The global Luxury Yacht market is projected to rise at a considerable rate in the forthcoming years. The demand for yachts has progressively increased in the past few years due to the upsurge in the disposable income of individuals and their inclination toward leisure or recreational activities. Moreover, the growing preference of travelers for luxury tourism, personalized service, and exclusive traveling are the main factors boosting the sales of yachts. In addition to this, the manufacturers are focusing on including luxury features for offering enhanced performance characteristics and customer experience. This key fact further propels the growth of the market.
Furthermore, other crucial factors such as improved maritime security systems, connectivity, and tracking are further intensifying the growth of the global Luxury Yacht market. Additionally, advancements in telematics and IoT platforms are anticipated to improve the industry potential in the forthcoming years.
Covid-19 Impact on Luxury Yacht Market
The outbreak of the covid-19 has a severe and swift impact on the automobile and transportation industry. This is majorly due to the shutdown of assembly plants in the US, interruptions across Europe in large-scale manufacturing, and disruption in the export of Chinese parts. In addition to this, the industry is dealing with reduced demand across the globe due to changes in customer behavior and shifts in a supply-demand chain. A recent study shows a 39% decline in sales of automotive all over the world. Moreover, the nationwide lockdowns have substantially affected the transportation sector. Restrictions on transportation accounted for a 45 to 55% decline in public as well as private transport sectors.
Luxury Yacht Market Segment Overview
Based on Type, the Super Yacht segment dominated the Luxury Yacht Market in 2020. The high popularity among the end-users is expected to enlarge the growth of the segment. Further, the sport yacht is projected to emerge as the fastest-growing segment in the market. The segment growth can be attributed to the large demand for sports yachts in countries such as China and France. In addition, sports yachts are used for marine tourism, sports tournaments, other recreational activities such as cruising, fishing, and other water sports activities. In terms of Yacht Length, the Up to 20 Meters segment dominated the market with a high revenue share in 2020. The growth of the segment can be mainly attributed to benefits such as low maintenance costs and light wind sailing capabilities that help save fuel and ensure traveling in a favorable wind direction. According to Propulsion, the Motor Yacht segment held the maximum revenue share of the market in 2020. The high share of this segment can be attributed to the benefits offered by these yachts including the high speed and power, large distance coverage, among others.
Luxury Yacht Market, By Type
· Super Yacht
· Flybridge Yacht
· Sport Yacht
· Long Range Yacht
· Others
Luxury Yacht Market, By Yacht Length
· Up to 20 Meters
· 20-50 Meters
· Above 50 Meters
Luxury Yacht Market, By Propulsion
· Motor Yacht
· Sailing Yacht
Luxury Yacht Regional Overview
Region-wise, Europe commanded a major share of the global Luxury Yacht market in 2020. The high share can be attributed to the increased yacht sales and growing popularity of water sports in this region. In the coming years, passenger traffic in coastal and marine tourism is anticipated to increase considerably owing to the attractiveness of the region and supportive policies. This key fact further fuels the market’s growth in this region. Additionally, the increasing number of trade shows hosted by manufacturers and recreational boating events are supporting the market’s growth in the region. Likewise, Asia Pacific is expected to emerge as a significant region in the overall Luxury Yacht market. The growth in disposable income and improved standard of living are some important factors that are responsible for the changing preference of the regions’ population for yacht travel. Moreover, government initiatives for the development of tourism activities such as the Swadesh Darshan Scheme and Incredible India are projected to propel the regional market’s growth in the forecast period. Furthermore, the increasing demand for recreational activities supported by the increasing participation of people in marine recreational activities in countries such as Singapore, Thailand, China, and Australia are also anticipated to enlarge the growth of the regional market.
Luxury Yacht Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Luxury Yacht Market Competitor overview
Some key developments and strategies adopted by manufacturers in Luxury Yacht are highlighted below.
· In August 2021, a Gdańsk company specialising in custom-made luxury yachts and catamarans has confirmed its place as one of the global leaders in its field after winning a prestigious award at the International Yacht and Aviation Awards 2021.
Luxury Yacht Market, Key Players
· 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
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Luxury Yacht Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Super Yacht
- 5.2.2. Flybridge Yacht
- 5.2.3. Sport Yacht
- 5.2.4. Long Range Yacht
- 5.2.5. Others
- 5.3. Market Analysis, Insights and Forecast – By Yacht Length
- 5.3.1. Up to 20 Meters
- 5.3.2. 20-50 Meters
- 5.3.3. Above 50 Meters
- 5.4. Market Analysis, Insights and Forecast – By Propulsion
- 5.4.1. Motor Yacht
- 5.4.2. Sailing Yacht
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Luxury Yacht Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Super Yacht
- 6.2.2. Flybridge Yacht
- 6.2.3. Sport Yacht
- 6.2.4. Long Range Yacht
- 6.2.5. Others
- 6.3. Market Analysis, Insights and Forecast – By Yacht Length
- 6.3.1. Up to 20 Meters
- 6.3.2. 20-50 Meters
- 6.3.3. Above 50 Meters
- 6.4. Market Analysis, Insights and Forecast – By Propulsion
- 6.4.1. Motor Yacht
- 6.4.2. Sailing Yacht
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Luxury Yacht Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Super Yacht
- 7.2.2. Flybridge Yacht
- 7.2.3. Sport Yacht
- 7.2.4. Long Range Yacht
- 7.2.5. Others
- 7.3. Market Analysis, Insights and Forecast – By Yacht Length
- 7.3.1. Up to 20 Meters
- 7.3.2. 20-50 Meters
- 7.3.3. Above 50 Meters
- 7.4. Market Analysis, Insights and Forecast – By Propulsion
- 7.4.1. Motor Yacht
- 7.4.2. Sailing Yacht
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Luxury Yacht Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Super Yacht
- 8.2.2. Flybridge Yacht
- 8.2.3. Sport Yacht
- 8.2.4. Long Range Yacht
- 8.2.5. Others
- 8.3. Market Analysis, Insights and Forecast – By Yacht Length
- 8.3.1. Up to 20 Meters
- 8.3.2. 20-50 Meters
- 8.3.3. Above 50 Meters
- 8.4. Market Analysis, Insights and Forecast – By Propulsion
- 8.4.1. Motor Yacht
- 8.4.2. Sailing Yacht
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Luxury Yacht Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Super Yacht
- 9.2.2. Flybridge Yacht
- 9.2.3. Sport Yacht
- 9.2.4. Long Range Yacht
- 9.2.5. Others
- 9.3. Market Analysis, Insights and Forecast – By Yacht Length
- 9.3.1. Up to 20 Meters
- 9.3.2. 20-50 Meters
- 9.3.3. Above 50 Meters
- 9.4. Market Analysis, Insights and Forecast – By Propulsion
- 9.4.1. Motor Yacht
- 9.4.2. Sailing Yacht
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Azimut Benetti S.p.A.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Damen Shipyards Group
- 10.6. Heesen Group
- 10.7. The San Lorenzo S.p.a
- 10.8. Sunseeker International
- 10.9. Ferretti S.p.A.
- 10.10. Alexander Marine International Co., Ltd. (AMI)
- 10.11. Princess Yachts Limited
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
