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Superyacht Market Size, Share, Competitive Landscape and Trend Analysis Report, by Size, by Application, by Propulsion : Global Opportunity Analysis and Industry Forecast, 2023-2032

AT : Electric and Hybrid Vehicles

Report Code: A11376

Tables: 120

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The global superyacht market size was esteemed at $ 10,293.3 million in 2022 and is estimated to reach $ 25,677.2 million by 2032, exhibiting a CAGR of 9.8% from 2023 to 2032.

Report Key Highlighters:

• The superyacht market study covers 14 countries. The research includes regional and segment analysis of each country in terms of value ($million) for the projected period 2023-2032.
• The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.
• Over 3,700 product literature, annual reports, industry statements, and other comparable materials from major industry participants were reviewed to gain a better understanding of the market.
• The superyacht market share is slightly fragmented, into several players including Damen Yachting BV, Azimut Benetti Group S.p.A., Burgess, THE ITALIAN SEA GROUP S.p.A., Ferretti SpA, Horizon Yacht USA, Ocean Alexander Yachts, Inc., Overmarine, San Lorenzo and Sunseeker. The companies have adopted strategies such as expansion, product launch, product development and others to improve their market positioning.

Superyacht refers to a luxurious large yacht of over 30m in length. Such vessels have a high-end recreational purpose which is mostly owned by ultra-high net-worth individuals. Superyachts differ considerably both in size, design, luxury accessories, and the highest quality of workmanship. Superyachts come with numerous accessories, which include many decks, pools, helipad, Jacuzzi, gym, among others. These ships normally have a well-trained crew such as a captain, other officers, chef and so many other servants who provide quality services and comfort to the proprietor and their guest.

The growth of the global superyacht market is determined by the growing wealth of ultra-high net-worth persons, the rise as a prominent destination for luxury yachts, and increasing tourist attractions and luxurious hotels that are anticipated to drive the market. However, factors such as environmental concerns related to fuel consumption and emissions and retaining qualified and experienced crew members restrain market growth. On the contrary, the growing demand for electric yachts and customization in luxury yachts are expected to provide lucrative growth opportunities for the market growth.

Increased consumption in emerging economies has led to rapid expansion of the demand for high-end products such as superyachts. Furthermore, technological and design improvements have led to state-of-the-art and high-end boats which favour the marine economy. In addition, the rise of the experiential luxury trend among high-end clients has also contributed to an increase in demand for yachts, since they are the embodiment of the highest level of luxury and privacy. Additionally, global tourism is gravitating toward individual tours of upscale nature, and a trip aboard a superyacht is one such rare experience for discovering the wonders of this planet. Also, governments in different places acknowledge the economic opportunity of the superyacht sector and make the necessary provisions including the latest marinas for yachts and yacht-friendly rules.

In addition, yacht exhibitions and events have a huge impact on brand building and improving a company's reputation in the superyacht industry. A brand's participation in prestigious events strengthens its exclusivity and credibility, as well as its position as a dominant force in the industry. Manufacturers who regularly participate in prestigious events demonstrate their commitment to innovation and perfection, which increases the attractiveness of their products and gives hope to potential consumers. Collaboration between superyacht manufacturers and other luxury companies is also facilitated through yacht shows and events. By collaborating with world-class watchmakers, fashion designers, interior designers, and car manufacturers, exclusive and bespoke boating projects are realized, captivating customers seeking a seamless integration of luxury experiences.

The Europe superyacht industry is the rapid urbanization observed in many countries. In countries like Italy, UK, Spain, Germany. The industry is witnessing a surge in the popularity of sustainable and eco-friendly yachting, aligning with the region's strong emphasis on environmental conservation. In addition, manufacturers in the European region are now venturing into sustainable development and have increased their efforts to produce environment-friendly yachts. For instance, in January 2022, Pascoe International announced the sale of the world's first 100% electric superyacht limousine tender. Additionally, the company has confirmed the new tender is now under construction. The vessel, which is under construction at a major Northern European shipyard is set for delivery to a large newly built mothership in 2023. As Europe remains a hub for high-net-worth individuals and luxury travel, the superyacht industry statistics in the region is well-positioned for sustained growth and continued prominence on the global stage.

Maritime history, high skill craftsmanship, as well as modern designing, made Italy a desirable place for yacht owners with good taste. This development arises from the combination of ancient handicraft, along with contemporary technology. However, Italian shipyards have always supplied elegant yet ultra-modern vessels of high quality. Additionally, having a good port and a central location that strategically places Italy in a position to supply the fast growing external markets. The country's commitment to research and development, coupled with its emphasis on fostering international collaborations, further enhances its competitive edge.

For instance, in February 2023, The Italian Sea Group (TISG) and legendary Italian fashion designer Giorgio Armani revealed their 72-metre superyacht collaboration, currently in build, at a star-studded gala evening at the shipyardâ headquarters at Marina di Carrara. The interior is by Armani/Casa and uses a soft and minimalist palette that contrasts the use of refined materials and hand-crafted finishes. The first interior renderings show polished marble floors with gold accents and occasional use of dark wood. 

Key Developments

The leading companies are adopting strategies such as acquisition, agreement, expansion, partnership, contracts, product launches and other to strengthen their market position.

• In July 2023 , Damen Yachting launched fourth Amels 60 superyachts. The 60m, 830 GT Amels 60 superyacht features an exterior design by Espen oino, naval architecture by Damen Yachting and a custom interior by two collaborating studios, Studio Indigo and Pure Living. It offers six staterooms for up to 12 guests.
• In November 2022 , Damen Yachting expanded its service in Gorinchem yard that includes additional repair facilities and a 150-tonne ship lift. The group intend on the updated shipyard in Gorinchem being an optimal location for the design, maintenance, repair, conversion and building of new ships of up to 90 metres, whilst their Hardinxveld-Giessendam yard divested before the project’s completion.
• In June 2021 , SANLORENZO developed 44 metre superyacht model named the X-Space. The X-Space features a 495GT interior and is designed specifically around privacy, with the upper deck dedicated to the owner. This deck includes a private apartment, study, living room and large master cabin. 
• In March 2020 , Ferretti SpA launched Ferretti 1000 yachts; the first model hit the water from Ferretti Yachts' Cattolica-based facility in Italy.
• In Mach 2020 , SANLORENZO launched SX112 crossover yacht and the 44Alloy and 62Steel superyachts. SX112 comes with 34m length & flagship SX crossover line that proposes a new way of living on the sea: the barriers on board are eliminated, and the boat opens to the outside, in a close relationship with the marine context.

Growth in the Nautical Tourism Industry

Nautical tourism is a specialized form of tourism that involves recreational activities and travel undertaken on water. It encompasses a wide range of activities and destinations related to boating, sailing, yachting, cruising, and other maritime experiences. Yachting along coastal locations is slowly becoming popular across various countries. Nautical tourism, characterized by the exploration of coastal and maritime destinations using luxury vessels, has become a driving force behind the increased demand for superyachts. High-net-worth individuals are increasingly drawn to the allure of unique and exclusive travel experiences, seeking the freedom to explore picturesque coastlines, hidden coves, and exotic island destinations in unparalleled luxury.

Superyachts, equipped with state-of-the-art amenities and crewed by skilled professionals, provide an ideal platform for travelers to indulge in tailor-made itineraries, exploring pristine coastlines and hidden gems inaccessible to conventional forms of transportation. As the allure of nautical tourism continues to captivate the elite global traveler, the demand for superyachts is set to flourish, making them not only vessels of luxury but also essential conduits for a bespoke and unforgettable maritime tourism experience.

Rising Global Wealth

There arises an affluent class of people with huge net worth who tend to find unique yet extravagant ways of expressing their wealth as the economies continue sprawling across different places and income gaps narrow down. For example, the same report by Henley & Partners (2022) reveals that the number of what they call centi-millionaires increased to 28,420 globally (up by 12% since the last year), which is the wealth that is now evident in places like Asia, Middle East and developing countries, in general, has led to increased demand for Superyacht. These vessels, often considered the ultimate status symbols, appeal to individuals who desire not only a means of luxurious travel but also a tangible representation of their success and lifestyle.

The superyacht market benefits from the discretionary spending of this affluent demographic, as these individuals seek exclusive and tailor-made experiences that go beyond conventional travel. The desire to stand out in a crowd, coupled with the appeal of owning a floating sanctuary equipped with the latest technological innovations and lavish amenities, aligns perfectly with the aspirations of the newly wealthy.

High price and maintenance cost

The purchase of a super yacht is typically very expensive, sometimes costing well over one hundred million dollars, making it a privilege reserved mainly for the extremely rich. The high costs involved in buying it serves as a form of barrier into the industry. In addition, the ongoing maintenance costs, encompassing crew salaries, fuel, insurance, dockage fees, and regular repairs, contribute significantly to the total cost of ownership. For instance, 10-15% of the purchase price annually on operating and maintaining a yacht. That's $1-1.5 million a year for a $10 million yacht. Also, routine maintenance can cost roughly 2% of the yacht's value after the yacht's first year, and around 7.5% of the yacht's value when the yacht is 10 years old. Thus, such financial burden can dissuade even affluent individuals from venturing into the superyacht market, as the associated expenses extend far beyond the initial purchase.

The combination of high acquisition costs and the ongoing financial commitments for operation and maintenance can limit the potential customer base, hindering the market's broader growth. Efforts to mitigate these challenges often involve innovations in financing models, shared ownership structures, and the development of more cost-effective operational practices to make superyacht ownership more accessible and sustainable for a wider audience.

Increase in technological advancements and design

The integration of cutting-edge technology has become a hallmark of superyacht design, with a focus on enhancing both the onboard experience and the overall performance of these vessels. Advanced navigation systems, satellite communication, and automation technologies contribute to safer and more efficient maritime travel, while smart home automation systems cater to the desires of owners for seamless control of onboard amenities. For instance, in September 2023, in Botany, New South Wales, UTS Tech Lab, facility will scale up the manufacturing of Advanced Navigationa™ world-first AI navigation systems for GPS-denied environments, including its digital fibre-optic gyroscope (DFOG) technology, Boreas.

Furthermore, superyacht designers are pushing the boundaries of creativity, creating vessels that not only exude elegance but also maximize space and utility. Open and flexible layouts, large windows, and innovative use of materials contribute to a sense of openness and connection with the sea. Moreover, there is a growing emphasis on sustainability in design, with the integration of eco-friendly materials, energy-efficient systems, and even hybrid propulsion technologies. This reflects an industry-wide commitment to environmental responsibility, addressing the concerns of both owners and the broader public.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the superyacht market analysis from 2022 to 2032 to identify the prevailing superyacht market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global market trends, key players, market segments, application areas, and market growth strategies.

  Superyacht Market Report Highlights

• Luxury Yacht Charter
• Yachts Chartering
• Yacht Rental
• Yacht Charter For Vacation
• Sailing Yacht Charter
• Electric Yacht
• Hydrogen Fuel Cell Yacht

Rising global wealth and rising demand for sailing activities are Upcoming Trends of Superyacht Market

Motor Superyachts is the leading application of the Superyacht Market

Europe is the largest regional market for Superyacht.

Damen Yachting BV, Azimut Benetti Group S.p.A., Burgess, THE ITALIAN SEA GROUP S.p.A., Ferretti SpA, Horizon Yacht USA, Ocean Alexander Yachts, Inc., Overmarine, San Lorenzo and Sunseeker.

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Superyacht Market

Global Opportunity Analysis and Industry Forecast, 2023-2032

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Global Superyacht Market Opportunities & Growth Trend to 2030

• Table of Content
• Segmentation

COMPANIES PROFILED

• Feadship (Netherlands)
• Lürssen (Germany)
• Benetti (Italy)
• Azimut-Benetti Group (Italy)
• Heesen Yachts (Netherlands)
• Oceanco (Netherlands)
• Perini Navi (Italy)
• Ferretti Group (Italy)
• Sunseeker International (United Kingdom)
• Burgess Yachts (United Kingdom)

