NEW YORK, May 27, 2022 /PRNewswire/ -- The Luxury Yacht Market size is expected to grow by 327.00 units with a YOY growth of 7.84% during the forecast period. One of the key factors driving the luxury yacht market is the increase in recreational tourism. The report offers an up-to-date analysis of the current market scenario and information from several leading manufacturers.
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This market research report extensively covers Luxury Yacht Market segmentations by the following:
- Type - Software and services
- Motor yachts will gain a considerable part of the luxury yacht market. Because of the growing demand for luxury motor yachts from both individual owners and chartered yacht service providers, the motor yacht market is predicted to develop faster than the sail yacht category.
- Geography - North America, Europe, APAC, Middle East and Africa, and South America
- Europe will account for 34% of the market's growth. In Europe, the primary markets for luxury yachts are the United Kingdom and Germany. The market in this region will expand quicker than the market in other regions. Over the forecast period, vendor product launches will aid the growth of the luxury boat market in Europe.
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Luxury Yacht Market Dynamics
Market Driver
The rise in recreational tourism is one of the major drivers driving the luxury boat market. Tourism is a key economic activity that contributes significantly to the economic growth, employment, and social development of many countries across the world. This is partly due to a rise in the number of tourists from emerging nations like China and India, who spend nearly three times as much on overseas tourism as they do on domestic tourism. Increasing tourism and recreational activities are just two of the major reasons behind this.
Market Trend
The adoption of sophisticated materials is another important aspect propelling the luxury boat market forward. The majority of conventional boats are made of steel or aluminium, which makes them hefty and limits their fuel efficiency. Despite the fact that steel and aluminium are less expensive than alternative materials like glass fibre reinforced composites or pure carbon fibre, yacht builders recognise the overall benefits of using carbon fibre in the boat's construction.
Market Challenge
One of the major roadblocks to the luxury yacht market's expansion is the high cost of operating. ACs, televisions, navigation aids, radar, echo-sounding, and autopilot are all standard features onboard motor luxury yachts. Luxury yachts require a reliable power generation system to run all of these features. As a result, luxury motor yachts have higher operating and fueling expenditures than luxury sail yachts. The high operating costs of commercially used luxury boats provide a threat to the worldwide luxury yacht market, despite the fact that their private operation is minimal.
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Luxury Yacht Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 11.32% |
Market growth 2021-2025 | 327.00 units |
Market structure | Fragmented |
YoY growth (%) | 11.06 |
Regional analysis | Europe, APAC, North America, South America, and MEA |
Performing market contribution | Europe at 34% |
Key consumer countries | US, UK, Germany, China, and Japan |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled | Alexander Marine International Co. Ltd., Azimut Benetti SpA, Brunswick Corp., Christensen Shipyards LLC, Damen Shipyards Group NV, Feadship Holland BV, FERRETTI SpA, Heesen Yachts Sales BV, Overmarine Group Spa, and Palumbo Group Spa |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Luxury Yacht Market Segmentation
- Type
- Motor yachts
- Sail yachts
- Geography
- North America
- Europe
- APAC
- Middle East And Africa
- South America
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Luxury Yacht Market Vendor
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market. Â
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Alexander Marine International Co. Ltd.
- Azimut Benetti SpA
- Brunswick Corp.
- Christensen Shipyards LLC
- Damen Shipyards Group NV
- Feadship Holland BV
- FERRETTI SpA
- Heesen Yachts Sales BV
- Overmarine Group Spa
- Palumbo Group Spa
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Product Insights and News
- Alexander Marine Co. Ltd. - The company offers luxury yacht through MEGAYACHTS and MOTORYACHTS product segments.
- Damen Shipyards Group - The company offers superyacht by Dutch luxury yacht builder AMELS.
- Azimut Benetti Spa - The company offers luxury yacht through Azimut Yachts brand.
