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Superyacht Market Size, Share, Competitive Landscape and Trend Analysis Report, by Size, by Application, by Propulsion : Global Opportunity Analysis and Industry Forecast, 2023-2032

AT : Electric and Hybrid Vehicles

Report Code: A11376

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Superyacht Market Outlook, 2032

The global Superyacht Market size was esteemed at $ 10,293.3 million in 2022 and is estimated to reach $ 25,677.2 million by 2032, exhibiting a CAGR of 9.8% from 2023 to 2032.

Report Key Highlighters:

The superyacht market study covers 14 countries. The research includes regional and segment analysis of each country in terms of value ($million) for the projected period 2023-2032.

The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.

Over 3,700 product literature, annual reports, industry statements, and other comparable materials from major industry participants were reviewed to gain a better understanding of the market.

The superyacht market share is slightly fragmented, into several players including Damen Yachting BV, Azimut Benetti Group S.p.A., Burgess, THE ITALIAN SEA GROUP S.p.A., Ferretti SpA, Horizon Yacht USA, Ocean Alexander Yachts, Inc., Overmarine, San Lorenzo and Sunseeker. The companies have adopted strategies such as expansion, product launch, product development and others to improve their market positioning.

Superyacht refers to a luxurious large yacht of over 30m in length. Such vessels have a high-end recreational purpose which is mostly owned by ultra-high net-worth individuals. Superyachts differ considerably both in size, design, luxury accessories, and the highest quality of workmanship. Superyachts come with numerous accessories, which include many decks, pools, helipad, Jacuzzi, gym, among others. These ships normally have a well-trained crew such as a captain, other officers, chef and so many other servants who provide quality services and comfort to the proprietor and their guest.

The growth of the global superyacht market is determined by the growing wealth of ultra-high net-worth persons, the rise as a prominent destination for luxury yachts, and increasing tourist attractions and luxurious hotels that are anticipated to drive the market. However, factors such as environmental concerns related to fuel consumption and emissions and retaining qualified and experienced crew members restrain market growth. On the contrary, the growing demand for electric yachts and customization in luxury yachts are expected to provide lucrative growth opportunities for the market growth.

Increased consumption in emerging economies has led to rapid expansion of the demand for high-end products such as superyachts. Furthermore, technological and design improvements have led to state-of-the-art and high-end boats which favour the marine economy. In addition, the rise of the experiential luxury trend among high-end clients has also contributed to an increase in demand for yachts, since they are the embodiment of the highest level of luxury and privacy. Additionally, global tourism is gravitating toward individual tours of upscale nature, and a trip aboard a superyacht is one such rare experience for discovering the wonders of this planet. Also, governments in different places acknowledge the economic opportunity of the superyacht sector and make the necessary provisions including the latest marinas for yachts and yacht-friendly rules.

In addition, yacht exhibitions and events have a huge impact on brand building and improving a company's reputation in the superyacht industry. A brand's participation in prestigious events strengthens its exclusivity and credibility, as well as its position as a dominant force in the industry. Manufacturers who regularly participate in prestigious events demonstrate their commitment to innovation and perfection, which increases the attractiveness of their products and gives hope to potential consumers. Collaboration between superyacht manufacturers and other luxury companies is also facilitated through yacht shows and events. By collaborating with world-class watchmakers, fashion designers, interior designers, and car manufacturers, exclusive and bespoke boating projects are realized, captivating customers seeking a seamless integration of luxury experiences.

The Europe superyacht industry is the rapid urbanization observed in many countries. In countries like Italy, UK, Spain, Germany. The industry is witnessing a surge in the popularity of sustainable and eco-friendly yachting, aligning with the region's strong emphasis on environmental conservation. In addition, manufacturers in the European region are now venturing into sustainable development and have increased their efforts to produce environment-friendly yachts. For instance, in January 2022, Pascoe International announced the sale of the world's first 100% electric superyacht limousine tender. Additionally, the company has confirmed the new tender is now under construction. The vessel, which is under construction at a major Northern European shipyard is set for delivery to a large newly built mothership in 2023. As Europe remains a hub for high-net-worth individuals and luxury travel, the superyacht industry statistics in the region is well-positioned for sustained growth and continued prominence on the global stage.

Maritime history, high skill craftsmanship, as well as modern designing, made Italy a desirable place for yacht owners with good taste. This development arises from the combination of ancient handicraft, along with contemporary technology. However, Italian shipyards have always supplied elegant yet ultra-modern vessels of high quality. Additionally, having a good port and a central location that strategically places Italy in a position to supply the fast growing external markets. The country's commitment to research and development, coupled with its emphasis on fostering international collaborations, further enhances its competitive edge.

For instance, in February 2023, The Italian Sea Group (TISG) and legendary Italian fashion designer Giorgio Armani revealed their 72-metre superyacht collaboration, currently in build, at a star-studded gala evening at the shipyardâ headquarters at Marina di Carrara. The interior is by Armani/Casa and uses a soft and minimalist palette that contrasts the use of refined materials and hand-crafted finishes. The first interior renderings show polished marble floors with gold accents and occasional use of dark wood. 

Key Developments

The leading companies are adopting strategies such as acquisition, agreement, expansion, partnership, contracts, product launches and other to strengthen their market position.

In July 2023 , Damen Yachting launched fourth Amels 60 superyachts. The 60m, 830 GT Amels 60 superyacht features an exterior design by Espen oino, naval architecture by Damen Yachting and a custom interior by two collaborating studios, Studio Indigo and Pure Living. It offers six staterooms for up to 12 guests.

• In November 2022 , Damen Yachting expanded its service in Gorinchem yard that includes additional repair facilities and a 150-tonne ship lift. The group intend on the updated shipyard in Gorinchem being an optimal location for the design, maintenance, repair, conversion and building of new ships of up to 90 metres, whilst their Hardinxveld-Giessendam yard divested before the project’s completion.
• In June 2021 , SANLORENZO developed 44 metre superyacht model named the X-Space. The X-Space features a 495GT interior and is designed specifically around privacy, with the upper deck dedicated to the owner. This deck includes a private apartment, study, living room and large master cabin. 
• In March 2020 , Ferretti SpA launched Ferretti 1000 yachts; the first model hit the water from Ferretti Yachts' Cattolica-based facility in Italy.
• In Mach 2020 , SANLORENZO launched SX112 crossover yacht and the 44Alloy and 62Steel superyachts. SX112 comes with 34m length & flagship SX crossover line that proposes a new way of living on the sea: the barriers on board are eliminated, and the boat opens to the outside, in a close relationship with the marine context.

Growth in the Nautical Tourism Industry

Nautical tourism is a specialized form of tourism that involves recreational activities and travel undertaken on water. It encompasses a wide range of activities and destinations related to boating, sailing, yachting, cruising, and other maritime experiences. Yachting along coastal locations is slowly becoming popular across various countries. Nautical tourism, characterized by the exploration of coastal and maritime destinations using luxury vessels, has become a driving force behind the increased demand for superyachts. High-net-worth individuals are increasingly drawn to the allure of unique and exclusive travel experiences, seeking the freedom to explore picturesque coastlines, hidden coves, and exotic island destinations in unparalleled luxury.

Superyachts, equipped with state-of-the-art amenities and crewed by skilled professionals, provide an ideal platform for travelers to indulge in tailor-made itineraries, exploring pristine coastlines and hidden gems inaccessible to conventional forms of transportation. As the allure of nautical tourism continues to captivate the elite global traveler, the demand for superyachts is set to flourish, making them not only vessels of luxury but also essential conduits for a bespoke and unforgettable maritime tourism experience.

Rising Global Wealth

There arises an affluent class of people with huge net worth who tend to find unique yet extravagant ways of expressing their wealth as the economies continue sprawling across different places and income gaps narrow down. For example, the same report by Henley & Partners (2022) reveals that the number of what they call centi-millionaires increased to 28,420 globally (up by 12% since the last year), which is the wealth that is now evident in places like Asia, Middle East and developing countries, in general, has led to increased demand for Superyacht. These vessels, often considered the ultimate status symbols, appeal to individuals who desire not only a means of luxurious travel but also a tangible representation of their success and lifestyle.

The superyacht market benefits from the discretionary spending of this affluent demographic, as these individuals seek exclusive and tailor-made experiences that go beyond conventional travel. The desire to stand out in a crowd, coupled with the appeal of owning a floating sanctuary equipped with the latest technological innovations and lavish amenities, aligns perfectly with the aspirations of the newly wealthy.