• 1.1 Global Superyacht Market Overview
• 1.2 Market Definition & Scope
• 1.3 Key Findings & Benefits to Stakeholders
• 2.1 Global Superyacht Market Outlook
• 2.2 Total Addressable Market versus Serviceable Market
• 2.3 Competitition Outlook
• 3.1 Growth Drivers
• 3.2 Available Opportunities
• 3.3 Influencing Trends
• 3.4 Restraint & Challenges
• 3.5 Regional Dynamics
• 4.1 Current Scenario
• 4.2 PESTEL Analysis
• 4.3.1 Supplier Power
• 4.3.2 Bargaining Power of Buyers
• 4.3.3 Threat of Substitutes
• 4.3.4 Threat from New Entrant
• 4.3.5 Degree of Competition
• 4.4 Roadmap of Superyacht Market
• 4.5 Impact of Macro-Economic Factors
• 4.6 Market Entry Strategies
• 4.7 Government Policies and Regulatory Factors
• 4.8 Value Chain Analysis
• 5.1.1 CR4, CR8 and HH Index
• 5.1.2 % Market Share - Top 3
• 5.1.3 Market Holding by Top 5
• 5.2 Market Position of Manufacturers by Superyacht Revenue (2023)
• 5.3 BCG Matrix
• 5.4 Market Entropy
• 5.5 Heat Map Analysis
• 5.6 Strategic Group Analysis
• 6.2.1 Motor yachts
• 6.2.2 Sailing yachts
• 6.3 Global Superyacht Market Revenue Analysis (USD Million) by Application (2019-2030)
• 6.4.1 Steel
• 6.4.2 aluminum,
• 6.4.3 Composite materials
• 6.5.1 24 meters (79 feet)
• 6.5.2 100 meters (328 feet)
• 7.1.1.1 United States
• 7.1.1.2 Canada
• 7.1.1.3 Mexico
• 7.1.2 North America Superyacht Market by Type; Value (USD Million) [2019-2030]
• 7.1.3 North America Superyacht Market by Application; Value (USD Million) [2019-2030]
• 7.1.4 North America Superyacht Market by Construction Material; Value (USD Million) [2019-2030]
• 7.1.5 North America Superyacht Market by Size; Value (USD Million) [2019-2030]
• 7.2.1.1 Brazil
• 7.2.1.2 Argentina
• 7.2.1.3 Chile
• 7.2.1.4 Rest of South America
• 7.2.2 South America Superyacht Market by Type; Value (USD Million) [2019-2030]
• 7.2.3 South America Superyacht Market by Application; Value (USD Million) [2019-2030]
• 7.2.4 South America Superyacht Market by Construction Material; Value (USD Million) [2019-2030]
• 7.2.5 South America Superyacht Market by Size; Value (USD Million) [2019-2030]
• 7.3.1.1 Germany
• 7.3.1.2 France
• 7.3.1.3 Italy
• 7.3.1.4 United Kingdom
• 7.3.1.5 Benelux
• 7.3.1.6 Nordics
• 7.3.1.7 Rest of Europe
• 7.3.2 Europe Superyacht Market by Type; Value (USD Million) [2019-2030]
• 7.3.3 Europe Superyacht Market by Application; Value (USD Million) [2019-2030]
• 7.3.4 Europe Superyacht Market by Construction Material; Value (USD Million) [2019-2030]
• 7.3.5 Europe Superyacht Market by Size; Value (USD Million) [2019-2030]
• 7.4.1.1 China
• 7.4.1.2 Japan
• 7.4.1.3 India
• 7.4.1.4 South Korea
• 7.4.1.5 Australia
• 7.4.1.6 Southeast Asia
• 7.4.1.7 Rest of Asia-Pacific
• 7.4.2 Asia Pacific Superyacht Market by Type; Value (USD Million) [2019-2030]
• 7.4.3 Asia Pacific Superyacht Market by Application; Value (USD Million) [2019-2030]
• 7.4.4 Asia Pacific Superyacht Market by Construction Material; Value (USD Million) [2019-2030]
• 7.4.5 Asia Pacific Superyacht Market by Size; Value (USD Million) [2019-2030]
• 7.5.1.1 Middle East
• 7.5.1.2 Africa
• 7.5.2 MEA Superyacht Market by Type; Value (USD Million) [2019-2030]
• 7.5.3 MEA Superyacht Market by Application; Value (USD Million) [2019-2030]
• 7.5.4 MEA Superyacht Market by Construction Material; Value (USD Million) [2019-2030]
• 7.5.5 MEA Superyacht Market by Size; Value (USD Million) [2019-2030]
• 8.1.1 Company Overview
• 8.1.2 Product/Service Portfolio & Specifications
• 8.1.3 Key Financial Metrics
• 8.1.4 SWOT Analysis
• 8.1.5 Development Activities
• 8.2 Lürssen (Germany)
• 8.3 Benetti (Italy)
• 8.4 Azimut-Benetti Group (Italy)
• 8.5 Heesen Yachts (Netherlands)
• 8.6 Oceanco (Netherlands)
• 8.7 Perini Navi (Italy)
• 8.8 Ferretti Group (Italy)
• 8.9 Sunseeker International (United Kingdom)
• 8.10 Burgess Yachts (United Kingdom)
• 8.1.1 Motor yachts
• 8.1.2 Sailing yachts
• 8.2.1 Steel
• 8.2.2 aluminum,
• 8.2.3 Composite materials
• 8.3.1 24 meters (79 feet)
• 8.3.2 100 meters (328 feet)
• 8.1.1.1 United States
• 8.1.1.2 Canada
• 8.1.1.3 Mexico
• 8.1.2 North America Superyacht Market by Construction Material; Value (USD Million) [2024-2030]
• 8.1.3 North America Superyacht Market by Size; Value (USD Million) [2024-2030]
• 8.2.1.1 Brazil
• 8.2.1.2 Argentina
• 8.2.1.3 Chile
• 8.2.1.4 Rest of South America
• 8.2.2 South America Superyacht Market by Construction Material; Value (USD Million) [2024-2030]
• 8.2.3 South America Superyacht Market by Size; Value (USD Million) [2024-2030]
• 8.3.1.1 Germany
• 8.3.1.2 France
• 8.3.1.3 Italy
• 8.3.1.4 United Kingdom
• 8.3.1.5 Benelux
• 8.3.1.6 Nordics
• 8.3.1.7 Rest of Europe
• 8.3.2 Europe Superyacht Market by Construction Material; Value (USD Million) [2024-2030]
• 8.3.3 Europe Superyacht Market by Size; Value (USD Million) [2024-2030]
• 8.4.1.1 China
• 8.4.1.2 Japan
• 8.4.1.3 India
• 8.4.1.4 South Korea
• 8.4.1.5 Australia
• 8.4.1.6 Southeast Asia
• 8.4.1.7 Rest of Asia-Pacific
• 8.4.2 Asia Pacific Superyacht Market by Construction Material; Value (USD Million) [2024-2030]
• 8.4.3 Asia Pacific Superyacht Market by Size; Value (USD Million) [2024-2030]
• 8.5.1.1 Middle East
• 8.5.1.2 Africa
• 8.5.2 MEA Superyacht Market by Construction Material; Value (USD Million) [2024-2030]
• 8.5.3 MEA Superyacht Market by Size; Value (USD Million) [2024-2030]
• 10.1.1 Research Program/Design
• 10.1.2 Market Size Estimation
• 10.1.3 Market Breakdown and Data Triangulation
• 10.2.1 Secondary Sources
• 10.2.2 Primary Sources
• 11.1 Acronyms & bibliography
• 11.2 Disclaimer

Scope of Report

• Motor yachts
• Sailing yachts

By Construction Material

• Composite materials
• 24 meters (79 feet)
• 100 meters (328 feet)

Data Collection and Sourcing

The primary research is performed by taking the interviews of executives of various companies dealing in the Superyacht Industry as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and relevant list of appointee or target primary respondents; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & In Mail, Community Forums, Open Survey, SurveyMonkey etc.

Key Executives Interviewed

The secondary resources considered in the Global Superyacht Market study includes company annual reports, press releases, published articles of organizations and associations, and the survey taken through different mediums such as online website and forums, survey monkey, LinkedIn, etc. In addition, the valuable strategic information obtained from Superyacht industry related association, paid database, and investor presentations are also good tool for information to make appropriate iterative validation are used to modify market models and cross-verify primary research data.

Superyacht Market Size Estimation Approach

To derive market size estimation of Superyacht Market exhaustive secondary and primary research is conducted to gain insights on the market, substitute market and parent market. The research process involved in the study includes various factors affecting the industry, such as government and regulatory policy, business environment, competitive landscape, key performance indicators (KPIs) historical data, current trends in the market, technological enhancements, R&D and the cost cutting benchmarks along with market risks, opportunities, and challenges.

Top-down and bottom-up approaches are used to validate and estimate the Global Superyacht market size by manufacturers, regional splits, key business segments and application.

To establish research coverage of the study with most relevant & functional players HTF MI follows industry standards such as NAICS/SIC/ICB/TRCB, furthermore the sorted list of companies is validated using Product Mapping and business activities and shortlisted by industry perspective.

The Superyacht market study is conducted on basis of 200+ companies (leaders as well as emerging regional players) dealing in the market with purpose to understand company’s market positioning by value, sales volume and their market share at global and/or regional level.

Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Online) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. from Global Superyacht market who then used for appointment generation.

Superyacht Research Framework / Design

• Report ID: HTFMI-7349
• Pages : 125
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Superyacht Market Size, Share & Growth Analysis By Length ( 250 ft.), By Price ( $100 m), By Propulsion (Motor, Sail, Electric/solar), And Regional Forecast, 2022-2028

• No of Pages: 115
• Published On: Sep 2022
• Format: PDF
• Report ID : 44484
• Table of Contents

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Report Summary

Eternity Insights has published a new study on Global Superyacht Market focusing on key segments By Length (<120 ft., 12-250 ft., >250 ft.), By Price (<$25 m, $25 - $100 m, >$100 m), By Propulsion (Motor, Sail, Electric/solar) , and by region. This deep dive research report highlights the market and competitive intelligence across the key segments of the market. The report also considers the impact of COVID-19 on the global Superyacht Market.

The report considers 2018-2020 as historic period, 2021 as base year, and 2022-2028 as forecast period. The report includes quantitative analysis of the market supported by the market drivers, challenges, and trends to accurately map the market scenario and competition. Moreover, key insights related to market having direct impact on the market will also be covered.

Superyacht Market report is based on robust research methodology designed using blend of research approaches developed using secondary/desk research and validated through primary research and expert insights. Eternity Insights also uses paid databases such as FACIVA, Hoovers, and other bench-marking and forecasting tools to provide accurate statistical analysis of supply and demand trends.

Global Superyacht Market Size, 2018-2028 (USD Million)

To learn more about this report, global superyacht market segmentation:, superyacht market, by length   .

• <120 ft.
• >250 ft.

Superyacht Market, By price      

• $25 - $100 m

Superyacht Market, By Propulsion          

• Electric/solar

Geographically, the market is categorized in to five regions as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America region dominates the global Superyacht market in terms of demand generation. The Superyacht market in Asia Pacific region is expected to grow at significantly high growth rate. The regional market is further sub-segmented and analyzed at granular level across key countries. The report will include market size and forecast for Superyacht market for below listed coun-tries across each region.

North America (U.S. and Canada), Europe (Germany, France, Italy, UK, Spain, and Rest of Europe), Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific region); Latin America (Brazil, Mexico, and rest of the Latin America); Middle East and Africa (GCC, South Africa, and Rest of the Middle East and Africa).

Global Superyacht Market Taxonomy:

Global superyacht market competitive landscape.

The global Superyacht market analysis report covers detailed analysis of competitive scenario across globe. The report includes profiles of leading players covering below details

• Company Overview
• Financial Analysis
• Product Portfolio Analysis
• Strategic Overview
• SWOT Analysis

List of Companies Profiled in the report:

• Azimut-Benetti Group
• Feretti Group
• Torquoise Yacht
• Horizon Yachts
• The Italian Sea Group
• Heesen yachts
• Princess Yachts
• Lynx Yachts
• Ocean Alexander
• Other Players of Specific Interest can be added based on the requirement

Market Segmentation

Key Benefits to the stakeholders

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) and volume (Tons) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come

Table Of Contents

1 Methodology and Scope

1.1 Market segmentation & scope 1.2 Information Procurement

1.2.1 Purchased Database 1.2.2 Eternity’s Internal Database 1.2.3 Secondary sources & third-party perspectives 1.2.4 Primary Research

1.3 Information analysis 1.4 Market formulation & data visualization 1.5 Data validation & publishing

2 Executive Summary

3 Superyacht Market Variables, Trends & Scope

3.1 Market Dynamics

3.1.1 Market Driver Analysis 3.1.2 Market Restraints 3.1.3 Market Challenge Analysis 3.1.4 Market Opportunities 3.1.5 Micro & Macro Indicator

3.2 Impact of COVID-19 Pandemic on Global Superyacht Market

3.2.1 Overview of Changing Landscape 3.2.2 Pre-covid & Post-Covid Market Analysis

3.3 Market Attractiveness Analysis 3.4 Regulatory Scenario 3.5 Industry Trend Analysis- Historic and Future Trend Assessment 3.6 Merger & Acquisition 3.7 New System Launch/Approvals 3.8 Market Analysis Tools

3.8.1 Porter’s Five Forces 3.8.2 PEST Analysis 3.8.3 Value Chain Analysis

3.9 Key Company Ranking Analysis, 2020

4 Global Superyacht Market Analysis and Forecast, By Type

4.1 Overview & Definition 4.2 Key Trends 4.3 Global Superyacht Market Value (US$ Mn) Forecast, by Type (2019 – 2028)

4.2.1 Type 1 4.2.2 Type 2 4.2.3 Type 3 4.2.4 Type 4

4.4 Type Comparison Matrix 4.5 Global Superyacht Market Attractiveness, By Type

5 Global Superyacht Market Analysis and Forecast, By Application

5.1 Overview & Definition 5.2 Key Trends 5.3 Global Superyacht Market Value (US$ Mn) Forecast, by Application (2019 – 2028)

5.3.1 Application 1 5.3.2 Application 2 5.3.3 Application 3 5.3.4 Application 4

5.4 Application Comparison Matrix 5.5 Global Superyacht Market Attractiveness, by Application

6 Global Superyacht Market Analysis and Forecast, By Region

6.1 Overview & Definition 6.2 Key Trends 6.3 Global Superyacht Market Value (US$ Mn) Forecast, by Region (2019 – 2028) 6.4 North America 6.5 Europe 6.6 Asia Pacific 6.7 Latin America 6.8 Middle East & Africa

7 Global Superyacht Market Attractiveness, by Region

8 North America Superyacht Market Analysis and Forecast

8.1 Key Findings 8.2 North America Superyacht Market Analysis (US$ Mn) and Forecast, By Type (2019-2028)

8.2.1 Type 1 8.2.2 Type 2 8.2.3 Type 3 8.2.4 Type 4

8.3 North America Superyacht Market Analysis (US$ Mn) and Forecast, By Application (2019-2028)

8.3.1 Application 1 8.3.2 Application 2 8.3.3 Application 3 8.3.4 Application 4

8.4 North America Superyacht Market Analysis (US$ Mn) and Forecast, By Country (2019-2028)

8.4.1 U.S. 8.4.2 Canada 8.4.3 Rest of North America

8.5 North America Superyacht Market Attractiveness Analysis

8.5.1 By Type 8.5.2 By Application 8.5.3 By Country

9 Europe Superyacht Market Analysis and Forecast

9.1 Key Findings 9.2 Europe Superyacht Market Analysis (US$ Mn) and Forecast, By Type (2019-2028)

9.2.1 Type 1 9.2.2 Type 2 9.2.3 Type 3 9.2.4 Type 4

9.3 Europe Superyacht Market Analysis (US$ Mn) and Forecast, By Application (2019-2028)

9.3.1 Application 1 9.3.2 Application 2 9.3.3 Application 3 9.3.4 Application 4

9.4 Europe Superyacht Market Analysis (US$ Mn) and Forecast, By Country (2019-2028)

9.4.1 U.K. 9.4.2 Germany 9.4.3 France 9.4.4 Italy 9.4.5 Rest of Europe

9.5 Europe Superyacht Market Attractiveness Analysis

9.5.1 By Type 9.5.2 By Application 9.5.3 By Country

10 Asia Pacific Superyacht Market Analysis and Forecast

10.1 Key Findings 10.2 Asia Pacific Superyacht Market Analysis (US$ Mn) and Forecast, By Type (2019-2028)

10.2.1 Type 1 10.2.2 Type 2 10.2.3 Type 3 10.2.4 Type 4

10.3 Asia Pacific Superyacht Market Analysis (US$ Mn) and Forecast, By Application (2019-2028)

10.3.1 Application 1 10.3.2 Application 2 10.3.3 Application 3 10.3.4 Application 4

10.4 Asia Pacific Superyacht Market Analysis (US$ Mn) and Forecast, By Country (2019-2028)

10.4.1 China 10.4.2 India 10.4.3 Japan 10.4.4 South Korea 10.4.5 Rest of APAC

10.5 Asia Pacific Superyacht Market Attractiveness Analysis

10.5.1 By Type 10.5.2 By Application 10.5.3 By Country

11 Latin America Superyacht Market Analysis and Forecast

11.1 Key Findings 11.2 Latin America Superyacht Market Analysis (US$ Mn) and Forecast, By Type (2019-2028)

11.2.1 Type 1 11.2.2 Type 2 11.2.3 Type 3 11.2.4 Type 4

11.3 Latin America Superyacht Market Analysis (US$ Mn) and Forecast, By Application (2019-2028)

11.3.1 Application 1 11.3.2 Application 2 11.3.3 Application 3 11.3.4 Application 4

11.4 Latin America Superyacht Market Analysis (US$ Mn) and Forecast, By Country (2019-2028)

11.4.1 Brazil 11.4.2 Rest of Latin America China

11.5 Latin America Superyacht Market Attractiveness Analysis

11.5.1 By Type 11.5.2 By Application 11.5.3 By Country

12 Middle East & Africa (MEA) Superyacht Market Analysis and Forecast

12.1 Key Findings 12.2 Middle East & Africa (MEA) Superyacht Market Analysis (US$ Mn) and Forecast, By Product Type (2019-2028)

