United States Luxury Yacht Market Report and Forecast 2024-2032

United States Luxury Yacht Market Outlook

The United States luxury yacht market size was approximately USD 3.40 billion in 2023. The market is further projected to grow at a CAGR of 8.3% between 2024 and 2032, reaching a value of around USD 7.09 billion by 2032.

Key Trends in the Market

A luxury yacht is a high-end and opulent watercraft crafted for recreational pursuits. Typically owned privately or chartered exclusively, these vessels boast impressive dimensions, often spanning from 80 to over 300 feet, and provide abundant room for lavish amenities and extravagant features.

Luxury yachts are fashioned and crafted with the finest materials, advanced engineering, and cutting-edge technology. These opulent vessels encompass multiple spacious decks, along with features such as swimming pools, hot tubs, sunbathing areas, helipads, cinemas, spas, gyms, and even mini-submarines.

• The United States luxury yacht market growth can be attributed to the healthy economic growth of the country and the growing disposable incomes of individuals, resulting in heightened consumer spending capacities on luxury goods and experiences. Luxury yachts serve as symbols of prestige and wealth, drawing in affluent individuals who aspire to access exclusive and luxurious recreational options.

• The rising popularity of recreational boating and maritime activities in the United States, coupled with the country's extensive coastline, numerous lakes, and rivers, provides lucrative opportunities supporting the United States luxury yacht market demand. Besides, the growing interest among yacht owners in remote exploration is further bolstering the market expansion.

• One of the key United States luxury yacht market trends includes the shift towards eco-friendly yacht designs. Yachts made from recycled and organic materials such as natural composites and aluminium, among others, through sustainable construction processes are gaining significant popularity among eco-conscious customers.

Moreover, the growing adoption of hybrid electric solutions and other low-carbon technologies that can improve the energy efficiency of yachts is likely to propel the market growth in the coming years.

Market Analysis

Based on size, the market is segmented into 75-120 feet, 121-250 feet, and above 250 feet. On the basis of type, the market can be bifurcated into sailing luxury yacht and motorised luxury yacht, among others. Based on material, the United States luxury yacht market segmentation includes FRP/composites and metal/alloys, among others.

On the basis of application, the market can be bifurcated into commercial and private. The major regional markets for luxury yacht in the United States are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States luxury yacht market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Westport Yachts

• Christensen Shipyards, LLC

• Horizon Yacht USA

• Burger Boat Company

• Derecktor Shipyards Conn., LLC.

• Hargrave Custom Yachts.

• Sunseeker International Limited 

• Alexander Marine International Co., Ltd. 

• Heesen Yachts Sales B.V.

• Princess Yachts Limited

• Others

Market Share by Type

Motorised luxury yachts represent a significant portion of the United States luxury yacht market share. These yachts are characterised by powerful engines that offer them the capability to navigate waters with ease and speed. The appeal of motorised luxury yachts lies in their advantages, such as faster cruising speeds, improved manoeuvrability, and the ability to access a wider range of destinations.

Market Share by Size

As per the United States luxury yacht market analysis, 75-120 feet luxury yachts address a diverse array of preferences and usage scenarios as they boast generous interior and exterior spaces, accommodating multiple cabins, lounges, and entertainment areas. Striking a balance between privacy and socialisation, they prove ideal for family vacations and corporate events. Furthermore, their moderate size facilitates easy navigation in various cruising destinations, including coastal areas, islands, and ports.

Despite the allure of larger superyachts that attract high-profile buyers seeking extravagant luxury, the 75-120 feet luxury yachts have carved a substantial niche in the market. They appeal to a broader spectrum of yacht enthusiasts, making them a preferred choice for both ownership and chartering, offering a compelling balance of size, amenities, and accessibility.

Competitive Landscape

Westport Yachts, founded in 1964, is engaged in providing wide variety of vessels, ranging from commercial fishing boats and fast passenger ferries to luxurious motor yachts. The company uses cutting-edge composite technologies and materials, such as infusion, resin impregnation, and advanced coring materials, to construct vessels that are characterised by a combination of lightweight design and superior strength. The strategic use of advanced composites contributes to the overall durability and performance of the company's vessels, ensuring a high level of quality in terms of both weight efficiency and structural integrity.

Christensen Shipyards, LLC, established in 2015, specialises in the design, construction, and repair of boats, and has particularly gained recognition for crafting luxury American motor yachts. The shipyard also has two 50-meter yachts in the process of construction and is open for purchase. Notably, Christensen Shipyards also provides the opportunity for prospective buyers to initiate the construction of an additional hull, showcasing their commitment to meeting the demand for bespoke, high-end yachting experiences.

Horizon Yacht USA, founded in 1987, stands as one of the leading yacht builders renowned for its cutting-edge technologies, premium materials, and some of the most skilled designers. Horizon Yachts operates four manufacturing facilities, each holding ISO 9001 certification.

Other market players operating in the United States luxury yacht market include Burger Boat Company, Derecktor Shipyards Conn., LLC., Hargrave Custom Yachts., Sunseeker International Limited, Alexander Marine International Co., Ltd., Heesen Yachts Sales B.V., and Princess Yachts Limited, among others.

Key Highlights of the Report

United States Luxury Yacht Market Report Snapshots

United States Luxury Yacht Market Size

United States Luxury Yacht Market Trends

United States Luxury Yacht Market Analysis

United States Luxury Yacht Companies