Luxury Yacht Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Sailing Luxury Yacht, Motorized Luxury Yacht, and Others), Material (FRP/Composites, Metal/Alloys, and Others), and Size (75-120 Feet, 121-250 Feet, and Above 250 Feet)

List of Tables

The luxury yacht market size is expected to grow from US$ 6,076.59 million in 2022 to US$ 10,338.10 by 2028; it is estimated to register a CAGR of 9.3% from 2022 to 2028.

The growing awareness regarding environmental protection and the need to lower the carbon footprint left behind by the diesel yacht is driving a shift toward luxury yachts operating on green energy. With the increasing demand for luxury yachts running on renewable energy, yacht manufacturers are working on harnessing solar energy to provide electricity to yachts. As most yachts cruise in sunny places, harnessing power from the sun becomes easier. For example, in April 2021, the Sunreef Yachts Eco R&D team produced an in-house solar power system. The system is enabled with the industry's first composite-integrated photovoltaic technology that uses ultra-thin, shock-resistant, and highly efficient solar cells.

Many luxury yacht market players are implementing solar panels on yachts, making their operations eco-friendly. For instance, in February 2022, ALVA Yachts introduced ECO 60 Explorer electric yachts with solar panels. This new yacht has an expansive roof integrated with solar panels. In February 2023, Silent-Yachts launched Silent 60, its first solar electric catamaran, at its shipyard in Fano, Italy. This luxury yacht has four guest cabins on the lower deck, with a spacious master suite. It also consists of numerous social areas, including an airy main saloon, a cozy bow area, an aft cockpit, and a flybridge. Further, in March 2022, Zaha Hadid Architects partnered with Rossinavi and designed Oneiric, a luxury yacht that works 100% on solar power. It consists of a solar-paneled roof, making it entirely run on renewable energy. Thus, the rising implementation of green energy in luxury yachts is emerging as a notable trend in the luxury yacht market.

Impact of COVID-19 Pandemic on Luxury Yacht market

Germany, the UK, France, and Italy were severally affected due to the COVID-19 pandemic in 2020. The pandemic affected the operations of yacht manufacturers, as manufacturers had to temporarily stop manufacturing operations or continue their operations with limited workforces, adversely impacting product deliveries in 2020. Also, due to the disruption in the supply chain worldwide, the yacht manufacturers faced a shortage of various electronic components, negatively impacting the Europe luxury yacht market. However, in 2021, with the relaxation of lockdown measures, the manufacturing business started again. The luxury yacht market also gained momentum. The luxury yacht market is expected to grow due to the increasing demand for these yachts from the wealthy population. In October 2021, Marina Port Vell, a Spanish company, announced that they would build 23 new berths for superyachts due to the rising demand for superyachts. Thus, all the above factors will fuel the growth of the luxury yacht market in Europe during the forecast period.

Based on size, the luxury yacht market is segmented into 75-120 feet, 121-250 feet, and above 250 feet. 121-250 feet length luxury yachts are preferred across the globe. However, the increasing trend of personal yachts from billionaires is creating significant demand for 75-120 feet length luxury yachts.

A yacht of size 75-120 feet is also known as a superyacht. Superyachts are generally used for sports activities as they are lightweight. Luxury yachts of this size cannot accommodate several rooms; thus, they are not preferred for long travels or vacation and tourism applications. However, the increase in water sports activities by both private and commercial end users is contributing to the rise in the demand for luxury yachts of size 75-120 feet.

Azimut Benetti S.p.A., Bavaria Yachtbau GmbH, DELTA MARINE, Brunswick Corporation, Cheoy Lee Shipyards Limited, Damen Group, FINCANTIERI S.p.A., Heesen Yachts Sales B.V., Palumbo Superyachts Ancona s.r.l, and Oceanco are among the key players operating in the global luxury yacht market and profiled in this market study.

Reasons to Buy:

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global luxury yacht market.