12.2.1 Type 1 12.2.2 Type 2 12.2.3 Type 3 12.2.4 Type 4

12.3 Middle East & Africa (MEA) Superyacht Market Analysis (US$ Mn) and Forecast, By Application (2019-2028)

12.3.1 Application 1 12.3.2 Application 2 12.3.3 Application 3 12.3.4 Application 4

12.4 Middle East & Africa (MEA) Superyacht Market Analysis (US$ Mn) and Forecast, By Country (2019-2028)

12.4.1 GCC Countries 12.4.2 South Africa 12.4.3 Rest of MEA

12.5 Middle East & Africa (MEA) Superyacht Market Attractiveness Analysis

12.5.1 By Type 12.5.2 By Application 12.5.3 By Country

13 Competitive Landscape

13.1 Market Players – Competition Matrix 13.2 Market Share Analysis by Key Players, 2020 (%) 13.3 Company Profiles

13.3.1 Company 1

13.3.1.1 Company Overview 13.3.1.2 Company Snapshot 13.3.1.3 Financial Overview 13.3.1.4 Product Portfolio 13.3.1.5 Key Developments/Strategies

13.3.2 Company 2 13.3.3 Company 3 13.3.4 Company 4 13.3.5 Company 5 13.3.6 Company 6 13.3.7 Company 7 13.3.8 Company 8 13.3.9 Company 9 13.3.10 Company 10

14 Key Takeaways

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Superyacht Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2024-2032

Corporate User License

• Report Description
• Major Segmentation
• Major Companies
• Major Regions

Market Overview

The superyacht market is a thriving sector within the luxury boating industry. Superyachts are large and luxurious vessels that offer premium amenities and exceptional comfort for private ownership or charter purposes. This market overview provides insights into the current state of the superyacht market, including key trends, market dynamics, regional analysis, competitive landscape, and future outlook.

Superyachts are luxury motor or sailing vessels that typically measure over 24 meters (79 feet) in length and offer high-end amenities and services. These yachts are designed for ultimate comfort, luxury, and leisure, providing owners and guests with lavish onboard experiences in the open waters.

Executive Summary

The superyacht market is experiencing steady growth due to the rising demand for luxury travel experiences and the increasing number of high-net-worth individuals seeking exclusive leisure activities. The market is driven by factors such as growing wealth concentration, evolving consumer preferences, and the desire for unique and personalized experiences. However, there are also challenges and opportunities that need to be addressed to ensure sustainable market growth. This executive summary provides a concise overview of the key market insights, drivers, restraints, opportunities, and trends shaping the superyacht market.

Key Market Insights

• Growing Wealth Concentration: The increasing number of ultra-high-net-worth individuals (UHNWIs) and billionaires worldwide is driving the demand for superyachts as a symbol of luxury and status.
• Evolving Consumer Preferences: Luxury travelers are seeking unique and personalized experiences, leading to the demand for superyachts that offer customization, privacy, and exceptional onboard amenities.
• Rising Popularity of Chartering: The charter market is gaining traction, allowing individuals to experience the luxury of superyachts without the long-term commitment of ownership.
• Technological Advancements: The integration of advanced technologies, such as hybrid propulsion systems, energy-efficient solutions, and smart onboard systems, is enhancing the performance and sustainability of superyachts.
• Focus on Sustainability: There is a growing emphasis on eco-friendly practices and sustainability in the superyacht industry, including the use of alternative fuels, waste management systems, and green design principles.

Market Drivers

• Growing Wealth among High-Net-Worth Individuals: The increasing wealth among high-net-worth individuals, particularly UHNWIs, is fueling the demand for luxury assets like superyachts.
• Desire for Exclusive Leisure Experiences: Superyachts offer unparalleled luxury, privacy, and personalized experiences, catering to the desires of affluent individuals seeking unique and extraordinary leisure activities.
• Emerging Markets and New Entrants: Emerging economies with rising affluence, such as China, India, and the Middle East, present new opportunities for market expansion and attracting new customers.
• Advancements in Design and Technology: The integration of cutting-edge design elements, advanced engineering, and innovative technologies enhances the performance, comfort, and sustainability of superyachts.
• Charter Market Growth: The popularity of chartering superyachts is increasing, as it provides individuals with the opportunity to enjoy the luxury experience without the long-term commitment of ownership.

Market Restraints

• High Cost of Ownership: The ownership and maintenance costs of superyachts can be substantial, including purchase price, operational expenses, crew salaries, and maintenance and refit costs.
• Economic Uncertainties: Economic downturns and financial uncertainties can impact the superyacht market, as luxury assets are often discretionary purchases that can be affected by changing economic conditions.
• Regulatory Challenges: Compliance with maritime regulations, safety standards, and environmental regulations can pose challenges for superyacht owners and operators, requiring significant investments and adherence to stringent guidelines.
• Limited Infrastructure and Berthing Facilities: The availability of suitable berthing facilities, marinas, and infrastructure to accommodate superyachts can be limited in certain regions, affecting cruising destinations and market growth.
• Environmental Concerns: The superyacht industry faces scrutiny regarding its environmental impact, particularly in terms of carbon emissions, waste management, and preservation of marine ecosystems.

Market Opportunities

• Personalization and Customization: Offering customized superyacht designs, amenities, and onboard experiences can attract discerning customers who seek exclusivity and personalized luxury.
• Emerging Markets: The growth of emerging markets, including Asia Pacific and the Middle East, presents opportunities to tap into new customer bases and cater to the rising affluence in these regions.
• Sustainability and Green Solutions: Developing and adopting eco-friendly practices, sustainable technologies, and green design principles can attract environmentally conscious customers and address the growing demand for sustainable luxury.
• Charter Market Expansion: The expansion of the charter market provides opportunities for superyacht owners and operators to generate revenue through charter bookings, maximizing the utilization of their assets.
• Technological Innovations: Continued advancements in design, engineering, and onboard systems can lead to the development of more efficient, safer, and technologically advanced superyachts, attracting customers looking for the latest innovations.

Market Dynamics

The superyacht market is driven by factors such as growing wealth concentration, evolving consumer preferences, technological advancements, sustainability concerns, and the expanding charter market. Market dynamics are influenced by factors such as changing consumer behavior, luxury travel trends, regulatory developments, economic conditions, and technological innovations. Understanding the market dynamics is crucial for industry participants and stakeholders to make informed decisions and develop effective strategies to capitalize on emerging opportunities.

Regional Analysis

The superyacht market exhibits variations across different regions, influenced by factors such as regional wealth distribution, cruising destinations, infrastructure, and regulatory frameworks. This regional analysis provides insights into the market trends, growth potential, and key players in key regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Understanding regional dynamics helps market players tailor their approaches to meet the specific needs and preferences in each region.

Competitive Landscape

The superyacht market is characterized by intense competition among key players, including yacht builders, naval architects, interior designers, and brokerage firms. This section provides an overview of the competitive landscape, highlighting the major players, their portfolios, geographical presence, strategic initiatives, and key developments. It also analyzes the competitive strategies, such as product launches, partnerships, mergers and acquisitions, and collaborations, adopted by market players to gain a competitive edge and enhance their market position.

Segmentation

The superyacht market can be segmented based on various factors, including yacht type, size, ownership, and region. Understanding the market segmentation helps identify specific market niches, target audiences, and tailor marketing strategies accordingly. This section provides a detailed analysis of the market segmentation, including market size, growth rate, and revenue forecasts for each segment.

Category-wise Insights

• Yacht Type: Superyachts are available in various types, including motor yachts, sailing yachts, explorer yachts, and catamarans. This section provides insights into the market share, design trends, and customer preferences for each yacht type.
• Size: Superyachts range in size from small vessels to mega yachts exceeding 100 meters (328 feet) in length. Understanding the market trends and size preferences helps in product development and customization strategies.

Key Benefits for Industry Participants and Stakeholders

• Market Growth Opportunities: The superyacht market offers significant growth opportunities for yacht builders, naval architects, interior designers, brokerage firms, and other industry participants.
• High-profit Margins: The luxury nature of superyachts allows for high-profit margins, attracting businesses and investors seeking lucrative opportunities in the luxury boating industry.
• Brand Enhancement: Owning or operating superyachts can enhance the reputation and brand image of yacht builders, designers, and brokerage firms in the luxury sector.
• Employment Generation: The superyacht industry contributes to employment generation, providing opportunities for skilled professionals, including crew members, technicians, and support staff.

SWOT Analysis

• Strengths: Unparalleled luxury and comfort, personalized experiences, and exclusivity in the market.
• Weaknesses: High ownership and operational costs, regulatory constraints, and limited infrastructure in certain regions.
• Opportunities: Personalization and customization, emerging markets, sustainability initiatives, charter market expansion, and technological advancements.
• Threats: Economic uncertainties, regulatory challenges, environmental concerns, and competition from alternative luxury travel experiences.

Market Key Trends

• Personalization and Customization: Customers are seeking customized superyacht designs, amenities, and onboard experiences to reflect their unique preferences and lifestyles.
• Focus on Sustainability: The industry is placing increasing emphasis on sustainability, with a growing demand for eco-friendly technologies, alternative fuels, and waste management solutions .
• Integration of Advanced Technologies: Superyachts are incorporating advanced technologies, including hybrid propulsion systems, energy-efficient solutions, and smart onboard systems, to enhance performance, safety, and comfort.
• Exploring New Cruising Destinations: Customers are increasingly seeking unique and lesser-explored cruising destinations, leading to a demand for superyachts with long-range capabilities and expedition capabilities.

Covid-19 Impact

The Covid-19 pandemic has had a mixed impact on the superyacht market. While the initial period of lockdowns and travel restrictions affected the charter and sales activities, there has been a rebound in demand as individuals seek safe and private luxury experiences. This section discusses the short-term and long-term impact of the Covid-19 pandemic on the market, including changes in consumer behavior, shifts in travel preferences, and the role of health and safety measures in the industry’s recovery.

Key Industry Developments

• Technological Advancements: Ongoing research and development efforts are focused on integrating advanced technologies, such as sustainable propulsion systems, onboard automation, and connectivity solutions, to enhance the performance and efficiency of superyachts.
• Sustainability Initiatives: The industry is adopting sustainable practices, such as the use of alternative fuels, waste management systems, and eco-friendly materials, to reduce the environmental impact of superyachts.
• Customization and Personalization: Yacht builders and designers are offering increased customization options and tailored experiences to cater to the unique preferences of superyacht owners and charter clients.

Analyst Suggestions

• Sustainable Practices: Emphasize sustainability initiatives and integrate eco-friendly technologies to meet the growing demand for environmentally conscious luxury experiences.
• Customer-Centric Approach: Focus on personalized experiences, customization options, and exceptional customer service to differentiate offerings and attract discerning clients.
• Collaboration and Partnerships: Foster collaborations with technology providers, suppliers, and industry stakeholders to drive innovation, enhance product offerings, and promote sustainable growth.
• Charter Market Expansion: Invest in charter-focused marketing strategies, fleet expansion, and service enhancements to capture a larger share of the growing charter market.

Future Outlook

The future of the superyacht market looks promising, with steady growth expected in the coming years. Factors such as growing wealth concentration, evolving consumer preferences, technological advancements, sustainability initiatives, and the expansion of the charter market will drive market expansion. However, challenges related to high ownership costs, economic uncertainties, and regulatory constraints need to be addressed. By embracing sustainability, focusing on customization, and adopting advanced technologies, the superyacht market can thrive and cater to the evolving demands of luxury travelers.

The superyacht market continues to evolve, driven by the growing demand for luxury travel experiences, personalized services, and exclusive leisure activities. Superyachts offer unparalleled comfort, luxury, and customization, attracting high-net-worth individuals seeking unique and extraordinary experiences on the open waters. While challenges exist, opportunities lie in personalization, sustainability, emerging markets, and the expanding charter market. By embracing technological advancements, adopting sustainable practices, and focusing on customer-centric strategies, the superyacht market can navigate the ever-changing landscape and provide memorable luxury experiences for years to come.

Superyacht Market

Leading Companies in the Superyacht Market:

• Benetti Yachts
• Azimut Benetti S.p.A.
• Gulf Craft LLC
• Sanlorenzo Spa
• Princess Yachts International PLC
• Sunseeker International Limited
• Heesen Yachts

North America o US o Canada o Mexico

Europe o Germany o Italy o France o UK o Spain o Denmark o Sweden o Austria o Belgium o Finland o Turkey o Poland o Russia o Greece o Switzerland o Netherlands o Norway o Portugal o Rest of Europe

Asia Pacific o China o Japan o India o South Korea o Indonesia o Malaysia o Kazakhstan o Taiwan o Vietnam o Thailand o Philippines o Singapore o Australia o New Zealand o Rest of Asia Pacific

South America o Brazil o Argentina o Colombia o Chile o Peru o Rest of South America

The Middle East & Africa o Saudi Arabia o UAE o Qatar o South Africa o Israel o Kuwait o Oman o North Africa o West Africa o Rest of MEA

Important Questions Covered in this Study

• Which are the main companies that are currently operating within the market?
• What are the factors that are predicted to propel the growth of the market?
• What are the factors that are expected to limit the growth of the market?
• Which company had the largest market share?
• What are the main opportunities available in the market?
• What are the market size and growth rates of the various segments within the market?
• What are the market sizes and growth rates of the overall market or specific regions ?
• Which region or segment is projected to be the primary driver of market growth during the forecast period?
• What are the significant trends observed in the market?

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Yacht Market Size, Share, Growth & Industry Trends [2031]

Segments - Yacht Market by Type (Sport, Superyacht, Cruisers, Flybridge, Dufour, and Others), Propulsion (Sailing Yachts and Motor Yachts), Yacht Length (Up to 20 Meters, 20 to 50 Meters, and More Than 50 Meters), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Report Description

Yacht market outlook 2031.

