Rapid urbanization, along with significant growth in the recreational tourism sector fuel the growth of the global Luxury Yacht market at a CAGR of 7.50 % during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the “Global Luxury Yacht Market”.

The Luxury Yacht market is estimated to register a CAGR of 20.65 % during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Luxury Yacht market— Alexander Marine Co Ltd, Damen Shipyards Group, AzimutBenettiS.p.A, Feadship, FERRETTI S.P.A., Horizon Yacht USA, Princess Yachts International plc, Sanlorenzo Spa, Sunseeker International Limited, and Viking Yacht among others.

Market Highlights

The global Luxury Yacht market is accounted for to register a CAGR of 7.50 % during the forecast period and is estimated to reach USD 43,721.63 million by 2032.

Luxury yachts provide a distinctive and exclusive way to enjoy coastal regions and the water, attracting affluent individuals and tourists who seek high-end recreational experiences. The growth of the recreational tourism sector has further fueled the demand for luxury yachts. As more people look for unique and luxurious travel experiences, luxury yacht charters have become famous for exploring coastal destinations and engaging in water-based leisure activities. The expanding middle class in emerging economies and increasing disposable incomes have also contributed to the rising demand for luxury yacht experiences. Also, establishing marinas and yacht clubs in popular tourist destinations has created the necessary infrastructure to support the luxury yacht market. These facilities offer docking and maintenance services, amenities, and entertainment options for yacht owners and charter guests. Overall, the rapid urbanization and growth in the recreational tourism sector have created a favorable environment for the luxury yacht market to thrive. Individuals and tourists seek exclusive and memorable experiences on the water, driving the demand for luxury yachts.

In recent years, the luxury yacht industry has also witnessed a growing emphasis on environmental sustainability. As concerns about the ecological impact of leisure and tourism activities have gained traction worldwide, there has been a shift towards more eco-friendly and energy-efficient yacht designs and practices. Yacht manufacturers are increasingly incorporating green technologies, such as hybrid propulsion systems and advanced waste management solutions, to reduce their carbon footprint and minimize the impact on marine ecosystems.

Moreover, yacht charter companies are promoting responsible cruising practices, encouraging guests to engage in activities like wildlife conservation and ocean clean-up initiatives. This environmentally conscious approach not only appeals to socially responsible individuals but also aligns with the evolving expectations of tourists who desire luxurious experiences without compromising the health of our oceans and coastal regions. As sustainability becomes an integral part of the luxury yacht market, it not only ensures a brighter future for the industry but also contributes to the preservation of our planet's natural beauty.

Access full report @ https://www.marketresearchfuture.com/reports/luxury-yacht-market-10884

Segment Analysis

The global Luxury Yacht market has been segmented based on Size, Type, Material.

Based on size, the global Luxury Yacht Market has been segmented into 75-120 feet, 121-250 feet and Above 250 feet. The 121-250 feet would be the majority shareholder in 2022, contributing around 27.7 % to the market revenue. The 121-250 feet category symbolizes a commitment to luxury and a desire to create unforgettable experiences on the open seas, appealing to those who seek the yacht extravagance. Some examples of yachts in this range include the Benetti Oasis 40M, Sunseeker 131, and the Majesty 140.

Based on type, the global Luxury Yacht Market has segmented into sailing luxury yacht, motorized luxury yacht and others. The motorized yachts held the largest market share in 2022. The motorized yachts offer versatility, providing a wider range of amenities such as spacious onboard areas, advanced entertainment systems, and increased luxury comforts. This appeals to individuals who prioritize contemporary features and convenience during their yachting experiences.

Based on material, the global Luxury Yacht Market is segmented into FRP/composites, metal/alloys, and others. FRP/Composites held the majority share in 2022. FRP/Composites allow for creative and personalized yacht designs, as they can be molded into intricate shapes. This high strength-to-weight ratio means they are both robust and lightweight. These materials also reduce maintenance costs compared to traditional alternatives, leading to long-term savings for yacht owners. Importantly, they contribute to sustainability efforts by lessening the environmental impact of yacht production.

Regional Analysis

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. The Europe Luxury Yacht market accounted for ~46.4 % in 2022. Europe is likely to be the largest contributor to the Luxury Yacht market. The European market players are introducing luxury yachts with high-tech interiors and amenities, which is providing a positive impact on market growth. Luxury yacht manufacturing companies are focused on quality because it is the prime differentiating factor between luxury yachts and non-luxury yachts. The electrification of yachts is a growing market trend in the region. Princess Yachts International plc, Sanlorenzo Spa, Sunseeker International Limited, Damen Shipyards Group are some of the major players operating in the market.

The North America Luxury Yacht market is witnessing significant growth driven by several key factors such as rising disposable income, surge in inclination toward recreational and expeditions, and the rise in the trend of yacht tourism has been driving the growth of the market in the region. Also, the presence of key market players in the region and different strategies adopted by them such as mergers, acquisitions, partnerships, and the launch of new and innovative solutions is anticipated to drive the growth of the market in North America.

The Asia Pacific luxury yacht market is growing rapidly due to several factors. The region has an extensive coastline of over 135,000 kilometers and many picturesque islands, making it an ideal location for maritime enthusiasts. The tourism sector is also driving demand for luxury yachts as travelers seek unique and memorable experiences. The region's rising living standards and growing income levels are further fueling the demand for luxurious Yachts in the region. China has seen a surge in demand for luxury yachts, driven by their utility in hosting business meetings, parties, and various high-profile events. Governments across the region are taking proactive steps to boost the yacht industry, and the demand for luxury yachts continues to rise due to the sizable young population in Asia Pacific showing growing enthusiasm for sailing and maritime activities.

Key Findings of the Study

• The global Luxury Yacht market is expected to reach USD 59,658.5 million by 2032, at a CAGR of 7.50 % during the forecast period.


• The Asia Pacific region accounted for the fastest-growing global market.


• Based on Type, the Motorized Luxury Yacht segment was attributed to holding the largest market in 2022, with an approximate market share of 79.3%.


• Alexander Marine Co Ltd, Damen Shipyards Group, AzimutBenettiS.p.A, Feadship, FERRETTI S.P.A., Horizon Yacht USA, Princess Yachts International plc, Sanlorenzo Spa, Sunseeker International Limited, and Viking Yacht among others are some of the players in the market.