The global yacht market size reached around USD 53.80 Billion in 2023. The market is projected to grow at a CAGR of 4.30% between 2024 and 2032 to reach nearly USD 78.59 Billion by 2032.
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Historical Year
Forecast Year
The financial wealth of high-net-worth individuals (HNWIs) increased from USD 82,919 billion in 2022 to USD 86,790 billion in 2023, boosting the luxury yacht market revenue. As wealth accumulates among individuals, their inclination towards acquiring luxury assets, including yachts, intensifies, thereby elevating the demand for custom vessels and premium services. The growing interest in yachts among high-net-worth individuals is fuelled by their pursuit of luxury, privacy, and exclusivity. Yachts provide tailored experiences, access to secluded locations, and elevated recreational opportunities, which resonate with the lavish lifestyle of affluent consumers in search of opulence.
At the beginning of 2021, the global fleet of superyachts measuring over 30 metres comprised 5,245 vessels. Notably, 84% of this fleet consists of motor yachts. The rising appeal of luxury tourism and tailored travel experiences is driving the demand for yachts, as more consumers pursue high-end leisure options. Additionally, advancements in yacht manufacturing technology, including hybrid propulsion systems, smart technologies, and sustainable materials, are attracting environmentally conscious buyers.
The trend of customisation in yachts is on the rise, as customers increasingly desire distinctive and personalised experiences. Yacht owners are now requesting bespoke interiors, creative layouts, and cutting-edge technologies that align with their lifestyles and preferences. The use of sustainable materials, hybrid propulsion systems, and one-of-a-kind designs is becoming more prevalent. This movement enables yacht manufacturers to address specific tastes, thereby enhancing exclusivity and fostering innovation within the luxury yacht market.
Value in USD Billion
2024-2032
Yacht Market Outlook
*this image is indicative*
The yacht market growth can be attributed to the rising number of high-net-worth individuals, escalating interest in luxury travel and sailing experiences, innovations in yacht production technology, and the growth of marine tourism in emerging regions
The worldwide rise in affluent individuals has led to an increased demand for luxury yachts, as they seek distinctive and exclusive recreational experiences.
There is a significant surge in luxury tourism, with an increasing number of individuals choosing tailored and premium travel options, thereby enhancing the market for yacht charters and ownership.
Developments such as hybrid propulsion systems, sophisticated navigation tools, and sustainable materials are rendering yachts more attractive to environmentally aware consumers.
Regions such as the Middle East and the Asia Pacific are enhancing their marine infrastructure, drawing in tourists and investors, which, in turn, fosters the yacht market expansion.
The market is propelled by the growth of luxury tourism, a rising number of high-net-worth individuals, and an increasing demand for tailored travel experiences. Innovations in technology, such as hybrid propulsion systems and environmentally friendly designs, attract buyers who prioritise sustainability. The expansion of marine tourism in emerging markets within the Asia Pacific and Middle East is also leading to the market expansion. This expansion is further bolstered by advancements in yacht manufacturing that emphasise sustainability and state-of-the-art luxury attributes.
The EMR’s report titled “Global Yacht Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Breakup by Type
Breakup by Length
Breakup by Propulsion
Breakup by Region
Based on propulsion, the market is segmented into motor yacht and sailing yacht. The motor yacht segment is projected to grow at a CAGR of 5.6% during the forecast period of 2024-2032. A motor yacht is a high-end vessel driven by engines, intended for leisurely cruising. It provides comfort and speed, along with features such as ample cabins, entertainment zones, and outdoor areas for recreational pursuits.
Major players in the yacht market are focusing on the adoption of advanced technologies to gain a competitive edge in the market.
Founded in 1927 and based in Gorinchem, the Netherlands, Damen Shipyards Group is dedicated to the design and construction of various types of vessels, including yachts, military ships, and workboats. The company is celebrated for its pioneering shipbuilding methods and commitment to sustainable maritime practices.
Founded in 1958 and located in Ameglia, Italy, Sanlorenzo S.p.A. stands as a prominent manufacturer of luxury ...
Established in 1964 and situated in New Jersey, United States, Viking Yacht Company is a family-operated enter...
Founded in 1949 and headquartered in Haarlem, the Netherlands, Feadship Holland B.V. is a leading manufacturer...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other major players in the yacht market are Azimut Benetti S.p.A., Heesen Yachts Sales B.V., Sunseeker International Limited, Ferretti S.p.A., Alexander Marine USA, and Princess Yachts Limited, among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market attained a value of nearly USD 53.80 Billion.
The market is assessed to grow at a CAGR of 4.30% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 78.59 Billion by 2032.
The major drivers of the market are the rising population of high-net-worth individuals and innovation in yacht production technology.
As per the EMR report, the different propulsion of yacht in the market are motor yacht and sailing yacht.
The major regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major players in the market are Damen Shipyards Group, Sanlorenzo S.p.A, Viking Yacht Company, Feadship Holland B.V., Azimut Benetti S.p.A., Heesen Yachts Sales B.V., Sunseeker International Limited, Ferretti S.p.A., Alexander Marine USA, and Princess Yachts Limited, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Length |
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| Breakup by Propulsion |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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