The Global Yacht Market size was USD 9.35 Billion in 2022 and is likely to reach USD 13.98 Billion by 2031 , expanding at a CAGR of 5.8% during 2023–2031 . The market growth is attributed to the large number of High-Net-Worth Individuals (HNWI) and the high demand for eco-friendly yachts. Increasing demand for environmentally sustainable yachts is expected to fuel the yacht market. Modern yachts are being built lighter and with more fuel-efficient designs than their traditional counterparts, which minimizes environmental impact for even diesel-powered engines.  

Yacht buyers are increasingly seeking environmentally friendly alternatives to traditional powered engines. For instance, Herley Boats introduced the Herley Powercat 3400 , a luxurious high-performance hybrid vessel that is designed for the ultimate cruising experience. This vessel combines innovation and luxury to build the perfect platform for cruising, fishing trips, and family outings. The market report finds that the COVID-19 pandemic hindered the yachts market, due to the strict lockdown imposed by the government. During the pandemic, manufacturing delays, travel restrictions, and disruption in the supply chain impacted production which hampers the market. Yacht shows, events, and other programs are canceled due to the shutdown.

Impact of Artificial Intelligence in the Yacht Market

Artificial intelligence (AI) technologies are anticipated to boost the yacht market during the forecast period. AI technologies are used in the yachting industry to improve safety, efficiency, and navigation. It is used to improve the sailing experience by providing real-time information on weather conditions and optimizing routes. AI predicts the best destination to position a yacht for charter success by investigating data points and then calculating the best place to anchor and the fuel usage to get there.

In April 2023, Rossinavi No Stress a first hybrid yacht equipped with artificial intelligence. No Stress is an all-aluminum sporty yacht with a fast-displacing hull. The ship has a double power system; two MTU 16V 2000 M96L diesel engines and two electric motors motorized by both the battery pack and generators. The system is managed by AI which monitors its consumption.

Yacht Market Dynamics

Major drivers.

Increasing demand for personalized yachts is expected to drive the yacht market during the forecast period. Manufacturers are offering extensive customization options that allow customers to design vessels that align with their specific desires. Modern consumers expect the ability to customize anything and everything to fit their individual preferences.

In July 2023, Columbus Yachts launched M/Y Anjelif, the new 50-meter full custom-built yacht constructed entirely in aluminum. A model tailored to the needs of its experienced owner and packed with technological and stylistic advances such as hybrid and diesel-electric propulsion.

Existing Restraints

High maintenance costs of yachts are expected to hamper the yacht market in the coming years. Yachts require lots of maintenance and continuous cleaning, as they are moving platforms in harsh environments. If there are more equipment in the boat such as a water maker, electronics, generator, and others, where more maintenance is needed, thus, in turn, is likely to hamper the market.

Emerging Opportunities

Increasing advancements in developing new technologies is expected to create lucrative opportunities for the market players. Several companies are focusing on developing innovations such as hydrogen power and electrical power with a strong engine with lighter body weight and high horsepower.

In October 2023, BLUE INNOVATIONS GROUP INC launched its flagship creation, the R30 electric boat. The R30 is a 30-foot marvel, that boasts a 221-kWh battery pack with an 800HP dual motor powertrain and integrated UI. The boat can accommodate up to 12 people for 8 hours.

Scope of Yacht Market Report

The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Yacht Market Segment Insights

Type segment analysis.

Based on type, the yacht market is divided into sport, superyacht, cruisers, flybridge, dufour, and others. The superyacht segment is expected to expand at a significant pace during the projection period, due to the increasing popularity of these yachts. Superyachts are large and luxurious pleasure vessels and ranging from 40 meters to more than 180 meters. They are designed to emphasize speed, comfort, and expedition capacity. There are five different areas in a superyacht group such as captain, chef, interior staff, deck crew, and engineers. All superyachts have below-deck crew areas, which usually consist of a crew mess, laundry rooms, and crew cabins.

In August 2023, ABEKING & RASMUSSEN launched a masterpiece called the majestic superyacht LIVA, measuring a remarkable 118.20 meters in length. This iconic yacht has a sleek black hull that stands out on the water as an icon of elegance and sophistication.

The sport segment is anticipated to hold a key share of the market in the coming years , owing to the increasing demand for sports yachts in emerging countries such as France and China. Sports yachts are used for sports tournaments, marine tourism, and other activities. High demand for recreational tournaments and increasing affinity for outdoor recreational activities is expected to boost the sport yacht in the market. Sport yacht has a stylish and sleek-looking flybridge and an open deck for a better experience and it reaches speeds from 30 knots to 50 knots. They are also deployed for racing purposes.

Propulsion Segment Analysis

In terms of propulsion, the global market is segregated into sailing yachts and motor yachts. The motor yachts segment is projected to register a considerable CAGR during the forecast period, due to the high speed and power and others. Yachts are highly preferred for their advanced equipment and systems that are installed in the motor yachts. Several consumers are purchasing motor yachts owing to their speed, convenience, and ease of handling. The segment growth is further attributed to the increasing demand for motor yachts for personal and recreational activities in emerging countries. The sailing yachts segment is anticipated to account for a major market share in the coming years, owing to the increasing technological advancements and growing focus on leisure activities. Sailing yachts are eco-friendly, cheaper, thrilling, and safer and these yachts use wind power to move through the water. They are typically built with wood, fiberglass, and a combination of the two. Sailing vessels cover long distances, deck space, design, and onboard facilities that are offered by motor yachts which makes them a more attractive option to the customers, which increases the demand for the segment in the market.

Yacht Length Segment Analysis

On the basis of yacht length, the yacht market is segmented into up to 20 meters, 20 to 50 meters, and more than 50 meters. The 20 to 50 meters segment is expected to register a robust growth rate during the forecast period, owing to the low maintenance costs and light wind sailing capacity. Yachts ranging up to 20 meters are used for both competitive and recreational activities, which is expected to boost the segment in the market. Several yachts in 20 to 50 meters size brackets are semi-custom models and built on a standard platform. They are the most cost-efficient to run compared to larger yachts and the running costs per meter are proportionally lower.

Regional Analysis

In terms of region, the global yacht market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe is expected to dominate the market during the projection period, owing to the increasing yacht sales and rising popularity of water sports & fishing activities. The regional market growth is further attributed to the increasing investments in recreational activities and coastal areas such as sail training adventures, kayaking, fishing, and others, and the rising number of trade shows hosted by recreational activities and manufacturers. The market in North America is anticipated to expand at a rapid pace in the coming years , due to the increasing disposable incomes of individuals and rising economy. The regional market growth is further attributed to the increasing popularity of chartering yachts for vacations and innovative technologies and designs.

According to the US Bureau of Economic Analysis (BEA) , in 2021 the outdoor recreation economy accounted for 1.9% (USD 454.0 billion) of current-dollar GDP for the nation.

The global yacht market has been segmented on the basis of

• Sailing Yachts
• Motor Yachts

Yacht Length

• Up to 20 Meters
• 20 to 50 Meters
• More Than 50 Meters
• Asia Pacific
• North America
• Latin America
• Middle East & Africa

Key Players

• Viking Yacht Company
• Sunreef Yachts
• Sanlorenzo Spa
• ROYAL HUISMAN
• Heesen Yachts Sales B.V.
• HanseYachts AG
• Groupe Beneteau
• FERRETTI S.P.A
• Damen Shipyards Group

Competitive Landscape

Key players competing in the global yacht market are Viking Yacht Company; Sunreef Yachts; Feadship; Sanlorenzo Spa; Oceanco; ROYAL HUISMAN; Heesen Yachts Sales B.V.; HanseYachts AG; Groupe Beneteau; FERRETTI S.P.A; and Damen Shipyards Group. These key players adopt various strategies including mergers, acquisitions, collaboration, partnerships, product launches, and production expansion to expand their consumer base globally.

In March 2023, Sanlorenzo Spa acquired a stake in Sea Energy, a company active in the production of electronic and electrical systems for the yachting industry. The experience and expertise of Sea Energy enable Sanlorenzo to benefit from excellent and highly specialized that are aimed at developing projects in line with the sustainability of Sanlorenzo.

In May 2022, Oceanco collaborated with CapserLabs, Dgallery, and Megalodon to launch its upcoming superyacht NFTs collection on the Ethereum Blockchain and Casper Blockchain.

Table Of Content

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Luxury Yacht Market Size, Share & Industry Analysis, By Type (Motor Yachts and Sailing Yachts), By Size (Upto 50 Meters, 50 to 100 Meters, and More than 100 Meters), By Application (Personal use and Commercial use), and Regional Forecast, 2024-2032

Last Updated: August 05, 2024 | Format: PDF | Report ID: FBI105396

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KEY MARKET INSIGHTS

The global luxury yacht market size was valued at USD 7.67 billion in 2023. The market is projected to grow from USD 8.75 billion in 2024 to USD 17.33 billion by 2032, exhibiting a CAGR of 8.9% during the forecast period.

A luxury yacht is a high-end recreational vehicle offering exclusive and luxurious amenities along with accommodation. These vessels are loaded with the most advanced features for their users. Luxurious yachts include spacious cabins, staterooms, a pantry facility, multiple decks with entertainment facilities, water sports equipment, such as jet skis, and water toys. They are also equipped with advanced navigation and safety systems. These vessels can be privately or commercially owned. Their demand has increased steadily in recent years. This can be attributed to lifestyle changes, such as increasing wealth, recreation & leisure trends, and growing yacht tourism.

The luxury yacht market faced significant challenges during the COVID-19 pandemic, with travel restrictions and border closures leading to declining sales and demand. Many potential buyers postponed or canceled purchases due to uncertainty. However, as vaccination rates increased and travel restrictions eased, the demand for luxury yachts surged. Affluent individuals sought seclusion and social distancing, driving private yachting demand. There was a shift in travel preferences toward remote destinations, leading buyers to customize yachts with personalized amenities and eco-friendly features. Despite initial setbacks, the luxury yacht market demonstrated resilience and adaptability. Manufacturers and brokers adjusted policies to meet changing customer demands, leading to a positive outlook for the market's recovery.

Luxury Yacht Market Trends

Electrification of Yachts a Growing Market Trend

Yacht manufacturers are expected to increase the production of electric yachts as they switch to batteries to produce zero-emission products. The prevalence of clean propulsion technology will drive the growth of electric yachts in the future. Electric yachts have few moving parts and do not require engine oil or gas. Additionally, these yachts are quiet and require little maintenance.

Electric luxury yachts produce more torque and efficiently convert stored kinetic energy into electricity. These yachts are environmentally friendly and emit no carbon dioxide, thereby reducing greenhouse gas emissions. A tough regulatory environment for traditional yachts and rising fuel prices will pave the way for the solid growth of electric yachts in the future. Huge investments from various manufacturers and government support measures will accelerate the demand for electric yachts. Moreover, companies are investing in R&D to develop new concepts for electrification.

• For instance, in June 2023, Porsche and Frauscher Shipyard announced the development of the Frauscher x Porsche 850 Fantom Air, an innovative electric yacht.

This venture marks Porsche's ambition to extend its electric prowess beyond the road and racing cars to promote maritime sustainability. This model combines aesthetics and innovation; the yacht utilizes the Premium Platform Electric (PPE) technology. It is integrated with a high-capacity 100 kWh lithium-ion battery , the latest-generation permanently excited synchronous electric motor (PSM), and state-of-the-art power electronics.

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Luxury Yacht Market Growth Factors

Increasing Number of UHNWIs to Surge Product Demand

The luxury yacht market is experiencing a significant surge in demand, primarily driven by the increasing number of global Ultra-high Net Worth Individuals (UHNWIs). Recent statistics reveal a notable rise in the proportion of UHNWIs, with the superyacht industry benefiting immensely from this trend. Leading yacht brokerage firms report record sales at top shipyards, with backlogs growing steadily. Additionally, there has been a remarkable increase in first-time charters, accounting for approximately 40% of the luxury charter market in 2021, according to insights from industry experts.

The growing wealth accumulation among billionaires and the super-rich fuels the demand for luxury yachts as affluent individuals seek extravagant investments that align with their lavish lifestyles. This trend is evident across various regions globally, with a particular emphasis on catering to the preferences and desires of ultra-rich clientele.

Furthermore, the steady rise in UHNWIs globally is expected to sustain the momentum in the luxury yacht market. Notably, regions, such as Asia Pacific, are anticipated to emerge as significant growth drivers for the luxury yacht market, owing to the rising affluence and luxury consumption trends in these regions. Overall, the increasing number of UHNWIs is a key factor propelling the growth of the luxury yacht market, shaping the industry landscape, and driving innovation in yacht design and customization to meet the evolving demands of ultra-rich clientele.

The growing desire among ultra-rich individuals to make extravagant investments that align with their affluent lifestyle further propels the demand for luxury yachts globally. This trend is underscored by the steady increase in wealthy individuals globally, particularly in regions, such as Asia Pacific, Europe, and other Middle Eastern countries. Thus driving the luxury yacht market growth.

RESTRAINING FACTORS

Environmental Concerns Related to Yachting Activities to Restrain Market Growths

Yachts have a significant impact on marine ecosystems. In busy waterways, the presence of luxury yachts can lead to algae and sedimentation, blocking solar radiation, degrading the water quality, and hampering marine life. In addition, sediments on yachts can change the water chemistry, making it either alkaline or acidic. The chemicals used to wash, operate, and protect yachts often mix with the water and seriously impact the environment, killing and debilitating wildlife. Since freshwater is commonly used for drinking water and fishing, such toxins in freshwater can affect humans as well.

New motor yachts, jet skis, sailing yachts, and other leisure boats have strict limits for nitrogen oxides (NOx), particulate matter, and hydrocarbons (HCs). In September 2021, representatives from the California Air Resources Board (CARB) proposed emission regulations for commercial yachts. Through these regulations, CARB aims to minimize harmful gas emissions. As recreational sailing is popular, protecting marine ecosystems and the environment has become an uphill battle. Regulatory measures and educational programs help raise awareness and reduce yacht-related pollution. But, protecting aquatic life and human health requires a concerted effort by yacht manufacturers, consumers, and regulators.

According to the International Maritime Organization, marine tourism resources are subject to various global threats to the oceans and marine systems, mainly due to anthropogenic factors. These include climate change, overfishing, bottom trawling (fishing nets along the seafloor), migration of invasive species, changes in inputs of waste, nutrients, and sediments to coastal and marine ecosystems, coastal urbanization, and loss of resources and natural capital in coastal areas, especially coastal wetlands.

Luxury Yacht Market Segmentation Analysis

By type analysis.

Higher Comfort Offered by Motor Yachts to Boost Their Demand

The market, based on type, is fragmented into motor yachts and sailing yachts. Motor yachts are the dominant and fastest growing segment. Motorized yachts provide larger space since they do not rely on winds and can cruise at high speeds, making them suitable for long-distance travels.

Sailing yachts have also showcased a significant growth rate in the market. This growth is due to their eco-friendliness and affordability. Sailing yachts have lesser budgets than motor yachts and are safer and more reliable.

