
Global Yacht Market
Description
Global Yacht Market (by Propulsion, Category, Type, Length, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2026)
Market Insight:
A yacht is a maritime vessel that is only utilised for leisure or pleasure reasons, such as cruising, entertainment, water sports, fishing, or year-round lodgings. Yachts are normally large enough to accommodate sleeping rooms, a kitchen and a restroom on board for overnight voyages. They are also huge enough to require more than human effort (such as rowing) to move them forward.
Many experts in the luxury yacht building industry are concentrated in a few nations, notably Italy, Turkey, the Netherlands, the US, and Germany. The Italian producers enjoy a global reputation for quality and flair. Customers in this sector are highly rich individuals who can afford the high purchase price of a big yacht as well as the ongoing maintenance requirements. Some of the variables driving market growth include a rise in income inequality, increased disposable income, and a favourable macroeconomic outlook. The global yacht market is expected to reach US$12.36 billion in 2023, growing at a CAGR of 7.02% during the forecast period.
Segment Covered:
- By Propulsion: The market report has segmented the global yacht market into three segments in terms of propulsion: Outboard & Inflatables, Inboard, and Sailing. The outboard & inflatables segment accounted for the maximum share in the global yacht market owing to benefits such as high speed, power, and large distance coverage, among others. The Inboard segment is further segmented into three categories: Composite, Made-to-measure, and Super. The global made-to-measure inboard yacht market is expected to experience significant growth during the forecasted period driven by the increasing awareness and acceptance of yachting culture in the Asia Pacific and a series of favorable policies supporting the yacht industry promulgated in major countries.
- By Type: According to report, the market has been segmented into five segments on the basis of type: Super Yacht, Sport Yacht, Flybridge Yacht, Long Range Yacht, and Others. The super yacht segment is holding the dominating share in the market. The growth of the market is driven by the increase in the number of potential end customers i.e., VHNWIs and UHNWIs.
- By Length: The report further provided the segmentation according to the length of the yacht: Below 20 meters, 20-50 meters, and Above 50 meters. The global above 50-meter yacht segment would grow at the highest CAGR during the forecasted year, owing to the increasing leisure trips and voyages taken by generation Z along with the growing preference to live a luxury life.
According to this report, the global yacht market is divided into five regions: Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. The countries covered in Europe region include Italy, Netherlands, Germany, UK, France, and Rest of Europe, while North America includes the US, Canada, and Mexico. Moreover, China, Japan, and the Rest of the Asia Pacific are included in the Asia Pacific region.
Europe dominated the market with largest share of the global market as it is one of the main destinations for marine culture, especially Northern Europe, which has a very rich ecosystem for yacht charter. Countries like Italy, Ireland, Scotland, Denmark, Sweden, Germany and Russia offer a variety of options to choose from including crewed yachts, luxury yachts and motor yachts. Moreover, Asia Pacific is expected to provide lucrative opportunities to the overall market during the forecast period, due to the rising popularity of recreational activities and increased marine tourism in nations such as Thailand, Malaysia, Singapore, China, Japan, and Australia.
Top Impacting Factors:
Growth Drivers
- Increase in the UHNWI (Ultra-high-net-worth individuals) Population
- Growing Demand for Luxury Tourism
- Rising Construction of Super Yachts
- Growing Number of Boat Shows
- High Investments and Upkeep Costs Associated with Yachts
- Cyclicality of the Yachting Industry
- Customization and Personalization
- Acute Focus on Eco-friendly and Sustainable Products
- The Internet Of Things
- Yachts Run Quieter due to Tech Advances
- Driver: Increase in the UHNWI (Ultra-high-net-worth individuals) Population
- Challenge: Cyclicality of the Yachting Industry
- Trend: Yachts Run Quieter due to Tech Advances
The COVID-19 Analysis:
The COVID-19 pandemic has adversely affected the yacht market in the first half of 2020. However, COVID-19 has changed the way target customers live. People tend to start spending more on leisure activities. This has increased the sale of both motor yachts and sailing yachts in the year 2021. Moreover, as the number of billionaires grows and COVID-19 has added to incentives for avoiding crowds, the multi-billion-dollar global yacht industry is rebounding fast after near-paralysis at the onset of the pandemic. On the other hand, the pandemic has prompted digitalization initiatives in the market.
