are further augmenting the market growth. Moreover, the integration of luxury yachts with electronically controlled fuel injection systems to enhance the efficiency of the propulsion system, achieve flexible engine operations at variable speeds, and reduce noise, vibration, and emissions is also catalyzing the global market. Apart from this, the development of luxurious, comfortable, and high-tech interiors by the original equipment manufacturers (OEM) is anticipated to propel the luxury yacht market over the forecasted period.

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Luxury Yacht Market 2023-2028 Competitive Analysis and Segmentation:

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

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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Industry Definition and Application:

Luxury yachts represent luxurious, professionally crewed floating or sailing boats mainly used for personal and professional purposes. These mega vehicles are mostly privately owned but can also be rented or chartered based on several requirements. Luxury yachts are operated through wind sailing or with the support of propulsion systems, including a gas turbine and an internal combustion engine (ICE). These boats comprise stylish cabins equipped with modern amenities, such as a spa and sauna, gymnasium, sun pads, jacuzzi, fishing pads, heating, ventilation, and air conditioning (HVAC), and entertainment systems to provide a seamless high standard and comfortable experience. These furnishings are designed explicitly from fiberglass, fiber-reinforced polymers, composites, aluminum, steel, wood, and epoxy resin materials. In addition, luxury yachts provide better security controls, ample space for luggage storage, attractive views of the sea, and optimal relaxation for individuals. As a result, these boats find widespread applications for recreational activities, including cruising, personal, business, and political gatherings.

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.

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