Yacht Market Size - By Type (Flybridge Yacht, Sports Yacht, Cruiser Yacht), By Length (Below 24 meters, 24 - 45 meters, Above 45 meters), By Propulsion (Motor, Sail), Regional Outlook & Global Forecast 2023 - 2032
Yacht market size is projected to expand at 6.7% CAGR from 2023 to 2032. The surge in the number of high-net-worth individuals globally is increasing the demand for luxury assets, including yachts. The rising preference for leisure and recreational activities is steering the higher desire for exclusive travel experiences. The growing technological advancements in yacht design, propulsion, and navigation systems are also contributing to enhanced performance and comfort, further attracting numerous discerning buyers.
Of late, the popularity of yacht charter services among those seeking temporary access to yachting experiences without ownership responsibilities has significantly soared. Environmental considerations are also positively influencing the market development, driven by the growing focus on sustainable materials and eco-friendly propulsion systems. For instance, in July 2023, Hanse Yachts Germany launched the 410 model, featuring optional electric propulsion and unparalleled spaciousness, poised to revolutionize the realm of 40-foot sailing yachts, with an effort to make their product range more sustainable.
The yacht market is segregated into type, length, propulsion, and region.
The market share from the sports yacht type segment is projected to rise at significant CAGR during 2023-2032. The growth can be attributed to the heightened demand for high-performance vessels, higher technological innovations for enhancing yacht capabilities, and the growing focus on luxurious amenities. Moreover, consumers are increasingly drawn to the combination of speed, style, and comfort, further fueling the product sales.
Based on propulsion, the sail segment is estimated to accumulate sizeable share of the yacht market by 2032. This is ascribed to the surge in the number of eco-conscious consumers favoring sustainable and fuel-efficient options. The rising environmental awareness, advancements in sail technology, and increasing appeal of traditional sailing experiences will also favor the demand for sailboats during the analysis period.
Regionally, the Europe yacht market size is projected to expand at rapid pace from 2023 to 2032, due to the increasing disposable incomes, a strong appetite for luxury leisure experiences, and the thriving tourism sector in the region. Additionally, the rising trend of yacht chartering and the increasing allure of picturesque coastal destinations will drive the regional market expansion during the analysis period.
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Yacht market 360 degree synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Type trends
2.5 Length trends
2.6 Propulsion trends
Chapter 3 Yacht Market Industry Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.8.1 Partnership/collaboration
3.8.2 Merger/acquisition
3.8.3 Investment
3.8.4 type launch/innovation
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Increasing number of high-net-worth individuals across the globe
3.10.1.2 High manufacturers focus on building technologically integrated yachts.
3.10.1.3 Growing demand for luxury tourism and sailing activities in North America & Europe
3.10.1.4 Flourishing tourism industry and increasing yacht ownership in the MEA region.
3.10.1.5 Positive outlook of the yacht manufacturing industry
3.10.2 Industry pitfalls & challenges
3.10.2.1 High investments and upkeep costs associated with yachts
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022
Chapter 5 Yacht Market Estimates & Forecast, By Type (USD Million and Units)
5.1 Key trends, by type
5.2 Flybridge yacht
5.3 Sports yacht
5.4 Cruiser yacht
Chapter 6 Yacht Market Estimates & Forecast, By Length (USD Million and Units)
6.1 Key trends, by length
6.2 Below 24 meters
6.3. 24-45 meters
6.4 Above 45 meters
Chapter 7 Yacht Market Estimates & Forecast, By Propulsion (USD Million and Units)
7.1 Key trends, by propulsion
7.2 Motor
7.3 Sail
Chapter 8 Yacht Market Estimates & Forecast, By Region (USD Million and Units)
8.1 Key trends, by region
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 UK
8.3.2 Germany
8.3.3 France
8.3.4 Italy
8.3.5 Spain
8.3.6 Netherlands
8.4 Asia Pacific
8.4.1 China
8.4.2 India
8.4.3 Japan
8.4.4 Australia
8.5 Latin America
8.5.1 Brazil
8.5.2 Mexico
8.5.3 Argentina
8.6 MEA
8.6.1 UAE
8.6.2 South Africa
Chapter 9 Company Profiles
9.1 Azimut Benetti
9.2 Baglietto S.p.A
9.3 Bavaria Yachts
9.4 Ferretti S.p.A.
9.5 Groupe Beneteau
9.6 Hanse Group
9.7 Heesen Yachts
9.8 King Marine Yachts
9.9 Overmarine Group SPA
9.10 Princess Yachts
9.11 Riveria Australia Pty. Ltd.
9.12 Royal Huisman Shipyard B.V.
9.13 Sanlorenzo S.p.A
9.14 Sunseeker International Ltd.
9.15 The Italian Sea Group
9.16 Viking Yacht Company
Data Tables
TABLE 1 Global yacht market 36 degree synopsis, 2018-2032