Yacht Market Size Is Expected To Reach $9.0 Billion By 2025

The global yacht market size is expected to reach USD 9.0 billion by 2025, registering a CAGR of 5.6% over the forecast period, according to a new report by Grand View Research, Inc. 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. 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, HNWI accounts 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 of yachts 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, digitalization of propulsion systems has also significantly increased the efficiency of yachts, thus reducing fuel consumption.

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Yacht Market Report Highlights

• The yacht market is anticipated to experience substantial growth with a CAGR of 5.6% on account of the growing emphasis on marine tourism
• The sports segment is anticipated to register a higher CAGR over the forecast period owing to its increasing adoption in personal as well as sports applications
• The 20 to 50 ft length segment is expected to witness higher growth owing to the low operational cost, maintenance, and fuel consumption of yachts of this length size
• Asia Pacific is anticipated to register a higher CAGR over the forecast period owing to the presence of government initiatives to boost marine tourism and the rising disposable income of individuals
• The market is oligopolistic in nature and is dominated by key players such as Brunswick Corporation, Azimut Benetti S.p.A., Damen Shipyards Group, Heesen Group, The San Lorenzo S.p.a, Sunseeker International, Ferretti S.p.A., Alexander Marine International Co., Ltd. (AMI), and Princess Yachts Limited, among others.

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Yacht Market Segmentation

Grand View Research has segmented the global yacht market on the basis of type, yacht length, and region:

Yacht Type Outlook (Revenue, USD Million, 2014 - 2025)

• Super yacht
• Flybridge yacht
• Sport yacht
• Long range yacht
• Others

Yacht Length Outlook (Revenue, USD Million, 2014 - 2025)

• Up to 20 ft
• 20 to 50 ft
• Above 50 ft

Yacht Regional Outlook (Revenue, USD Million, 2014 - 2025)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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