Global Luxury Yacht Market Forecast 2023-2032: Feadship, Azimut Benetti SPA, Ferretti SPA, Damen Shipyards Group

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Luxury Yacht Global Market Report 2023 identifies a surge in tourism and recreational activities is the major driver for the luxury yacht market's growth in the forecast period. Tourism refers to the act and process of spending time away from home in pursuit of recreation, relaxation, and pleasure while making use of the commercial provision of services. Luxury yacht helps in tourism and recreational activities by cruising, fishing, remote exploration, and practice of natural and other nautical. The luxury yacht provides well-equipped and advanced cabins, dining, and staterooms for tourism and recreational activities which increases the demand for a yacht among the tourist.

The global luxury yacht market size is expected to grow from $6.30 billion in 2022 to $6.88 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global luxury yacht market size is expected to grow to $9.61 billion in 2027 at a CAGR of 8.7%.

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Major competitors in the luxury yacht market are Feadship, Azimut Benetti SPA, Ferretti SPA, Damen Shipyards Group, Viking Yacht Company, Blohm+Voss, Hessen Yachts, Sunseeker, Alexander Marine Co. Ltd.

A key trend in the luxury yacht market includes product innovations. Major companies operating in the luxury yacht market are focused on developing new and innovative yachts to sustain their position in the market. For instance, in April 2022, Numarine Denizcilik, a Turkey-based builder of high-performance motor yachts launched a 22XP yacht, an innovative and entry-level boat in the XP Series to date. The new yacht boasts roomy social rooms, a huge flybridge, and enormous angular windows similar to those on the 26XP. The interior of the 22XP is one of the largest available for a 70-footer. The 22XP's floorplan features three or four roomy staterooms, including a master suite with a full beam.

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The Luxury Yacht market is segmented -

• By Type: Motor Yacht, Sailing Yacht, Other Types

• By Size: Less Than 50 Meters, 50-100 Meters, 100-150 Meters, More Than 150 Meters

• By Hull Material: Fiber Reinforced Polymers And Composites, Metals And Alloys, Other Hull Materials

• By Application: Commercial, Private

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the luxury yacht market share.

The Business Research Company's "Global Luxury Yacht Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Luxury Yacht Market Include:
1. Executive Summary
2. Luxury Yacht Market Characteristics
3. Luxury Yacht Market Trends And Strategies
4. Luxury Yacht Market - Macro Economic Scenario
5. Luxury Yacht Market Size And Growth
……………
27. Luxury Yacht Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Luxury Yacht Market
29. Luxury Yacht Market Future Outlook And Potential Analysis
30. Appendix

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