Global Luxury Yacht Market 2023 Latest Trends, Growth Strategy, Major Players And Forecast To 2032 | Ferretti S.p.A., Azimut Benetti SpA, Sanlorenzo S.p.a., Feadship, Princess Yachts Limited

As per The Business Research Company's Luxury Yacht Opportunities And Strategies Market Report 2023, The global luxury yacht market reached a value of nearly $6,300.0 million in 2022, having grown at a compound annual growth rate (CAGR) of 5.6% since 2017. The market is expected to grow from $6,300.0 million in 2022 to $9,610.0 million in 2027 at a rate of 8.8%. The market is then expected to grow at a CAGR of 9.6% from 2027 and reach $15,210.0 million in 2032.

Government support is expected to drive the growth of the luxury yacht market going forward. The governments of various countries are supporting the tourism sector to produce new solutions to better serve the industry. For example, in March 2023, the UAE-based Leisure Marine Association MENA and Capt. Abdullah Alhayyas, the Director of the Maritime Transport Affairs Department at the UAE Ministry of Energy and Infrastructure, signed a Memorandum of Understanding (MoU) at the Dubai International Boat Show. The Leisure Marine Association is a marine trade association that represents the interests of the boating and yachting industries and is an advocate for the leisure marine community across the Middle East and North Africa. Further, in August 2022, South Africa's Ocean sailing community launched a last-ditch effort to save coastal yacht clubs that are in danger of being squeezed out of ports run by the Transnet National Ports Authority (TNPA). Therefore, government initiatives will support the growth of the luxury yacht market.

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Yacht manufacturers are focusing on using artificial intelligence (AI) to develop advanced products and improve efficiency. The potential of artificial intelligence (AI) is revolutionizing the luxury yacht industry by taking the thrill of ocean cruising to new heights. AI is quickly becoming a vital tool for yacht owners and charter firms aiming to provide their clients with the ultimate in luxury and ease. With the potential to revolutionize everything from route planning to onboard entertainment, AI is becoming increasingly important. For example, in April 2023, Rossinavi, an Italy-based shipyard that specializes in the construction of full-custom steel and aluminum superyachts, launched the 49.9-meter superyacht, No Stress, at the Viareggio shipyard in Italy. No Stress is the first Rossinavi yacht to feature a hybrid propulsion system, and the first to be equipped with artificial intelligence (AI).

The top opportunities in the luxury yacht market segmented by type will arise in the motor yacht segment, which will gain $2,835.2 million of global annual sales by 2027. The top growth potential in segment by size will arise in up to 100 Meters segment, which will gain $2,950.6 million of global annual sales by 2027. The top opportunities in segment by hull material will arise in the fiber reinforced polymers and composites segment, which will gain $2,400.8 million of global annual sales by 2027. The top opportunities in segment by application will arise in the private segment, which will gain $2,638.8 million of global annual sales by 2027. The luxury yacht market size will gain the most in the USA at $687.0 million.

Luxury Yacht Market Segmentation:
The Luxury Yacht Market is segmented by type, by size, by hull material and by application

By Type -
The luxury yacht market is segmented by type into
a) Motor Yacht
b) Sailing Yacht

By Size -
The luxury yacht market is segmented by size into
a) 100 Meters
b) 100-150 Meters
c) Above 150 Meters

By Hull Material -
The luxury yacht market is segmented by hull material into
a) Fiber Reinforced Polymers And Composites
b) Metals And Alloys
c) Other Hull Materials

By Application -
The luxury yacht market is segmented by application into
a) Commercial
b) Private

Major players in the Luxury Yacht Market include Ferretti S.p.A., Azimut Benetti, SpA, Sanlorenzo S.p.a., Feadship, Princess Yachts Limited.

The regions covered in the global Luxury Yacht Market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Luxury Yacht Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Luxury Yacht Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
……
18. Competitive Landscape And Company Profiles
19. Key Mergers and Acquisitions
20. Opportunities And Strategies
21. Luxury Yacht Market, Conclusions And Recommendations
22. Appendix

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