By Size Analysis

Up to 50 Meters to Hold Largest Market Share Due to Affordability and Diverse Use

By size, the market is classified into up to 50 meters, 50 to 100 meters, and more than 100 meters. The up to 50-meter segment accounts for the largest global luxury market share. These yachts can be utilized for both personal activities and commercial use. Many manufacturers are developing new designs in this category.

• For instance, In January 2024, Tyde, the German luxury yacht manufacturer, collaborated with BMW to launch its second model, The Open. It is a 15-metre-long, fully-electric luxury day yacht.

The demand for superyachts and megayachts is rising in most developed countries, and there has been a notable surge in tourism in these nations. Therefore, the 50-100 meters segment is expected to record the highest CAGR, while the more-than 100 meters segment may exhibit a significant growth rate during the forecast period.

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By Application Analysis

Rising Disposal Income to Boost Product Use for Personal Activities

By application, the market is divided into personal use and commercial use.

In 2022, the personal use segment held the largest market share. Rapid urbanization, rising living standards, rising personal disposable incomes, and a growing population of high net worth individuals have increased spending on luxury goods and leisure activities. These factors are anticipated to fuel the growth of the personal use segment. Therefore, luxury yacht services have also seen a significant increase in demand in recent years.

Rising commercial get-togethers, such as corporate events, parties, sailing competitions, and fishing activities, have boosted the growth of the commercial use segment.

REGIONAL INSIGHTS

Regionally, the market is analyzed across North America, Europe, Asia Pacific, and Rest of the World.

Europe Luxury Yacht Market Size, 2023 (USD Billion)

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Europe is expected to hold the largest market share. This region has the potential to dominate the market due to the strong growth of maritime tourism and wide range of tourist destinations. Countries, such as Croatia, Greece, France, Spain, and Italy are the region's top tourist destinations and highest income earners. The rise in the popularity of fishing activities and water sports and growing upper-class population are expected to drive the market development in the region during the forecast period. Rising booking of European air tickets, strong online demand for yacht charter service providers, and increased insurance of vessel permits are expected to drive market growth in the region. The region's wealthy population is also likely to drive the market growth.

North America holds the second-largest position in the market as the region's diverse coasts have become great cruise destinations. The U.S. dominates this regional market due to the presence of major charter hubs within the country.

Asia Pacific is expected to be the fastest growing region in the next few years. This growth has been credited to rapid urbanization, rising living standards, and rising disposable incomes. Leisure activities, such as fishing and water sports are becoming more popular in Thailand, Malaysia, Singapore, China, Japan, and Australia. Maritime tourism is also rising, presenting significant opportunities for yacht manufacturing companies. In addition, aggressive government initiatives for marine tourism development, especially in countries, such as India and China, are expected to boost the regional market growth.

List of Key Companies in Luxury Yacht Market

Significant Product Offerings by Azimut Benetti Will Strengthen its Growth Prospects

Azimut Benetti is the first among all key players leading a global private group in the yachting sector, established in 1969 and headquartered in Viareggio, Italy. It has more than 50 years of experience in the sector. The company has achieved 60% growth in the last four years and has a 526,000 sq.m. production facility and 138 showrooms in 80 countries globally. It is known for continuous innovation and experimentation; it has been the world’s leading manufacturer of mega yachts and shipyards with the widest range of models for 23 years. The company has 168 projects under construction, totaling 5,991 meters in length, making it rank first, for the 23rd time in a row, in the annual ranking of the largest yacht builders. The company has major brands, such as Azimut, Benetti, Yachtique, and Lusben.

LIST OF KEY COMPANIES PROFILED:

• Azimut Benetti S.p.A. (Italy)
• Sanlorenzo S.p.A (Italy)          
• Ferretti Group (Italy)
• Feadship (Netherlands)
• Princess Yachts (U.K.)
• Sunseeker Yachts (U.K.)
• Fr. Lurssen Werft GmbH & Co. KG (Germany)
• ISA Yachts (Italy)
• Ocean Alexander (Taiwan)
• Kingship Marine Limited (China)

KEY INDUSTRY DEVELOPMENTS:

• January 2024: Mayla Hamburg, a Germany-based manufacturer, is a new entrant into the luxury yacht market. It has announced the unveiling of a magnificent new water vessel. The 'GT' is a luxury yacht that can be powered by diesel and gas, as well as hybrid and electric. This particular yacht boasts a hull that is made entirely out of carbon prepreg materials weighing as low as 3.8 tons. This combination of top-notch powertrain options and low weight makes its speed between 50 and 100 knots. The yacht's luxury amenities include a sundeck, BBQ, high-end audio system, sofa lounge and more.
• November 2023: Gulf Craft announced the exploration of hydrogen technology for its superyacht fleet. Gulf Craft partnered with H2-Enterprises to explore & develop a zero-emissions Majesty yacht, which could be powered by an innovative LOHC (Liquid Organic, Hydrogen Carrier) energy system. H2-Enterprises has been working on this technology for the last 13 years and has now reached the stage of development to power a superyacht.
• June 2023: Sanlorenzo launched a 47-meter explorer yacht called Para Bellum. The company’s tenth yacht is in its high-selling 460-500 EXP series. It is powered by twin Caterpillar engines that reach a cruising speed of 13 knots.
• May 2023: The Kadey-Krogen Group (Florida) acquired American Tugs in LaConner, Washington. American Tugs was founded in 1999 and is a leading builder of high-quality, U.S.-built coastal cruisers with a vast customer base in North America and Europe. The company has delivered over 250 cruising yachts and five commercial vessels from its 2,600 sq.m. facility.
• April 2023: Ferretti Group launched the Pershing 140. It is the company’s first flagship model entirely built from aluminum in the Ancona facility. The Pershing 140 yacht is equipped with four MTU 16V 2000 M96L engines, each rated at 2,600 hp, providing a cruising speed of 35 knots and a top speed of 38 knots.

REPORT COVERAGE

The market report provides a detailed analysis and focuses on key aspects, such as leading companies, product types, end-users, design, and technology. Besides this, it offers in-depth insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the market's growth in recent years.

An Infographic Representation of Luxury Yacht Market

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Frequently Asked Questions

Fortune Business Insights says that the global market was valued at USD 7.67 billion in 2023. The global market is projected to grow to USD 17.33 billion by 2032.

The market is expected to register a CAGR of 8.9% during the forecast period of 2024-2032.

Increasing number of UHNWIs across the globe is expected to surge the market growth.

Europe led the global market in 2023.

• STUDY PERIOD: 2019-2032
• BASE YEAR: 2023
• HISTORICAL DATA: 2019-2022
• NO OF PAGES: 200

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The global luxury yacht market size is projected to grow from $8.75 billion in 2024 to $17.33 billion by 2032, at a CAGR of 8.9% during the forecast period

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Global Superyacht Market Report By Length (<120 ft., 12-250 ft., >250 ft.), By Price (<$25 m, $25 - $100 m, >$100 m), By Propulsion (Motor, Sail, Electric/solar) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2023-2032

Market dynamics, market segmentation.

• <120 Ft.
• >250 Ft.
• $25 - $100 M
• Electric/Solar

Regional Analysis

Global superyacht market share by region (representative graph).

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Code: IMR0807   |    Automotive &Transportation   |    Oct-2021   |    130 Pages   |   

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In 2021, the Global Superyacht Market’s size was valued at USD 7.5 billion and is estimated to reach USD 14.1 billion by 2028 and is expected to be growing at a CAGR of 8.6 % throughout the forecast period. In this report, 2021 has been taken as the base year while 2020 is the historical year. The forecast year for the report is 2028 to approximate the size of the market for Superyacht.

Icon Market Research’s report on Superyacht studies the past and current opportunities of growth and trends to get a clear picture of the growth indicators of the market for the forecast period 2021 to 2028. The report also offers the revenue generated by the Superyacht market considering 2020 as the historical year, 2021 as the base year, and 2028 as the forecast year. The report also consists of the compound annual growth rate (CAGR) for the Superyacht market over the forecast period.

Report Overview of Superyacht Market

The Superyacht market report provides information and statistics on market shares, size, restraining factors, and driving factors for the forecast period 2021 to 2028. It also mentions the role of main market players in the automotive industry. The report on Superyacht market evaluates the value of the market report, keeping in mind the application and regional segments, market share, and size while forecasting the market for each product type and application of the Superyacht market in different segments of the report. The research report also mentions some sections of the Superyacht market including opportunities, growth, trend, size, demand, and technology used by prominent players of the market. Then, it gives detailed profiles of the key players as a part of the competitive landscape of the Superyacht market.

The study of the report divides it into several sub-segments and represents the whole automotive industry. An estimation of the revenue generated by the entire automotive industry and its sub-segments are also provided in the report. It decides the factors that affect the demand of the automotive industry rapidly, including methods of development, growth networks, and the product model. The report also points out the greatest prospects for the growth of the automotive market such as forecasting the growth of the market, the launch of new goods, and analysis of the product demand, purchase decisions, several economic factors that are important to determine the trend of Superyacht market, and the attractiveness of the market. The report on the Superyacht market will help in assisting the stakeholders in identifying high-potential customers, such as distributors and manufacturers.

Methodology of Superyacht Market

The methods used for collecting information for the report involve 4 main activities. These activities help in estimating the current size of the Superyacht market. Thorough secondary research was conducted to collect information on the Superyacht market, such as new technologies coming into the market, and components connected with this market. Then the collected information was validated with experts from the automotive industry across all the value chains through primary researches. Both top-down and bottom-up approaches were used for estimating the market size.

The secondary research includes collecting data from sources such as government publications such as country-level automotive associations and organizations, World Bank, Eurostat, Organization for Economic Co-operation and Development (OECD), and CDC; regulatory and corporate filings such as SEC filings, annual reports, investor presentations, and business magazines, financial statements, press releases, and research journals, free and paid automotive databases such as Organization International des Constructer’s d’Automobiles (OICA), Marlines, etc., and trade, business, and professional associations. The secondary data collected was then analyzed to predict the overall size of the market which was later validated with primary research.

Thorough primary research was done after getting a clear picture of the Superyacht market through secondary research. Many market experts were interviewed for the primary research from both the supply-side players and demand-side players and across four major regions, namely, Europe, North America, Asia Oceania, and the Rest of the World. Apart from the interviews, primary data was collected through mails, questionnaires, and telephonic interviews.

Growth Mapping of Superyacht Market

The main aim of the Superyacht report is to give the map of the growth for the Superyacht market that will help in providing the clients with the required information for the formulation strategies to meet their respective business goals. The report also provides deep knowledge of the Superyacht for the previous year as well as for the forecast years and what the CAGR level of the market is going to be. This report is a synopsis of what the market conditions are going to be while also giving information regarding the market’s definition, classifications, applications, and engagements are. This report also aims to analyze the Superyacht market’s developments including the market improvement, market position, and others which are usually done by the prominent players and brands of the automotive industry. This report also consists of all the market drivers and restraints which are obtained through SWOT analysis. The report also has the CAGR values of the Superyacht market for the base years 2021, the historic year 2020, and forecast years 2021-2028.

Regional Analysis of Superyacht Market

The Superyacht market report provides a study for more than 20 countries and their market players The report covers a regional and country-level analysis that covers North America, South America, Europe, Asia Pacific (APAC), Africa, and the Middle East. The market is deeply analyzed for each region, which helps in identifying the market trends for each region, growth opportunities, and restraining factors.

For the forecast year 2021-2028, it has been estimated that North America will the dominating market for Superyacht. This region is expected to see growth in the automotive industry because of the increasing population, increase in per capita income, and improvement in living standards. There has been an increase in demand for comfort features in vehicles and fuel-efficient vehicles which accelerates the growth of the Superyacht market. The weight reduction of vehicles and enhanced energy efficiency is further driving the automotive industry. The other factors which are driving the growth of the Superyacht market include the development of marketing analytics tools and firmly established existing players in the market. In addition to this, government agencies, companies, third-party administrators, etc. are channelizing their efforts to make customer-centric automotive products which will also contribute to the growth of the Superyacht market in this region. Rising demand for vehicles and their parts, increased investment by the government, new and advanced technology, and machinery, along with the improved marketing tactics will likely cause the Superyacht market to grow substantially.

The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period (2021-2028). This growth is driven by the increasing research activities, growing demand for vehicles and parts, and an increasing number of initiatives by market players for expanding their presence in the APAC, and higher adoption of Superyacht in several APAC countries. Improvements in GDP per capita and infrastructure development have urbanized the region to a greater extent turning rural areas into urban areas. The sudden surge in the demand has caused the cities to fall into unsustainable consumption models. The top key players in the Superyacht market are located in the region. China and India are expected to offer significant growth opportunities for players operating in the Superyacht market, owing to the growing support from government bodies, increasing demand for new vehicles with special features, and the presence of less-stringent regulations and data requirements (as compared to developed countries) in their respective healthcare systems.

Competitive Landscape of Superyacht Market

The report provides a competitive landscape on both the quantitative as well as qualitative research of Superyacht market. The report also provides detailed insights on the development methods used by the key market players. The report offers deep research on the key market players and details on the competitiveness of these players. The main business strategies used by these players such as mergers and acquisitions (M&A), collaborations, affiliations, and contracts are also and analyzed in the report. For each competitor, the report studies their global presence, service offerings, competitors, and specification. The main players covered by the study on the global Superyacht market are: Azimut-Benetti Group, Feretti Group, Sanlorenzo, Feadship, Gulf Craft, Torquoise Yacht, Ocenanco, Sunseeker, Horizon Yachts, The Italian Sea Group, Heesen yachts, Princess Yachts, Lynx Yachts, and Ocean Alexander.

The Report Provides Insights on The Following Pointers:

●        It gives a forecast analysis of factors that are driving or restraining the development of the Superyacht market.

●        The report gives a seven-year forecast value evaluated on the basis of the current market performance of the automotive industry.

●        It helps in understanding the main segments of the products and their future.

●        The report gives a deep analysis of changing competition in the market which keeps you ahead of your competitors.

●        The report gives the market definition of the Superyacht market along with the analysis of different factors influencing the market such as drivers, opportunities, and restraints.

The Report Answers Questions Such As:

●        What is the potential opportunity for the Superyacht market?

●        What are the major drivers, restraints, and opportunities of the Superyacht market?

●        What is the market share of the leading segments and sub-segments of the Superyacht market in the forecast period (2021-2028)?

●        How did the Superyacht market evolve?

●        How each segment of the Superyacht market is expected to grow during the forecast period?

●        What is the expected revenue to be generated by each of the segments by the end of 2028?

●        What are the key development strategies implemented by the key players to stand out in this Superyacht market?

●        What is the preferred business model used for building Superyacht?

●        Which area of application is expected to be the highest revenue generator in the Superyacht market during the forecast period?

●        Which end-user segment is expected to be the highest revenue generator in this industry during the forecast period?

