Luxury Yacht Market Report 2025 (Global Edition)

Global Luxury Yacht Market Report 2025 Market Size Split by Type Outlook: (Sailing Luxury Yacht, Motorized Luxury Yacht), by Application Outlook: (Personal Use, Commercial Use), by Hull Material Outlo...

Luxury Yacht Market Report Description

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Competitive Landscape of the Luxury Yacht Market

In the Luxury Yacht market's competitive landscape, numerous key competitors are driving innovation and growth. These companies are known for their innovative designs, high-quality craftsmanship, and exceptional customer service. However, the market is also fragmented, with several smaller players offering niche products and services. The competitive landscape is further complicated by the increasing demand for customization and personalization, as well as the growing popularity of charter yachts.

In April 2023, Ferretti Group introduced the Pershing 140. It is the business's first flagship model, and it is made entirely of aluminum at the Ancona facility. Four 2,600 horsepower MTU 16V 2000 M96L engines power the Pershing 140 yacht, enabling it to cruise at 35 knots and reach a maximum speed of 38 knots. (Source: https://www.ferrettigroup.com/en-us/News-and-events/Detail/t/Fourth-Pershing-140-launched/y/2024/n/2318) In May 2023, the Kadey-Krogen Group (Florida) purchased American Tugs in LaConner, Washington. Founded in 1999, American Tugs is a well-known manufacturer of premium coastal cruisers in the United States, with a sizable clientele in North America and Europe. From its 2,600-square-meter facilities, the company has supplied five commercial vessels and more than 250 cruising yachts. (Source: https://www.kadeykrogen.com/kadey-krogen-group-acquires-american-tugs/) In June 2023, Sanlorenzo launched Para Bellum, a 47-meter adventure boat. It is the tenth yacht in the company's popular 460–500 EXP series. The twin Caterpillar engines power it, which can cruise at 13 knots. (Source: https://www.superyachttimes.com/yacht-news/sanlorenzo-explorer-yacht-para-bellum-launched)

Top Companies Market Share in Luxury Yacht Industry: (In no particular order of Rank)

• Azimut Benetti S.p.A. (Italy)
• Sanlorenzo S.p.A (Italy)
• Ferretti Group (Italy)
• Feadship (Netherlands)
• Princess Yachts (U.K.)
• Sunseeker Yachts(UK.)
• Fr. Lurssen Werft GmbH & Co. KG (Germany)
• ISA Yachts (Italy)
• Ocean Alexander (Taiwan)
• Kingship Marine Limited (China)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Luxury Yacht Market

Which Region Dominates the Luxury Yacht Market in 2024?

According to Cognitive Market Research, North America currently dominates the Luxury yacht market, and the region is expected to have significant growth during the projected period. This is due to its high-income individuals seeking luxury yachts for recreational purposes and leisure. The European market, especially in Mediterranean countries like France, Italy, and Spain, benefits from a longstanding tradition of yachting and luxury lifestyles. The combination of high disposable incomes, favorable climate conditions, and sophisticated infrastructure supports a thriving luxury yacht market in these regions. Meanwhile, the Asia-Pacific region is catching up rapidly with increasing interest from affluent Chinese and Japanese consumers.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). Factors driving this rapid growth include increasing disposable incomes, a rising middle-class population with a penchant for high-end lifestyles, and an expanding network of high-net-worth individuals in countries like China and India. The region's booming tourism sector and demand for leisure activities also contribute significantly to the market's growth. Additionally, favorable economic conditions, government incentives for luxury purchases, and a surge in marine tourism further boost the demand for luxury yachts in the Asia Pacific. These factors collectively make the region the fastest-growing market for luxury yachts in 2024.

The current report Scope analyzes Luxury Yacht Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Luxury Yacht

According to Cognitive Market Research, the global Luxury Yacht market size was estimated at USD 8961.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 3584.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Luxury Yacht market with a market size of USD 2828.25 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. The US market's Affluent population, rising disposable incomes, coastal access, and a culture of luxury.
• The Canada Luxury Yacht market had a market share of USD 430.15 million in 2024 and is projected to grow at a CAGR of 8.0% during the forecast period. Canada's luxury yacht market is growing due to rising disposable incomes, increased demand for recreational activities, and stunning coastlines.
• The Mexico Luxury Yacht market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 326.20 million in 2024.

