Luxury Yacht Market by Type and Geography - Forecast and Analysis 2021-2025
- Published: Sep 2021
- Pages: 115
- SKU: IRTNTR40515
Enjoy complimentary customisation on priority with our Enterprise License!
Quick and easy buy and download option
Flexible option - Complimentary customization included
The luxury yacht market share is expected to increase by 327.00 units from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 11.32%.
This luxury yacht market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers luxury yacht market segmentations by type (motor yachts and sail yachts) and geography (Europe, APAC, North America, South America, and MEA). The luxury yacht market report also offers information on several market vendors, including Alexander Marine International Co. Ltd., Azimut Benetti SpA, Brunswick Corp., Christensen Shipyards LLC, Damen Shipyards Group NV, Feadship Holland BV, FERRETTI SpA, Heesen Yachts Sales BV, Overmarine Group Spa, and Palumbo Group Spa among others.
What will the Luxury Yacht Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the Luxury Yacht Market Size for the Forecast Period and Other Important Statistics
Luxury Yacht Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increase in recreational tourism is notably driving the luxury yacht market growth, although factors such as high cost of operations may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the luxury yacht market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Luxury Yacht Market Driver
One of the key factors driving the luxury yacht market is the increase in recreational tourism. 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 global luxury yacht 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. The global tourism industry is witnessing tremendous growth, with Southeast Asia witnessing more growth than other regions. This is primarily due to the increase in the number of tourists from developing countries, such as China and India, who are spending almost three times more on foreign tourism than what they spend locally. Increasing tourism and recreational activities are a few of the significant reasons that are expected to drive the global luxury yacht market during the forecast period.
Key Luxury Yacht Market Trend
Another key factor driving the luxury yacht market growth is the use of advanced materials. Most traditional yachts are built using either steel or aluminum, which makes the yachts heavy and reduces their fuel economy. Although steel and aluminum 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. Also, carbon fiber provides additional strength and durability to the boat's dynamics, which enables it to withstand harsh conditions in 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. For instance, in August 2021, Azimut Benetti Spa and Loro Piana formed a collaboration in which the maison has fitted out both the interiors and part of the exteriors of the new benetti yacht.
Key Luxury Yacht Market Challenge
High cost of operations is one of the key challenges hindering the 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. Therefore, the operation and fueling costs of luxury motor yachts are more than luxury sail yachts. The high operational costs for commercially using luxury yachts challenge the global luxury yacht market, as their private operation is low. Many chartered service providers engage multiple brokers in enhancing potential business opportunities. However, due to the involvement of multiple participants, both the operational cost and complexities in availing services augment further. In certain cases, leasing a large yacht can cost as much as $50,000-$55,000 per week to the chartered service buyers.
This luxury yacht market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global luxury yacht market as a part of the global marine market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the luxury yacht market during the forecast period.
Who are the Major Luxury Yacht Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Alexander Marine International Co. Ltd.
- Azimut Benetti SpA
- Brunswick Corp.
- Christensen Shipyards LLC
- Damen Shipyards Group NV
- Feadship Holland BV
- FERRETTI SpA
- Heesen Yachts Sales BV
- Overmarine Group Spa
- Palumbo Group Spa
This statistical study of the luxury yacht market encompasses successful business strategies deployed by the key vendors. The luxury yacht market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
Product Insights and News
- Alexander Marine Co. Ltd.- The company offers luxury yacht throgh MEGAYACHTS and MOTORYACHTS product segments.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The luxury yacht market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Luxury Yacht Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the luxury yacht market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Luxury Yacht Market?
For more insights on the market share of various regions Request for a FREE sample now!
34% of the market's growth will originate from Europe during the forecast period. UK and Germany are the key markets for luxury yacht market in Europe. Market growth in this region will be faster than the growth of the market in regions.
