Luxury Yacht Market Outlook, Trends, Major Players, Industry Size, Demand and Forecast Report 2023-2028

The global luxury yacht market size reached US$ 7.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2028, exhibiting a growth rate (CAGR) of 9.8% during 2023-2028.


Nasir Jones

a year ago | 3 min read

According to IMARC Group’s latest report, titled “Luxury Yacht Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global luxury yacht market size reached US$ 7.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2028, exhibiting a growth rate (CAGR) of 9.8% during 2023-2028.

A luxury yacht represents a crewed sailing vehicle that is generally used for sports and recreational activities. It can be operated via wind sailing or by a propulsion system, such as a gas turbine and an internal combustion engine (ICE). A luxury yacht is commonly manufactured by using several materials, including fiberglass, wood, steel, aluminum, carbon fiber, treated wood with epoxy resins, etc. It is usually rented or charted by private entities and accommodated with luxurious, sophisticated, and personalized facilities, such as a jacuzzi spa, sauna, gymnasium, sun pads, etc. In line with this, a luxury yacht is also equipped with modern style, design, comfort, and technologically advanced components to improve overall performance and user experience.

Request a Free PDF Sample of the Report:

Market Trends and Drivers:

The expanding recreational tourism sector is primarily driving the luxury yacht market. Additionally, the emerging trend of remote explorations and the growing consumer inclination towards leisure, sports activities, and luxurious experiences are further catalyzing the market growth. Besides this, luxury yachts are provided on lease by yacht fleet operators for organizing business meetings and events, which is acting as another significant growth-inducing factor. Moreover, the widespread adoption of advanced structural materials, such as fiberglass, and the introduction of customized solutions according to specific requirements and designs are positively influencing the global market. Apart from this, the rising expenditure capacities of individuals and the increasing utilization of alternative fuels in the marine industry are also bolstering the market growth. Furthermore, the launch of numerous favorable policies by government bodies to facilitate effortless leasing procedures for promoting tourism is anticipated to fuel the luxury yacht market over the forecasted period.

Luxury Yacht Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the luxury yacht market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • 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

Key Market Segmentation:

The report has segmented the global luxury yacht market based on type, size, material, application and region.

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

Breakup by Region:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures:

Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US:
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800


Created by

Nasir Jones







Related Articles