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Table of Contents
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 (units)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Type
- 5.1 Market segments
- Exhibit 15: Type - Market share 2020-2025 (%)
- 5.2 Comparison by Type
- Exhibit 16: Comparison by Type
- 5.3 Motor yachts - Market size and forecast 2020-2025
- Exhibit 17: Motor yachts - Market size and forecast 2020-2025 (units)
- Exhibit 18: Motor yachts - Year-over-year growth 2020-2025 (%)
- 5.4 Sail yachts - Market size and forecast 2020-2025
- Exhibit 19: Sail yachts - Market size and forecast 2020-2025 (units)
- Exhibit 20: Sail yachts - Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by Type
- Exhibit 21: Market opportunity by Type
6 Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 23: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 24: Geographic comparison
- 7.3 Europe - Market size and forecast 2020-2025
- Exhibit 25: Europe - Market size and forecast 2020-2025 (units)
- Exhibit 26: Europe - Year-over-year growth 2020-2025 (%)
- 7.4 APAC - Market size and forecast 2020-2025
- Exhibit 27: APAC - Market size and forecast 2020-2025 (units)
- Exhibit 28: APAC - Year-over-year growth 2020-2025 (%)
- 7.5 North America - Market size and forecast 2020-2025
- Exhibit 29: North America - Market size and forecast 2020-2025 (units)
- Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
- 7.6 South America - Market size and forecast 2020-2025
- Exhibit 31: South America - Market size and forecast 2020-2025 (units)
- Exhibit 32: South America - Year-over-year growth 2020-2025 (%)
- 7.7 MEA - Market size and forecast 2020-2025
- Exhibit 33: MEA - Market size and forecast 2020-2025 (units)
- Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 35: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 36: Market opportunity by geography (units)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- Exhibit 37: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Competitive Landscape
- 9.2 Vendor landscape
- Exhibit 38: Vendor landscape
- 9.3 Landscape disruption
- Exhibit 39: Landscape disruption
- Exhibit 40: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 41: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 42: Market positioning of vendors
- 10.3 Alexander Marine International Co. Ltd.
- Exhibit 43: Alexander Marine International Co. Ltd. - Overview
- Exhibit 44: Alexander Marine International Co. Ltd. - Product and service
- Exhibit 45: Alexander Marine International Co. Ltd. - Key offerings
- 10.4 Azimut Benetti SpA
- Exhibit 46: Azimut Benetti SpA - Overview
- Exhibit 47: Azimut Benetti SpA - Product and service
- Exhibit 48: Azimut Benetti SpA - Key offerings
- 10.5 Brunswick Corp.
- Exhibit 49: Brunswick Corp. - Overview
- Exhibit 50: Brunswick Corp. - Business segments
- Exhibit 51:Brunswick Corp. - Key news
- Exhibit 52: Brunswick Corp. - Key offerings
- Exhibit 53: Brunswick Corp. - Segment focus
- 10.6 Christensen Shipyards LLC
- Exhibit 54: Christensen Shipyards LLC - Overview
- Exhibit 55: Christensen Shipyards LLC - Product and service
- Exhibit 56: Christensen Shipyards LLC - Key offerings
- 10.7 Damen Shipyards Group NV
- 10.8 Feadship Holland BV
- Exhibit 61: Feadship Holland BV - Overview
- Exhibit 62: Feadship Holland BV - Product and service
- Exhibit 63: Feadship Holland BV - Key offerings
- 10.9 FERRETTI SpA
- Exhibit 64: FERRETTI SpA - Overview
- Exhibit 65: FERRETTI SpA - Product and service
- Exhibit 66:FERRETTI SpA - Key news
- Exhibit 67: FERRETTI SpA - Key offerings
- 10.10 Heesen Yachts Sales BV
- Exhibit 68: Heesen Yachts Sales BV - Overview
- Exhibit 69: Heesen Yachts Sales BV - Product and service
- Exhibit 70:Heesen Yachts Sales BV - Key news
- Exhibit 71: Heesen Yachts Sales BV - Key offerings
- 10.11 Overmarine Group Spa
- Exhibit 72: Overmarine Group Spa - Overview
- Exhibit 73: Overmarine Group Spa - Product and service
- Exhibit 74: Overmarine Group Spa - Key offerings
- 10.12 Palumbo Group Spa
- Exhibit 75: Palumbo Group Spa - Overview
- Exhibit 76: Palumbo Group Spa - Product and service
- Exhibit 77: Palumbo Group Spa - Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 78: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 79: Research Methodology
- Exhibit 80: Validation techniques employed for market sizing
- Exhibit 81: Information sources
- 11.4 List of abbreviations
- Exhibit 82: List of abbreviations
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