Skip to content

How will the global yacht industry develop in the coming years?

The yacht industry is expected to witness increased demand for yachts with long range capabilities and with ice-breaking hulls, given the growing desire of luxury yacht owners for adventure travels to remote locations such as Antarctica and Galapagos. As against the conventional compartmentalized layouts, there is a shift towards innovative designs with brighter and open-plan interiors. Yacht designs are also focused on outdoor areas for providing yacht travelers a direct and more intimate experience with the sea.

Owners are increasingly demanding high-tech features and gadgets to be integrated into their yachts. In addition to standard components such as jet skis, canoes and water skis, demand is rising for advanced gadgets such as hover boards, jetlev and skibob. Further, yachts with high-quality cinema rooms and media rooms are also gaining widespread popularity among potential customers.

Amid the COVID-19 crisis, the global market for Yacht Industry estimated at US$7.4 Billion in the year 2020, is projected to reach a revised size of US$10.8 Billion by 2026, growing at a CAGR of 6.2% over the analysis period. Super Yacht, one of the segments analyzed in the report, is projected to grow at a 6.5% CAGR to reach US$3.6 Billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Sport Yacht segment is readjusted to a revised 7.3% CAGR for the next 7-year period. This segment currently accounts for a 22.6% share of the global Yacht Industry market.

The Yacht Industry market in the U.S. is estimated at US$2.7 Billion in the year 2021. The country currently accounts for a 32% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$1.2 Billion in the year 2026 trailing a CAGR of 7.5% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.7% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.6% CAGR while Rest of European market (as defined in the study) will reach US$1.3 Billion by the end of the analysis period. While the presence of large number of wealthy and affluent people has a strong bearing on higher demand for yachts in the US and Europe, increased penchant for sea tours and marine entertainment among population also aids the yacht industry.

New and unexplored markets like Asia are attracting significant attention of yacht makers. Interest in yachts is surging, with the expanding UHNW and HNW population increasingly seeking to purchase these boats to augment their social status. One of the promising yachting hubs to emerge in recent times is Southeast Asia, with countries such as Indonesia and Thailand becoming popular destinations for luxury yachting. China is another market with significant growth potential in Asia-Pacific region. In China, yachting is emerging into a popular sport, with motor yachting particularly gaining immense acceptance.

The flybridge concept is growing in acceptance mainly for conducting corporate meetings, as it offers all the required amenities like air conditioning. In the global Flybridge Yacht segment, USA, Canada, Japan, China and Europe will drive the 6.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.2 Billion in the year 2020 will reach a projected size of US$1.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$109.3 Million by the year 2026.

Facebook
Twitter
LinkedIn
Email
Benetti Dyna® B.Now 50 for Luxury charter in the Mediterranean

Benetti Dyna® B.Now 50 for Luxury charter in the Mediterranean

Prepare to be enchanted by DYNA R, the newest addition to the world of luxury yacht charters. Scheduled to make…
Rossinavi Unveils the Seawolf X - A Hybrid-Electric Marvel

Rossinavi Unveils the Seawolf X - A Hybrid-Electric Marvel

Rossinavi, renowned for its prowess in luxury yacht craftsmanship, has once again pushed the boundaries of innovation with the launch…
Saudi MEGA Marina projects under the spotlight, NEOM

Saudi MEGA Marina projects under the spotlight, NEOM

The Greek government has recently taken significant steps towards enhancing its marine tourism and yachting infrastructure to keep pace with…
LA LA LAND a Lissoni Limited Edition Sanlorenzo X Space for luxury charter

LA LA LAND a Lissoni Limited Edition Sanlorenzo X Space for luxury charter

LA LA LAND is a floating paradise, offering a world-class charter experience that is truly unforgettable. Every detail of this…

Subscribe To Our newsletter

BE ALYWAYS UPDATED

Back To Top

Stay in touch with Marine Project

If you want to keep updated of the Marine Project latest news, special offers, investment, please take a minute and confirm your newsletter subscription today.

Marine Project Inc. will use the information you provide on this form to be in touch with you and to provide updates and marketing.
You can change your mind at any time by clicking the unsubscribe link in the footer of any email you receive from us