●        What is the potential of Superyacht market in the emerging countries during the forecast period?

Azimut-Benetti Group

Feretti Group

Torquoise Yacht

Horizon Yachts

The Italian Sea Group

Heesen yachts

Princess Yachts

Lynx Yachts

Ocean Alexander

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Region North America Europe Asia-Pacific Latin America Middle East and Africa

Superyacht Market By Segments, By Region and Companies - Market Analysis, Trends, Revenue Opportunity, Competitive Analysis, and Forecast 2023-2032

Description

• Table of Contents

Superyacht Market Overview:

The Superyacht Market overview provides a comprehensive understanding of the analyzed market. It includes an introduction to the market, its size, growth rate, and key trends. This aims to give clients a broad understanding of the market landscape. The market analysis of the Superyacht Market delves deeper into the market dynamics, focusing on factors such as market drivers, challenges, and opportunities. It explores the macroeconomic and microeconomic factors affecting the market, industry regulations, and emerging market trends. The analysis provides valuable insights into the current and future market conditions.

The assessment of the Superyacht Market is performed by taking various factors into consideration, like, for instance, the business expansion policies of key players, competitive analysis of the progress of new entrants and emerging players, and the revenue, financial, and opportunity analysis of market players. The also analyzed based on regional segmentation, type or technique, end-user spectrum, etc. This research implements the latest methodologies to help clients understand the overall market scenario and strategize accordingly. The Superyacht Market report provides an overview of the different types of analysis conducted during the market research process, including but not limited to SWOT analysis, Porter's Five Forces analysis, PESTLE analysis, and market forecasting. These analyses provide a deeper understanding of the market dynamics and assist in making informed business decisions.

Major players included in the Superyacht Market:

• Horizon Yacht USA
• Azimut Benetti
• Damen Yachting
• Ocean Alexander
• Overmarine Group Spa
• THE ITALIAN SEA GROUP SpA
• Ferretti SpA

Superyacht Market Segmentation:

• 30-80 meter
• Above 80 meter

By Application

By Propulsion

Future Market Analytics Focus Points:

• SWOT Analysis
• Key Market Trends
• Key Data -Points Affecting Market Growth
• Revenue and Forecast Analysis
• Growth Opportunities For New Entrants and Emerging Players
• Key Player and Market Growth Matrix

Superyacht Market Competitive Analysis:

The competitive analysis of the Superyacht Market assesses the competitive landscape of the market. It includes evaluating key players in the industry, their market share, business strategies, and competitive advantages. The competitive analysis also highlights the strengths and weaknesses of major competitors, allowing clients to understand the competitive positioning of companies operating in the market.

Objectives of the Study:

• To provide a comprehensive analysis on the Superyacht Market by segmentation and by region
• To cater extensive insights on factors influencing the market growth (drivers, restraints, industry-specific restraints, business expansion opportunities)
• To anticipate and analyse the market size expansion in key regions- North America, Europe, Asia Pacific, Latin America and Middle East and Africa
• To record and evaluate competitive landscape mapping- strategic alliances and mergers, technological advancements and product launches, revenue and financial analysis of key market players

How our market research reports help clients:

Our market research reports provide valuable insights to clients in their decision-making process and support their growth and market capture efforts. They offer:

• Comprehensive understanding of market trends, dynamics, and growth potential.
• Identification of niche markets and emerging opportunities.
• Assessment of competitive landscape and strategic benchmarking.
• Insights into consumer preferences, buying behavior, and market demand.
• Risk assessment and mitigation strategies.
• Market forecasting and trend analysis for informed business planning.
• Understanding product development, pricing, and other strategies.

In case of any specific requirements or changes to the current table of content based on your scope, please contact us at: [email protected]

Superyacht Market Introduction

• Objectives of the Study
• Market Definition
• Years Considered for the Study
• Market Covered
• Limitations
• Stakeholders

Research Methodology

• Key Data from Secondary Sources
• Key Data from Primary Sources
• Market Size Estimation
• Market Breakdown and Data Triangulation
• Assumptions for the Study

Executive Summary

• Market Outlook
• Segment Outlook
• Competitive Insights

Superyacht Market Variables, Trends & Scope

• Market Lineage Outlook
• Penetration and Growth Prospect Mapping
• Industry Value Chain Analysis
• Cost Analysis Breakdown
• Technology Overview
• Reimbursement Framework
• Standards and Compliances

Superyacht Market Overview

• Market Driver Analysis
• Market Restraint Analysis
• Industry Challenges

Superyacht Market Analysis Tools

• Supplier Power
• Buyer Power
• Substitution Threat
• Threat from New Entrants
• Competitive Rivalry
• Political Landscape
• Environmental Landscape
• Social Landscape
• Technology Landscape
• Legal Landscape

Superyacht Market, By Segmentation Historical Analysis 2017-2022 and Forecast 2023-2032 (USD million)

North america market analysis 2017-2022 and forecast 2023-2032 (usd million).

• Introduction
• Rest of North America
• Market Size (USD Mn) Forecast for North America 2023-2032

Latin America Market Analysis 2017-2022 and Forecast 2023-2032 (USD Million)

• Regional Market Trends
• Rest of Latin America
• Market Size (USD Mn) Forecast for Latin America 2023-2032

Europe Market Analysis 2017-2022 and Forecast 2023-2032 (USD Million)

• Switzerland
• Rest of Europe
• Market Size (USD Mn) Forecast for Europe 2023-2032

Asia Pacific Market Analysis 2017-2022 and Forecast 2023-2032 (USD Million)

• Australia and New Zealand
• Rest of Asia Pacific
• Market Size (USD Mn) Forecast for Asia Pacific 2023-2032

Middle East and Africa Market Analysis 2017-2022 and Forecast 2023-2032 (USD Million)

• South Africa
• Saudi Arabia
• Rest of MEA
• Market Size (USD Mn) Forecast for MEA 2023-2032

Superyacht Market Company Profiles:

We will provide a Company Overview (HQ, Business Segments, Employee Strength), Technology Portfolio, Competition Dashboard, Competitors Deep Dive, SWOT Analysis, Financial Overview/Layouts, and Strategic Overview of the above company profiles.

(Note: The list of the major players will be updated with the latest market scenario and trends)

Impact of COVID-19

• Positive influence on the industry
• The financial disruption of the sector
• Impact of COVID-19 on emerging companies
• Significant mandates in the industry regulations initiated by administrations
• The overall economic slowdown of the developing and developed nations

Competitive Intelligence and Competitive Matrix

• Competitive Intelligence
• Competitive Matrix

Major Deals and Strategic Alliances Analysis

• Joint ventures
• Mergers and acquisitions
• Licensing and partnerships
• Technology Collaborations
• Strategic Divestments
• Market Entry Strategies

Relevant Case Studies and Latest News Updates

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Company Info

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Your Local Broker, Internationally

Berthon UK (Lymington, Hampshire - UK) Sue Grant [email protected] 0044 (0)1590 679 222

Berthon France (Mandelieu La Napoule, France) Bruno Kairet [email protected] 0033 (0)4 93 63 66 80

Berthon Scandinavia (Henån, Sweden) Magnus Kullberg [email protected] 0046 304 694 000

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Berthon publishes an annual Market Report, reviewing yacht sales over the previous year and looking at what we believe will be the important trends and changes in the year ahead. Berthon are bluewater specialists and manage luxury yacht sales through a network of international offices.

Download Market Report 2024 (6.33MB)

• The Market Report 2024 by Sue Grant
• Sailing Yacht Review by Alan McIlroy & Harry Lightfoot
• Motor Yacht Review by Hugh Rayner & Harry Hamson
• Performance Yacht Review by Ben Cooper
• New Motor Yacht Sales by Robert Steadman
• Marketing Team Report by Lawrence Carter, Sophie Kemp , Harry Shutler & Isabel Moss
• Berthon USA Review by Jennifer Stewart , Alan Baines , Bill Rudkin , Peter Houghton & Jeanie Houghton
• Berthon Spain Review  Yacht Sales by Simon Turner & Nathalie Miquel-Elcano
• Berthon Spain Review Service and Refit  by Rowan Fairbrass
• Berthon Scandinavia Review by Magnus Kullberg
• Solaris Yachts Review by Richard Baldwin & Alan McIlroy
• VAT / Customs – It’s a New Dawn, It’s a New Day… by Simon Anslow of PKF Francis Clark
• Bluewater Cruisers – The Future Is Now by Marko Paš of Marine Designs (founder & director of Pegasus Yachts)
• World ARC – Sailing Your Dream by Rachel Hibberd, World Cruising Club
• Checkmate (Our New Look Cool Board)
• Mending the Marine Industry Skills Gap by Keith Longman
• Yacht Ownership – the March Towards an Easier Life by Sue Grant
• Yacht Brokerage Bumps in the Road for 2024
• Berthon Forecast 2024 by Sue Grant

The Adjoining Berthon Collection

Last Year’s Market Report 2023

• The Market Report 2023 by Sue Grant
• Sailing Yacht Review by Alan McIlroy; Footnote by Harry Lightfoot
• Motor Yacht Review by Hugh Rayner; Footnote by Harry Hamson, on Windy Brokerage
• A word from Michael White , affectionately known by the team as Chalky
• Berthon USA Review by Jennifer Stewart, Alan Baines, Bill Rudkin, Mark von Drashek and Peter Houghton
• Berthon France Review by Isabelle Skaf
• Berthon Spain Review Service & Refit by Rowan Fairbrass
• Berthon Spain Review Yacht Sales by Simon Turner, Ben Toogood and Nathalie Miquel-Elcano
• Solaris Review by Richard Baldwin and Alan McIlroy
• VAT / Customs – A Brave New World by Simon Anslow
• Keep Calm and Carry on Yachting by Sue Grant
• Yacht Transport by Mike Herrebrugh, Sevenstar Yacht Transport
• COOL to the point of freezing
• Harry Camera @ Berthon by Sue Grant
• Yacht Finance in 2023 – Close Brothers, Aviation and Marine by James Crew, Marine Sales Director
• Information Overload by Sue Grant
• Yacht Sales in the 21st Century by Sue Grant
• 2023 Berthon Forecast by Sue Grant

Last Year’s Market Report 2022

• The Market Report 2022 by Sue Grant
• Sailing Yacht Review by Alan McIlroy; Footnotes from Sophie Kemp & Harry Lightfoot
• Motor Yacht Review by Robert Steadman; A footnote from Harry Hamson
• New Motor Yacht Sales by Hugh Rayner
• Berthon USA Review by Jennifer Stewart, Alan Baines, Bill Rudkin and Mark von Drashek
• Berthon France Review by Bruno Kairet
• Berthon Spain Review Service & Refit by Andrew Fairbrass
• Berthon Spain Review Yacht Sales by Simon Turner and Ben Toogood
• Canine Stick Report by the Canine Division
• VAT Life After Brexit – One Year On By Simon Anslow
• The Practicalities & Possibilities of Delivery by Sea by Peter Kloezeman
• The Wallflowers of a Buoyant Market by Sue Grant
• Yacht Insurance by Richard Power
• COVID-19 and the Yacht Market by Sue Grant
• Yachting & the Supply Chain by Sue Grant
• 2022 Berthon Forecast by Sue Grant

Market Report 2021

• The Market Report 2021 by Sue Grant
• Sailing Yacht Review by Alan McIlroy; A footnote from Sophie Kemp
• Berthon Spain Review Yacht Sales by Simon Turner
• The Other Side of Brexit – VAT & Customs by Simon Anslow
• Brexit & Yacht Registration by Duncan Swanson – The UK Ship Register & Yachts in a post Brexit environment by Duncan Swanson of Ocean Skies.
• The Recreational Craft Directive by Alasdair Reay
• International Boat Shows by Sue Grant
• COVID-19 and The Yacht Market by Sue Grant
• The Business End of the Yachting Business and Meeting the Yachtsman’s Expectation by David Tydeman
• 2021 Berthon Forecast by Sue Grant

Market Report 2020

• The Market Report 2020 by Sue Grant
• Sailing Yacht Review by Alan McIlroy; footnote by Sophie Kemp
• Motor Yacht Review by Hugh Rayner
• The Windy UK and Pearl Yachts Review by Ben Toogood
• The Iguana Yachts Review by Robert Steadman
• Berthon USA Review by Jennifer Stewart and Alan Baines
• Berthon Spain Review by Andrew Fairbrass
• Solaris Review by Alan McIlroy and Richard Baldwin
• VAT vs. Brexit by Simon Anslow
• Brexit and getting on with life…
• Saving the Planet and Yachting
• Our Old Friend Currency
• Buying a New Yacht – some of the pitfalls, along with the fun
• The 2020 Berthon Forecast by Sue Grant

Editor’s Note: Much of the 2020 Berthon Market Report was written before the Covid-19 crisis gathered momentum. We decided to continue with this publication, just updated slightly. Of course we cannot know the impact of this crisis on all aspects of life going forward not just yachting, so we will not guess. We ask you all to stay safe, keep well and we hope that you will enjoy these jottings.

Market Report 2019

• Market Report 2019 Opening Remarks By Sue Grant
• Sailing Yacht Review By Alan McIlroy; footnote by Sophie Kemp
• Motor Yacht Review By Hugh Rayner; footnote by Robert Steadman
• Performance Yacht Review By Ben Cooper
• The Windy UK, Pearl and Iguana Review By Ben Toogood
• Berthon USA Review By Jennifer Stewart, Alan Baines, Bill Rudkin and Mark von Drashek
• Berthon France Review By Bruno Kairet
• Berthon Spain Review By Andrew Fairbrass
• Solaris Review By Richard Baldwin and Alan McIlroy
• THE CONFIDENCE & CURRENCY GAME
• INTERIOR DESIGN FOR YACHTS and why it matters…
• INFORMATION DELIVERY and the WORLDWIDE WEB in 2019
• HIGH LATITUDE CRUISING Steve & Linda Dashew look at the design and the risks
• IPV – BERTHON BRINGS YOU ANOTHER NEW ACRONYM TO CONJURE WITH…
• TECHNOLOGY and the YACHT MARKET
• 2019 Berthon Forecast By Sue Grant

Market Report 2018

• Market Report 2018 (Opening Remarks) By Sue Grant
• Sailing Yacht Review By Alan McIlroy and Sophie Kemp
• Motor Yacht Review By Hugh Rayner
• Performance Yacht and Advanced Yachts Review By Ben Cooper
• Solaris Review By Richard Baldwin
• The Windy UK Review By Ben Toogood
• Berthon USA Review By Jennifer Stewart, Alan Baines and Bill Rudkin
• A word about GDPR
• The Pacific and Southern Hemisphere as a cruising destination
• Technology in Design moving through the build process
• Residual Yacht value and the cost of having fun
• Talking points – cool to the point of freezing
• VAT and Brexit- What it might, might not and certainly won’t mean
• The Magic of Film
• General overview of the international stock markets and economies
• 2018 Berthon Forecast

Download Past Issues of the Berthon Market Report

• Berthon Market Report 2023 (PDF 9.16MB)
• Berthon Market Report 2022 (PDF 9.75MB)
• Berthon Market Report 2021 (PDF 3.20MB)
• Berthon Market Report 2020 (PDF 2.19MB)
• Berthon Market Report 2019 (PDF 1.96MB)
• Berthon Market Report 2018 (PDF 2.1MB)
• Berthon Market Report 2017 (PDF 2.5MB)
• Berthon Market Report 2016 (PDF 2MB)
• Berthon Market Report 2015 (PDF 7MB)
• Berthon Market Report 2014 (PDF 2MB)
• Berthon Market Report 2013 (PDF 2MB)
• Berthon Market Report 2012 (PDF 2MB)
• Berthon Market Report 2011 (PDF 2MB)
• Berthon Market Report 2010 (PDF 1MB)
• Berthon Market Report 2009 (PDF 3MB)
• Berthon Market Report 2008 (PDF 8MB)

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• / Market Insights
• Superyacht Market Analysis

SUPERYACHT MARKET ANALYSIS

Superyacht market, by yacht type (motor yacht, sailing yacht, and others), by yacht size (below 40 meter, 40-80 meters, and above 80 meters), by geography (north america, latin america, europe, asia pacific, middle east & africa).

