Yacht Market registered a profitable valuation of USD 12.9 billion in 2024 and is poised to reach USD 33.1 billion in 2037, expanding at a profitable CAGR of 7.5% during the forecast period, i.e., 2025-2037. In 2025, the industry size of yacht is estimated at USD 13.8 billion. The growth of the market is attributed to increasing investments in luxury marine tourism prompting greater demand for yachts. Motor yachts lead to a surge in demand owing to the versatility of diverse marine activities. Additionally, increasing disposable incomes among individuals with high net worth benefits the market’s growth by boosting demand for luxury yachts. For instance, in May 2024, a hydrogen-powered superyacht manufactured by RWD was launched and was up for sale at an estimated price of USD 647 million.
The yacht market is poised for robust growth owing to rising acquisitions by private and corporate buyers seeking to diversify their portfolios by adding unique and high-status assets. Advancements in yachts are positioned to usher new revenue streams in the market. Manufacturers are developing electric and hybrid yachts that lower carbon emissions and appeal to environmentally conscious customers. Additionally, the surge in social media travel influencer trends benefits the growth of the yacht market, by positioning yachts as key features of luxury travel. With the global tourism industry regaining its profit surge after the COVID-19 pandemic, the demand for luxury yachts by tourists is poised to boom.
The pandemic shifted global perceptions of remote work leading to the rise in the digital nomad lifestyle. The trends have opened new opportunities for yacht operators to position yachts as retreats in vacation rental. For instance, there over 40 million digital nomads globally in 2024, leading to favorable opportunities for the growth of the yacht sector. Corporations and individuals with high net worth are continuously investing in yachts and superyachts with advanced communication facilities, luxury office spaces, and amenities that support extended stays. These trends are poised to create a steady demand for multi-purpose yachts. With the next decade promising to usher new advancements in yachts with integrated smart systems, the global yacht market is positioned to continue its profitable growth by the end of the forecast period.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
7.5% |
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Base Year Market Size (2024) |
USD 12.9 billion |
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Forecast Year Market Size (2037) |
USD 33.1 billion |
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Regional Scope |
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Type (Cruiser Yacht, Sport Yacht, Flybridge Yacht)
By type, the cruiser yacht segment is projected to account for yacht market share of around 61.5% by 2037. The segment’s growth is attributed to rising demands for long-distance, recreational vessels. Cruiser yachts are positioned as ideal for adoption in extended trips along open waters and coastlines owing to their robust build and range. Additionally, the large-scale increase in tourist footfall in the Caribbeans and Mediterranean regions are driving demands for cruiser yachts in popular tourist destinations. Luxury yacht operators are leveraging the burgeoning demand for cruiser yachts by providing customized yacht voyages for tourists. For instance, in June 2024, Four Seasons Yachts announced 13 additional Mediterranean voyages for 2026.
The sport yacht segment of the global yacht sector is poised to increase its revenue share by the end of the forecast period. The segment’s growth is attributed to surging demands among thrill-seeking yacht enthusiasts and the rising popularity of sailing sports in various regions. For instance, the Ocean Race Atlantic is set to launch in 2026. Additionally, sports yachts are increasingly being equipped with powerful engines that make them appealing to new demographics of buyers. Businesses are identifying the potential of the segment is evidenced by recent acquisitions. For instance, in October 2024, sports yacht company Sunseeker International was sold to Orienta Capital and Lionheart Capital.
Propulsion (Motor, Sail)
By propulsion, the motor segment of the global yacht market is projected to register a large revenue share during the forecast period. The segment’s growth is attributed to reliability over extended distances for customers who seek upscale leisure vessels. Motor yachts are powered by powerful engines and have been positioned as suitable for rapid transit along coastlines or long-distance cruising. Additionally, integration of automated navigation systems is poised to improve user experience benefiting the growth of the segment. Manufacturers are integrating advanced hull designs to improve motor yachts. For instance, in April 2024, Hoek Design launched the new 33 m, classically styled motor yacht in Istanbul, Turkey.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Propulsion |
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Length |
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North America Market Forecast
North America in yacht market is expected to capture around 36.4% revenue share by the end of 2037. The market’s growth is owed to high rate of disposable income in the region and a burgeoning recreational boating culture that drives demands for yachts. The region’s profit share is led by the U.S. and Canada. A significant driver of the market in North America is increasing interest in yacht ownership and rentals by affluent customers for exclusive travel experiences post-pandemic. For instance, on October 2o24, the 136-meter superyacht Flying Fox was made available for charter globally.
The U.S. is poised to register the largest revenue share in the yacht sector of North America. The yacht market’s growth is attributed to a culture of marine leisure activities driving demands for yachts of various types. Florida is a key location for domestic and international yacht buyers. Rising investments in high-performance yachts and demands for mega yachts are poised to propel a continued growth of the market in the country. For instance, in April 2023, Arco Technologies Inc. partnered with Baglietto for Bzero mega yacht hydrogen power system.
Canada is positioned to increase its revenue share in the yacht market by the end of the forecast period. The market’s growth in the country is attributed to abundant and scenic waterways and rising demands for mega luxury yachts. Rising demands for eco-friendly features in yachts are positioned to boost the market as manufacturers seek to curb emissions by developing electric and hydrogen-powered yachts. Additionally, yacht rentals are gaining popularity in the country as the tourism industry experiences a boom post-COVID-19. For instance, in August 2023, Le Boat from Europe announced its expansion in Canada by launching on the Trent Severn waterway.
Europe Market Analysis
The Europe yacht market is poised to register the largest revenue growth in the global yacht sector during the forecast period. A major driver of the sector’s growth is the well-established luxury tourism sector offering exclusive experiences along renowned coastlines. Additionally, Europe remains at the forefront of sustainable marine tourism demands prompting yacht builders to invest in electric vessels to curb emissions and adopt eco-friendly designs. The region boasts world-class coastal destinations that are leveraged by yacht rental businesses to offer customers premium luxury experiences. Businesses are developing new top-of-the-line yachts to cater to rising demands in the region. For instance, in October 2024, the NEXT Yacht Group announced the AB130 sports yacht to be undergoing final tests in Italy.
Germany is positioned to register a large share in the yacht sector of Europe. The yacht market’s growth is attributed to an established manufacturing sector in the country renowned for high-quality engineering, boosting demands for German-made yachts. Demands for custom-made superyachts are driving the domestic market as shipyards such as Abeking & Rasmussen have fostered a global reputation in building luxury yachts. For instance, in August 2023, Abeking and Rasmussen announced the launch of the superyacht LIVA which stands at 118.2 meters in length and employs a diesel-engine propulsion system.
France is projected to increase its revenue share in the yacht market of Europe owing to a well-established luxury tourism industry benefiting from yacht charters' demand from domestic and international clients. The domestic market leverages the Mediterranean coastline and high-end tourism appeal to boost its revenue share. The large-scale tourist footfall in the country is poised to assist the sector’s continued growth. Additionally, the French Riviera makes it a high-end destination for docking of luxury yachts. For instance, in October 2024, the 81-meter Feadship superyacht Air anchored in the south of France.
The global yacht market is poised to register a favorable growth curve during the forecast period. Shipyards are investing in customized luxury yachts to attract more buyers while yacht rentals are offering customized tours for the increasing number of tourists demanding yacht travel. The competitive market is characterized by the presence of global and local players vying to increase their revenue share.
Here are some key players in the yacht market:
Author Credits: Saima Khursheed
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