June 25, 2024

Global Luxury Yacht Industry With 8.1% CAGR By the Year 2028|Report By IMR

Luxury Yacht Market

Global Luxury Yacht Market was valued at USD 7.78 Billion in 2021 and is expected to reach USD 13.42 Billion by the year 2028, at a CAGR of 8.1%. The analysis period 2023-2030

A yacht is any type of sea vessel that is mostly utilized for recreational or pleasure purposes like entertaining, cruising, fishing, water sports, or year-round accommodations. Yachts are large enough and have sleeping quarters on board for overnight trips, a kitchen, and a bathroom. Luxury yachts are commonly associated with luxury and opulence, and a symbol of a lavish lifestyle. The yacht industry is expected to witness increased demand for luxury yachts with long-range capabilities and more lavish amenities, given the growing desire of luxury yacht owners for adventure travels to popular locations such as Antarctica and Galapagos.

 The Major Players In The Luxury Yacht Market Include:

Damen Yachting BV (Netherlands),Azimut|Benetti Group (Italy),Baglietto S.p.A. (Italy),BENETEAU (France),Cheoy Lee Shipyards Limited (China),Dyna Craft Ltd. (US),Feadship (Netherlands),Ferretti S.p.a (Italy),FIPA Group (Germany),Fr. Lürssen Werft GmbH & Co. KG (Germany),HanseYachts AG (Germany) Heesen Yachts (Netherlands),Horizon (US),ICON Yachts (Netherlands),Kingship Marine Limited (China),O Yachts (US),Oceanco (Netherlands),Overmarine Group (Italy),Perini Navi S.p.a (Italy),Bavaria Yachtbau GmbH (Germany),Princess Yachts International Plc (UK),Sanlorenzo Spa (Italy),Sunseeker (UK),Brunswick Corporation (US)

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Market Has Segmented The Global Luxury Yacht Market On The Basis Of Type, Application, And Region:

By Type          

  • Super Yacht
  • Fly Bridge Yacht
  • Sport Yacht
  • Long Range Yacht
  • Others

By Application          

  • Private use
  • Commercial use
  • Special use

By Regional Outlook

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Covid-19 Impact and Recovery Analysis on Industry:

The Covid-19 pandemic places unprecedented restrictions on how people and businesses can work, the luxury yacht industry has had to adapt rapidly. Second and even third waves of the virus worldwide are likely to trim a strong rebound seen in mid-2020, and segments including charter have been hit hard. Covid has overshadowed everything. Moreover, clients in yachting don’t take new-build purchase decisions particularly quickly, and that has been exacerbated by the uncertainty.

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