High price and maintenance cost

The purchase of a super yacht is typically very expensive, sometimes costing well over one hundred million dollars, making it a privilege reserved mainly for the extremely rich. The high costs involved in buying it serves as a form of barrier into the industry. In addition, the ongoing maintenance costs, encompassing crew salaries, fuel, insurance, dockage fees, and regular repairs, contribute significantly to the total cost of ownership. For instance, 10-15% of the purchase price annually on operating and maintaining a yacht. That's $1-1.5 million a year for a $10 million yacht. Also, routine maintenance can cost roughly 2% of the yacht's value after the yacht's first year, and around 7.5% of the yacht's value when the yacht is 10 years old. Thus, such financial burden can dissuade even affluent individuals from venturing into the superyacht market, as the associated expenses extend far beyond the initial purchase.

The combination of high acquisition costs and the ongoing financial commitments for operation and maintenance can limit the potential customer base, hindering the market's broader growth. Efforts to mitigate these challenges often involve innovations in financing models, shared ownership structures, and the development of more cost-effective operational practices to make superyacht ownership more accessible and sustainable for a wider audience.

Increase in technological advancements and design

The integration of cutting-edge technology has become a hallmark of superyacht design, with a focus on enhancing both the onboard experience and the overall performance of these vessels. Advanced navigation systems, satellite communication, and automation technologies contribute to safer and more efficient maritime travel, while smart home automation systems cater to the desires of owners for seamless control of onboard amenities. For instance, in September 2023, in Botany, New South Wales, UTS Tech Lab, facility will scale up the manufacturing of Advanced Navigationa™ world-first AI navigation systems for GPS-denied environments, including its digital fibre-optic gyroscope (DFOG) technology, Boreas.

Furthermore, superyacht designers are pushing the boundaries of creativity, creating vessels that not only exude elegance but also maximize space and utility. Open and flexible layouts, large windows, and innovative use of materials contribute to a sense of openness and connection with the sea. Moreover, there is a growing emphasis on sustainability in design, with the integration of eco-friendly materials, energy-efficient systems, and even hybrid propulsion technologies. This reflects an industry-wide commitment to environmental responsibility, addressing the concerns of both owners and the broader public.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the superyacht market analysis from 2022 to 2032 to identify the prevailing superyacht market opportunities.

The market research is offered along with information related to key drivers, restraints, and opportunities.

Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.

Major countries in each region are mapped according to their revenue contribution to the global market.

Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

The report includes the analysis of the regional as well as global market trends, key players, market segments, application areas, and market growth strategies.

  Superyacht Market Report Highlights

	USD 25.7 billion
	CAGR of 9.8%
	2022 - 2032
	280
	(U.S., Canada, Mexico)   (Italy, Germany, Spain, UK, Rest of Europe)   (China, Japan, India, South Korea, Rest of Asia-Pacific)   (Latin America, Middle East, Africa)
	THE ITALIAN SEA GROUP SpA, Damen Yachting, SANLORENZO, Sunseeker, Burgess, Ferretti SpA, Horizon Yacht USA, Overmarine Group Spa, Azimut Benetti, Ocean Alexander

• Luxury Yacht Charter
• Yachts Chartering
• Yacht Rental
• Yacht Charter For Vacation
• Sailing Yacht Charter
• Electric Yacht
• Hydrogen Fuel Cell Yacht

The global superyacht market size was esteemed at $ 10,293.3 million in 2022 and is estimated to reach $ 25,677.2 million by 2032, exhibiting a CAGR of 9.8% from 2023 to 2032.

Rising global wealth and rising demand for sailing activities are Upcoming Trends of Superyacht Market

Motor Superyachts is the leading application of the Superyacht Market

Europe is the largest regional market for Superyacht.

Damen Yachting BV, Azimut Benetti Group S.p.A., Burgess, THE ITALIAN SEA GROUP S.p.A., Ferretti SpA, Horizon Yacht USA, Ocean Alexander Yachts, Inc., Overmarine, San Lorenzo and Sunseeker.

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Superyacht Market

Global Opportunity Analysis and Industry Forecast, 2023-2032

• Global Market Outlook
• In-depth analysis of global and regional trends
• Analyze and identify the major players in the market, their market share, key developments, etc.
• To understand the capability of the major players based on products offered, financials, and strategies.
• Identify disrupting products, companies, and trends.
• To identify opportunities in the market.
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Superyacht Market Research Report By Hull Type (Semi-Displacement, Displacement, Planing, Catamaran, Trimaran), By Size (Below 30 Meters, 30-50 Meters, 50-70 Meters, 70-100 Meters, Above 100 Meters), By Propulsion Type (Diesel, Diesel-Electric, Fully Electric, Hybrid), By Interior Design Style (Modern, Classic, Contemporary, Art Deco, Mediterranean) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

• Segmentation
• Table of Content
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Superyacht Market Overview

As per MRFR analysis, the Superyacht Market Size was estimated at 15.26  USD Billion in 2022.The Superyacht Market Industry is expected to grow from 16.09 USD Billion in 2023 to 26.0 USD Billion by 2032. The Superyacht Market CAGR (growth rate) is expected to be around 5.48% during the forecast period (2024 - 2032).

Key market drivers for the superyacht industry include the growing wealth of ultra-high-net-worth individuals, rising demand for luxury experiences, and advancements in technology that enhance the onboard experience.Opportunities for market growth lie in expanding into emerging markets with high concentrations of potential buyers, developing innovative designs and amenities that appeal to evolving customer preferences, and implementing sustainable practices to meet environmental concerns.

Recent market trends indicate a preference for larger superyachts with amenities such as helicopter landing pads, swimming pools, and state-of-the-art entertainment systems. Sustainability initiatives are also gaining traction, with increasing demand for hybrid and electric propulsion systems and the use of eco-friendly materials in construction. Customization and personalization are becoming more prevalent as owners seek to create unique vessels that reflect their individual tastes and lifestyles.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Superyacht Market Drivers

Increasing demand for luxury experiences.

The driving force behind the development of the superyacht market is the rise of demand for luxury experiences by high-net-worth individuals. While a variety of vehicles give an opportunity to travel, superyachts offer a combination of luxury, privacy, and exclusivity, which high-net-worth individuals are likely to enjoy and appreciate to a greater extent. In their pursuit of opportunities to upgrade their experiences and enjoy increasingly personalized and customized tours, high-net-worth individuals are likely to create an increasing demand for superyachts in the years to come.In addition, in the context of the rising share of charter services in the sector of superyachting, it has become increasingly available for an increasing number of travelers around the globe, thus boosting market development globally. In addition, the development of the yachting industry as a part of the concern with tourism has boosted the International Superyacht Market Industry, and it is likely to expand in the coming years.

Technological Advancements

Technological changes serve as a determining factor that brings a particular impact on the development of the phenomenon identified. In this connection, such influence is observed in the Superyacht Market Industry, as it is affected in numerous ways by the advancement of technologies. The introduction of new navigational systems for superyachts, the appearance of automated systems controlling various aspects of the vessel, and an alternative type of engine are some of the examples to be considered.Subsequently, these innovations improve the practice of yachting, make it more comfortable, and make it more scenic in the context of the environment while attracting people interested in technology to a greater extent. A similar tendency will contribute to the growth of this market in the future.

Expanding Presence in Emerging Markets

Besides, the fact that high-net-worth individuals from many yacht manufacturers have originated in these regions also contributes to the growth of the superyacht market industry. To cater to requests from Asian and Middle Eastern superyacht owners interested in chartering a vessel, new yacht clubs and marinas have been developed as well, supporting the expansion of the market industry in the two emerging regions.

Superyacht Market Segment Insights

Superyacht market hull type insights.

Hull type is an essential factor influencing the performance and features of superyachts. The market comprises several types of hulls, such as Semi-Displacement, Displacement, Planing, Catamaran, and Trimaran. Semi-Displacement hulls offer a balance between speed and comfort, which makes them suitable for extensive cruising and offshore voyages. The combination of the stability of displacement hulls with the efficiency of planing hulls provides a better speed advantage with decreased fuel consumption. On the other hand, Displacement hulls are necessarily designed for stability and comfort; hence, they provide a smoother ride.Displacement hulls are utilized for luxury yachts and long-range cruising. Slower in comparison to other types, the hulls offer better fuel efficiency, stability, and substantial space for interiors. Planing hulls are specifically engineered for speed and optimum performance, which allows superyachts to gain significantly higher speeds of a maximum of 30+ knots along with improved maneuverability. 

