openPR Logo
Press release

Luxury Yacht Market Analysis, Industry Size, Share, Growth and Competitive Landscape 2024-2032

02-07-2024 10:22 AM CET | Tourism, Cars, Traffic

Press release from: IMARC Group

Luxury Yacht Market Analysis, Industry Size, Share, Growth

According to IMARC Group, the global luxury yacht market size reached US$ 7.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.9 Billion by 2032, exhibiting a growth rate (CAGR) of 8.6% during 2024-2032.

Global Luxury Yacht Market Trends:

The growing inclination towards eco-friendly and sustainable yachts represents one of the key factors influencing the growth of the luxury yacht market across the globe. This is driven by increasing environmental awareness and stricter maritime regulations, leading to a rise in demand for yachts with green technologies, such as hybrid propulsion systems and eco-friendly materials.

The integration of advanced technology and automation in yacht design and functionality is boosting the market growth. Luxury yachts are being equipped with state-of-the-art navigation systems, IoT-enabled devices for better connectivity, and automation for enhanced safety and comfort. The market is also driven by customization and personalization. High-net-worth individuals are seeking unique, tailor-made yachts that reflect their style and requirements, driving yacht manufacturers to offer bespoke design options.

Get Sample Copy of Report at -https://www.imarcgroup.com/luxury-yacht-market/requestsample

Factors Affecting the Growth of the Luxury Yacht Industry:

Increasing High Net-Worth Individuals (HNWIs) Population:

The expanding population of high net-worth individuals globally is a primary driver of the luxury yacht market. As wealth accumulation rises, particularly in regions like North America, Europe, and parts of Asia, there is a corresponding increase in luxury spending, including yachts. These individuals often view luxury yachts as a symbol of status and a means of enjoying exclusive, high-end experiences. The growing number of billionaires and millionaires, especially those in emerging economies, is expanding the customer base for luxury yachts. They not only invest in purchasing but also in customizing yachts to their preference, which further fuels the market growth.

Technological Advancements and Innovations in Yacht Manufacturing:

The luxury yacht market is also propelled by significant technological advancements and innovations in yacht manufacturing. Modern yachts are equipped with cutting-edge technologies for navigation, safety, and entertainment. Developments such as hybrid propulsion systems, advanced stabilization systems, and eco-friendly features appeal to environmentally conscious buyers. The integration of luxury amenities such as bespoke interiors, advanced entertainment systems, and state-of-the-art communication technologies cater to the demands of customers seeking exclusivity and comfort. Furthermore, the advent of automation and IoT (Internet of Things) in yacht operation has enhanced the ease of handling and maintaining these vessels, making them more appealing to a broader audience.

Shift in Lifestyle Preferences Towards Experiential Luxury:

There's a noticeable shift in lifestyle preferences, particularly among affluent consumers, towards experiential luxury. Luxury yachts offer a unique blend of adventure, privacy, and exclusivity, aligning well with this trend. The desire for personalized experiences, such as exploring remote destinations or hosting exclusive events on private yachts, has grown. This demand for unique and customized experiences drives the luxury yacht market, as clients seek yachts that offer not just transportation but an entire lifestyle package. Additionally, the trend of yacht chartering for vacations and corporate events is on the rise, further stimulating the market as it opens up the luxury yachting experience to a wider audience, including those who may not wish to own a yacht but are keen to experience it.

Luxury Yacht Market Report Segmentation:

Breakup by Type:

Sailing Luxury Yacht
Motorized Luxury Yacht
Others

Motorized luxury yachts dominate the market due to their superior speed, range, and amenities, appealing to clients seeking high-performance and luxurious maritime experiences.

Breakup by Size:

75-120 Feet
121-250 Feet
Above 250 Feet

The 75-120 feet segment leads in size, offering an optimal balance of lavish amenities and manageable operation, catering to a broad customer base.

Breakup by Material:

FRP/ Composites
Metal/ Alloys
Others

FRP (Fiber Reinforced Plastics) and composites are the most popular materials due to their strength, lightweight properties, and lower maintenance requirements, making them ideal for luxury yacht construction.

Breakup by Application:

Commercial
Private

The commercial application, encompassing charter services and exclusive events, is the largest market, driven by the growing trend of experiential luxury travel.

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

North America, with its extensive coastline and affluent customer base, emerges as the largest regional market, characterized by high demand for luxury yachts for both personal and commercial use.

Ask Analyst for Customized Report: https://www.imarcgroup.com/request?type=report&id=2280&flag=C

Competitive Landscape With Key Players:

The competitive landscape of the global 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 Highlights of the Report:

Market Performance (2018-2023)
Market Outlook (2024-2032)
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.