Highlights key business priorities in order to assist companies to realign their business strategies

The key findings and recommendations highlight crucial progressive industry trends in the global luxury yacht market, thereby allowing players across the value chain to develop effective long-term strategies

Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it

Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Product Code: TIPRE00004787

1. Introduction

1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Luxury yacht Market Landscape

4.1 Market Overview
4.2 PEST Analysis
- 4.2.1 North America
- 4.2.2 Europe
- 4.2.3 APAC
- 4.2.4 MEA
- 4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. Luxury Yacht Market- Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Growing Yacht Tourism
- 5.1.2 Increasing Superyacht Demand
5.2 Key Market Restraints
- 5.2.1 High Initial Cost and Carbon Footprint
5.3 Key Market Opportunities
- 5.3.1 Rising Demand in Asia Pacific
5.4 Future Trends
- 5.4.1 Implementation of Solar Energy
5.5 Impact Analysis of Drivers and Restraints

6. Luxury Yacht Market- Global Market Analysis

6.1 Luxury Yacht Market Global Overview
6.2 Global Luxury Yacht Market Forecast and Analysis
6.3 Market Positioning- Top Five Players

7. Luxury Yacht Market Revenue and Forecast to 2028 - by Type

7.1 Overview
7.2 Luxury Yacht Market, by Type (2021 & 2028)
7.3 Sailing Luxury Yacht
- 7.3.1 Overview
- 7.3.2 Sailing Luxury Yacht: Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
7.4 Motorized Luxury Yacht
- 7.4.1 Overview
- 7.4.2 Motorized Luxury Yacht: Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
7.5 Others
- 7.5.1 Overview
- 7.5.2 Others: Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

8. Luxury Yacht Market Analysis and Forecast to 2028 - by Material

8.1 Overview
8.2 Luxury Yacht Market, by Material (2021 & 2028)
8.3 FRP/Composites
- 8.3.1 Overview
- 8.3.2 FRP/Composites: Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
8.4 Metal/Alloys
- 8.4.1 Overview
- 8.4.2 Metal/Alloys: Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
8.5 Others
- 8.5.1 Overview
- 8.5.2 Others: Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

9. Luxury Yacht Market Analysis and Forecast to 2028 - by Size

9.1 Overview
9.2 Luxury Yacht Market, by Size (2021 & 2028)
9.3-120 Feet
- 9.3.1 Overview
- 9.3.2-120 Feet: Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
9.4-250 Feet
- 9.4.1 Overview
- 9.4.2-250 Feet: Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
9.5 Above 250 Feet
- 9.5.1 Overview
- 9.5.2 Above 250 Feet: Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)