Design is commonly used for racing and performance-oriented yachts to provide an exceptionally thrilling and sporty cruising experience. In comparison with monohull resistance, other types provide superior stability and increased interior space.Catamaran superyachts include two parallel hulls joined with a bridge deck, covering larger deck space and living area. Trimarans have three hulls, which reduce potential resistance and offer even more velocity and stability. The choice of hull type depends on the intended use and user preferences. Semi-Displacement and Displacement hulls are effective for cruising and extensive voyages, while Planing, Catamaran, and Trimaran hulls satisfy speed enthusiasts and people who favor larger and more stable platforms.

Superyacht Market Size Insights

The market growth is driven by increasing demand for luxury travel experiences, rising disposable income among high-net-worth individuals, and technological advancements in yacht design and construction. In terms of size segmentation, the market is divided into five categories Below 30 Meters, 30-50 Meters, 50-70 Meters, 70-100 Meters, and Above 100 Meters. The 30-50 Meters segment accounted for the largest share of the market in 2023 and is expected to continue its dominance throughout the forecast period. This is primarily attributed to the popularity of these yachts as recreational vessels for family vacations and short cruises.The Above 100 Meters segment, on the other hand, is expected to witness the fastest growth during the forecast period, owing to the increasing demand for ultra-luxury yachts among billionaires and celebrities.

Superyacht Market Propulsion Type Insights

The propulsion type segment plays a crucial role in defining the performance and efficiency of superyachts. Diesel propulsion remains the most prevalent type, favored for its reliability, cost-effectiveness, and long range. Diesel-electric propulsion systems combine diesel engines with electric motors, offering improved fuel efficiency and maneuverability. Fully electric superyachts, while still a niche segment, are gaining traction driven by advancements in battery technology and environmental concerns. Hybrid propulsion systems, combining diesel engines with electric motors , provide a balance between performance and efficiency.In 2023, the Superyacht Market revenue for Diesel propulsion type was valued at 7.89 Billion USD, while Diesel-Electric propulsion accounted for 4.02 Billion USD. The Fully Electric and Hybrid propulsion segments are projected to experience significant growth in the coming years due to increasing demand for sustainable and efficient solutions.

Superyacht Market Interior Design Style Insights

The Superyacht Market revenue is expected to grow at a CAGR of 5.48% from 2023 to 2032, reaching USD 26.0 billion by 2032. Interior Design Style is a key segmentation factor in the Superyacht Market. Modern interior design style is the most popular choice for superyachts, with a market share of over 50% in 2023. Classic interior design style is the second most popular choice, with a market share of around 25%. Contemporary, Art Deco, and Mediterranean interior design styles are also popular choices for superyachts. The choice of interior design style for a superyacht depends on the owner's personal preferences and the intended use of the vessel.

Superyacht Market Regional Insights

The Superyacht Market segmentation by region offers insights into key regions such as North America, Europe, APAC, South America, and MEA. In 2023, North America dominated the Superyacht Market revenue with a market share of around 35.4%, followed by Europe with a 29.1% share. APAC region is expected to witness significant market growth over the forecast period, with a projected CAGR of 6.2% from 2024 to 2032. The growth in APAC is attributed to the increasing number of high-net-worth individuals and the growing popularity of yachting as a leisure activity.South America and MEA are also expected to contribute to the Superyacht Market growth, with rising demand for luxury yachts from emerging economies.

Superyacht Market Key Players And Competitive Insights

The Superyacht Market industry’s major players are always in the process of devising strategies to outshine one another and increase their market share. These strategies may include product innovation, partnerships, and geographical expansion, among others. As a result, the Superyacht Market Competitive Landscape is characterized by high-level competition between established players and newcomers.

One of the major players in the Superyacht Market is Oceanco, a Dutch company that produces yachts with high-custom build. This company is known for using innovative solutions in the design and construction of their yachts. Among the most iconic Oceanco yachts are the approximately 106m BLACK PEARL, which is said to be the largest DynaRig sailing yacht in the world, and the approximately 90 m long NIRVANA.

Another key player operating in the Superyacht Market is Lurssen – a German shipyard rich in history and famous for its exceptional performance. Lurssen offers a wide range of yachts, from classic to modern and advanced ones. Another outstanding market player is Benetti – an Italian shipyard that claims itself to be an icon of luxury yacht building. The company is known for its long-established history and traditions, as it has been in the market for more than 140 years. Benetti produces super custom and semi-custom yachts that are a perfect blend of Italian ars antiqua and innovative technology.

Key Companies in the Superyacht Market Include

• Azimut Yachts
• Sunseeker Yachts
• Riva Yachts
• Heesen Yachts
• Viking Yachts
• Ferretti Yachts
• Princess Yachts
• Lurssen Yachts

Superyacht Market Segmentation Insights

Superyacht market hull type outlook.

• Semi-Displacement
• Displacement

Superyacht Market Size Outlook

• Below 30 Meters
• 30-50 Meters
• 50-70 Meters
• 70-100 Meters
• Above 100 Meters

Superyacht Market Propulsion Type Outlook

• Diesel-Electric
• Fully Electric

Superyacht Market Interior Design Style Outlook

• Contemporary
• Mediterranean

Superyacht Market Regional Outlook

• North America
• South America
• Asia Pacific
• Middle East and Africa

Report Attribute/Metric	Details
Market Size 2022	15.26(USD Billion)
Market Size 2023	16.09(USD Billion)
Market Size 2032	26.0(USD Billion)
Compound Annual Growth Rate (CAGR)	5.48% (2024 - 2032)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year	2023
Market Forecast Period	2024 - 2032
Historical Data	2019 - 2023
Market Forecast Units	USD Billion
Key Companies Profiled	Benetti, Azimut Yachts, Sunseeker Yachts, Feadship, Riva Yachts, Baglietto, Heesen Yachts, Viking Yachts, Ferretti Yachts, Sanlorenzo, Oceanco, Princess Yachts, Lurssen Yachts
Segments Covered	Hull Type, Size, Propulsion Type, Interior Design Style, Regional
Key Market Opportunities	Growing demand for luxury experiences Expansion into emerging markets Innovation in yacht design and technology Sustainable yachting practices Private ownership of superyachts
Key Market Dynamics	Rising Demand for Luxury Experiences Technological Advancements Growing HighNetWorth Individuals Environmental Regulations
Countries Covered	North America, Europe, APAC, South America, MEA

Frequently Asked Questions (FAQ) :

16.09 billion USD

Luxury travel, entertainment, and business

Lrssen, Feadship, Oceanco, Benetti, and Sanlorenzo

Increasing demand for luxury goods, rising number of high-net-worth individuals, and growing popularity of superyachts as investment assets

Volatile economic conditions, environmental concerns, and competition from other luxury goods

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• Luxury Yacht Market

"Market Intelligence for High-Geared Performance"

Luxury Yacht Market Size, Share & Industry Analysis, By Type (Motor Yachts and Sailing Yachts), By Size (Upto 50 Meters, 50 to 100 Meters, and More than 100 Meters), By Application (Personal use and Commercial use), and Regional Forecast, 2024-2032

Last Updated: September 02, 2024 | Format: PDF | Report ID: FBI105396

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KEY MARKET INSIGHTS

The global luxury yacht market size was valued at USD 7.67 billion in 2023. The market is projected to grow from USD 8.75 billion in 2024 to USD 17.33 billion by 2032, exhibiting a CAGR of 8.9% during the forecast period.

A luxury yacht is a high-end recreational vehicle offering exclusive and luxurious amenities along with accommodation. These vessels are loaded with the most advanced features for their users. Luxurious yachts include spacious cabins, staterooms, a pantry facility, multiple decks with entertainment facilities, water sports equipment, such as jet skis, and water toys. They are also equipped with advanced navigation and safety systems. These vessels can be privately or commercially owned. Their demand has increased steadily in recent years. This can be attributed to lifestyle changes, such as increasing wealth, recreation & leisure trends, and growing yacht tourism.

The luxury yacht market faced significant challenges during the COVID-19 pandemic, with travel restrictions and border closures leading to declining sales and demand. Many potential buyers postponed or canceled purchases due to uncertainty. However, as vaccination rates increased and travel restrictions eased, the demand for luxury yachts surged. Affluent individuals sought seclusion and social distancing, driving private yachting demand. There was a shift in travel preferences toward remote destinations, leading buyers to customize yachts with personalized amenities and eco-friendly features. Despite initial setbacks, the luxury yacht market demonstrated resilience and adaptability. Manufacturers and brokers adjusted policies to meet changing customer demands, leading to a positive outlook for the market's recovery.