Contact Us:
IMARC Group
134 N 4th St
Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

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.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Luxury Yacht Market Analysis, Industry Size, Share, Growth and Competitive Landscape 2024-2032 here

News-ID: 3375505 • Views:

More Releases from IMARC Group

India Seafood Market Outlook 2025-2033: Key Trends, Size, Share and Growth Insights
India Seafood Market Outlook 2025-2033: Key Trends, Size, Share and Growth Insig …
As indicated in the latest market research report published by IMARC Group, titled "India Seafood Market Report by Type (Fish, Shrimps, Others), Form (Fresh/Chilled, Frozen/Canned, Processed), Distribution Channel (Off Trade, On Trade), and Region 2025-2033," this report provides an in-depth analysis of the industry, featuring insights into the market. It encompasses competitor and regional analyses, as well as recent advancements in the market. Market Size & Future Growth Potential: The India seafood
India Mutual Funds Market: Size, Share, Trends, Growth and Industry Outlook 2025-2033
India Mutual Funds Market: Size, Share, Trends, Growth and Industry Outlook 2025 …
Mutual Funds Market in India 2025: Base Year: 2024 Historical Years: 2019-2024 Forecast Years: 2025-2033 Market Size in 2024: USD 2.50 Billion Market Size in 2033: USD 5.90 Billion Market Growth Rate (CAGR) 2025-2033: 10.03% How Big is the India Mutual Funds Industry? The India mutual funds market size reached USD 2.50 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 5.90 Billion by 2033, exhibiting a growth rate (CAGR) of 10.03% during 2025-2033. Request
Dimethyl Ether Market Valuation to Reach USD 15.73 Billion by 2033 - Industry Expanding at a CAGR of 8.09%
Dimethyl Ether Market Valuation to Reach USD 15.73 Billion by 2033 - Industry Ex …
Market Overview: The dimethyl ether market is experiencing significant growth momentum, driven by increasing demand for cleaner fuel alternatives, expanding applications in various industries, and supportive government policies promoting sustainable energy solutions. According to IMARC Group's latest research publication, "Dimethyl Ether Market Size, Share, Trends and Forecast by Raw Material, Application, End-Use Industry, and Region, 2025-2033", the global dimethyl ether market size reached USD 7.22 Billion in 2024. Looking forward, IMARC
Glucometer Manufacturing Plant Report 2025: Unit Setup, Cost and Requirements, Project Economics
Glucometer Manufacturing Plant Report 2025: Unit Setup, Cost and Requirements, P …
Setting up a glucometer manufacturing plant requires thorough market research alongside a minute understanding of numerous operating factors such as unit processes, purchasing of raw materials, utility supply, infrastructure creation, equipment and technology specifications, human resource planning, logistics, and cash outlay. IMARC Group's report titled "Glucometer Manufacturing Plant Cost Analysis Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing a

All 5 Releases


More Releases for Yacht

Yacht Chartering (Yacht Rental) Market Size and Forecast
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- The global Yacht Chartering (Yacht Rental) Market is expected to record a CAGR of XX.X% from 2024 to 2031 In 2024, the market size is projected to reach a valuation of USD XX.X Billion. By 2031 the valuation is anticipated to reach USD XX.X Billion. Yacht Chartering (Yacht Rental) Market Size And Scope The yacht chartering market is experiencing robust growth, with an estimated value of USD 19 billion
Yacht Club Market Analysis By Top Keyplayers - St. Francis Yacht Club, San Diego …
The "Yacht Club Market" is expected to reach USD xx.x billion by 2031, indicating a compound annual growth rate (CAGR) of xx.x percent from 2024 to 2031.  The market was valued at USD xx.x billion In 2023. Growing Demand and Growth Potential in the Global Yacht Club Market, 2024-2031 Verified Market Research's most recent report, "Yacht Club Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2030," provides an in-depth examination
Newport Yacht Interiors Nominated for Prestigious International Yacht & Aviation …
Newport Yacht Interiors has been nominated for the REFIT category at the 2024 International Yacht & Aviation Awards for their redesign of the S/Y BUNDALONG. This recognition underscores their commitment to merging functionality with luxury in yacht interiors. The awards ceremony will take place on May 31 in Cannes, France. Additionally, Newport Yacht Interiors has released a video showcasing their detailed craftsmanship on the S/Y BUNDALONG project. Newport, RI - Newport
Global Yacht Club Market Overview, Industry Top Manufactures, Market Size, Indus …
LOS ANGELES, UNITED STATES - The report on the global Lighting Distribution Box market is comprehensively prepared with main focus on the competitive landscape, geographical growth, segmentation, and market dynamics, including drivers, restraints, and opportunities. It sheds light on key production, revenue, and consumption trends so that players could improve their sales and growth in the Global Lighting Distribution Box Market. It offers a detailed analysis of the competition and
Yacht Charter Service Market to Witness Huge Growth by 2026 | Northrop & Johnson …
Global Yacht Charter Service Market Report 2020 is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing investment structure of the Global Yacht Charter Service Market. Some of the key players profiled in the study are Yachtico, Zizooboats, Boat International
Yacht Transport Market Booming Worldwide with Top Transport Industry Players lik …
Yacht transport is the shipping of a yacht to a destination instead of sailing or motoring it. Yacht transport is an alternative to the traditional passaging (sailing or motoring) to reach desired destinations around the globe. Transport when compared to passaging is cost effective, safer and improves availability. New market research report helps analyze the Yacht Transport market on a global basis and also offers forecast and statistics in terms of