Europe Luxury Yacht

According to Cognitive Market Research, the global Luxury Yacht market size was estimated at USD 8961.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 2688.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.

• The United Kingdom Luxury Yacht market had a market share of USD 451.66 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. In the UK, Luxury Yacht sales witness an upswing due to rising disposable income, leisure activities, and increasing interest in luxury experiences.
• The French luxury Yacht market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 247.34 million in 2024.
• According to Cognitive Market Research, the German Luxury Yacht market size was valued at USD 532.31 million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period. In Germany, Luxury yachts surged due to the rising disposable income, increasing interest in water sports, and a strong manufacturing base.
• The Italy Luxury Yacht market is projected to witness growth at a CAGR of 6.9% during the forecast period, with a market size of USD 231.21 million in 2024.
• The Russian luxury Yacht market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 416.71 million in 2024.
• The Spain Luxury Yacht market is projected to witness growth at a CAGR of 6.6% during the forecast period with a market size of USD 220.45 million in 2024
• The Luxembourg Luxury Yacht market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 83.34 million in 2024.
• The Portugal Luxury Yacht market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 56.46 million in 2024.
• The Greece Luxury Yacht market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD 32.26 million in 2024.
• The Rest of Europe's Luxury Yacht market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 416.71 million in 2024.

Asia Pacific Luxury Yacht

According to Cognitive Market Research, the global Luxury Yacht market size was estimated at USD 8961.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 2061.15 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Luxury Yacht market size was valued at USD 927.52 million in 2024 and is projected to grow at a CAGR of 10.5% during the forecast period. Luxury yachts surged in China due to rising wealth, leisure culture, and coastal cities, which fueled the demand for luxury yachts.
• The Japan Luxury Yacht market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 284.44 million in 2024.
• The India Luxury Yacht market had a market share of USD 247.34 million in 2024 and is projected to grow at a CAGR of 12.8% during the forecast period. India's growing affluent class and coastal cities drive luxury yacht demand .
• The South Korean Luxury Yacht market is projected to witness growth at a CAGR of 10.1% during the forecast period, with a market size of USD 206.11 million in 2024.
• The Australian Luxury Yacht market is projected to witness growth at a CAGR of 10.7% during the forecast period, with a market size of USD 107.18 million in 2024.
• The South East Asia Luxury Yacht market is projected to witness growth at a CAGR of 12.0% during the forecast period, with a market size of USD 142.22 million in 2024.
• The Rest of Asia Pacific Luxury Yacht market is projected to witness growth at a CAGR of 10.8% during the forecast period, with a market size of USD 146.34 million in 2024.

South America Luxury Yacht

According to Cognitive Market Research, the global Luxury Yacht market size was estimated at USD 8961.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 448.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Luxury Yacht market size was valued at USD 191.78 million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period. Luxury Yachts flourished in Brazil due to growing luxury yacht market thrives on rising disposable income, increasing interest in leisure activities, and the allure of its stunning coastline.
• Argentina's Luxury Yacht market had a market share of USD 75.28 million in 2024 and is projected to grow at a CAGR of 9.3% during the forecast period. Argentina's luxury yacht market is growing due to rising disposable incomes, a growing number of high-net-worth individuals, and the increasing popularity of yachting as a leisure activity .
• Colombia's Luxury Yacht market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 39.88 million in 2024.
• Peru Luxury Yacht market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 36.74 million in 2024.
• Chile's Luxury Yacht market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 32.26 million in 2024.
• The Rest of Latin America's Luxury Yacht market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 72.14 million in 2024.

Middle East Luxury Yacht

According to Cognitive Market Research, the global Luxury Yacht market size was estimated at USD 8961.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 179.23 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031..