Luxury Yacht Market Trends

Electrification of Yachts a Growing Market Trend

Yacht manufacturers are expected to increase the production of electric yachts as they switch to batteries to produce zero-emission products. The prevalence of clean propulsion technology will drive the growth of electric yachts in the future. Electric yachts have few moving parts and do not require engine oil or gas. Additionally, these yachts are quiet and require little maintenance.

Electric luxury yachts produce more torque and efficiently convert stored kinetic energy into electricity. These yachts are environmentally friendly and emit no carbon dioxide, thereby reducing greenhouse gas emissions. A tough regulatory environment for traditional yachts and rising fuel prices will pave the way for the solid growth of electric yachts in the future. Huge investments from various manufacturers and government support measures will accelerate the demand for electric yachts. Moreover, companies are investing in R&D to develop new concepts for electrification.

• For instance, in June 2023, Porsche and Frauscher Shipyard announced the development of the Frauscher x Porsche 850 Fantom Air, an innovative electric yacht.

This venture marks Porsche's ambition to extend its electric prowess beyond the road and racing cars to promote maritime sustainability. This model combines aesthetics and innovation; the yacht utilizes the Premium Platform Electric (PPE) technology. It is integrated with a high-capacity 100 kWh lithium-ion battery , the latest-generation permanently excited synchronous electric motor (PSM), and state-of-the-art power electronics.

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Luxury Yacht Market Growth Factors

Increasing Number of UHNWIs to Surge Product Demand

The luxury yacht market is experiencing a significant surge in demand, primarily driven by the increasing number of global Ultra-high Net Worth Individuals (UHNWIs). Recent statistics reveal a notable rise in the proportion of UHNWIs, with the superyacht industry benefiting immensely from this trend. Leading yacht brokerage firms report record sales at top shipyards, with backlogs growing steadily. Additionally, there has been a remarkable increase in first-time charters, accounting for approximately 40% of the luxury charter market in 2021, according to insights from industry experts.

The growing wealth accumulation among billionaires and the super-rich fuels the demand for luxury yachts as affluent individuals seek extravagant investments that align with their lavish lifestyles. This trend is evident across various regions globally, with a particular emphasis on catering to the preferences and desires of ultra-rich clientele.

Furthermore, the steady rise in UHNWIs globally is expected to sustain the momentum in the luxury yacht market. Notably, regions, such as Asia Pacific, are anticipated to emerge as significant growth drivers for the luxury yacht market, owing to the rising affluence and luxury consumption trends in these regions. Overall, the increasing number of UHNWIs is a key factor propelling the growth of the luxury yacht market, shaping the industry landscape, and driving innovation in yacht design and customization to meet the evolving demands of ultra-rich clientele.

The growing desire among ultra-rich individuals to make extravagant investments that align with their affluent lifestyle further propels the demand for luxury yachts globally. This trend is underscored by the steady increase in wealthy individuals globally, particularly in regions, such as Asia Pacific, Europe, and other Middle Eastern countries. Thus driving the luxury yacht market growth.

RESTRAINING FACTORS

Environmental Concerns Related to Yachting Activities to Restrain Market Growths

Yachts have a significant impact on marine ecosystems. In busy waterways, the presence of luxury yachts can lead to algae and sedimentation, blocking solar radiation, degrading the water quality, and hampering marine life. In addition, sediments on yachts can change the water chemistry, making it either alkaline or acidic. The chemicals used to wash, operate, and protect yachts often mix with the water and seriously impact the environment, killing and debilitating wildlife. Since freshwater is commonly used for drinking water and fishing, such toxins in freshwater can affect humans as well.

New motor yachts, jet skis, sailing yachts, and other leisure boats have strict limits for nitrogen oxides (NOx), particulate matter, and hydrocarbons (HCs). In September 2021, representatives from the California Air Resources Board (CARB) proposed emission regulations for commercial yachts. Through these regulations, CARB aims to minimize harmful gas emissions. As recreational sailing is popular, protecting marine ecosystems and the environment has become an uphill battle. Regulatory measures and educational programs help raise awareness and reduce yacht-related pollution. But, protecting aquatic life and human health requires a concerted effort by yacht manufacturers, consumers, and regulators.

According to the International Maritime Organization, marine tourism resources are subject to various global threats to the oceans and marine systems, mainly due to anthropogenic factors. These include climate change, overfishing, bottom trawling (fishing nets along the seafloor), migration of invasive species, changes in inputs of waste, nutrients, and sediments to coastal and marine ecosystems, coastal urbanization, and loss of resources and natural capital in coastal areas, especially coastal wetlands.

Luxury Yacht Market Segmentation Analysis

By type analysis.

Higher Comfort Offered by Motor Yachts to Boost Their Demand

The market, based on type, is fragmented into motor yachts and sailing yachts. Motor yachts are the dominant and fastest growing segment. Motorized yachts provide larger space since they do not rely on winds and can cruise at high speeds, making them suitable for long-distance travels.

Sailing yachts have also showcased a significant growth rate in the market. This growth is due to their eco-friendliness and affordability. Sailing yachts have lesser budgets than motor yachts and are safer and more reliable.

By Size Analysis

Up to 50 Meters to Hold Largest Market Share Due to Affordability and Diverse Use

By size, the market is classified into up to 50 meters, 50 to 100 meters, and more than 100 meters. The up to 50-meter segment accounts for the largest global luxury market share. These yachts can be utilized for both personal activities and commercial use. Many manufacturers are developing new designs in this category.

• For instance, In January 2024, Tyde, the German luxury yacht manufacturer, collaborated with BMW to launch its second model, The Open. It is a 15-metre-long, fully-electric luxury day yacht.

The demand for superyachts and megayachts is rising in most developed countries, and there has been a notable surge in tourism in these nations. Therefore, the 50-100 meters segment is expected to record the highest CAGR, while the more-than 100 meters segment may exhibit a significant growth rate during the forecast period.

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By Application Analysis

Rising Disposal Income to Boost Product Use for Personal Activities

By application, the market is divided into personal use and commercial use.

In 2022, the personal use segment held the largest market share. Rapid urbanization, rising living standards, rising personal disposable incomes, and a growing population of high net worth individuals have increased spending on luxury goods and leisure activities. These factors are anticipated to fuel the growth of the personal use segment. Therefore, luxury yacht services have also seen a significant increase in demand in recent years.

Rising commercial get-togethers, such as corporate events, parties, sailing competitions, and fishing activities, have boosted the growth of the commercial use segment.

REGIONAL INSIGHTS

Regionally, the market is analyzed across North America, Europe, Asia Pacific, and Rest of the World.

Europe Luxury Yacht Market Size, 2023 (USD Billion)

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Europe is expected to hold the largest market share. This region has the potential to dominate the market due to the strong growth of maritime tourism and wide range of tourist destinations. Countries, such as Croatia, Greece, France, Spain, and Italy are the region's top tourist destinations and highest income earners. The rise in the popularity of fishing activities and water sports and growing upper-class population are expected to drive the market development in the region during the forecast period. Rising booking of European air tickets, strong online demand for yacht charter service providers, and increased insurance of vessel permits are expected to drive market growth in the region. The region's wealthy population is also likely to drive the market growth.

North America holds the second-largest position in the market as the region's diverse coasts have become great cruise destinations. The U.S. dominates this regional market due to the presence of major charter hubs within the country.

Asia Pacific is expected to be the fastest growing region in the next few years. This growth has been credited to rapid urbanization, rising living standards, and rising disposable incomes. Leisure activities, such as fishing and water sports are becoming more popular in Thailand, Malaysia, Singapore, China, Japan, and Australia. Maritime tourism is also rising, presenting significant opportunities for yacht manufacturing companies. In addition, aggressive government initiatives for marine tourism development, especially in countries, such as India and China, are expected to boost the regional market growth.

List of Key Companies in Luxury Yacht Market

Significant Product Offerings by Azimut Benetti Will Strengthen its Growth Prospects

Azimut Benetti is the first among all key players leading a global private group in the yachting sector, established in 1969 and headquartered in Viareggio, Italy. It has more than 50 years of experience in the sector. The company has achieved 60% growth in the last four years and has a 526,000 sq.m. production facility and 138 showrooms in 80 countries globally. It is known for continuous innovation and experimentation; it has been the world’s leading manufacturer of mega yachts and shipyards with the widest range of models for 23 years. The company has 168 projects under construction, totaling 5,991 meters in length, making it rank first, for the 23rd time in a row, in the annual ranking of the largest yacht builders. The company has major brands, such as Azimut, Benetti, Yachtique, and Lusben.

