The global Yacht market size is expected to be worth around US$ 22.16 billion by 2030, according to a new report by Vision Research Reports.
The global Yacht market size was valued at US$ 9.15 billion in 2020 and is anticipated to grow at a CAGR of 6.2% during forecast period 2021 to 2030.
The market is expected to witness significant growth owing to the increasing coastal and marine tourism activities across the globe. Furthermore, the rising standard of living and growing corporate tourism activities across the globe are expected to further drive the market.
The sports segment is expected to exhibit high growth owing to its use in personal activities as well as sports events. The increasing number of recreational sporting events, yacht trade shows, and events organized by OEMs are supporting the growth of the market in developed regions such as North America and Europe. A significant increase in the number of people participating year-on-year in marine recreational activities is also expected to further boost the market growth in these regions. Moreover, rising marine tourism and the growing population of high-net-worth individuals are also likely to contribute to the growth of the regional markets.
According to the World Bank, High-Net-Worth Individuals (HNWI) account for less than 1% of the world’s total population and more than 40% of the world’s total wealth. The growing HNWI population is driving the spending on leisure activities, including yacht travels. The demand for modern leisure yachts is particularly growing as it provides a connected experience while cruising, fishing, and so on.
The increasing adoption rate has compelled manufacturers to invest in research and development on building yachts using high-strength composite material for physical structures. Significant amounts of R&D budgets are also assigned for the integration of technologies such as IoT that enable the exchange of information through a single network. Furthermore, the digitalization of propulsion systems has also significantly increased the efficiency of yachts, thus reducing fuel consumption.
The super yacht segment dominated the market with a revenue share of more than 29% in 2020. The high popularity among the end-users is anticipated to bode well for the segment growth. The sport yacht is expected to emerge as the fastest-growing segment in the market. The segment growth can be attributed to the high demand for a sports yacht in countries such as China and France. These countries have witnessed the active participation of adults in recreational boating activities and sporting events. Sports yachts are used for marine tourism, sports tournaments, other recreational activities such as cruising, fishing, and other water sports activities.
Furthermore, increasing demand for recreational tournaments and growing affinity for outdoor recreational activities are expected to drive the segment growth. The recreational tournaments are also offering employment opportunities. They are emerging as a source of revenue generation for yacht caterers, clothing outlets, chandlers, and boat builders, among others. Boating can be considered a year-round activity as people tend to enjoy outdoor water sports activities in all seasons.
The motor yacht segment held the largest revenue share of more than 82% in 2020. The high share of this segment can be attributed to the benefits offered by these yachts including the high speed and power, large distance coverage, among others. Also, these yachts are highly preferred by the people for the advanced systems and equipment installed in the motor yachts. Modern equipment acts as a key enabler for the high sales of such yachts in the global market. Also, the segment is forecasted to emerge as the fastest-growing segment over the forecast period.
The sailing yachts use sails as a propulsion system and therefore depend upon the speed of the wind for movement. Although the sailing vessels can cover long distances, the design, deck space, and onboard facilities offered by the motor yachts makes them a more attractive option to the buyers. The rising focus on recreational activities and the increasing technological advancements is further anticipated to bolster the growth of motor yachts in the global market. The motor yacht market is expected to expand at a CAGR of 5.7% from 2021 to 2028.
The 20-to-50-meter segment dominated the market with a revenue share of over 54% in 2020. It is expected to continue to dominate the segment over the forecast period. The growth of the segment can be attributed to benefits such as low maintenance costs and light wind sailing capabilities that help save fuel and ensure traveling in a favorable wind direction. Additionally, benefits such as lower moorage costs and shallow drafts for water anchorages are also making this length size a preferred choice among the users.
Yachts with length sizes ranging up to 20 m can be used for both competitive as well as recreational purposes. Furthermore, in North America and Europe, the emerging trend of using renewable energy such as solar energy and wind energy in sea vessels is most likely to play an important role in reducing fuel usage and emissions from ships. A yacht of this length size operating on renewable energy is generally compact and lightweight as it requires less energy to sail. This is also a prominent factor augmenting the growth of the up to 20 m segment.
Europe accounted for the largest market share with a revenue contribution of over 35% in 2020 in the global market. The high share can be attributed to the increased yacht sales in the region. The demand in European countries is majorly driven by factors such as an increasing number of HNWI and the growing popularity of water sports and fishing activities. In the upcoming years, passenger traffic in coastal and marine tourism is expected to increase drastically due to the attractiveness of the region and recent supportive policies. This is anticipated to increase in investments in coastal areas and recreational activities such as fishing, sail training adventures, white-water rafting, kayaking, and one-day boating adventures, in addition to scuba diving, free diving, and snorkeling. The increasing number of trade shows hosted by manufacturers and recreational boating events are supporting the market growth in the region.
Asia Pacific is anticipated to emerge as the fastest-growing regional market over the forecast period. The rise in disposable income and improved standard of living are some of the critical factors responsible for the changing preference of the regions’ populace for yacht travel. Furthermore, government initiatives for the development of tourism activities such as the Swadesh Darshan Scheme and Incredible India are expected to boost the regional market growth over the forecast period. However, countries facing economic crises, political instability, and stringent FDI policies are anticipated to negatively influence growth. Furthermore, the surging demand for recreational activities supported by the increasing participation of people in marine recreational activities in countries such as Singapore, Thailand, China, and Australia is also expected to bolster the growth of the regional market.
Azimut Benetti S.p.A.
Damen Shipyards Group
The San Lorenzo S.p.a
Alexander Marine International Co., Ltd. (AMI)
Princess Yachts Limited
Viking Yacht Company
Long Range Yacht
Yacht Length Outlook
Up to 20 Meters
Above 50 Meters
Middle East & Africa (MEA)
The Yacht market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Yacht market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Yacht market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Yacht market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Yacht market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Yacht capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Yacht by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Yacht market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Yacht market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Yacht market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Yacht industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Yacht market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Yacht market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Yacht market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Yacht market. These factors have benefited the growth of the global market for Yacht. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Yacht. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Yacht are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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