Analysis of Key Players:
The global yacht market is moving toward consolidation. Following the 2008 financial crisis, some yacht companies went bankrupt (e.g. Aicon, Rodriguez, Royal Denship, etc.), others were rescued (e.g. Ferretti itself, Baglietto, Bavaria, Dalla Pietà, Perini) or decided to join forces together with other smaller shipyards and form a larger conglomerate (e.g., Tecnomar, Admiral, Cantieri Apuania combined as Italian Sea Group). As a matter of fact, it has been witnessed increasing concentration in the industry, with a declining number of shipyards and increasing number of orders, leading to a higher number of deliveries per shipyard. The key players of the global yacht market are:
- LVMH Moët Hennessy Louis Vuitton (Princess Yachts Ltd.)
- Sunseeker International Ltd.
- Ferretti Group
- Lurssen Yachts
- Sanlorenzo S.p.a
- Azimut Yachts
- HanseYachts AG
- Westport LLC
- Bilgin Yachts
- Alexander Marine Co., Ltd. & Subsidiaries
- The Italian Sea Group
- Oceanco
- Feadship Yachts
Table of Contents
159 Pages
- 1. Executive Summary
- 2. Introduction
- 2.1 Yacht: An Overview
- Table 1: Types of Yacht
- 2.2 Yacht Segmentation: An Overview
- Table 2: Yacht Segmentation
- 3. Global Market Analysis
- 3.1 Global Yacht Market: An Analysis
- 3.1.1 Global Yacht Market by Value
- Table 3: Global Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 4: Global Yacht Market by Value; 2022-2026 (US$ Billion)
- 3.1.2 Global Yacht Market by Propulsion (Outboard & Inflatables, Inboard, and Sailing)
- Table 5: Global Yacht Market by Propulsion; 2021 (Percentage, %)
- 3.1.3 Global Yacht Market by Type (Super Yacht, Sport Yacht, Flybridge Yacht, Long Range Yacht, and Others)
- Table 6: Global Yacht Market by Type; 2021 (Percentage, %)
- 3.1.4 Global Yacht Market by Length (20-50 meters, Above 50 meters, and Below 20 meters)
- Table 7: Global Yacht Market by Length; 2021 (Percentage, %)
- 3.1.5 Global Yacht Market by Region (Europe, North America, Asia Pacific, Latin America, and Middle East & Africa)
- Table 8: Global Yacht Market by Region; 2021 (Percentage, %)
- 3.2 Global Yacht Market: Propulsion Analysis
- 3.2.1 Global Outboard & Inflatables Yacht Market by Value
- Table 9: Global Outboard & Inflatables Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 10: Global Outboard & Inflatables Yacht Market by Value; 2022-2026 (US$ Billion)
- 3.2.2 Global Inboard Yacht Market by Value
- Table 11: Global Inboard Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 12: Global Inboard Yacht Market by Value; 2022-2026 (US$ Billion)
- 3.2.3 Global Inboard Yacht Market by Category (Composite, Made-to-measure, and Super)
- Table 13: Global Inboard Yacht Market by Category; 2021 (Percentage, %)
- 3.2.4 Global Composite Inboard Yacht Market by Value
- Table 14: Global Composite Inboard Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 15: Global Composite Inboard Yacht Market by Value; 2022-2026 (US$ Billion)
- 3.2.5 Global Made-to-Measure Inboard Yacht Market by Value
- Table 16: Global Made-to-Measure Inboard Yacht Market by Value; 2017-2021 (US$ Million)
- Table 17: Global Made-to-Measure Inboard Yacht Market by Value; 2022-2026 (US$ Billion)
- 3.2.6 Global Super Inboard Yacht Market by Value
- Table 18: Global Super Inboard Yacht Market by Value; 2017-2021 (US$ Million)
- Table 19: Global Super Inboard Yacht Market by Value; 2022-2026 (US$ Billion)
- 3.2.7 Global Inboard Yacht Market by Export
