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Yacht Market Trends

  • Report ID: GMI5108
  • Published Date: Oct 2023
  • Report Format: PDF

Yacht Market Trends

Hybrid & electric propulsion is an emerging trend in the yacht business owing to the growing focus on environmental sustainability. Yacht buyers are increasingly seeking eco-friendly alternatives to traditional fuel-powered engines. Hybrid systems combine conventional engines with electric propulsion systems, thereby reducing emissions and fuel consumption. On the other hand, electric propulsion offers zero-emission cruising.

 

Customization and personalization are emerging trends in the yacht market as buyers are increasingly prioritizing individuality and unique experiences. Yacht manufacturers now offer extensive customization options, allowing customers to design vessels that align with their specific desires such as the creation of bespoke interiors, the selection of unique amenities, or layout configurations. This trend caters to discerning clientele seeking a sense of exclusivity and personalization, thereby reflecting the shift from mass-produced yachts to tailored & one-of-a-kind vessels that fulfill the unique lifestyles and aesthetic preferences of owners.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of yacht was worth USD 11.04 billion in 2022 and will register 6.7% CAGR from 2023 to 2032, due to the increasing technological advancements, such as advanced navigation systems, eco-friendly propulsion systems, and onboard automation in yacht systems worldwide.

Yacht market from the cruiser type segment held over 60% revenue share in 2022 and is expected to witness significant growth from 2023 to 2032, on account of its versatility and broad appeal.

North America held over 35% share of the yacht industry in 2022 and is expected to witness commendable growth from 2023 to 2032, owing to the presence of strong economy with significant population of high-net-worth individuals having an affinity for yachting in the region.

Azimut Benetti, Damen Yachting, Ferretti S.p.A., Groupe Beneteau, and Hanse Group are some of the major yacht companies worldwide.

Yacht Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 16
  • Tables & Figures: 445
  • Countries covered: 17
  • Pages: 200
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