Global Luxury Yacht Market Size, Share, Growth Analysis, By Type(Sailing Luxury Yacht, Motorized Luxury Yacht), By Size(75-120 feet, 121–250), By Material(FRP/ Composites, Metal/ Alloys), By Application(Private, Commercial) - Industry Forecast 2024-2031

According to general report published by World Bank, Italy, the UK, and the Netherlands are the major producers of luxury yachts in Europe luxury yacht market. In terms of value, Italy leads the way with around €2 billion worth of production, followed by the UK at €1.6 billion and the Netherlands at 1.4 billion. The majority of yacht builders in these countries are concentrated in well-established maritime regions such as Tuscany, Sardinia and Puglia in Italy; Southampton and Plymouth in the UK; and Amsterdam and Zaandam in the Netherlands.

These companies in the global luxury yacht market have benefited from high-end orders in recent years, with a huge demand for luxury yachts remaining robust despite challenging economic conditions globally. A number of factors have contributed to this demand, including an increase in wealth among high-net-worth individuals, continued growth in the charter market and a rise in interest from emerging markets such as China and Russia.

Looking ahead, SkyQuest expects that Brexit will create some uncertainties for luxury yacht builders based in the UK but believes that overall demand for these vessels will remain strong. Indeed, many wealthy individuals are likely to continue to see yacht ownership as a status symbol and an efficient way to enjoy time on the water.