• Published In : Jul 2024
• Code : CMI2333
• Pages : 195
• Formats :   Excel and PDF
• Industry : Automotive and Transportation

The global superyacht market has been facing considerable restraints in its growth trajectory due to prevailing volatile economic conditions across several countries worldwide. The geopolitical uncertainties caused by issues such as rising trade tensions, Brexit negotiations, national elections, etc. have negatively impacted the confidence of wealthy customers in making big-ticket luxury purchases. This is reflected in the declining numbers of superyacht orders and deliveries over the past couple of years.

Market Opportunities: Growth of Charter Segment

The global superyacht market has seen steady growth over the past decade, driven significantly by the charter business. As affluent individuals seek new experiences and ways to vacation without the hassles of ownership, chartering superyachts has emerged as a popular luxury option. This allows travelers to enjoy all the amenities and services of a large yacht without the high ownership costs. With more empty nesters and younger wealthy professionals valuing experiences over possessions, the flexibility and access provided by chartering is highly appealing.

Superyacht Market Report Snapshots

• Superyacht Market Size and Trends
• Superyacht Companies
• Superyacht Market Regional Analysis
• Superyacht Market Challenges And Opportunities
• Superyacht Market News

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Press Release

Superyacht Market to surpass US$ 40.17 Bn by 2031

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Superyacht Market

• Report Code: 2333,
• Published on: Jul 2024,
• Format: PDF

This Report Addresses

• Market size from 2024 to 2031
• Expected market growth until 2031
• Supplier and Demand Analysis
• Detailed analysis on market Drivers, Restraints, and Future Opportunities, and Trends of the industry
• Cross sectional analysis for all the Segments, across regions and 30 countries.
• Competitive landscape comprising of Company Market Share Analysis and Snapshot of Key Players.
• In-depth analysis on financials and sustainability strategies adopted by market players.
• Analyst recommendations

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• Leisure Products

Yacht Market Analysis Europe, North America, APAC, South America, Middle East and Africa - US, UK, Germany, China, Japan - Size and Forecast 2024-2028

• Published: Jul 2024
• SKU: IRTNTR75339

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Yacht Market Size 2024-2028

The yacht market size is forecast to increase by USD 4.05 billion and is estimated to grow at a CAGR of 7.44% between 2023 and 2028. The market size is experiencing significant growth, driven by several key factors. The increasing popularity of recreational tourism and the expanding high net worth individual (HNWI) population are primary growth catalysts. Moreover, there is a rising demand for eco-friendly yachts, as sustainability becomes a priority for many consumers. These trends are expected to continue fueling the market's expansion in the coming years.

What will be the Size of the Market During the Forecast Period?

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Market Dynamics and Customer Landscape

The market is advancing rapidly with innovations in material technology, focusing on hybrid systems for improved fuel usage and sustainability. Navigation enhancements and varied routes to exotic destinations like those offered by Royal Caribbean's cruise ships appeal to luxury travelers. The market landscape depends on the destination, world economy, hybrid and, customization choices , fly bridge yacht, sports yacht, cruiser yacht, Royal Caribbean, cruise ship, waterpark, Sport yachts. Customization options include custom interiors and specialized features like fly bridge yachts, sports yachts, and cruiser yachts , catering to diverse preferences. The introduction of eco-friendly options like the R30 electric boat underscores a shift towards sustainable practices in marine leisure. As the market adapts to global economic trends, luxury amenities such as waterparks onboard are becoming increasingly prevalent, reflecting a growing demand for opulent and eco-conscious yacht experiences. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The growing popularity of recreational tourism is a major driver influencing the growth of the market during the forecast period. Yachting is often associated with leisure and luxury and demand for yachts will increase as disposable income increases and free time for leisure activities such as surfing, water skiing, diving, and swimming increases.

Moreover, recreational activities have increased across the world as people seek ways to enjoy leisure time and maintain a healthy lifestyle. Hence, such factors drive market growth. Hence, such factors are driving the market growth during the forecast period.

Significant Market Trends

Increased demand for superyachts is an emerging trend boosting the market during the forecast period. The demand for superyachts, which are vessels over 80 feet in length has been steadily increasing. This is due to more buyers seeking larger and more luxurious yachts. The demand for luxury yachts is consistently high as wealthy individuals and families seek the ultimate luxury experience and exclusivity on the water.

Moreover, supery yachts offer unparalleled comfort, style, and personalized service, which makes them popular for high-net-worth individuals, celebrities, and business executives. Superyacht demand in developed countries like the US and the UK tends to be relatively high. Hence, such trends boost market growth during the forecast period.

Major Market Challenge

High maintenance and operating costs are major challenges hindering market growth during the forecast period. Owning a yacht is expensive in terms of the purchase price, maintenance, and operating costs, which can make it difficult for some buyers to justify the expense of owning a yacht, especially in times of economic uncertainty.

Hence, high maintenance and operating costs can significantly impact the sales of yachts. In addition to the initial purchase price, buyers of yachts must consider the ongoing expenses of fuel, maintenance, repairs, and insurance. Thus, the high maintenance and operating expenses cost can make yacht ownership unaffordable for many people, which can impact sales and hamper the growth of the global market during the forecast period.

Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Who are the Major Market Players?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Alexander Marine International Co Ltd. - The company offers yacht such as azimut grande tri deck, 37 legend ocean alexander, and 35 revolution ocean alexander.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Alexander Marine International Co Ltd.
• Azimut Benetti SpA
• Cantieri Navali Codecasa Tre SpA
• Dalian Wanda Group
• Damen Shipyards Group
• Feadship Holland BV
• Fincantieri Spa
• Flensburger Schiffbau Gesellschaft mbH
• Fr. Lurssen Werft GmbH
• Heesen Yachts Sales BV
• Horizon Yacht USA
• KPS Capital Partners LP
• Oceanco SAM
• Overmarine Group Spa
• Palmer Johnson
• Palumbo Group Spa
• Sanlorenzo Spa
• THE ITALIAN SEA GROUP SpA
• Viking Yacht Co.
• Westport Yachts

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segments in the Market?

The market share growth by the motor segment will be significant during the forecast period. In 2022, the motor yacht segment has a major share of the global market. Motor yachts are typically faster and more powerful than sailing yachts, which allows quicker and more efficient travel over longer distances. They also offer more space and amenities like larger cabins, luxurious interiors, and modern entertainment systems. Motor yachts are also easier to maneuver, which makes them more suitable for navigating narrow waterways or docking in tight spaces. The high share of this segment is because of the advantages offered by motor yachts, such as high speed and performance, and long-range coverage.

Get a glance at the market contribution of various segments View the PDF Sample

The motor  segment showed a gradual increase in the market share of USD 6.09 billion  in 2018 . These yachts are highly preferred by people because of the advanced systems and equipment, such as connected devices on board. Modern equipment is a major factor in selling such yachts globally. The robust demand for motor yachts indicates a strong interest in purchasing or using motor yachts for various purposes, such as cruising, fishing, or leisure activities. Hence, such trends will boost the segment growth during the forecast period.

Which are the Key Regions for the Market?

For more insights on the market share of various regions Download PDF Sample now!

APAC  is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

Another significant region contributing to the market growth is Europe. In 2022, Europe had the highest market share of the global market. The demand for yachts in Europe is driven by many factors, which include the region's vast coastline, a high concentration of wealthy individuals, and favorable weather conditions for boating activities. The demand is mostly driven by increased fishing and other water sports such as water skiing, diving, and swimming in European countries. Hence, such factors are driving the market growth in Europe during the forecast period.

• Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments

• Rest of Europe
• Saudi Arabia
• South Africa
• Rest of the Middle East & Africa

You may also interested in below market reports:

•  Yacht Painting and Maintenance Market:  Yacht Painting and Maintenance Market Analysis Europe,North America,APAC,Middle East and Africa,South America - US,Turkey,Italy,Greece,UK - Size and Forecast
• Luxury Yacht Market:  Luxury Yacht Market by Type, Application and Geography - Forecast and Analysis
• Leisure Boat Market:  Leisure Boat Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Italy, Canada, UK, France - Size and Forecast

Market Analyst Overview

The market is experiencing significant growth driven by advancements in technology and increasing demand for luxury travel experiences. Innovations such as smart connectivity, advancements in materials like aluminum and hybrid systems, and the integration of artificial intelligence have transformed yacht design. Manufacturers like Sunreef Yachts and Columbus Yachts are leading the way with models such as the 80 Sunreef Power and custom boats that offer distinctive amenities and customizable interiors.

Safety and efficiency improvements in diesel engines, fuel injection, and electronic controls enhance the sailing experience while reducing pollution, vibration, and noise levels. Yachts like the Royal Caribbean's Icon of the Seas feature opulent suites and onboard amenities like waterparks, appealing to luxury travelers . The market's growth analysis and forecasting consider factors like economy fluctuations, initial costs, taxes, and registration fees, influencing new sales and customizing choices in the yacht industry . Overall, the market continues to evolve with a focus on luxury, performance, and sustainability, offering bespoke cruising experiences tailored to discerning global clientele.

View PDF Sample

What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market  between 2023 and 2027
• Precise estimation of the size of the market and its contribution of the market with a focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of market vendors

We can help! Our analysts can customize this market research report to meet your requirements. 

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1 Executive Summary

• Executive Summary - Chart on Market Overview
• Executive Summary - Data Table on Market Overview
• Executive Summary - Chart on Global Market Characteristics
• Executive Summary - Chart on Market by Geography
• Executive Summary - Chart on Market Segmentation by Type
• Executive Summary - Chart on Market Segmentation by Application
• Executive Summary - Chart on Incremental Growth
• Executive Summary - Data Table on Incremental Growth
• Executive Summary - Chart on Company Market Positioning

2 Market Landscape

• Parent Market
• Data Table on - Parent Market
• Market characteristics analysis
• Value Chain Analysis

3 Market Sizing

• Offerings of companies included in the market definition
• Market segments
• 3.3 Market size 2023
• Chart on Global - Market size and forecast 2023-2028 ($ million)
• Data Table on Global - Market size and forecast 2023-2028 ($ million)
• Chart on Global Market: Year-over-year growth 2023-2028 (%)
• Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

• Historic Market Size - Data Table on Global Yacht Market 2018 - 2022 ($ million)
• Historic Market Size - Type Segment 2018 - 2022 ($ million)
• Historic Market Size - Application Segment 2018 - 2022 ($ million)
• Historic Market Size - Geography Segment 2018 - 2022 ($ million)
• Historic Market Size - Country Segment 2018 - 2022 ($ million)

5 Five Forces Analysis

• Five forces analysis - Comparison between 2023 and 2028
• Bargaining power of buyers - Impact of key factors 2023 and 2028
• Bargaining power of suppliers - Impact of key factors in 2023 and 2028
• Threat of new entrants - Impact of key factors in 2023 and 2028
• Threat of substitutes - Impact of key factors in 2023 and 2028
• Threat of rivalry - Impact of key factors in 2023 and 2028
• Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Type

• Chart on Type - Market share 2023-2028 (%)
• Data Table on Type - Market share 2023-2028 (%)
• Chart on Comparison by Type
• Data Table on Comparison by Type
• Chart on Motor - Market size and forecast 2023-2028 ($ million)
• Data Table on Motor - Market size and forecast 2023-2028 ($ million)
• Chart on Motor - Year-over-year growth 2023-2028 (%)
• Data Table on Motor - Year-over-year growth 2023-2028 (%)
• Chart on Sailing - Market size and forecast 2023-2028 ($ million)
• Data Table on Sailing - Market size and forecast 2023-2028 ($ million)
• Chart on Sailing - Year-over-year growth 2023-2028 (%)
• Data Table on Sailing - Year-over-year growth 2023-2028 (%)
• Market opportunity by Type ($ million)
• Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by Application

• Chart on Application - Market share 2023-2028 (%)
• Data Table on Application - Market share 2023-2028 (%)
• Chart on Comparison by Application
• Data Table on Comparison by Application
• Chart on Commercial - Market size and forecast 2023-2028 ($ million)
• Data Table on Commercial - Market size and forecast 2023-2028 ($ million)
• Chart on Commercial - Year-over-year growth 2023-2028 (%)
• Data Table on Commercial - Year-over-year growth 2023-2028 (%)
• Chart on Private - Market size and forecast 2023-2028 ($ million)
• Data Table on Private - Market size and forecast 2023-2028 ($ million)
• Chart on Private - Year-over-year growth 2023-2028 (%)
• Data Table on Private - Year-over-year growth 2023-2028 (%)
• Market opportunity by Application ($ million)
• Data Table on Market opportunity by Application ($ million)

