Yacht Market Detailed Analysis and Forecast 2023-2032

The global yacht market size was USD 8.85 Billion in 2022 and is expected to reach USD 14.95 Billion in 2032, and register a revenue CAGR of 6% during the forecast period. Rising demand for luxurious recreational boats for leisure activities, tourism, and adventure sports is the major factor driving the market revenue growth. With the rise in High-Net-Worth Individuals' (HNWI) worldwide disposable incomes, the demand for yachts has been increasing quickly. It is expected that the growing number of HNWI in developing countries including China, India, and Brazil is expected to further drive revenue growth of the yacht market.

The demand for yacht charters is also rising as a result of the popularity of yacht rentals, particularly in the Caribbean, the Mediterranean, and Southeast Asia. Throughout the forecast period, it is expected that the yacht market income will increase due to the expansion of the yacht charter industry. Bespoke boat designs, which give unique amenities and comfort to yacht owners, are also in demand due to the growing preference for custom-made yachts.

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Also, the industry is expanding as a result of the rising demand for eco-friendly boats. Environmentally friendly ships using Renewable Energy sources and sustainable materials are being developed by yacht manufacturers more frequently. For instance, because of their low carbon impact and high energy efficiency, electric boats are becoming more popular. During the forecast period, the yacht market revenue growth is expected to benefit from growth prospects brought on by the implementation of green technology in yacht manufacturing.

The popularity of yacht clubs and marinas, which provide numerous services and facilities to yacht owners and enthusiasts, is another factor driving the yacht market revenue growth. It is expected that the growing number of yacht clubs and marinas in developing countries including China and India is expected to further drive revenue growth of the yacht market.

Furthermore, it is expected that the yacht market will expand as a result of governments focusing more on promoting travel and leisure. Revenue growth of the market is expected to be further accelerated by the development of infrastructure and facilities for yachts and other recreational vessels. For instance, the Sagarmala project, which aims to build maritime infrastructure and increase tourism in coastal areas, was started by the Indian government.

Competitive Landscape:

Azimut Benetti Group
Bavaria Yachts
Ferretti Group
Malibu Boats, Inc.
Princess Yachts International plc
Sunseeker International Ltd.
Viking Yacht Company
Mercury Marine
Sea Ray Boats
HanseYachts AG

The global market is further segmented into type and application:

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

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
Latin America (Brazil, Rest of LATAM)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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