- Table 20: Global Inboard Yacht Market by Export; 2020 (US$ Million)
- 3.2.8 Global Sailing Yacht Market by Value
- Table 21: Global Sailing Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 22: Global Sailing Yacht Market by Value; 2022-2026 (US$ Billion)
- 3.3 Global Yacht Market: Type Analysis
- 3.3.1 Global Super Yacht Market by Value
- Table 23: Global Super Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 24: Global Super Yacht Market by Value; 2022-2026 (US$ Billion)
- 3.3.2 Global Sport Yacht Market by Value
- Table 25: Global Sport Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 26: Global Sport Yacht Market by Value; 2022-2026 (US$ Billion)
- 3.3.3 Global Flybridge Yacht Market by Value
- Table 27: Global Flybridge Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 28: Global Flybridge Yacht Market by Value; 2022-2026 (US$ Billion)
- 3.3.4 Global Long Range Yacht Market by Value
- Table 29: Global Long Range Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 30: Global Long Range Yacht Market by Value; 2022-2026 (US$ Billion)
- 3.3.5 Global Others Yacht Market by Value
- Table 31: Global Others Yacht Market by Value; 2017-2021 (US$ Million)
- Table 32: Global Others Yacht Market by Value; 2022-2026 (US$ Million)
- 3.4 Global Yacht Market: Length Analysis
- 3.4.1 Global 20-50 Meter Yacht Market by Value
- Table 33: Global 20-50 Meter Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 34: Global 20-50 Meter Yacht Market by Value; 2022-2026 (US$ Billion)
- 3.4.2 Global Above 50 Meter Yacht Market by Value
- Table 35: Global Above 50 Meter Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 36: Global Above 50 Meter Yacht Market by Value; 2022-2026 (US$ Billion)
- 3.4.3 Global Below 20 Meter Yacht Market by Value
- Table 37: Global Below 20 Meter Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 38: Global Below 20 Meter Yacht Market by Value; 2022-2026 (US$ Billion)
- 3.5 Global Super Yacht Market: An Analysis
- 3.5.1 Global Super Yacht Operational Fleet 30m+ by Length and Hull Material by Total Operational Fleet
- Table 39: Global Super Yacht Operational Fleet 30m+ by Length and Hull Material by Total Operational Fleet; 2021
- 4. Regional Market Analysis
- 4.1 Europe Yacht Market: An Analysis
- 4.1.1 Europe Yacht Market by Value
- Table 40: Europe Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 41: Europe Yacht Market by Value; 2022-2026 (US$ Billion)
- 4.1.2 Europe Yacht Market by Region (Italy, Netherlands, Germany, UK, France, and Rest of Europe)
- Table 42: Europe Yacht Market by Region; 2021 (Percentage, %)
- 4.1.3 Italy Yacht Market by Value
- Table 43: Italy Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 44: Italy Yacht Market by Value; 2022-2026 (US$ Billion)
- 4.1.4 Netherlands Yacht Market by Value
- Table 45: Netherlands Yacht Market by Value; 2017-2021 (US$ Million)
- Table 46: Netherlands Yacht Market by Value; 2022-2026 (US$ Million)
- 4.1.5 Germany Yacht Market by Value
- Table 47: Germany Yacht Market by Value; 2017-2021 (US$ Million)
- Table 48: Germany Yacht Market by Value; 2022-2026 (US$ Million)
- 4.1.6 The UK Yacht Market by Value
- Table 49: The UK Yacht Market by Value; 2017-2021 (US$ Million)
- Table 50: The UK Yacht Market by Value; 2022-2026 (US$ Million)
- 4.1.7 France Yacht Market by Value
- Table 51: France Yacht Market by Value; 2017-2021 (US$ Million)
- Table 52: France Yacht Market by Value; 2022-2026 (US$ Million)
