DUBLIN--(BUSINESS WIRE)--The "Luxury Yacht Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global luxury yacht market is expected to grow from $6.30 billion in 2022 to $6.88 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The luxury yacht market is expected to grow to $9.61 billion in 2027 at a CAGR of 8.7%.
The luxury yacht market research report provides luxury yacht market statistics, including global market size, regional shares, competitors with a luxury yacht market share, detailed luxury yacht market segments, market trends and opportunities, and any further data you may need to thrive in the luxury yacht industry. This luxury yacht market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
A surge in tourism and recreational activities is expected to propel the growth of the luxury yacht market going forward. Tourism refers to the act and process of spending time away from home in pursuit of recreation, relaxation, and pleasure while making use of the commercial provision of services. Luxury yacht helps in tourism and recreational activities by cruising, fishing, remote exploration, and practice of natural and other nautical.
The luxury yacht provides well-equipped and advanced cabins, dining, and staterooms for tourism and recreational activities which increases the demand for a yacht among the tourist. For instance, in May 2022, according to World Tourism Organization, a US-based tourism agency, global international tourist arrivals doubled (+130%) in January 2022 as compared to 2021, whereas, in January 2022, 18 million additional visitors were recorded worldwide. Therefore, the surge in tourism and recreational activities is driving the growth of the luxury yacht market.
Product innovations are a key trend gaining popularity in the luxury yacht market. Major companies operating in the luxury yacht market are focused on developing new and innovative yachts to sustain their position in the market. For instance, in April 2022, Numarine Denizcilik, a Turkey-based builder of high-performance motor yachts launched a 22XP yacht, an innovative and entry-level boat in the XP Series to date. The new yacht boasts roomy social rooms, a huge flybridge, and enormous angular windows similar to those on the 26XP.
The interior of the 22XP is one of the largest available for a 70-footer. The 22XP's floorplan features three or four roomy staterooms, including a master suite with a full beam. They are all located on the lower deck, which is well-lit by natural light. In addition, the 22XP includes a sizable main deck saloon, an open cockpit, and a majestic flybridge.
The luxury yacht market consists of sales of luxury gulet yachts, hybrid yachts with sails and motors, open yachts, cruisers, cabin cruisers, and express cruisers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Europe was the largest region in the luxury yacht market in 2022. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the luxury yacht market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the luxury yacht market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
A selection of companies mentioned in this report includes
- Feadship
- Azimut Benetti SPA
- Ferretti SPA
- Damen Shipyards Group
- Viking Yacht Company
- Blohm+Voss
- Hessen Yachts
- Sunseeker
- Alexander Marine Co. Ltd.
- Sanlorenzo SPA
- Brunswick Corporation
- MarineMax Inc.
- Riveria Australia Pty Ltd.
- Trinity Yachts
Key Topics Covered:
1. Executive Summary
2. Luxury Yacht Market Characteristics
3. Luxury Yacht Market Trends And Strategies
4. Luxury Yacht Market - Macro Economic Scenario
4.1. COVID-19 Impact On Luxury Yacht Market
4.2. Ukraine-Russia War Impact On Luxury Yacht Market
4.3. Impact Of High Inflation On Luxury Yacht Market
5. Luxury Yacht Market Size And Growth
5.1. Global Luxury Yacht Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Luxury Yacht Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Luxury Yacht Market Segmentation
6.1. Global Luxury Yacht Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Motor Yacht
- Sailing Yacht
- Other Types
6.2. Global Luxury Yacht Market, Segmentation By Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Less Than 50 Meters
50-100 Meters
100-150 Meters
- More Than 150 Meters
6.3. Global Luxury Yacht Market, Segmentation By Hull Material, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Fiber Reinforced Polymers And Composites
- Metals And Alloys
- Other Hull Materials
6.4. Global Luxury Yacht Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Commercial
- Private
7. Luxury Yacht Market Regional And Country Analysis
7.1. Global Luxury Yacht Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Luxury Yacht Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/l8khr6
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