10. Luxury yacht Market- Geographic Analysis

10.1 Overview
10.2 North America:
- 10.2.1 North America: Luxury yacht Market- Revenue, and Forecast to 2028 (US$ Million)
- 10.2.2 North America: Luxury yacht Market, by Type
- 10.2.3 North America: Luxury yacht Market, by Material
- 10.2.4 North America: Luxury yacht Market, by Size
- 10.2.5 North America: Luxury yacht Market, by Key Country
  - 10.2.5.1 US: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.2.5.1.1 US: Luxury yacht Market, by Type
    - 10.2.5.1.2 US: Luxury yacht Market, by Material
    - 10.2.5.1.3 US: Luxury yacht Market, by Size
  - 10.2.5.2 Canada: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.2.5.2.1 Canada: Luxury yacht Market, by Type
    - 10.2.5.2.2 Canada: Luxury yacht Market, by Material
    - 10.2.5.2.3 Canada: Luxury yacht Market, by Size
  - 10.2.5.3 Mexico: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.2.5.3.1 Mexico: Luxury yacht Market, by Type
    - 10.2.5.3.2 Mexico: Luxury yacht Market, by Material
    - 10.2.5.3.3 Mexico: Luxury yacht Market, by Size
10.3 Europe:
- 10.3.1 Europe: Luxury yacht Market- Revenue, and Forecast to 2028 (US$ Million)
- 10.3.2 Europe: Luxury yacht Market, by Type
- 10.3.3 Europe: Luxury yacht Market, by Material
- 10.3.4 Europe: Luxury yacht Market, by Size
- 10.3.5 Europe: Luxury yacht Market, by Key Country
  - 10.3.5.1 Germany: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.1.1 Germany: Luxury yacht Market, by Type
    - 10.3.5.1.2 Germany: Luxury yacht Market, by Material
    - 10.3.5.1.3 Germany: Luxury yacht Market, by Size
  - 10.3.5.2 France: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.2.1 France: Luxury yacht Market, by Type
    - 10.3.5.2.2 France: Luxury yacht Market, by Material
    - 10.3.5.2.3 France: Luxury yacht Market, by Size
  - 10.3.5.3 Italy: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.3.1 Italy: Luxury yacht Market, by Type
    - 10.3.5.3.2 Italy: Luxury yacht Market, by Material
    - 10.3.5.3.3 Italy: Luxury yacht Market, by Size
  - 10.3.5.4 UK: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.4.1 UK: Luxury yacht Market, by Type
    - 10.3.5.4.2 UK: Luxury yacht Market, by Material
    - 10.3.5.4.3 UK: Luxury yacht Market, by Size
  - 10.3.5.5 Russia: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.5.1 Russia: Luxury yacht Market, by Type
    - 10.3.5.5.2 Russia: Luxury yacht Market, by Material
    - 10.3.5.5.3 Russia: Luxury yacht Market, by Size
  - 10.3.5.6 Rest of Europe: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.6.1 Rest of Europe: Luxury yacht Market, by Type
    - 10.3.5.6.2 Rest of Europe: Luxury yacht Market, by Material
    - 10.3.5.6.3 Rest of Europe: Luxury yacht Market, by Size
10.4 APAC:
- 10.4.1 Overview
- 10.4.2 Asia Pacific: Luxury yacht Market- Revenue, and Forecast to 2028 (US$ Million)
- 10.4.3 Asia Pacific: Luxury yacht Market, by Type
- 10.4.4 Asia Pacific: Luxury yacht Market, by Material
- 10.4.5 Asia Pacific: Luxury yacht Market, by Size
- 10.4.6 Asia Pacific: Luxury yacht Market, by Key Country
  - 10.4.6.1 Australia: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.4.6.1.1 Australia: Luxury yacht Market, by Type
    - 10.4.6.1.2 Australia: Luxury yacht Market, by Material
    - 10.4.6.1.3 Australia: Luxury yacht Market, by Size
  - 10.4.6.2 China: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.4.6.2.1 China: Luxury yacht Market, by Type
    - 10.4.6.2.2 China: Luxury yacht Market, by Material
    - 10.4.6.2.3 China: Luxury yacht Market, by Size
  - 10.4.6.3 India: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.4.6.3.1 India: Luxury yacht Market, by Type
    - 10.4.6.3.2 India: Luxury yacht Market, by Material
    - 10.4.6.3.3 India: Luxury yacht Market, by Size
  - 10.4.6.4 Japan: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.4.6.4.1 Japan: Luxury yacht Market, by Type
    - 10.4.6.4.2 Japan: Luxury yacht Market, by Material
    - 10.4.6.4.3 Japan: Luxury yacht Market, by Size