LIST OF KEY COMPANIES PROFILED:

• Azimut Benetti S.p.A. (Italy)
• Sanlorenzo S.p.A (Italy)          
• Ferretti Group (Italy)
• Feadship (Netherlands)
• Princess Yachts (U.K.)
• Sunseeker Yachts (U.K.)
• Fr. Lurssen Werft GmbH & Co. KG (Germany)
• ISA Yachts (Italy)
• Ocean Alexander (Taiwan)
• Kingship Marine Limited (China)

KEY INDUSTRY DEVELOPMENTS:

• January 2024: Mayla Hamburg, a Germany-based manufacturer, is a new entrant into the luxury yacht market. It has announced the unveiling of a magnificent new water vessel. The 'GT' is a luxury yacht that can be powered by diesel and gas, as well as hybrid and electric. This particular yacht boasts a hull that is made entirely out of carbon prepreg materials weighing as low as 3.8 tons. This combination of top-notch powertrain options and low weight makes its speed between 50 and 100 knots. The yacht's luxury amenities include a sundeck, BBQ, high-end audio system, sofa lounge and more.
• November 2023: Gulf Craft announced the exploration of hydrogen technology for its superyacht fleet. Gulf Craft partnered with H2-Enterprises to explore & develop a zero-emissions Majesty yacht, which could be powered by an innovative LOHC (Liquid Organic, Hydrogen Carrier) energy system. H2-Enterprises has been working on this technology for the last 13 years and has now reached the stage of development to power a superyacht.
• June 2023: Sanlorenzo launched a 47-meter explorer yacht called Para Bellum. The company’s tenth yacht is in its high-selling 460-500 EXP series. It is powered by twin Caterpillar engines that reach a cruising speed of 13 knots.
• May 2023: The Kadey-Krogen Group (Florida) acquired American Tugs in LaConner, Washington. American Tugs was founded in 1999 and is a leading builder of high-quality, U.S.-built coastal cruisers with a vast customer base in North America and Europe. The company has delivered over 250 cruising yachts and five commercial vessels from its 2,600 sq.m. facility.
• April 2023: Ferretti Group launched the Pershing 140. It is the company’s first flagship model entirely built from aluminum in the Ancona facility. The Pershing 140 yacht is equipped with four MTU 16V 2000 M96L engines, each rated at 2,600 hp, providing a cruising speed of 35 knots and a top speed of 38 knots.

REPORT COVERAGE

The market report provides a detailed analysis and focuses on key aspects, such as leading companies, product types, end-users, design, and technology. Besides this, it offers in-depth insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the market's growth in recent years.

An Infographic Representation of Luxury Yacht Market

To get information on various segments, share your queries with us

Report Scope & Segmentation

	2019-2032
	2023
	2024
	2024-2032
	2019-2022
	CAGR of 8.9% from 2024-2032
	Value (USD Billion)

Frequently Asked Questions

Fortune Business Insights says that the global market was valued at USD 7.67 billion in 2023. The global market is projected to grow to USD 17.33 billion by 2032.

The market is expected to register a CAGR of 8.9% during the forecast period of 2024-2032.

Increasing number of UHNWIs across the globe is expected to surge the market growth.

Europe led the global market in 2023.

• STUDY PERIOD: 2019-2032
• BASE YEAR: 2023
• HISTORICAL DATA: 2019-2022
• NO OF PAGES: 200

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The global luxury yacht market size is projected to grow from $8.75 billion in 2024 to $17.33 billion by 2032, at a CAGR of 8.9% during the forecast period

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Superyacht Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2024-2032

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• Report Description
• Major Segmentation
• Major Companies
• Major Regions

Market Overview

The superyacht market is a thriving sector within the luxury boating industry. Superyachts are large and luxurious vessels that offer premium amenities and exceptional comfort for private ownership or charter purposes. This market overview provides insights into the current state of the superyacht market, including key trends, market dynamics, regional analysis, competitive landscape, and future outlook.

Superyachts are luxury motor or sailing vessels that typically measure over 24 meters (79 feet) in length and offer high-end amenities and services. These yachts are designed for ultimate comfort, luxury, and leisure, providing owners and guests with lavish onboard experiences in the open waters.

Executive Summary

The superyacht market is experiencing steady growth due to the rising demand for luxury travel experiences and the increasing number of high-net-worth individuals seeking exclusive leisure activities. The market is driven by factors such as growing wealth concentration, evolving consumer preferences, and the desire for unique and personalized experiences. However, there are also challenges and opportunities that need to be addressed to ensure sustainable market growth. This executive summary provides a concise overview of the key market insights, drivers, restraints, opportunities, and trends shaping the superyacht market.

Key Market Insights

• Growing Wealth Concentration: The increasing number of ultra-high-net-worth individuals (UHNWIs) and billionaires worldwide is driving the demand for superyachts as a symbol of luxury and status.
• Evolving Consumer Preferences: Luxury travelers are seeking unique and personalized experiences, leading to the demand for superyachts that offer customization, privacy, and exceptional onboard amenities.
• Rising Popularity of Chartering: The charter market is gaining traction, allowing individuals to experience the luxury of superyachts without the long-term commitment of ownership.
• Technological Advancements: The integration of advanced technologies, such as hybrid propulsion systems, energy-efficient solutions, and smart onboard systems, is enhancing the performance and sustainability of superyachts.
• Focus on Sustainability: There is a growing emphasis on eco-friendly practices and sustainability in the superyacht industry, including the use of alternative fuels, waste management systems, and green design principles.

Market Drivers

• Growing Wealth among High-Net-Worth Individuals: The increasing wealth among high-net-worth individuals, particularly UHNWIs, is fueling the demand for luxury assets like superyachts.
• Desire for Exclusive Leisure Experiences: Superyachts offer unparalleled luxury, privacy, and personalized experiences, catering to the desires of affluent individuals seeking unique and extraordinary leisure activities.
• Emerging Markets and New Entrants: Emerging economies with rising affluence, such as China, India, and the Middle East, present new opportunities for market expansion and attracting new customers.
• Advancements in Design and Technology: The integration of cutting-edge design elements, advanced engineering, and innovative technologies enhances the performance, comfort, and sustainability of superyachts.
• Charter Market Growth: The popularity of chartering superyachts is increasing, as it provides individuals with the opportunity to enjoy the luxury experience without the long-term commitment of ownership.

Market Restraints

• High Cost of Ownership: The ownership and maintenance costs of superyachts can be substantial, including purchase price, operational expenses, crew salaries, and maintenance and refit costs.
• Economic Uncertainties: Economic downturns and financial uncertainties can impact the superyacht market, as luxury assets are often discretionary purchases that can be affected by changing economic conditions.
• Regulatory Challenges: Compliance with maritime regulations, safety standards, and environmental regulations can pose challenges for superyacht owners and operators, requiring significant investments and adherence to stringent guidelines.
• Limited Infrastructure and Berthing Facilities: The availability of suitable berthing facilities, marinas, and infrastructure to accommodate superyachts can be limited in certain regions, affecting cruising destinations and market growth.
• Environmental Concerns: The superyacht industry faces scrutiny regarding its environmental impact, particularly in terms of carbon emissions, waste management, and preservation of marine ecosystems.

Market Opportunities

• Personalization and Customization: Offering customized superyacht designs, amenities, and onboard experiences can attract discerning customers who seek exclusivity and personalized luxury.
• Emerging Markets: The growth of emerging markets, including Asia Pacific and the Middle East, presents opportunities to tap into new customer bases and cater to the rising affluence in these regions.
• Sustainability and Green Solutions: Developing and adopting eco-friendly practices, sustainable technologies, and green design principles can attract environmentally conscious customers and address the growing demand for sustainable luxury.
• Charter Market Expansion: The expansion of the charter market provides opportunities for superyacht owners and operators to generate revenue through charter bookings, maximizing the utilization of their assets.
• Technological Innovations: Continued advancements in design, engineering, and onboard systems can lead to the development of more efficient, safer, and technologically advanced superyachts, attracting customers looking for the latest innovations.

Market Dynamics

The superyacht market is driven by factors such as growing wealth concentration, evolving consumer preferences, technological advancements, sustainability concerns, and the expanding charter market. Market dynamics are influenced by factors such as changing consumer behavior, luxury travel trends, regulatory developments, economic conditions, and technological innovations. Understanding the market dynamics is crucial for industry participants and stakeholders to make informed decisions and develop effective strategies to capitalize on emerging opportunities.

