Yacht Market Size To Reach $13.29 Billion By 2030 | CAGR 5.1%

Yacht Market Growth & Trends

The global yacht market size is anticipated to reach USD 13.29 billion by 2030, registering a CAGR of 5.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The global market encompasses the design, construction, sale, and servicing of luxury watercraft ranging from small recreational boats to superyachts exceeding 100 feet in length. Yachts are often categorized by size, usage, and propulsion type, including motor yachts, sailing yachts, and hybrid or electric yachts. The market caters primarily to high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs). Technological advancements are introducing eco-friendly options like hybrid and electric propulsion systems, with Feadship leading the charge in hydrogen fuel-cell technology for a sustainable future.

Customization is also in high demand, with clients seeking bespoke vessels that reflect their unique tastes. Builders like Azimut Benetti Group, Damen Shipyards Group, Feadship, and Heesen offer varying levels of personalization, from fully designed yachts to semi-custom models. In addition, environmental consciousness is driving the use of eco-friendly materials and efficient engines, appealing to a new generation of yacht owners concerned about sustainability. Growth in yacht chartering services is expanding access to this lifestyle for a broader audience. This trend allows individuals to experience yachting without the high costs of ownership, with both short- and long-term charters available. Geographically, emerging markets in Asia Pacific and Europe are witnessing significant growth.

These regions are investing in maritime infrastructure, luxury marinas, and regulations to attract yacht owners and charterers. However, economic fluctuations can significantly impact disposable income, particularly for HNWIs and UHNWIs, leading to reduced purchases. Moreover, stringent environmental and safety regulations, which vary by region, can increase manufacturing costs and complicate compliance for global manufacturers. The market is highly competitive, with established players facing increasing pressure from emerging markets, necessitating continuous innovation and differentiation. High maintenance and operational costs deter potential buyers, and the industry must develop cost-effective solutions to ensure yacht ownership remains attractive.

Despite these challenges, the global market boasts established players renowned for their craftsmanship, innovation, and brand prestige. By capitalizing on trends of sustainability and personalized luxury experiences, key players can ensure growth opportunities for this high-end industry. The global market is competitive, with key players like Damen Shipyards Group, Azimut Holding Spa, FERRETTI S.p.A., Sanlorenzo Spa, and WANDA Group, dominating the industry. The competitive landscape of this market is characterized by the presence of both established and new players.

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Yacht Market Report Highlights

• The global market is expected to grow at a CAGR of 5.1% from 2024 to 2030 due to the rising disposable income and increased interest in leisure activities

• Manufacturers incorporate luxury features and improved performance characteristics to meet customer expectations. Increased availability of yacht rentals allows individuals to experience yachting without the high cost of ownership

• Composite materials are gaining popularity due to their corrosion resistance, lower maintenance costs, and better strength-to-weight ratio than traditional wood and fiber-reinforced polymers

• Advancements in telematics and the use of electronically controlled fuel injection systems are improving efficiency and reducing emissions

• The superyacht segment held the largest market share of 31.2% in 2023 due to their high popularity among UHNWIs

• The sport yacht segment is expected to register the highest growth rate of 5.9% from 2024 to 2030 due to the high speed & agility along with the growing popularity of these yachts in countries like China and France

• The 20 to 50 meters yacht length segment gained major traction due to lower maintenance costs, wind sailing capabilities, and shallower draft requirements

• Europe is among the leading regional markets and held a share of 38.9% of the global industry revenue in 2023

Yacht Market Segmentation

Grand View Research has segmented the global yacht market on the basis of type, length, propulsion, and region:

Yacht Type Outlook (Revenue, USD Million, 2017 - 2030)

• Super Yacht

• Sport Yacht

• Flybridge Yacht

• Long Range Yacht

• Others

Yacht Length Outlook (Revenue, USD Million, 2017 - 2030)

• 20 to 50 M

• Above 50 M

• Upto 20 M

Yacht Propulsion Outlook (Revenue, USD Million, 2017 - 2030)

• Motor Yacht

• Sailing Yacht

Yacht Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • Indonesia

• Latin America

  • Brazil

• Middle East & Africa (MEA)

  • United Arab Emirates (UAE)

  • Kingdom of Saudi Arabia (KSA)

  • South Africa

List of Key Players in Yacht Market

• Alexander Marine International (AMI) Co., Ltd.

• Azimut Benetti Group

• Damen Shipyards Group

• Feadship

• Ferretti SpA

• Flensburger Schiffbau Gesellschaft GmbH (FSG)

• Heesen Group

• Princess Yachts Limited

• Sanlorenzo SpA

• Sunseeker International

• Viking Yacht Company

• WANDA Group