Luxury Yacht Market Summary
As per Market Research Future Analysis, the Luxury Yacht Market is projected to grow significantly, with an estimated market size of 7,959.88 USD Million in 2024, increasing to 16,408.65 USD Million by 2034, at a CAGR of approximately 7.50% from 2025 to 2034. The market is driven by rising consumer wealth, urbanization, and a booming tourism sector, leading to increased demand for high-end yachts. The luxury yacht segment includes various sizes, with the 121-250 feet category holding a 47.8% market share in 2022. Motorized yachts dominate the market due to their speed and convenience, while Fiber-Reinforced Plastics (FRP) and composites are the preferred materials for yacht construction, offering durability and design flexibility.
Key Market Trends & Highlights
Key trends driving the luxury yacht market include rising consumer expenditure and technological advancements.
- Luxury Yacht Market Size in 2024: USD 7,959.88 Million
- Projected Market Size by 2034: USD 16,408.65 Million
- CAGR from 2025 to 2034: 7.50%
- 121-250 feet yachts contributed 47.8% to market revenue in 2022
Market Size & Forecast
2024 Market Size | USD 7,959.88 Million |
2025 Market Size | USD 8,557.03 Million |
2034 Market Size | USD 16,408.65 Million |
Major Players
Alexander Marine Co Ltd, Damen Shipyards Group, Azimut-Benetti S.p.A, Feadship, FERRETTI S.P.A., Horizon Yacht USA, Princess Yachts International plc, Sanlorenzo Spa, Sunseeker International Limited, Viking Yacht Company