Alloys), By Application(Private, Commercial) - Industry Forecast 2024-2031

Report ID: SQMIG25P2017 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 116 | Figures: 77

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Luxury Yacht Market size was valued at USD 8.4 billion in 2019 and is poised to grow from USD 8.91 billion in 2023 to USD 13.3 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

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', 'Sunseeker International', 'Princess Yachts', 'Feadship', 'Lürssen', 'Sanlorenzo', 'Heesen Yachts', 'Oceanco', 'Westport Yachts', 'Christensen Shipyards', 'Gulf Craft', 'Baglietto', 'Palmer Johnson Yachts', 'Beneteau Group', 'Amels', 'Codecasa', 'CRN Yachts', 'Hatteras Yachts', 'Horizon Yachts'

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.

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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

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