According to the latest report by IMARC Group, titled "Luxury Yacht Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026", the global luxury yacht market exhibited moderate growth during 2015-2020 and is expected to grow at a CAGR of around 9% during 2021-2026.
A luxury yacht is a crewed sailing watercraft, primarily used for recreational activities and sports. It is operated through wind sailing or by a propulsion system, including internal combustion engine and gas turbine. Luxury yachts are manufactured using various materials, such as steel, aluminum, fiberglass, wood, carbon fiber, treated wood, etc. They are generally charted or rented by private entities and accommodated with sophisticated, luxurious, and personalized facilities, such as a jacuzzi spa, gymnasium, sauna, and sun pads. Luxury yachts are also equipped with technologically advanced components to enhance the overall performance of the yacht.
Rapid urbanization, coupled with significant growth in the recreational tourism sector, is primarily driving the luxury yacht market growth. Furthermore, luxury yachts are provided on lease by yacht fleet operators for organizing business meetings, recreational activities and events, thereby propelling the global market. Additionally, the wide utilization of innovative construction materials, along with the growing adoption of customized solutions to fulfill the specific needs of the customer, is also augmenting the market growth. The rising environmental concerns are catalyzing the demand for fuel-efficient and lightweight product variants, which are further expected to drive the market for luxury yachts in the coming years.
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Luxury Yacht Market 2021-2026 Competitive Analysis and Segmentation:
The competitive landscape of the luxury yacht market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Horizon Yacht USA
- Palumbo Group S.P.A
- Princess Yachts Limited
- Sanlorenzo S.p.A.
- Alexander Marine International
- Azimut - Benetti S.P.A.
- Brunswick Corporation
- Heesen Yachts Sales B.V
- Sunseeker International (Wanda Group)
- Viking Yacht Company
- Feadship Holland B.V.
- Fincantieri S.p.A. (CDP Industria S.p.A.)
The report has segmented the global luxury yacht market on the basis of type, size, material, application and region.
Breakup by Type:
- Sailing Luxury Yacht
- Motorized Luxury Yacht
Breakup by Size:
- 75-120 Feet
- 121-250 Feet
- Above 250 Feet
Breakup by Material:
- FRP/ Composites
- Metal/ Alloys
Breakup by Application:
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Explore report description with table of contents: https://www.imarcgroup.com/luxury-yacht-market
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Drivers and Success Factors
- Market Trends
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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30 N Gould St, Ste R
Sheridan, WY 82801, USA
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800