• The GCC Countries Luxury Yacht market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 76.71 million in 2024. Luxury Yacht sales flourish due to rising wealth, favorable government policies, and growing interest in luxury experiences fuel.
• The Egypt Luxury Yacht market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 18.82 million in 2024.
• The South African luxury Yacht market is projected to witness growth at a CAGR of 9.7% during the forecast period, with a market size of USD 28.32 million in 2024. Luxury Yacht sales flourished in South Africa due to Beautiful coastlines, increasing wealth, rising tourism, favorable tax policies, and growing interest in luxury experiences.
• The Turkey Luxury Yacht market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 15.41 million in 2024.
• The Nigeria Luxury Yacht market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD 18.82 million in 2024.
• The Rest of the MEA Luxury Yacht market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 21.15 million in 2024.

Luxury Yacht Market Analysis

How are Segments Performing in the Global Luxury Yacht Market?

Luxury Yacht Market Type Segment Analysis

According to Cognitive Market Research, The sailing luxury yacht market is experiencing significant growth, driven by increasing disposable incomes, a desire for exclusive experiences, and the appeal of eco-friendly travel. Sailing yachts offer a unique blend of adventure and relaxation, allowing owners to explore remote destinations and immerse themselves in nature. As the demand for sustainable luxury continues to rise, sailing yachts are becoming an increasingly popular choice for discerning travelers.

Motorized luxury yachts dominate the luxury yacht market due to their speed, versatility, and ability to travel long distances. They offer spacious interiors, advanced technology, and luxurious amenities, making them ideal for both recreational and business purposes. The growing demand for personalized experiences and the increasing wealth of the global elite further drive the popularity of motorized yachts.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Luxury Yacht Industry. Request a Free Sample PDF!

Luxury Yacht Market Application Segment Analysis

According to Cognitive Market Research, The personal use luxury yacht market is rapidly expanding. Wealthy individuals view yachts as symbols of success, prestige, and a luxurious lifestyle. This trend is driven by factors such as rising disposable incomes, urbanization, and a growing population of high-net-worth individuals.

In the Luxury Yacht Market, Luxury yachts are increasingly used for commercial purposes, with charter services being a major driver. Yachts are rented out for vacations, corporate events, and special occasions, generating significant revenue. Additionally, some yacht owners offer their vessels for filming and photography, expanding their commercial potential. This trend is particularly evident in popular tourist destinations and yachting hubs, where demand for luxury charter experiences is high.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Luxury Yacht Hull Material Outlook: Segment Analysis

Luxury Yacht Market Hull Material Segment Analysis

According to Cognitive Market Research, Fiber Reinforced Polymers (FRP) and composites are revolutionizing the luxury yacht market. These materials offer several advantages over traditional materials like steel and aluminum. They are lightweight yet incredibly strong and durable, making yachts more fuel-efficient and easier to handle. FRP/composites are also highly resistant to corrosion, a major concern in marine environments. Additionally, they offer unparalleled design flexibility, allowing for intricate and personalized yacht designs. As a result, FRP/composites are rapidly becoming the preferred material for luxury yacht construction, driving the growth of this market segment.

In the Luxury Yacht market, the rapidly growing sector of Metals and alloys dominates the luxury yacht market due to their strength, durability, and customization potential. Steel and aluminum are popular choices, offering high structural integrity and resistance to corrosion. These materials allow for complex designs and accommodate heavy machinery. While fiberglass and composites are gaining traction for their lightweight properties, metals and alloys remain the go-to choice for large, high-performance luxury yachts.

• Fiber Reinforced Polymers and Composites
• Metals and Alloys

Luxury Yacht Size Outlook: Segment Analysis

Luxury Yacht Market Size Segment Analysis

According to Cognitive Market Research, The "Up to 20 Meters" segment is the fastest-growing luxury yacht market due to its affordability, versatility, and ease of ownership. These yachts are perfect for both leisure and commercial purposes, attracting a wide range of buyers. Additionally, manufacturers are focusing on innovative designs and advanced technologies to enhance the overall yacht experience, further driving growth in this segment.

The 20~50 meter segment dominates the luxury yacht market, holding a 56.9% revenue share in 2023. This segment is projected to grow at the fastest rate (5.5%) from 2024 to 2030. Factors driving this growth include lower maintenance costs, fuel savings, reduced moorage fees, and versatile usability. While the up-to-20-meter segment is also expected to grow significantly, the 20~50-meter segment maintains its leading position due to its optimal balance of size and functionality.

• Up to20 Meters
• 20~50 Meters
• 50 Meters or More

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Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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