Yacht Market Size, Share & Trends Analysis Report By Type (Super Yacht, Flybridge Yacht, Sport Yacht, Long Range Yacht), By Length, By Propulsion- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Yacht market gathered revenue around USD 8.10 Billion in 2020 and market is set to grow USD 13.4 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 6.0% during the prediction period 2021 to 2027.

Growth Factors:

The market is expected to witness significant growth owing to the increasing coastal and marine tourism activities across the globe. Furthermore, the rising standard of living and growing corporate tourism activities across the globe are expected to further drive the market.

The sports segment is expected to exhibit high growth owing to its use in personal activities as well as sports events. The increasing number of recreational sporting events, yacht trade shows, and events organized by OEMs are supporting the growth of the market in developed regions such as North America and Europe. A significant increase in the number of people participating year-on-year in marine recreational activities is also expected to further boost the market growth in these regions. Moreover, rising marine tourism and the growing population of high-net-worth individuals are also likely to contribute to the growth of the regional markets.

According to the World Bank, High-Net-Worth Individuals (HNWI) account for less than 1% of the world’s total population and more than 40% of the world’s total wealth. The growing HNWI population is driving the spending on leisure activities, including yacht travels. The demand for modern leisure yachts is particularly growing as it provides a connected experience while cruising, fishing, and so on.

The increasing adoption rate has compelled manufacturers to invest in research and development on building yachts using high-strength composite material for physical structures. Significant amounts of R&D budgets are also assigned for the integration of technologies such as IoT that enable the exchange of information through a single network. Furthermore, the digitalization of propulsion systems has also significantly increased the efficiency of yachts, thus reducing fuel consumption.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Yacht market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Yacht market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

Report Scope Details
Market Size USD 13.4 Billion by 2027
Growth Rate CAGR of 6.0% From 2021 to 2027
Base Year 2020
Forecast Period 2021 to 2027
Historic Data 2017 to 2020
Report coverage Growth Factors, Revenue Status, Competitive Landscape,  and Future Trends
Segments Covered Type, yacht length, propulsion and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned Azimut Benetti S.p.A.; Damen Shipyards Group; Heesen Group; The San Lorenzo S.p.a; Sunseeker International; Ferretti S.p.A.; Alexander Marine International Co., Ltd. (AMI); Princess Yachts Limited; Viking Yacht Company.

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Yacht market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Regional analysis:

Europe accounted for the largest market share with a revenue contribution of over 35% in 2020 in the global market. The high share can be attributed to the increased yacht sales in the region. The demand in European countries is majorly driven by factors such as an increasing number of HNWI and the growing popularity of water sports and fishing activities. In the upcoming years, passenger traffic in coastal and marine tourism is expected to increase drastically due to the attractiveness of the region and recent supportive policies. This is anticipated to increase in investments in coastal areas and recreational activities such as fishing, sail training adventures, white-water rafting, kayaking, and one-day boating adventures, in addition to scuba diving, free diving, and snorkeling. The increasing number of trade shows hosted by manufacturers and recreational boating events are supporting the market growth in the region.

Asia Pacific is anticipated to emerge as the fastest-growing regional market over the forecast period. The rise in disposable income and improved standard of living are some of the critical factors responsible for the changing preference of the regions’ populace for yacht travel. Furthermore, government initiatives for the development of tourism activities such as the Swadesh Darshan Scheme and Incredible India are expected to boost the regional market growth over the forecast period. However, countries facing economic crises, political instability, and stringent FDI policies are anticipated to negatively influence growth. Furthermore, the surging demand for recreational activities supported by the increasing participation of people in marine recreational activities in countries such as Singapore, Thailand, China, and Australia is also expected to bolster the growth of the regional market.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Some of the prominent players in the Yacht Market include:  Azimut Benetti S.p.A.; Damen Shipyards Group; Heesen Group; The San Lorenzo S.p.a; Sunseeker International; Ferretti S.p.A.; Alexander Marine International Co., Ltd. (AMI); Princess Yachts Limited; Viking Yacht Company

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

  • By Type
    • Super Yacht
    • Flybridge Yacht
    • Sport Yacht
    • Long Range Yacht
    • Others
  • By Yacht Length
    • Up to 20 Meters
    • 20-50 Meters
    • Above 50 Meters
  • By Propulsion
    • Motor Yacht
    • Sailing Yacht

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Yacht market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Yacht market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Yacht markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in Yacht Market Study:

  • Growth of Yacht in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Yacht and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Yacht Consumption Analysis
  •  Yacht Production Analysis
  •  Yacht and Management