Regional Analysis

The superyacht market exhibits variations across different regions, influenced by factors such as regional wealth distribution, cruising destinations, infrastructure, and regulatory frameworks. This regional analysis provides insights into the market trends, growth potential, and key players in key regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Understanding regional dynamics helps market players tailor their approaches to meet the specific needs and preferences in each region.

Competitive Landscape

The superyacht market is characterized by intense competition among key players, including yacht builders, naval architects, interior designers, and brokerage firms. This section provides an overview of the competitive landscape, highlighting the major players, their portfolios, geographical presence, strategic initiatives, and key developments. It also analyzes the competitive strategies, such as product launches, partnerships, mergers and acquisitions, and collaborations, adopted by market players to gain a competitive edge and enhance their market position.

Segmentation

The superyacht market can be segmented based on various factors, including yacht type, size, ownership, and region. Understanding the market segmentation helps identify specific market niches, target audiences, and tailor marketing strategies accordingly. This section provides a detailed analysis of the market segmentation, including market size, growth rate, and revenue forecasts for each segment.

Category-wise Insights

• Yacht Type: Superyachts are available in various types, including motor yachts, sailing yachts, explorer yachts, and catamarans. This section provides insights into the market share, design trends, and customer preferences for each yacht type.
• Size: Superyachts range in size from small vessels to mega yachts exceeding 100 meters (328 feet) in length. Understanding the market trends and size preferences helps in product development and customization strategies.

Key Benefits for Industry Participants and Stakeholders

• Market Growth Opportunities: The superyacht market offers significant growth opportunities for yacht builders, naval architects, interior designers, brokerage firms, and other industry participants.
• High-profit Margins: The luxury nature of superyachts allows for high-profit margins, attracting businesses and investors seeking lucrative opportunities in the luxury boating industry.
• Brand Enhancement: Owning or operating superyachts can enhance the reputation and brand image of yacht builders, designers, and brokerage firms in the luxury sector.
• Employment Generation: The superyacht industry contributes to employment generation, providing opportunities for skilled professionals, including crew members, technicians, and support staff.

SWOT Analysis

• Strengths: Unparalleled luxury and comfort, personalized experiences, and exclusivity in the market.
• Weaknesses: High ownership and operational costs, regulatory constraints, and limited infrastructure in certain regions.
• Opportunities: Personalization and customization, emerging markets, sustainability initiatives, charter market expansion, and technological advancements.
• Threats: Economic uncertainties, regulatory challenges, environmental concerns, and competition from alternative luxury travel experiences.

Market Key Trends

• Personalization and Customization: Customers are seeking customized superyacht designs, amenities, and onboard experiences to reflect their unique preferences and lifestyles.
• Focus on Sustainability: The industry is placing increasing emphasis on sustainability, with a growing demand for eco-friendly technologies, alternative fuels, and waste management solutions .
• Integration of Advanced Technologies: Superyachts are incorporating advanced technologies, including hybrid propulsion systems, energy-efficient solutions, and smart onboard systems, to enhance performance, safety, and comfort.
• Exploring New Cruising Destinations: Customers are increasingly seeking unique and lesser-explored cruising destinations, leading to a demand for superyachts with long-range capabilities and expedition capabilities.

Covid-19 Impact

The Covid-19 pandemic has had a mixed impact on the superyacht market. While the initial period of lockdowns and travel restrictions affected the charter and sales activities, there has been a rebound in demand as individuals seek safe and private luxury experiences. This section discusses the short-term and long-term impact of the Covid-19 pandemic on the market, including changes in consumer behavior, shifts in travel preferences, and the role of health and safety measures in the industry’s recovery.

Key Industry Developments

• Technological Advancements: Ongoing research and development efforts are focused on integrating advanced technologies, such as sustainable propulsion systems, onboard automation, and connectivity solutions, to enhance the performance and efficiency of superyachts.
• Sustainability Initiatives: The industry is adopting sustainable practices, such as the use of alternative fuels, waste management systems, and eco-friendly materials, to reduce the environmental impact of superyachts.
• Customization and Personalization: Yacht builders and designers are offering increased customization options and tailored experiences to cater to the unique preferences of superyacht owners and charter clients.

Analyst Suggestions

• Sustainable Practices: Emphasize sustainability initiatives and integrate eco-friendly technologies to meet the growing demand for environmentally conscious luxury experiences.
• Customer-Centric Approach: Focus on personalized experiences, customization options, and exceptional customer service to differentiate offerings and attract discerning clients.
• Collaboration and Partnerships: Foster collaborations with technology providers, suppliers, and industry stakeholders to drive innovation, enhance product offerings, and promote sustainable growth.
• Charter Market Expansion: Invest in charter-focused marketing strategies, fleet expansion, and service enhancements to capture a larger share of the growing charter market.

Future Outlook

The future of the superyacht market looks promising, with steady growth expected in the coming years. Factors such as growing wealth concentration, evolving consumer preferences, technological advancements, sustainability initiatives, and the expansion of the charter market will drive market expansion. However, challenges related to high ownership costs, economic uncertainties, and regulatory constraints need to be addressed. By embracing sustainability, focusing on customization, and adopting advanced technologies, the superyacht market can thrive and cater to the evolving demands of luxury travelers.

The superyacht market continues to evolve, driven by the growing demand for luxury travel experiences, personalized services, and exclusive leisure activities. Superyachts offer unparalleled comfort, luxury, and customization, attracting high-net-worth individuals seeking unique and extraordinary experiences on the open waters. While challenges exist, opportunities lie in personalization, sustainability, emerging markets, and the expanding charter market. By embracing technological advancements, adopting sustainable practices, and focusing on customer-centric strategies, the superyacht market can navigate the ever-changing landscape and provide memorable luxury experiences for years to come.

Superyacht Market

Segmentation Details	Description
By Size	Below 30 Meters, 30-60 Meters, Above 60 Meters
By Type	Motor Yachts, Sailing Yachts
By Region	North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Leading Companies in the Superyacht Market:

• Benetti Yachts
• Azimut Benetti S.p.A.
• Gulf Craft LLC
• Sanlorenzo Spa
• Princess Yachts International PLC
• Sunseeker International Limited
• Heesen Yachts

North America o US o Canada o Mexico

Europe o Germany o Italy o France o UK o Spain o Denmark o Sweden o Austria o Belgium o Finland o Turkey o Poland o Russia o Greece o Switzerland o Netherlands o Norway o Portugal o Rest of Europe

Asia Pacific o China o Japan o India o South Korea o Indonesia o Malaysia o Kazakhstan o Taiwan o Vietnam o Thailand o Philippines o Singapore o Australia o New Zealand o Rest of Asia Pacific

South America o Brazil o Argentina o Colombia o Chile o Peru o Rest of South America

The Middle East & Africa o Saudi Arabia o UAE o Qatar o South Africa o Israel o Kuwait o Oman o North Africa o West Africa o Rest of MEA

Important Questions Covered in this Study

• Which are the main companies that are currently operating within the market?
• What are the factors that are predicted to propel the growth of the market?
• What are the factors that are expected to limit the growth of the market?
• Which company had the largest market share?
• What are the main opportunities available in the market?
• What are the market size and growth rates of the various segments within the market?
• What are the market sizes and growth rates of the overall market or specific regions ?
• Which region or segment is projected to be the primary driver of market growth during the forecast period?
• What are the significant trends observed in the market?

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• Superyacht Market
• Automotive &Transportation

Code: IMR0807   |    Automotive &Transportation   |    Oct-2021   |    130 Pages   |   

• Report Description
• Table of Content
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In 2021, the Global Superyacht Market’s size was valued at USD 7.5 billion and is estimated to reach USD 14.1 billion by 2028 and is expected to be growing at a CAGR of 8.6 % throughout the forecast period. In this report, 2021 has been taken as the base year while 2020 is the historical year. The forecast year for the report is 2028 to approximate the size of the market for Superyacht.

Icon Market Research’s report on Superyacht studies the past and current opportunities of growth and trends to get a clear picture of the growth indicators of the market for the forecast period 2021 to 2028. The report also offers the revenue generated by the Superyacht market considering 2020 as the historical year, 2021 as the base year, and 2028 as the forecast year. The report also consists of the compound annual growth rate (CAGR) for the Superyacht market over the forecast period.

