According to a research report published by Azoth Analytics in July 2021, the Global Yacht Market was valued at USD 7.98 Billion in the year 2021. One of the most important factors impacting the yacht market is the increase in the UHNWI population. As the HNWI increases, the addressable customer base of the yacht industry also increases. This provides a strong tailwind for the manufacturers of yachts.
In addition to a growing customer base of UHNWIs, the size of their wealth is also expected to grow in the coming years. This would translate into an increasing average size of yachts or customers shifting towards models with a higher degree of customization and premium features. In both cases, this should support growth in the average selling price of yachts. Furthermore, the market has been growing over the past few years, due to factors such as growing demand for luxury tourism, rising construction of super yachts, a growing number of boat shows, favourable government initiatives, and increasing demand for yacht charter, etc.
The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as customization and personalization, acute focus on eco-friendly and sustainable products, the internet of things, yachts run quieter due to tech advances, explorer yachts are continuing to rise in popularity, etc.
Based on the Vessel Type, the market is segmented into Super/ Mega, Flybridge, Sport, Cruiser, and Others. The Super/ Mega yacht segment is expected to grow at a higher CAGR during the forecast period as the high share of this segment can be attributed to the high popularity of these yachts among the end-users.
Americas is estimated to hold the maximum share in the global Yacht Market in 2021. During the forecast period, Asia-Pacific is set to be the fastest-growing regional market. Furthermore, Asia-Pacific is seeing great growth as a result of a variety of factors. Several factors have contributed to the rapid growth of Yacht markets in Asia-Pacific.
Scope of the Report
The report analyses the Yacht Market By Value (USD Million) and by Volume (in numbers)
The report analyses the Yacht Market By Vessel Type (Super/ Mega, Flybridge, Sport, Cruiser, Others)
The report analyses the Yacht Market By Length (Up to 20 m, 20-50 m, Above 50 m)
The report analyses the Yacht Market By Application (Private Use, Commercial Use)
The report analyses the Yacht Market By Propulsion (Motor, Sailing)
The Global Yacht Market has been analysed by Countries (United States, Canada, Mexico, Brazil, United Kingdom, Germany, France, Italy, China, Australia, Japan)
The key insights of the report have been presented through the frameworks of Porters Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Vessel type, By Length, By Application, By Propulsion
Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
The report tracks competitive developments, strategies, mergers and acquisitions, new product development. The companies analysed in the report include Ferretti S.p.A., Sanlorenzo S.p.a., HanseYachts AG, Brunswick Corporation, Beneteau Group, Ocean Alexander, Azimut Benetti, Princess Yachts, Sunseeker International, Damen Group
The report presents the analysis of the Yacht Market for the historical period of 2016-2021 and the forecast period of 2022-2027.
Key Target Audience
Financial and Non-Financial Corporates, Retailers etc.
Government and Policy Makers
No matter the hour, weβre here to help.Contact us now!