8 Customer Landscape

• Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• Chart on Market share by geography 2023-2028 (%)
• Data Table on Market share by geography 2023-2028 (%)
• Chart on Geographic comparison
• Data Table on Geographic comparison
• Chart on Europe - Market size and forecast 2023-2028 ($ million)
• Data Table on Europe - Market size and forecast 2023-2028 ($ million)
• Chart on Europe - Year-over-year growth 2023-2028 (%)
• Data Table on Europe - Year-over-year growth 2023-2028 (%)
• Chart on North America - Market size and forecast 2023-2028 ($ million)
• Data Table on North America - Market size and forecast 2023-2028 ($ million)
• Chart on North America - Year-over-year growth 2023-2028 (%)
• Data Table on North America - Year-over-year growth 2023-2028 (%)
• Chart on APAC - Market size and forecast 2023-2028 ($ million)
• Data Table on APAC - Market size and forecast 2023-2028 ($ million)
• Chart on APAC - Year-over-year growth 2023-2028 (%)
• Data Table on APAC - Year-over-year growth 2023-2028 (%)
• Chart on South America - Market size and forecast 2023-2028 ($ million)
• Data Table on South America - Market size and forecast 2023-2028 ($ million)
• Chart on South America - Year-over-year growth 2023-2028 (%)
• Data Table on South America - Year-over-year growth 2023-2028 (%)
• Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
• Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
• Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
• Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
• Chart on US - Market size and forecast 2023-2028 ($ million)
• Data Table on US - Market size and forecast 2023-2028 ($ million)
• Chart on US - Year-over-year growth 2023-2028 (%)
• Data Table on US - Year-over-year growth 2023-2028 (%)
• Chart on UK - Market size and forecast 2023-2028 ($ million)
• Data Table on UK - Market size and forecast 2023-2028 ($ million)
• Chart on UK - Year-over-year growth 2023-2028 (%)
• Data Table on UK - Year-over-year growth 2023-2028 (%)
• Chart on Germany - Market size and forecast 2023-2028 ($ million)
• Data Table on Germany - Market size and forecast 2023-2028 ($ million)
• Chart on Germany - Year-over-year growth 2023-2028 (%)
• Data Table on Germany - Year-over-year growth 2023-2028 (%)
• Chart on China - Market size and forecast 2023-2028 ($ million)
• Data Table on China - Market size and forecast 2023-2028 ($ million)
• Chart on China - Year-over-year growth 2023-2028 (%)
• Data Table on China - Year-over-year growth 2023-2028 (%)
• Chart on Japan - Market size and forecast 2023-2028 ($ million)
• Data Table on Japan - Market size and forecast 2023-2028 ($ million)
• Chart on Japan - Year-over-year growth 2023-2028 (%)
• Data Table on Japan - Year-over-year growth 2023-2028 (%)
• Market opportunity by geography ($ million)
• Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Opportunity/Restraints

• 10.1 Market drivers
• 10.2 Market challenges
• Impact of drivers and challenges in 2023 and 2028
• 10.4 Market opportunities/restraints

11 Competitive Landscape

• 11.1 Overview
• Overview on criticality of inputs and factors of differentiation
• Overview on factors of disruption
• Impact of key risks on business

12 Competitive Analysis

• Companies covered
• Matrix on companies position and classification
• Alexander Marine International Co Ltd. - Overview
• Alexander Marine International Co Ltd. - Product / Service
• Alexander Marine International Co Ltd. - Key offerings
• Azimut Benetti SpA - Overview
• Azimut Benetti SpA - Product / Service
• Azimut Benetti SpA - Key offerings
• Damen Shipyards Group - Overview
• Damen Shipyards Group - Product / Service
• Damen Shipyards Group - Key offerings
• Feadship Holland BV - Overview
• Feadship Holland BV - Product / Service
• Feadship Holland BV - Key offerings
• Fincantieri Spa - Overview
• Fincantieri Spa - Business segments
• Fincantieri Spa - Key offerings
• Fincantieri Spa - Segment focus
• Flensburger Schiffbau Gesellschaft mbH - Overview
• Flensburger Schiffbau Gesellschaft mbH - Product / Service
• Flensburger Schiffbau Gesellschaft mbH - Key offerings
• Fr. Lurssen Werft GmbH - Overview
• Fr. Lurssen Werft GmbH - Product / Service
• Fr. Lurssen Werft GmbH - Key offerings
• Heesen Yachts Sales BV - Overview
• Heesen Yachts Sales BV - Product / Service
• Heesen Yachts Sales BV - Key offerings
• Horizon Yacht USA - Overview
• Horizon Yacht USA - Product / Service
• Horizon Yacht USA - Key offerings
• KPS Capital Partners LP - Overview
• KPS Capital Partners LP - Product / Service
• KPS Capital Partners LP - Key offerings
• Oceanco SAM - Overview
• Oceanco SAM - Product / Service
• Oceanco SAM - Key offerings
• Overmarine Group Spa - Overview
• Overmarine Group Spa - Product / Service
• Overmarine Group Spa - Key offerings
• Palmer Johnson - Overview
• Palmer Johnson - Product / Service
• Palmer Johnson - Key offerings
• Palumbo Group Spa - Overview
• Palumbo Group Spa - Product / Service
• Palumbo Group Spa - Key offerings
• THE ITALIAN SEA GROUP SpA - Overview
• THE ITALIAN SEA GROUP SpA - Business segments
• THE ITALIAN SEA GROUP SpA - Key offerings
• THE ITALIAN SEA GROUP SpA - Segment focus

13 Appendix

• 13.1 Scope of the report
• Inclusions checklist
• Exclusions checklist
• Currency conversion rates for US$
• Research methodology
• Information sources
• Data validation
• Validation techniques employed for market sizing
• Data synthesis
• 360 degree market analysis
• List of abbreviations

Frequently Asked Questions?

How big is the yacht market market , what is the yacht market market growth, which segment accounted for the largest yacht market market share , who are the key players in the yacht market market , what are the factors driving the yacht market market .

• Growing popularity of recreational tourism
• Increased demand for superyachts

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How billionaire’s superyacht trip to celebrate end of 13 year legal battle ended in tragedy

It was supposed to be a summer celebration.

British tech tycoon Mike Lynch had gathered his tried and trusted lawyers who had been with him every step of the way helping him emerge unscathed from a gruelling 13-year legal battle. Twelve guests had flown into the picturesque Italian port of Porticello, near Palermo from the UK, the US,  Canada , New Zealand and Ireland, to mark the end of the fraud trial that had consumed much of their lives.

But now a manslaughter investigation  has been launched as Mr Lynch and his 18-year-old daughter Hannah were among the seven people who died after the vessel capsized during bad weather in the early hours of Monday morning.

Morgan Stanley chairman Jonathan Bloomer, his wife Judith Bloomer, Clifford Chance lawyer Christopher Morvillo and his wife Neda Morvillo also died.

Italian public prosecutor Ambrogio Cartosio, from nearby town Termini Imerese said his office has opened an initial investigation into manslaughter and negligent  shipwreck .

The group had been welcomed on board the six luxurious suites of Bayesian, a 56-metre-long £30 million superyacht , by the ten crew. Boasting the tallest aluminium mast in the world - higher than Nelson’s Column - experts now speculate it may have caused her to topple and become pinned underwater in an unpredictable, ferocious storm.

The ship was named after the statistical method, the Bayesian inference, an 18th-century theory that helps forecasters predict outcomes more reliably. Mr Lynch based his entire PHD thesis around it, later amassing his huge fortune after selling his company Autonomy to Hewlett-Packard for $11 billion in 2011.

He had improbably beaten the odds in a bitter US legal dispute with the technology giant, convincing a jury that he was not guilty of claims of massive fraud after a long legal fight that finally came to an end in June. Two months ago he emerged from court with tears in his eyes a free man he pledged to restructure extradition laws that brought him to the US in cuffs.

Disaster struck at around 5am when a freak tornado over the sea known as a waterspout rocked the superyacht, according to Sicily ’s civil protection agency. The crew fired off disaster flares causing local fishermen and others to navigate the storm to come to the aid of survivors.

The captain of a nearby boat said that when the winds surged, he had turned on the engine to keep control of his vessel and avoid a collision with the Bayesian, which had been anchored alongside him.

“We managed to keep the ship in position and after the storm was over, we noticed that the ship behind us was gone,” Karsten Borner said.

The other boat “went flat on the water, and then down,” he added. He said his crew then found some of the survivors on a life raft and took them on board before the coast guard picked them up.

This included a one-year-old girl named Sophie one of the 16 survivors, so far.

Her mother, Charlotte Golunski, 36, told how she battled to keep her child above the dark and raging Mediterranean while calling for help amid the awful piercing screams of other struggling guests and crew.

“For two seconds I lost the baby in the sea, then I immediately held her again in the fury of the waves,” she told Giornale di Sicilia. “I held her tightly, tightly to me, while the sea was raging. So many were screaming. Fortunately, the lifeboat inflated and 11 of us managed to get on it.”

This left six passengers unaccounted for - Lynch and his 18-year-old daughter, Morgan Stanley International non-executive chairman Jonathan Bloomer, Clifford Chance lawyer Chris Morvillo, and their wives Judy and Neda.

The worn-out Captain of the yacht , James Catfield said simply: “We didn’t see it coming.”

“The wind was very strong. Bad weather was expected, but not of this magnitude,” a coast guard official in the Sicilian capital Palermo said the next day.

Local fisherman Giuseppe Cefalu told how he saw a “tornado” close to the port on Monday morning. Mr Cefalu said he and his brother Fabio saw a flare in the sky at around 5am.

The pair aided efforts to locate people in the water after the yacht vanished beneath the waves, but Mr Cefalu said he only saw cushions and a buoy.

He said weather conditions on the morning of the sinking were “fierce”, with “very strong” wind and rain.

The luxury superyacht is “practically intact” on the seabed despite sinking, Marco Tilotta, a firefighter diver from Palermo, has told Italian newspaper Il Messaggero.

He said in an interview that the multi-million yacht was lying on its side at a depth of 48 metres, but that divers were unable to gain access because of floating furnishings and other debris inside the yacht.

“The fear is that the bodies got trapped inside the vessel,” which was lying 49 metres deep, Salvatore Cocina, head of civil protection in Sicily , added.

“The biggest difficulty we have is due to the depth, which does not allow long times of intervention,” fire department diver Marco Tilotta told reporters. “We plan ... to search centimetre by centimetre.”

Now they enter a critical 24 hours according to Nick Sloane, a lead diver in the Costa Concordia wreck. He told Sky News that survivors might be trapped in air pockets inside the ship, but that time is running out fast to rescue them.

“They’ve got a very small window of time to try to find people stuck inside with hopefully an air pocket, and they could be rescued.

“If the yacht is on its side, it might have more air pockets than if it’s upright. She’s got quite a large keel, and that will deflect and put her on her side, I’m sure.”

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This superyacht hot spot for the uber-wealthy is heating up — and becoming more dangerous

The storm that sank the “Bayesian,” a luxury yacht anchored off the Sicily coast, was sudden, violent and deadly — and scientists say it may be a warning of what’s to come as global warming fuels more extreme weather in the Mediterranean.

The superyacht, which was carrying 22 people, sank in the early hours of Monday morning, near the port of Porticello, claiming at least five lives . Rescue operations are still ongoing, hampered by the difficulties of reaching the vessel, which is resting on the sea floor approximately 165 feet deep.

The incident has shocked many. The Mediterranean, prized for its crystal clear, tranquil waters, is a prime summer destination for the very wealthy and their superyachts.

But these waters can still be dangerous — one of the reasons thousands of people die every year trying to migrate across it — and experts say it’s only becoming more so as human-caused climate change warms the sea, whipping up stronger and more intense storms.

The reasons for the sinking of the Bayesian are still being investigated. “It was dark and no images are available,” said Luca Mercalli, president of the Italian Meteorological Society.

But many believe the yacht was struck by a waterspout — one of several types of tornadoes. The coast guard reported the yacht was struck by a tornado, and a waterspout was reported to the European Severe Weather Database around the same time. Storms that day resulted in at least two dozen waterspout reports across Italy.

Waterspouts are narrow spinning columns of air below a thunderstorm which happen over water, and thrive on heat and humidity.

Most waterspouts are fairly weak “with a few seconds of strong, gusty winds before they move on or dissipate,” said Peter Inness, a meteorologist at the University of Reading. “But some can be much stronger.”

There aren’t huge amounts of data about waterspouts as they often happen unobserved out at sea, but there is evidence ocean temperatures can affect them. A study by University of Barcelona scientists, which was focused on Spain’s Balearic Islands, found waterspouts are more likely when the ocean is very warm.

However, drawing a link between climate change and more frequent or more intense waterspouts “is a step too far at the moment,” Inness said. They require several different conditions to form in addition to heat, including winds and temperature differences between the air and sea.

What is clear however, is that climate change is leading to more intense storms, some of which are fueled by warm ocean water.

And the Mediterranean is currently very, very hot.

Water temperatures around Sicily are approximately 30 degrees, Mercalli said. That’s 3 degrees Celsius (5.4 Fahrenheit) warmer than average for this time of year — an “extreme” anomaly, he told CNN.

While ocean heat is affected by natural climate fluctuations, such as El Niño, scientists are clear that it is being supercharged by human-caused global warming driven by burning fossil fuels.

When oceans are hot, they are able to inject more energy into the atmosphere. This can be converted into strong winds or rapid updrafts of air in thunderstorms, Inness said. Warm air is also able to hold more moisture, so when storms produce rain, it can be heavier and more intense.

There has been an increase in heavy thunderstorms dumping large amounts of rain, as well as downbursts — strong winds that descend from thunderstorms — in Italy and worldwide over the past few decades, Mercalli said.

The storm that hit Sicily reached the Mediterranean from the west, where it gained energy from high ocean temperatures, said Justino Martínez, a researcher at the Institute of Marine Scientists in Spain.

Spain’s Balearic Islands were particularly affected. Torrential rain last week flooded roads, forced evacuations and flight cancellations and overturned yachts moored on the popular island of Formentera.

The storm then gained more energy before reaching Italy, Martínez told CNN. In addition to the waterspout, other strong storms across Sicily brought torrential rainfall late Sunday, dumping more than 100 mm of rainfall, or 4 inches, in Brolo in less than four hours.

The Mediterranean region is on the frontlines of the climate crisis. Dubbed a climate change hot spot , it’s warming around 20% faster than the global average. And the toll is clear in the extreme weather the region is experiencing, from brutal rolling heat waves to ferocious storms bringing catastrophic flooding .

“Global warming — and specifically warming of the Mediterranean Sea — is quite likely to lead to an intensification of a number of potentially dangerous weather systems in that region,” Inness said.

Italy, surrounded by the fast-warming waters of the Mediterranean, is particularly affected. Last year, a downburst hit a ship on Lake Maggiore in northern Italy, killing four people.

The country also grappled with “ once in a century” deadly floods that killed at least 14 people in May last year, while Sicily hit 48.8 degrees Celsius (119.8 Fahrenheit) last August, breaking Europe’s temperature record.

Outside Italy, last year’s Storm Daniel, fueled by unusually warm ocean waters , claimed lives in Greece, Turkey and Bulgaria. But by far the most devastation from the storm happened in Libya.

Flash flooding killed thousands of people following a so-called medicane — a rare, hurricane-like cyclone in the Mediterranean that gains energy from warm water.

“Global warming is intensifying all extreme weather events,” Mercalli said, “with huge costs for people and society.”

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Original article source: Yacht expert breaks down luxury superyacht tragedy after boat capsizes in freak storm: 'Always limits'