- 4.1.8 Rest of Europe Yacht Market by Value
- Table 53: Rest of Europe Yacht Market by Value; 2017-2021 (US$ Million)
- Table 54: Rest of Europe Yacht Market by Value; 2022-2026 (US$ Million)
- 4.2 North America Yacht Market: An Analysis
- 4.2.1 North America Yacht Market by Value
- Table 55: North America Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 56: North America Yacht Market by Value; 2022-2026 (US$ Billion)
- 4.2.2 North America Yacht Market by Region (The US and Canada)
- Table 57: North America Yacht Market by Region; 2021 (Percentage, %)
- 4.2.3 The US Yacht Market by Value
- Table 58: The US Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 59: The US Yacht Market by Value; 2022-2026 (US$ Billion)
- 4.2.4 The US Yacht Market by Type (Super Yacht, Sports Yacht, Flybridge Yacht, Long Range Yacht, and Others)
- Table 60: The US Yacht Market by Type; 2021 (Percentage, %)
- 4.2.5 The US Super Yacht Market by Value
- Table 61: The US Super Yacht Market by Value; 2017-2021 (US$ Million)
- Table 62: The US Super Yacht Market by Value; 2022-2026 (US$ Billion)
- 4.2.6 The US Sport Yacht Market by Value
- Table 63: The US Sport Yacht Market by Value; 2017-2021 (US$ Million)
- Table 64: The US Sport Yacht Market by Value; 2022-2026 (US$ Billion)
- 4.2.7 The US Flybridge Yacht Market by Value
- Table 65: The US Flybridge Yacht Market by Value; 2017-2021 (US$ Million)
- Table 66: The US Flybridge Yacht Market by Value; 2022-2026 (US$ Million)
- 4.2.8 The US Long Range Yacht Market by Value
- Table 67: The US Long Range Yacht Market by Value; 2017-2021 (US$ Million)
- Table 68: The US Long Range Yacht Market by Value; 2022-2026 (US$ Million)
- 4.2.9 The US Others Yacht Market by Value
- Table 69: The US Others Yacht Market by Value; 2017-2021 (US$ Million)
- Table 70: The US Others Yacht Market by Value; 2022-2026 (US$ Million)
- 4.2.10 Canada Yacht Market by Value
- Table 71: Canada Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 72: Canada Yacht Market by Value; 2022-2026 (US$ Billion)
- 4.3 Asia Pacific Yacht Market: An Analysis
- 4.3.1 Asia Pacific Yacht Market by Value
- Table 73: Asia Pacific Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 74: Asia Pacific Yacht Market by Value; 2022-2026 (US$ Billion)
- 4.3.2 Asia Pacific Yacht Market by Region (China, Japan, and the Rest of the Asia Pacific)
- Table 75: Asia Pacific Yacht Market by Region; 2021 (Percentage, %)
- 4.3.3 China Yacht Market by Value
- Table 76: China Yacht Market by Value; 2017-2021 (US$ Billion)
- Table 77: China Yacht Market by Value; 2022-2026 (US$ Billion)
- 4.3.4 Japan Yacht Market by Value
- Table 78: Japan Yacht Market by Value; 2017-2021 (US$ Million)
- Table 79: Japan Yacht Market by Value; 2022-2026 (US$ Million)
- 4.3.5 Rest of Asia Pacific Yacht Market by Value
- Table 80: Rest of Asia Pacific Yacht Market by Value; 2017-2021 (US$ Million)
- Table 81: Rest of Asia Pacific Yacht Market by Value; 2022-2026 (US$ Million)
- 4.4 Latin America Yacht Market: An Analysis
- 4.4.1 Latin America Yacht Market by Value
- Table 82: Latin America Yacht Market by Value; 2017-2021 (US$ Million)
- Table 83: Latin America Yacht Market by Value; 2022-2026 (US$ Million)
- 4.5 Middle East & Africa Yacht Market: An Analysis
- 4.5.1 Middle East & Africa Yacht Market by Value
- Table 84: Middle East & Africa Yacht Market by Value; 2017-2021 (US$ Million)
- Table 85: Middle East & Africa Yacht Market by Value; 2022-2026 (US$ Million)
