Global Luxury Yacht Market Report 2023: Rapid Urbanization and Along with Significant Growth in Recreational Tourism Fuels the Sector - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Luxury Yacht Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global luxury yacht market size reached US$ 7.2 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 12.7 Billion by 2028, exhibiting a CAGR of 9.92% during 2022-2028.

Companies Mentioned

• Alexander Marine International
• Azimut - Benetti S.P.A.
• Brunswick Corporation
• Christensen Shipyards LLC
• Damen Shipyards Group N.V.
• Feadship Holland B.V.
• Fincantieri S.p.A. (CDP Industria S.p.A.)
• Heesen Yachts Sales B.V
• Horizon Yacht USA
• Palumbo Group S.P.A
• Princess Yachts Limited
• Sanlorenzo S.p.A.
• Sunseeker International (Wanda Group)
• Viking Yacht Company

A luxury yacht is a crewed sailing vehicle that is primarily used for recreational activities and sports. It can be operated through wind sailing or by a propulsion system, such as an internal combustion engine (ICE) and gas turbine. Luxury yachts are commonly manufactured using various materials, such as steel, aluminum, fiberglass, wood, carbon fiber and treated wood with epoxy resins.

They are usually charted or rented by private entities and accommodated with sophisticated, luxurious and personalized facilities, such as jacuzzi spa, gymnasium, sauna and sun pads. They are also equipped with modern design, style, comfort and technologically advanced components to enhance the overall performance of the yacht and user experiences.

Rapid urbanization, along with significant growth in the recreational tourism sector, is one of the key factors creating a positive outlook for the market. Furthermore, the emerging trend of remote explorations is also providing a boost to the market growth. There is an increasing preference for leisure, sports activities and luxurious experiences by individuals across the globe. Luxury yachts are provided on lease by yacht fleet operators for organizing business meetings, recreational activities and events.

Additionally, the utilization of advanced structural materials, such as fiberglass, and the development of customized solutions according to specific requirements and designs, are also contributing to the market growth. Other factors, including rising expenditure capacity of the consumers, along with the utilization of alternative fuels in the marine industry, are expected to drive the market further.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global luxury yacht market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, size, material and application.

Breakup by Type:

• Sailing Luxury Yacht
• Motorized Luxury Yacht
• Others

Breakup by Size:

• 75-120 Feet
• 121-250 Feet
• Above 250 Feet

Breakup by Material:

• FRP/ Composites
• Metal/ Alloys
• Others

Breakup by Application:

• Commercial
• Private

Key Questions Answered in This Report

1. What was the size of the global luxury yacht market in 2022?

2. What is the expected growth rate of the global luxury yacht market during 2023-2028?

3. What are the key factors driving the global luxury yacht market?

4. What has been the impact of COVID-19 on the global luxury yacht market?

5. What is the breakup of the global luxury yacht market based on the type?

6. What is the breakup of the global luxury yacht market based on the size?

7. What is the breakup of the global luxury yacht market based on material?

8. What is the breakup of the global luxury yacht market based on the application?

9. What are the key regions in the global luxury yacht market?

10. Who are the key players/companies in the global luxury yacht market?

For more information about this report visit https://www.researchandmarkets.com/r/oy18sr

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