Report Overview of Superyacht Market

The Superyacht market report provides information and statistics on market shares, size, restraining factors, and driving factors for the forecast period 2021 to 2028. It also mentions the role of main market players in the automotive industry. The report on Superyacht market evaluates the value of the market report, keeping in mind the application and regional segments, market share, and size while forecasting the market for each product type and application of the Superyacht market in different segments of the report. The research report also mentions some sections of the Superyacht market including opportunities, growth, trend, size, demand, and technology used by prominent players of the market. Then, it gives detailed profiles of the key players as a part of the competitive landscape of the Superyacht market.

The study of the report divides it into several sub-segments and represents the whole automotive industry. An estimation of the revenue generated by the entire automotive industry and its sub-segments are also provided in the report. It decides the factors that affect the demand of the automotive industry rapidly, including methods of development, growth networks, and the product model. The report also points out the greatest prospects for the growth of the automotive market such as forecasting the growth of the market, the launch of new goods, and analysis of the product demand, purchase decisions, several economic factors that are important to determine the trend of Superyacht market, and the attractiveness of the market. The report on the Superyacht market will help in assisting the stakeholders in identifying high-potential customers, such as distributors and manufacturers.

Methodology of Superyacht Market

The methods used for collecting information for the report involve 4 main activities. These activities help in estimating the current size of the Superyacht market. Thorough secondary research was conducted to collect information on the Superyacht market, such as new technologies coming into the market, and components connected with this market. Then the collected information was validated with experts from the automotive industry across all the value chains through primary researches. Both top-down and bottom-up approaches were used for estimating the market size.

The secondary research includes collecting data from sources such as government publications such as country-level automotive associations and organizations, World Bank, Eurostat, Organization for Economic Co-operation and Development (OECD), and CDC; regulatory and corporate filings such as SEC filings, annual reports, investor presentations, and business magazines, financial statements, press releases, and research journals, free and paid automotive databases such as Organization International des Constructer’s d’Automobiles (OICA), Marlines, etc., and trade, business, and professional associations. The secondary data collected was then analyzed to predict the overall size of the market which was later validated with primary research.

Thorough primary research was done after getting a clear picture of the Superyacht market through secondary research. Many market experts were interviewed for the primary research from both the supply-side players and demand-side players and across four major regions, namely, Europe, North America, Asia Oceania, and the Rest of the World. Apart from the interviews, primary data was collected through mails, questionnaires, and telephonic interviews.

Growth Mapping of Superyacht Market

The main aim of the Superyacht report is to give the map of the growth for the Superyacht market that will help in providing the clients with the required information for the formulation strategies to meet their respective business goals. The report also provides deep knowledge of the Superyacht for the previous year as well as for the forecast years and what the CAGR level of the market is going to be. This report is a synopsis of what the market conditions are going to be while also giving information regarding the market’s definition, classifications, applications, and engagements are. This report also aims to analyze the Superyacht market’s developments including the market improvement, market position, and others which are usually done by the prominent players and brands of the automotive industry. This report also consists of all the market drivers and restraints which are obtained through SWOT analysis. The report also has the CAGR values of the Superyacht market for the base years 2021, the historic year 2020, and forecast years 2021-2028.

Regional Analysis of Superyacht Market

The Superyacht market report provides a study for more than 20 countries and their market players The report covers a regional and country-level analysis that covers North America, South America, Europe, Asia Pacific (APAC), Africa, and the Middle East. The market is deeply analyzed for each region, which helps in identifying the market trends for each region, growth opportunities, and restraining factors.

For the forecast year 2021-2028, it has been estimated that North America will the dominating market for Superyacht. This region is expected to see growth in the automotive industry because of the increasing population, increase in per capita income, and improvement in living standards. There has been an increase in demand for comfort features in vehicles and fuel-efficient vehicles which accelerates the growth of the Superyacht market. The weight reduction of vehicles and enhanced energy efficiency is further driving the automotive industry. The other factors which are driving the growth of the Superyacht market include the development of marketing analytics tools and firmly established existing players in the market. In addition to this, government agencies, companies, third-party administrators, etc. are channelizing their efforts to make customer-centric automotive products which will also contribute to the growth of the Superyacht market in this region. Rising demand for vehicles and their parts, increased investment by the government, new and advanced technology, and machinery, along with the improved marketing tactics will likely cause the Superyacht market to grow substantially.

The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period (2021-2028). This growth is driven by the increasing research activities, growing demand for vehicles and parts, and an increasing number of initiatives by market players for expanding their presence in the APAC, and higher adoption of Superyacht in several APAC countries. Improvements in GDP per capita and infrastructure development have urbanized the region to a greater extent turning rural areas into urban areas. The sudden surge in the demand has caused the cities to fall into unsustainable consumption models. The top key players in the Superyacht market are located in the region. China and India are expected to offer significant growth opportunities for players operating in the Superyacht market, owing to the growing support from government bodies, increasing demand for new vehicles with special features, and the presence of less-stringent regulations and data requirements (as compared to developed countries) in their respective healthcare systems.

Competitive Landscape of Superyacht Market

The report provides a competitive landscape on both the quantitative as well as qualitative research of Superyacht market. The report also provides detailed insights on the development methods used by the key market players. The report offers deep research on the key market players and details on the competitiveness of these players. The main business strategies used by these players such as mergers and acquisitions (M&A), collaborations, affiliations, and contracts are also and analyzed in the report. For each competitor, the report studies their global presence, service offerings, competitors, and specification. The main players covered by the study on the global Superyacht market are: Azimut-Benetti Group, Feretti Group, Sanlorenzo, Feadship, Gulf Craft, Torquoise Yacht, Ocenanco, Sunseeker, Horizon Yachts, The Italian Sea Group, Heesen yachts, Princess Yachts, Lynx Yachts, and Ocean Alexander.

The Report Provides Insights on The Following Pointers:

●        It gives a forecast analysis of factors that are driving or restraining the development of the Superyacht market.

●        The report gives a seven-year forecast value evaluated on the basis of the current market performance of the automotive industry.

●        It helps in understanding the main segments of the products and their future.

●        The report gives a deep analysis of changing competition in the market which keeps you ahead of your competitors.

●        The report gives the market definition of the Superyacht market along with the analysis of different factors influencing the market such as drivers, opportunities, and restraints.

The Report Answers Questions Such As:

●        What is the potential opportunity for the Superyacht market?

●        What are the major drivers, restraints, and opportunities of the Superyacht market?

●        What is the market share of the leading segments and sub-segments of the Superyacht market in the forecast period (2021-2028)?

●        How did the Superyacht market evolve?

●        How each segment of the Superyacht market is expected to grow during the forecast period?

●        What is the expected revenue to be generated by each of the segments by the end of 2028?

●        What are the key development strategies implemented by the key players to stand out in this Superyacht market?

●        What is the preferred business model used for building Superyacht?

●        Which area of application is expected to be the highest revenue generator in the Superyacht market during the forecast period?

●        Which end-user segment is expected to be the highest revenue generator in this industry during the forecast period?

●        What is the potential of Superyacht market in the emerging countries during the forecast period?

Azimut-Benetti Group

Feretti Group

Torquoise Yacht

Horizon Yachts

The Italian Sea Group

Heesen yachts

Princess Yachts

Lynx Yachts

Ocean Alexander

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Superyacht market accelerates

According to press headlines many yacht owners took to the ocean to escape the Covid-19 pandemic. Did the reality match the hype?

The reality rarely matches the hype, and this case is no different. There was plenty of lazy rhetoric about yachts becoming ‘safe havens’ for the ultra-wealthy. But retrospective analysis shows that Mediterranean cruising in 2020 was actually down 13% YoY – an unsurprising statistic, and by no means dramatic, considering the severity of the pandemic, but nevertheless in countenance to the hyperbole being purported the mainstream media.

While usage was understandably constricted, there have been some encouraging signs for the market, in ownership terms, with demonstrable growth in both the new-build and second-hand markets.

Following two years of steady decline, the global order book (the cumulative figure for all ≥30m superyachts currently in build or under contract for construction), the end of the first quarter of this year had shown a notable rise to 397 vessels. This was a 14.7% increase on the figure at the close of 2020. It was also within touching distance of the previous five-year high of 418, recorded at year-end 2017.

With regards the resale market, the picture is also encouraging. The first half of 2021 showed a huge 19% YOY increase in yacht sale/purchase transactions, while new listings were down a staggering 70%, a key indicator that yachts are in use or panned for use.

Crucially, the second six months of 2020 saw the market record 129 sale/purchase transactions. So, with the second half of this year beginning in earnest, a similarly prolific market dynamic has the potential to lead to a record-breaking year for second-hand sales.