Product launches by the vendors will facilitate the luxury yacht market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic had caused significant disruptions in the regional economy. By the end of the first quarter of 2020, the COVID-19 pandemic brought international travel to an abrupt halt and significantly impacted the tourism industry in the region. The spread of the COVID-19 epidemic caused the suspension of cruise activities from mid-March 2020, the immobilization of the entire fleet, the decline of revenues for all companies. Various vendors incurred losses during the pandemic. For instance, Fincantieri Spa, headquartered in Italy, faced the impact of COVID-19 on the shipbuilding segment. The company reported a loss of 3.2 million production hours, 2.7 million only in the first half of 2020, and a corresponding loss of progress in revenues totaling $1,235 million. In 2021, the ease of lockdown measures and launch of vaccines have been positively impacting the marine industry, which in turn regional luxury yacht market in focus. As per Fincantieri Spa Annual Report, in 2021, the start of the vaccination phase has been encouraging a gradual recovery, concentrated in the second half of the year.
What are the Revenue-generating Type Segments in the Luxury Yacht Market?
To gain further insights on the market contribution of various segments Request for a FREE sample
The luxury yacht market share growth by the motor yachts will be significant during the forecast period. The motor yacht segment is expected to have a higher growth rate than the sail yacht segment owing to the increasing demand for luxury motor yachts from both private owners and chartered yacht service providers. This increase in growth rate is expected to increase the market share of the motor yacht segment during the forecast period.
Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the luxury yacht market size and actionable market insights on post COVID-19 impact on each segment.
Luxury Yacht Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 11.32%
Market growth 2021-2025
YoY growth (%)
Europe, APAC, North America, South America, and MEA
Performing market contribution
Europe at 34%
Key consumer countries
US, UK, Germany, China, and Japan
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Alexander Marine International Co. Ltd., Azimut Benetti SpA, Brunswick Corp., Christensen Shipyards LLC, Damen Shipyards Group NV, Feadship Holland BV, FERRETTI SpA, Heesen Yachts Sales BV, Overmarine Group Spa, and Palumbo Group Spa
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 forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this Luxury Yacht Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive luxury yacht market growth during the next five years
- Precise estimation of the luxury yacht market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the luxury yacht market industry across Europe, APAC, North America, South America, and MEA
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of luxury yacht market vendors
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 (units)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Type
- 5.1 Market segments
- Exhibit 15: Type - Market share 2020-2025 (%)
- 5.2 Comparison by Type
- Exhibit 16: Comparison by Type
- 5.3 Motor yachts - Market size and forecast 2020-2025
- Exhibit 17: Motor yachts - Market size and forecast 2020-2025 (units)
- Exhibit 18: Motor yachts - Year-over-year growth 2020-2025 (%)
- 5.4 Sail yachts - Market size and forecast 2020-2025
- Exhibit 19: Sail yachts - Market size and forecast 2020-2025 (units)
- Exhibit 20: Sail yachts - Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by Type
- Exhibit 21: Market opportunity by Type
6 Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 23: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 24: Geographic comparison
- 7.3 Europe - Market size and forecast 2020-2025
- Exhibit 25: Europe - Market size and forecast 2020-2025 (units)
- Exhibit 26: Europe - Year-over-year growth 2020-2025 (%)
- 7.4 APAC - Market size and forecast 2020-2025
- Exhibit 27: APAC - Market size and forecast 2020-2025 (units)
- Exhibit 28: APAC - Year-over-year growth 2020-2025 (%)
- 7.5 North America - Market size and forecast 2020-2025
- Exhibit 29: North America - Market size and forecast 2020-2025 (units)
- Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
- 7.6 South America - Market size and forecast 2020-2025
- Exhibit 31: South America - Market size and forecast 2020-2025 (units)
- Exhibit 32: South America - Year-over-year growth 2020-2025 (%)
- 7.7 MEA - Market size and forecast 2020-2025
- Exhibit 33: MEA - Market size and forecast 2020-2025 (units)
- Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 35: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 36: Market opportunity by geography (units)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- Exhibit 37: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Competitive Landscape
- 9.2 Vendor landscape
- Exhibit 38: Vendor landscape
- 9.3 Landscape disruption
- Exhibit 39: Landscape disruption
- Exhibit 40: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 41: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 42: Market positioning of vendors
- 10.3 Alexander Marine International Co. Ltd.
