Luxury Yacht Market Updates

Luxury Yacht Market size was valued at USD 8.91 Billion in 2023 and is poised to grow from USD 9.43 Billion in 2024 to USD 14.07 Billion by 2032, growing at a CAGR of 5.8% during the forecast period (2025-2032).

Even in the face of a global pandemic, the luxury yacht market has remained strong. Here are some of the ways that companies are sustaining in this market to stay competitive: 'Azimut Benetti ', 'Ferretti Group ', 'Sanlorenzo ', 'Sunseeker International ', 'Princess Yachts ', 'Lürssen ', 'Feadship ', 'Damen Yachting ', 'Heesen Yachts ', 'Oceanco ', 'Baglietto ', 'Perini Navi ', 'Fincantieri Yachts ', 'Horizon Yacht ', 'Westport Yachts ', 'Palumbo Superyachts ', 'CRN Yachts ', 'Gulf Craft ', 'Rossinavi ', 'Codecasa'

There are many factors to drive the growing demand for luxury yacht market. First and foremost, among these is the increasing wealth of individuals around the world. As the number of millionaires and billionaires are rising they are looking for ways to spend their money, and luxury yachts are one of the most popular choices.

Rise in disposable income has led in spending on luxury items: In recent years, there has been a growing trend of wealthy individuals purchasing luxury yachts. This is due to a number of factors, including an increase in disposable income and a desire to own a status symbol.

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.