And how is the charter market faring?

After the decimation of the charter market in 2020, charter brokers are facing completely the opposite situation this summer. With so many of 2020’s charters deferred to this year, for the benefit of both client and vendor, charter brokers have found themselves in a mad scramble to find enough inventory to furnish this year’s new market entrants.

Lawyers too have explained how the contractual process has become more protracted after a spate of disputes last year linked to the flimsy nature of traditional charter contracts; lawyers on both sides are being asked to fortify their terms of agreement. All in all though, these are welcome challenges for the charter market, and demands remains sky-high this summer. Are you seeing an increase in demand from less traditional yacht-owning regions of the world like Asia?

Asia has long represented something of a conundrum for the superyacht industry. A number of the top production builders have enjoyed success through regional dealerships led by embedded local experts, but the custom builders have historically found it harder to gain traction. This however, is changing. Through more nuanced and region-specific sales and marketing, the top European builders are starting to enjoy modest success within Asia, and specifically Hong Kong and mainland China.

The issue impacting market growth now however, is the lack of berthing and service infrastructure. While Asian superyacht ownership is on the increase, many of these individuals are operating their vessels exclusively in the Mediterranean because of the lack of large yacht-specific infrastructure, particularly in the aforementioned locations. How is the burgeoning ESG agenda influencing the superyacht sector?

This topic is a thorny one for me personally because for many years the lack of discourse surrounding topics such as diversity or sustainability was a bugbear of mine. I am happy to say, however, that there is an ever-greater shift towards professionalism within our industry and movements have emerged that address both our environmental and social responsibility.

As a manufacturing industry, sustainability is of particular importance and there are some serious organisations, such as the Water Revolution Foundation, evaluating how wastage of all types can be reduced. In my opinion, the quickest route to success and widespread adoption is in repackaging the concept of ‘sustainability’ into one of ‘efficiency and optimisation’. Ultimately, the two come hand in hand, but the latter better conveys the ROI that the clients are also looking for.

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Region North America Europe Asia-Pacific Latin America Middle East and Africa

Superyacht Market By Segments, By Region and Companies - Market Analysis, Trends, Revenue Opportunity, Competitive Analysis, and Forecast 2023-2032

Description

• Table of Contents

Superyacht Market Overview:

The Superyacht Market overview provides a comprehensive understanding of the analyzed market. It includes an introduction to the market, its size, growth rate, and key trends. This aims to give clients a broad understanding of the market landscape. The market analysis of the Superyacht Market delves deeper into the market dynamics, focusing on factors such as market drivers, challenges, and opportunities. It explores the macroeconomic and microeconomic factors affecting the market, industry regulations, and emerging market trends. The analysis provides valuable insights into the current and future market conditions.

The assessment of the Superyacht Market is performed by taking various factors into consideration, like, for instance, the business expansion policies of key players, competitive analysis of the progress of new entrants and emerging players, and the revenue, financial, and opportunity analysis of market players. The also analyzed based on regional segmentation, type or technique, end-user spectrum, etc. This research implements the latest methodologies to help clients understand the overall market scenario and strategize accordingly. The Superyacht Market report provides an overview of the different types of analysis conducted during the market research process, including but not limited to SWOT analysis, Porter's Five Forces analysis, PESTLE analysis, and market forecasting. These analyses provide a deeper understanding of the market dynamics and assist in making informed business decisions.

Major players included in the Superyacht Market:

• Horizon Yacht USA
• Azimut Benetti
• Damen Yachting
• Ocean Alexander
• Overmarine Group Spa
• THE ITALIAN SEA GROUP SpA
• Ferretti SpA

Superyacht Market Segmentation:

• 30-80 meter
• Above 80 meter

By Application

By Propulsion

Future Market Analytics Focus Points:

• SWOT Analysis
• Key Market Trends
• Key Data -Points Affecting Market Growth
• Revenue and Forecast Analysis
• Growth Opportunities For New Entrants and Emerging Players
• Key Player and Market Growth Matrix

Superyacht Market Competitive Analysis:

The competitive analysis of the Superyacht Market assesses the competitive landscape of the market. It includes evaluating key players in the industry, their market share, business strategies, and competitive advantages. The competitive analysis also highlights the strengths and weaknesses of major competitors, allowing clients to understand the competitive positioning of companies operating in the market.

Objectives of the Study:

• To provide a comprehensive analysis on the Superyacht Market by segmentation and by region
• To cater extensive insights on factors influencing the market growth (drivers, restraints, industry-specific restraints, business expansion opportunities)
• To anticipate and analyse the market size expansion in key regions- North America, Europe, Asia Pacific, Latin America and Middle East and Africa
• To record and evaluate competitive landscape mapping- strategic alliances and mergers, technological advancements and product launches, revenue and financial analysis of key market players

How our market research reports help clients:

Our market research reports provide valuable insights to clients in their decision-making process and support their growth and market capture efforts. They offer:

• Comprehensive understanding of market trends, dynamics, and growth potential.
• Identification of niche markets and emerging opportunities.
• Assessment of competitive landscape and strategic benchmarking.
• Insights into consumer preferences, buying behavior, and market demand.
• Risk assessment and mitigation strategies.
• Market forecasting and trend analysis for informed business planning.
• Understanding product development, pricing, and other strategies.

In case of any specific requirements or changes to the current table of content based on your scope, please contact us at: [email protected]

Superyacht Market Introduction

• Objectives of the Study
• Market Definition
• Years Considered for the Study
• Market Covered
• Limitations
• Stakeholders

Research Methodology

• Key Data from Secondary Sources
• Key Data from Primary Sources
• Market Size Estimation
• Market Breakdown and Data Triangulation
• Assumptions for the Study

Executive Summary

• Market Outlook
• Segment Outlook
• Competitive Insights

Superyacht Market Variables, Trends & Scope

• Market Lineage Outlook
• Penetration and Growth Prospect Mapping
• Industry Value Chain Analysis
• Cost Analysis Breakdown
• Technology Overview
• Reimbursement Framework
• Standards and Compliances

Superyacht Market Overview

• Market Driver Analysis
• Market Restraint Analysis
• Industry Challenges

Superyacht Market Analysis Tools

• Supplier Power
• Buyer Power
• Substitution Threat
• Threat from New Entrants
• Competitive Rivalry
• Political Landscape
• Environmental Landscape
• Social Landscape
• Technology Landscape
• Legal Landscape

Superyacht Market, By Segmentation Historical Analysis 2017-2022 and Forecast 2023-2032 (USD million)

North america market analysis 2017-2022 and forecast 2023-2032 (usd million).

• Introduction
• Rest of North America
• Market Size (USD Mn) Forecast for North America 2023-2032

Latin America Market Analysis 2017-2022 and Forecast 2023-2032 (USD Million)

• Regional Market Trends
• Rest of Latin America
• Market Size (USD Mn) Forecast for Latin America 2023-2032

Europe Market Analysis 2017-2022 and Forecast 2023-2032 (USD Million)

• Switzerland
• Rest of Europe
• Market Size (USD Mn) Forecast for Europe 2023-2032

Asia Pacific Market Analysis 2017-2022 and Forecast 2023-2032 (USD Million)

• Australia and New Zealand
• Rest of Asia Pacific
• Market Size (USD Mn) Forecast for Asia Pacific 2023-2032

Middle East and Africa Market Analysis 2017-2022 and Forecast 2023-2032 (USD Million)

• South Africa
• Saudi Arabia
• Rest of MEA
• Market Size (USD Mn) Forecast for MEA 2023-2032

Superyacht Market Company Profiles:

We will provide a Company Overview (HQ, Business Segments, Employee Strength), Technology Portfolio, Competition Dashboard, Competitors Deep Dive, SWOT Analysis, Financial Overview/Layouts, and Strategic Overview of the above company profiles.

(Note: The list of the major players will be updated with the latest market scenario and trends)

Impact of COVID-19

• Positive influence on the industry
• The financial disruption of the sector
• Impact of COVID-19 on emerging companies
• Significant mandates in the industry regulations initiated by administrations
• The overall economic slowdown of the developing and developed nations

Competitive Intelligence and Competitive Matrix

• Competitive Intelligence
• Competitive Matrix

Major Deals and Strategic Alliances Analysis

• Joint ventures
• Mergers and acquisitions
• Licensing and partnerships
• Technology Collaborations
• Strategic Divestments
• Market Entry Strategies

Relevant Case Studies and Latest News Updates

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