  - 10.4.6.5 South Korea: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.4.6.5.1 South Korea: Luxury yacht Market, by Type
    - 10.4.6.5.2 South Korea: Luxury yacht Market, by Material
    - 10.4.6.5.3 South Korea: Luxury yacht Market, by Size
  - 10.4.6.6 Rest of APAC: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.4.6.6.1 Rest of APAC: Luxury yacht Market, by Type
    - 10.4.6.6.2 Rest of APAC: Luxury yacht Market, by Material
    - 10.4.6.6.3 Rest of APAC: Luxury yacht Market, by Size
10.5 MEA: Luxury yacht Market
- 10.5.1 Overview
- 10.5.2 MEA: Luxury yacht Market- Revenue, and Forecast to 2028 (US$ Million)
- 10.5.3 MEA: Luxury yacht Market, by Type
- 10.5.4 MEA: Luxury yacht Market, by Material
- 10.5.5 MEA: Luxury yacht Market, by Size
- 10.5.6 Middle East and Africa: Luxury yacht Market, by Key Country
  - 10.5.6.1 South Africa: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.5.6.1.1 South Africa: Luxury yacht Market, by Type
    - 10.5.6.1.2 South Africa: Luxury yacht Market, by Material
    - 10.5.6.1.3 South Africa: Luxury yacht Market, by Size
  - 10.5.6.2 Saudi Arabia: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.5.6.2.1 Saudi Arabia: Luxury yacht Market, by Type
    - 10.5.6.2.2 Saudi Arabia: Luxury yacht Market, by Material
    - 10.5.6.2.3 Saudi Arabia: Luxury yacht Market, by Size
  - 10.5.6.3 UAE: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.5.6.3.1 UAE: Luxury yacht Market, by Type
    - 10.5.6.3.2 UAE: Luxury yacht Market, by Material
    - 10.5.6.3.3 UAE: Luxury yacht Market, by Size
  - 10.5.6.4 Rest of MEA: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.5.6.4.1 Rest of MEA: Luxury yacht Market, by Type
    - 10.5.6.4.2 Rest of MEA: Luxury yacht Market, by Material
    - 10.5.6.4.3 Rest of MEA: Luxury yacht Market, by Size
10.6 SAM: Luxury yacht
- 10.6.1 SAM: Luxury yacht Market- Revenue, and Forecast to 2028 (US$ Million)
- 10.6.2 SAM: Luxury yacht Market, by Type
- 10.6.3 SAM: Luxury yacht Market, by Material
- 10.6.4 SAM: Luxury yacht Market, by Size
- 10.6.5 SAM: Luxury yacht Market, by Key Country
  - 10.6.5.1 Brazil: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.6.5.1.1 Brazil: Luxury yacht Market, by Type
    - 10.6.5.1.2 Brazil: Luxury yacht Market, by Material
    - 10.6.5.1.3 Brazil: Luxury yacht Market, by Size
  - 10.6.5.2 Argentina: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.6.5.2.1 Argentina: Luxury yacht Market, by Type
    - 10.6.5.2.2 Argentina: Luxury yacht Market, by Material
    - 10.6.5.2.3 Argentina: Luxury yacht Market, by Size
  - 10.6.5.3 Rest of SAM: Luxury yacht Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.6.5.3.1 Rest of SAM: Luxury yacht Market, by Type
    - 10.6.5.3.2 Rest of SAM: Luxury yacht Market, by Material
    - 10.6.5.3.3 Rest of SAM: Luxury yacht Market, by Size

11. Impact of COVID-19 Pandemic on Luxury Yacht Market

11.1 Overview
11.2 North America: Impact Assessment of COVID-19 Pandemic
11.3 Europe: Impact Assessment of COVID-19 Pandemic
11.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic
11.5 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
11.6 South America: Impact Assessment of COVID-19 Pandemic

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 Product Development

13. Company Profiles

13.1 Fincantieri SpA
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Azimut Benetti SpA
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Bavaria Yachtbau GmbH
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Delta Marine Industries Inc
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Heesen Yachts Sales BV
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 Palumbo Superyachts Ancona SRL
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Alblasserdam Yachtbuilding BV
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 Fr. Lurssen Werft GmbH & Co KG
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Cheoy Lee Shipyards Ltd
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 Damen Shipyards Group NV
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners
14.2 Word Index