- Exhibit 43: Alexander Marine International Co. Ltd. - Overview
- Exhibit 44: Alexander Marine International Co. Ltd. - Product and service
- Exhibit 45: Alexander Marine International Co. Ltd. - Key offerings
- 10.4 Azimut Benetti SpA
- Exhibit 46: Azimut Benetti SpA - Overview
- Exhibit 47: Azimut Benetti SpA - Product and service
- Exhibit 48: Azimut Benetti SpA - Key offerings
- 10.5 Brunswick Corp.
- Exhibit 49: Brunswick Corp. - Overview
- Exhibit 50: Brunswick Corp. - Business segments
- Exhibit 51:Brunswick Corp. - Key news
- Exhibit 52: Brunswick Corp. - Key offerings
- Exhibit 53: Brunswick Corp. - Segment focus
- 10.6 Christensen Shipyards LLC
- Exhibit 54: Christensen Shipyards LLC - Overview
- Exhibit 55: Christensen Shipyards LLC - Product and service
- Exhibit 56: Christensen Shipyards LLC - Key offerings
- 10.7 Damen Shipyards Group NV
- 10.8 Feadship Holland BV
- Exhibit 61: Feadship Holland BV - Overview
- Exhibit 62: Feadship Holland BV - Product and service
- Exhibit 63: Feadship Holland BV - Key offerings
- 10.9 FERRETTI SpA
- Exhibit 64: FERRETTI SpA - Overview
- Exhibit 65: FERRETTI SpA - Product and service
- Exhibit 66:FERRETTI SpA - Key news
- Exhibit 67: FERRETTI SpA - Key offerings
- 10.10 Heesen Yachts Sales BV
- Exhibit 68: Heesen Yachts Sales BV - Overview
- Exhibit 69: Heesen Yachts Sales BV - Product and service
- Exhibit 70:Heesen Yachts Sales BV - Key news
- Exhibit 71: Heesen Yachts Sales BV - Key offerings
- 10.11 Overmarine Group Spa
- Exhibit 72: Overmarine Group Spa - Overview
- Exhibit 73: Overmarine Group Spa - Product and service
- Exhibit 74: Overmarine Group Spa - Key offerings
- 10.12 Palumbo Group Spa
- Exhibit 75: Palumbo Group Spa - Overview
- Exhibit 76: Palumbo Group Spa - Product and service
- Exhibit 77: Palumbo Group Spa - Key offerings
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 78: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 79: Research Methodology
- Exhibit 80: Validation techniques employed for market sizing
- Exhibit 81: Information sources
- 11.4 List of abbreviations
- Exhibit 82: List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Get your sample now!
Frequently Asked Questions?
- The Netherlands
- increase in recreational tourism
- Use of advanced materials
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
Why should you prefer Technavio's market insights report?
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Quick and easy buy and download option
Flexible option - Complimentary customization included
Get the report (PDF) sent to your email within minutes.
Subscribe & Save
Get lifetime access to our
Did you know?
Did you know?
Did you know?
Customized Report as per your Business Needs
- Our analysts will work directly with you and understand your needs
- Get data on specified regions or segments, competitor and Vendors
- Data will be formatted and presented as per your requirements
- We offer $1000 worth of FREE customization at the time of purchase
Let us help you make report more suited to your requirements.
- Get a competitive breakdown as per your niche industry
- Customize the data with various metrics that meet your business prerequisite
- Understand Revenue Sources, Customers and many more
- Details on Market Share
- These customizations are done in a short amount of time by our analysts and industry experts