The luxury yacht market is estimated to grow at a CAGR of 11.26% between 2022 and 2027. The size of the market is forecast to increase by 366 thousand units. The growth of the market depends on several factors, including the increase in recreational tourism, digital marketing, increasing social media use, and the increase in the HNWI population.
This report extensively covers market segmentation by type (sail yachts and motor yachts), application (commercial and private), and geography (Europe, APAC, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
What will be the size of the Luxury Yacht Market During the Forecast Period?

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Parent Market Analysis
Technavio categorizes the global luxury yacht market as a part of the global marine market within the global transportation market. The parent global marine market covers revenue generated by the companies providing goods and passenger maritime transportation. The marine market excludes cruise lines. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Luxury Yacht Market: Key Drivers, Trends, Challenges, and Customer Landscape
The increase in recreational tourism is notably driving the market growth, although factors such as the high cost of operations may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Luxury Yacht Market Driver
The increase in recreational tourism is the key factor driving the global luxury yacht market growth. Tourism is a major economic activity across the globe and is a significant contributor to the economic growth, employment, and social development of numerous countries. It also plays a key role in the market, where commercial yacht operators or fleet operators form a significant part of the business. Also, the natural landscape of many countries, such as Greece, Spain, France, and Italy, attracts tourists from across the world, especially the wealthy segment of the population. These places are also popular destinations for business events and meetings, where luxury yachts are leased from yacht fleet operators.
Europe is one of the largest and most attractive ports for yachts. The Port of Rotterdam in the Netherlands is Europe's largest yacht port, where about 77 luxury yachts are docked for luxury tourism. Increasing tourism and recreational activities are a few of the significant reasons that are expected to drive the market during the forecast period.
Key Luxury Yacht Market Trend
The use of advanced materials will fuel the global luxury yacht market growth. Most traditional yachts are built using either steel or aluminium, which makes the yachts heavy and reduces their fuel economy. Although steel and aluminium are less expensive than alternative materials, such as glass fiber reinforced materials or pure carbon fiber, yacht makers realize the overall benefits of using carbon fiber in the construction of the boat. Carbon fiber extensively reduces the yacht's weight, which makes the yacht fast and fuel-efficient. This cost-saving from improved fuel economy offsets the additional manufacturing cost incurred by using carbon fiber. Also, carbon fiber provides additional strength and durability to the boat's dynamics, which enables it to withstand harsh conditions in the seas.
Carbon-fiber-based composite is a heavy-duty, military-grade, lightweight material. Due to this, it is a widely used material in yacht manufacturing. The carbon-fiber-based boat draws about 7.7' water as compared to aluminum-based boats that draw about 9'-10' water, which means this boat can easily sail in deep or shallow waters. So growing use of the advanced material in yacht making is fueling the market in focus during the forecast period.
Key Luxury Yacht Market Challenge
The high cost of operations is a major challenge to the global luxury yacht market growth. Motor luxury yachts have every modern convenience installed onboard, such as ACs, television, navigation aids, radar, echo-sounding, and autopilot. In order to power all these amenities, luxury yachts require a reliable power-generating system. Thus, these yachts use gasoline or diesel-powered internal combustion engine ICEs to sail along with powering these modern conveniences and charging onboard batteries. As these yachts need to run at speeds up to 70 knots, the ICEs that are needed to power the amenities and run the yachts are huge and have high fuel requirements. However, any potential customer can avail of the booking facility through a third-party broker instead of the central agent, where both brokers share commissions.
In one way, such arrangements allow potential clients to avail or access a wide range of information on fleet booking and thereby select a suitable booking option based on their comfort. However, due to the involvement of multiple participants, both the operational cost and complexities in availing services augment further. Thus, the high cost of operations hinders the market growth during the forecast period.
Key Luxury Yacht Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Luxury Yacht Market Customer Landscape
Who are the Major Luxury Yacht Market Vendors?
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
oceanalexander.com - The company offers luxury yachts such as Divergence, Revolution, and Explorer. Also, the company offers yacht series designed by Evan Marshall and Arrabito Naval Architects which offers unwavering safety, luxurious spaces, and sleek design.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
- Alexander Marine International
- Azimut Benetti SpA
- Christensen Shipyards LLC
- Damen Shipyards Group
- Feadship Holland BV
- FERRETTI SpA
- Fincantieri Spa
- Fr. Lurssen Werft GmbH
- Gruppo Fipa Srl
- Heesen Yachts Sales BV
- Horizon Yacht USA
- Nobiskrug Yachts GmbH
- Overmarine Group Spa
- Palmer Johnson
- Palumbo Group Spa
- Perini Navi Spa
- Sanlorenzo Spa
- Viking Yacht Co.
- Westport Yachts
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
What is the Fastest-Growing Segment in the Luxury Yacht Market?
The market share growth by the sail yachts segment will be significant during the forecast period. Luxury sail yachts are 80' or longer (up to 230' long). Though they have auxiliary engine power, they use sails as the primary means of propulsion. Factors such as the absence of a large engine, increased automation employed in production, and the introduction of fiberglass hulls, keep the prices of luxury sail yachts lower than luxury motor yachts.

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The sail yachts segment show a gradual increase in the market share of 195 thousand units in 2017 and continue to grow by 2021. Luxury sail yachts feature all possible modern conveniences, such as ACs, television, navigation aids, radar, echo-sounding, autopilot, computer-controlled electric winches for controlling the sails, and a reliable power-generating system. These yachts are exclusively used for leisure purposes. Furthermore, our report provides a brief analysis of historical and forecast market share and their segment along with their reasons for growth from 2017 to 2027. The growth of this segment is primarily attributed to the increasing adoption of the Luxury Yacht Market by residential consumers, which is driven by an increase in the global demand for the Luxury Yacht Industry.
Which are the Key Regions for the Luxury Yacht Market?

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Europe is projected to contribute 31% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Europe has been the dominant region for luxury goods, with an estimated share of over 40% of the global luxury goods market. The region also continues to dominate the global market in terms of luxury goods manufacturing, with France and Italy as the key production powerhouses and Portugal as an upcoming manufacturing hub for luxury goods. In the case of the market, Europe has one of the largest and most attractive ports for yachts.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in the demand for Europe. However, in 2021, business and industrial activities resumed with the ease of lockdown measures, availability of COVID-19 vaccines, and the vaccination drives carried out by the governments of countries such as Germany, Italy, France, etc. Such steps positively impacted the marine industry, which, in turn, increased the demand of the regional market in 2022 and is expected to grow during the forecast period.
You may be interested in the regional reports:
Europe Luxury Yacht market - The market witnessed sales of 412 luxury yachts in 2014, and the European market emerging as its largest contributor with revenues close to USD 2 billion.
Segment Overview
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Type (Sail yachts and Motor yachts), Application (Commercial and Private), and Geography (Europe, APAC, North America, South America, and Middle East and Africa).
- Type Outlook (Thousand Units, 2017 - 2027)
- Application Outlook (Thousand Units, 2017 - 2027)
- Region Outlook (Thousand Units, 2017 - 2027)
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Luxury Yacht Market Scope
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Report Coverage
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Details
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Page number
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154
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Base year
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2022
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Historic period
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2017-2021
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Forecast period
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2023-2027
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Growth momentum & CAGR
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Accelerate at a CAGR of 11.26%
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Market growth 2023-2027
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366 thousand units
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Market structure
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Fragmented
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YoY growth (%)
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10.98
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Regional analysis
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Europe, APAC, North America, South America, and Middle East and Africa
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Performing market contribution
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Europe at 31%
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Key countries
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US, China, Japan, UK, and Germany
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Competitive landscape
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Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled
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Alexander Marine International, Azimut Benetti SpA, Christensen Shipyards LLC, Damen Shipyards Group, Feadship Holland BV, FERRETTI SpA, Fincantieri Spa, Fr. Lurssen Werft GmbH, Gruppo Fipa Srl, Heesen Yachts Sales BV, Horizon Yacht USA, Nobiskrug Yachts GmbH, Oceanco SAM, Overmarine Group Spa, Palmer Johnson, Palumbo Group Spa, Perini Navi Spa, Sanlorenzo Spa, Viking Yacht Co., and Westport Yachts
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Market dynamics
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Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
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Customization purview
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If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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What are the Key Data Covered in this Luxury Yacht Market Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the luxury yacht market between 2023 and 2027
- Precise estimation of the size of the luxury yacht market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behaviour
- Growth of the market industry across Europe, APAC, North America, South America, and Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of luxury yacht market vendors
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