- 5. Impact of COVID-19
- 5.1 Impact of COVID-19 on Yacht Market
- 5.2 Impact of COVID-19 on Superyacht Sales
- Table 86: Global New Superyacht Sales From 30 Meters Up, 2019-2021
- 5.3 Post COVID-19 Impact on Yacht Market
- 6. Market Dynamics
- 6.1 Growth Drivers
- 6.1.1 Increase in the UHNWI (Ultra-high-net-worth individuals) Population
- Table 87: Global Number of UHNWIs; 2020-2025 (Thousand)
- 6.1.2 Growing Demand for Luxury Tourism
- Table 88: Global Luxury Tourism Revenue by Region; 2020-2024 (US$ Billion)
- 6.1.3 Rising Construction of Super Yachts
- Table 89: Global Superyacht Construction Book by Country; 2021-2022
- 6.1.4 Growing Number of Boat Shows
- 6.1.5 Favorable Government Initiatives
- 6.1.6 Increasing Demand of Yacht Charter
- 6.2 Challenges
- 6.2.1 High Investments and Upkeep Costs Associated with Yachts
- 6.2.2 Cyclicality of the Yachting Industry
- 6.3 Market Trends
- 6.3.1 Customization and Personalization
- 6.3.2 Acute Focus on Eco-friendly and Sustainable Products
- 6.3.3 The Internet Of Things
- 6.3.4 Yachts Run Quieter due to Tech Advances
- 6.3.5 Explorer Yachts are Continuing to Rise in Popularity
- 7. Competitive Landscape
- 7.1 Global Yacht Players by Market Share
- Table 90: Global Yacht Players by Market Share; 2021 (Percentage, %)
- 7.2 Global Yacht Players Market Share by Segment
- Table 91: Top 5 Global Yacht Market Players’ Aggregated Market Share By Segment and Estimated Number of Players; 2021 (Percentage, %)
- 7.3 Global Yacht Market Players by Yacht Length
- Table 92: Global Yacht Market Players by Yacht Length
- 7.4 Global Yacht Market Players by Number of Projects
- Table 93: Global Yacht Market Players by Total Length and Number of Projects; 2021
- 7.5 Global Yacht Market Players by Merger & Acquisition
- Table 94: Global Yacht Market Players by Merger & Acquisition; 2017-2021
- 8. Company Profiles
- 8.1 HanseYachts AG
- 8.1.1 Business Overview
- 8.1.2 Operating Segment
- Table 95: HanseYachts AG Revenues by Segment; 2021 (Percentage, %)
- 8.1.3 Business Strategy
- 8.2 LVMH Moët Hennessy Louis Vuitton (Princess Yachts Ltd.)
- 8.2.1 Business Overview
- 8.2.2 Operating Business Group
- Table 96: LVMH Revenue by Operating Business Group; 2021 (Percentage, %)
- 8.2.3 Business Strategy
- 8.3 Sanlorenzo S.p.a
- 8.3.1 Business Overview
- 8.3.2 Net Revenues New Yachts by Division
- Table 97: Sanlorenzo S.p.a Net Revenues New Yachts by Division; 2021 (Percentage, %)
- 8.3.3 Business Strategy
- 8.4 Ferretti Group
- 8.4.1 Business Overview
- 8.4.2 Net Revenue by Production Type
- Table 98: Ferretti Group Net Revenue by Production Type; 2021 (Percentage, %)
- 8.4.3 Business Strategy
- 8.5 Azimut Yachts
- 8.5.1 Business Overview
- 8.5.2 Business Strategy
- 8.6 Sunseeker International Ltd.
- 8.6.1 Business Overview
- 8.6.2 Business Strategy
- 8.7 Westport LLC
- 8.7.1 Business Overview
- 8.7.2 Business Strategy
- 8.8 Lurssen Yachts
- 8.8.1 Business Overview
- 8.8.2 Business Strategy
- 8.9 Alexander Marine Co., Ltd. & Subsidiaries
- 8.9.1 Business Overview
- 8.9.2 Business Strategy
- 8.10 Feadship Yachts
- 8.10.1 Business Overview
- 8.10.2 Business Strategy
- 8.11 Bilgin Yachts
- 8.11.1 Business Overview
- 8.11.2 Business Strategy
- 8.12 Oceanco
- 8.12.1 Business Overview
- 8.12.2 Business Strategy
- 8.13 The Italian Sea Group
- 8.13.1 Business Overview
- 8.13.2 Business Strategy
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.