“Luxury Yacht Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on luxury yacht market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for luxury yacht ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The luxury yacht market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Type: Motor Yacht; Sailing Yacht; Other Types
- 2) By Size: Less Than 50 Meters; 50-100 Meters; 100-150 Meters; More Than 150 Meters
- 3) By Hull Material: Fiber Reinforced Polymers And Composites; Metals And Alloys; Other Hull Materials
- 4) By Application: Commercial; Private
- Companies Mentioned: Feadship; Azimut Benetti SPA; Ferretti SPA; Damen Shipyards Group; Viking Yacht Company
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players 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., Sanlorenzo SPA, Brunswick Corporation, MarineMax Inc., Riveria Australia Pty Ltd., and Trinity Yachts.
The global luxury yacht market 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 luxury yacht market is expected to grow to $9.61 billion in 2027 at a CAGR of 8.7%.
The luxury yacht market consists of sales of luxury gulet yachts, hybrid yachts with sails and motors, open yachts, cruisers, cabin cruisers, and express cruisers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Luxury yachts are high-end finished crewed sailing vehicles having advanced technological features used for recreational activities.
Europe was the largest region in the luxury yacht market in 2022. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the luxury yacht market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of luxury yachts are motor yachts, sailing yachts, and other types. A sailing yacht refers to a small boat that uses a sail or sails to move along. The sizes involved are less than 50 meters, 50-100 meters, 100-150 meters, and more than 150 meters. They are made of various hull materials such as fiber-reinforced polymers and composites, metals and alloys, and others and used for commercial and private applications.
A surge in tourism and recreational activities is expected to propel the growth of the luxury yacht market going forward. 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. For instance, in May 2022, according to World Tourism Organization, a US-based tourism agency, global international tourist arrivals doubled (+130%) in January 2022 as compared to 2021, whereas, in January 2022, 18 million additional visitors were recorded worldwide. Therefore, the surge in tourism and recreational activities is driving the growth of the luxury yacht market.
Product innovations are a key trend gaining popularity in the luxury yacht market. 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. They are all located on the lower deck, which is well-lit by natural light. In addition, the 22XP includes a sizable main deck saloon, an open cockpit, and a majestic flybridge.
In December 2021, White River Marine Group, a US-based builder of fishing and recreational boats by volume acquired Hatteras Yachts Inc. for an undisclosed amount. With this acquisition, White River will relocate the production of its saltwater brands, Mako and Ranger Saltwater, from the Midwest to the New Bern factory and invest $35 million in its modernization. Hatteras Yachts Inc is a US-based yacht manufacturer that makes motor yachts, superyachts, luxury yacht, and convertible sport fishing yachts.
The countries covered in the luxury yacht market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The luxury yacht market research report is one of a series of new reports from The Business Research Company that provides luxury yacht market statistics, including global market size, regional shares, competitors with a luxury yacht market share, detailed luxury yacht market segments, market trends and opportunities, and any further data you may need to thrive in the luxury yacht industry. This luxury yacht market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Luxury Yacht Market Characteristics
3. Luxury Yacht Market Trends And Strategies
4. Luxury Yacht Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Luxury Yacht Market
- 4.2. Ukraine-Russia War Impact On Luxury Yacht Market
- 4.3. Impact Of High Inflation On Luxury Yacht Market
5. Luxury Yacht Market Size And Growth
- 5.1. Global Luxury Yacht Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Luxury Yacht Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Luxury Yacht Market Segmentation
- 6.1. Global Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Motor Yacht
- Sailing Yacht
- Other Types
- 6.2. Global Luxury Yacht Market, Segmentation By Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Less Than 50 Meters
- 50-100 Meters
- 100-150 Meters
- More Than 150 Meters
- 6.3. Global Luxury Yacht Market, Segmentation By Hull Material, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Fiber Reinforced Polymers And Composites
- Metals And Alloys
- Other Hull Materials
- 6.4. Global Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Commercial
- Private
7. Luxury Yacht Market Regional And Country Analysis
- 7.1. Global Luxury Yacht Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Luxury Yacht Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Luxury Yacht Market
- 8.1. Asia-Pacific Luxury Yacht Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Luxury Yacht Market
- 9.1. China Luxury Yacht Market Overview
- 9.2. China Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Luxury Yacht Market
- 10.1. India Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Luxury Yacht Market
- 11.1. Japan Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Luxury Yacht Market
- 12.1. Australia Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Luxury Yacht Market
- 13.1. Indonesia Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Luxury Yacht Market
- 14.1. South Korea Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Luxury Yacht Market
- 15.1. Western Europe Luxury Yacht Market Overview
- 15.2. Western Europe Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Luxury Yacht Market
- 16.1. UK Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Luxury Yacht Market
- 17.1. Germany Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Luxury Yacht Market
- 18.1. France Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Luxury Yacht Market
- 19.1. Eastern Europe Luxury Yacht Market Overview
- 19.2. Eastern Europe Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Luxury Yacht Market
- 20.1. Russia Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Luxury Yacht Market
- 21.1. North America Luxury Yacht Market Overview
- 21.2. North America Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Luxury Yacht Market
- 22.1. USA Luxury Yacht Market Overview
- 22.2. USA Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Luxury Yacht Market
- 23.1. South America Luxury Yacht Market Overview
- 23.2. South America Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Luxury Yacht Market
- 24.1. Brazil Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Luxury Yacht Market
- 25.1. Middle East Luxury Yacht Market Overview
- 25.2. Middle East Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Luxury Yacht Market
- 26.1. Africa Luxury Yacht Market Overview
- 26.2. Africa Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Luxury Yacht Market Competitive Landscape And Company Profiles
- 27.1. Luxury Yacht Market Competitive Landscape
- 27.2. Luxury Yacht Market Company Profiles
- 27.2.1. Feadship
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Azimut Benetti SPA
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Ferretti SPA
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Damen Shipyards Group
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Viking Yacht Company
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Luxury Yacht Market
29. Luxury Yacht Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer