According to IMARC Group’s latest report entitled “Luxury Yachts Market : Global Industry Trends, Share, Size, Growth, Opportunities and Forecasts 2022-2027‘, the global luxury yacht market reached US$6.5 billion in 2021. Looking ahead, IMARC Group expects the market to reach $11.8 billion by 2027 with a CAGR of 10.9% in the period 2022-2027.
As a novel coronavirus (COVID-19) As the crisis sweeps the world, we continuously monitor changes in the markets and consumer buying behavior worldwide – our assessments of the latest market trends and forecast values, taking into account the impact of this pandemic. These observations are integrated into the report.
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A luxury yacht is a crewed sailing watercraft used primarily for leisure and sport. It is powered by wind sailing or by a propulsion system that includes an internal combustion engine and a gas turbine. Luxury yachts are made from various materials such as steel, aluminum, fiberglass, wood, carbon fiber, treated wood, etc. They are generally chartered or rented from private companies and equipped with sophisticated, luxurious and personalized facilities such as a whirlpool spa, gym, sauna and sun loungers. Luxury yachts are also equipped with technologically advanced components to enhance the yacht’s overall performance.
Market trends and demand:
Rapid urbanization coupled with significant growth in the leisure tourism sector is primarily driving the growth of the luxury yacht market. In addition, luxury yachts are rented by yacht fleet operators for organizing business meetings, leisure activities and events, thus driving the global market. Furthermore, the wide usage of innovative building materials along with the increasing adoption of customized solutions to meet the specific needs of the customer is fueling the market growth. Rising environmental concerns are catalysing demand for fuel efficient and lightweight product variants which are expected to continue to drive the luxury yacht market in the years to come.
Luxury Yacht Market 2022-2027 Competitive Analysis and Segmentation:
Competitive landscape with key players:
The competitive landscape of the Luxury Yachts market has been studied in the report that contains the detailed profiles of the major market players.
Some of these key players are:
- Princess Yachts Limited
- Viking Yacht Company
- Feadship Holland B.V
- Azimuth – Benetti SPA
- Alexander Marine International
- Horizon Yacht USA
- Fincantieri SpA (CDP Industrie SpA)
- Heesen Yachts Sales B.V
- Braunschweig society
Key Market Segmentation:
The report has segmented the global luxury yacht market based on type, size, material, application and region.
Breakdown by type:
- Sailing luxury yacht
- Motorized luxury yacht
Separation by size:
- 75-120 feet
- 121-250 feet
- Over 250 feet
Breakdown by material:
- GRP/ composite materials
- metal alloys
Separation by application:
Breakdown by region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market drivers and success factors
- SWOT analysis
- The impact of COVID-19 on the global market
- Analysis of the value chain
- Structure of the global market
- Comprehensive mapping of the competitive landscape
If you require specific information that is not currently in the scope of the report, we will provide it as part of the customization.
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