The increasing wealth of ultra-high-net-worth
individuals and growing tourist attractions and luxurious
hotels are driving the growth of the global superyacht
market.
WILMINGTON, Del., Dec. 14, 2023 /PRNewswire/ -- Allied Market
Research published a report, titled, "Superyacht Market
by Size (30-80 Meters and Above 80
Meters), Application, (Charter and Private), and
Propulsion (Motor, Sailing, and Others): Global
Opportunity Analysis and Industry Forecast,
2023-2032". According to the report, the global superyacht
industry size generated $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.
(We are providing superyacht industry report as per
your research requirement, including the Latest Industry Insight's
Evolution, Potential and Russia-Ukraine War Impact Analysis)
- 120 - Tables
- 47 - Charts
- 280 - Pages
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Prime determinants of growth
A Superyacht is the name given to a privately owned sailing or
powered yacht that is over 30m in
length. Such superyachts belong to those rich people who want only
the best and have money for that as well. Luxury superyachts are
designed with a bigger space than what is common in average yachts.
Facilities like more decks, spacious cabins, and high-class
technology are often found in these vessels. In addition, most of
them also come with personal swimming pools, helicopter pads, and
even small submarines themselves. As such, superyachts are normally
designed for long trips and are fitted with up-to-date navigational
apparatus as well as security gear. One reason for this growth is
rising wealth worldwide, the increase in high net-worth tourists,
and demand for tailor-made travel experiences. The trend where
emerging markets create new billionaires and push the desire for a
luxurious lifestyle into the sea where there is a need for big,
better armed and luxuriously furnished superyachts.
Report Coverage and Details:
Report
Coverage
|
Details
|
Forecast
Period
|
2023–2032
|
Base Year
|
2022
|
Market Size in
2022
|
$10,293.3
million
|
Market Size in
2032
|
$25,677.2
million
|
CAGR
|
9.8 %
|
No. of Pages in
Report
|
280
|
Segments
Covered
|
Size, Application,
Propulsion and Region
|
Drivers
|
Growth in the Nautical
Tourism Industry
Rising Global
Wealth
Rising demand for
sailing activities
|
Opportunities
|
Increase in
technological advancements and design
Increasing emphasis on
sustainable and eco-friendly practices
|
Restraints
|
High price and
maintenance cost
Rise in number of
accidents on superyachts
|
Russia-Ukraine War Impact Analysis
- War has introduced logistical challenges related to maritime
routes and destination choices, influencing yacht travel patterns
and potentially diverting vessels away from certain regions.
- The conflict has the potential to influence sea travel routes
and maritime security. Increased geopolitical tensions may lead to
changes in naval patrols and security measures in certain waters,
impacting the freedom of navigation and potentially influencing
yacht itineraries.
The 30-80 meter segment to maintain its leadership status
throughout the forecast period
By size, the 30-80 meter segment held the highest market share
in 2022 and is estimated to maintain its leadership status
throughout the forecast period 2023 to 2032, as it gives the
advantage of a considerable variation in layout and features,
accommodating different preferences and requirements of yacht
owners. However, the above 80 meters segment is projected
to highest CAGR of 11.1% from 2023 to 2032, rising projects in the
development of superyachts above 80 meters have seen a commitment
to eco-friendly practices, such as the use of lightweight
materials, energy-efficient propulsion systems, and advanced waste
management solutions thus, it propels the segment growth.
Key Developments in the Superyacht Industry:
- Leading companies are employing diverse strategies such as
acquisition, agreement, expansion, partnership, contracts, product
launches, and more to fortify their market position.
- In July 2023, Damen
Yachting unveiled its fourth Amels 60 superyacht, a 60m, 830 GT vessel featuring an exterior design
by Espen Oino, naval architecture by
Damen Yachting, and a custom interior by collaborative studios,
Studio Indigo and Pure Living. The yacht offers six staterooms for
up to 12 guests.
- In November 2022, Damen
Yachting expanded its services in the Gorinchem yard, incorporating
additional repair facilities and a 150-tonne ship lift, optimizing
the location for design, maintenance, repair, conversion, and new
ship construction of up to 90 meters.
- In June 2021, SANLORENZO
introduced the 44-meter superyacht model, the X-Space, featuring a
495GT interior designed for privacy. The upper deck is dedicated to
the owner, including a private apartment, study, living room, and a
spacious master cabin.
- In March 2020, Ferretti
SpA launched the Ferretti 1000 yacht, marking a significant
addition from Ferretti Yachts' Cattolica-based facility in
Italy.
- In March 2020, SANLORENZO
launched the SX112 crossover yacht, along with the 44Alloy and
62Steel superyachts. The SX112 redefines the onboard experience by
eliminating barriers, allowing the boat to seamlessly connect with
the marine environment.
Key Highlights of the Report:
- The superyacht market study spans across 14 countries,
providing a comprehensive regional and segment analysis for each
country in terms of value ($million) for the projected period
2023-2032.
- The study seamlessly integrates high-quality data, professional
opinions, and analysis, along with critical independent
perspectives. The research approach is strategically designed to
offer a balanced view of global markets, aiding stakeholders in
making informed decisions to achieve their ambitious growth
objectives.
- A meticulous review of over 3,700 product literatures, annual
reports, industry statements, and other comparable materials from
major industry participants was conducted, enhancing the
understanding of the market dynamics.
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of Form
The private segment to maintain its leadership status
throughout the forecast period
By application, the private segment held the highest market
share in 2022 and is estimated to maintain its leadership status
throughout the forecast period 2023 to 2032, due to increase in
demand for yachts equipped with advanced green technologies,
from hybrid propulsion systems to energy-efficient designs. Yacht
manufacturers are seizing this opportunity by incorporating
eco-friendly elements into their vessels, not only meeting
regulatory requirements but also appealing to a growing segment of
environmentally aware clientele. However,
the charter segment is projected to highest CAGR of 10.3%
from 2023 to 2032, due to increasingly valuing unique itineraries,
personalized services, and exclusive amenities, emphasizing a shift
from traditional vacationing to curated, luxurious adventures on
the seas.
The motor segment to maintain its lead position during the
forecast period
By propulsion, the motor segment accounted for the largest
share in 2022 and is estimated to maintain its leadership status
throughout the forecast period, owing to the soaring popularity of
motor yachts that has resulted in greater technological
advancements. In addition, due to a surge in demand for
expedition-style superyachts equipped for long-range cruising,
reflecting a growing interest in remote and exotic destinations.
However, the other segment is projected to have the
highest CAGR of 10.7% from 2023 to 2032, the other segments include
electric superyachts, hybrid superyachts, solar-powered superyachts
among others. Due to an increasing global emphasis on environmental
responsibility, electric superyachts have gained traction as a
cleaner and quieter alternative to traditional propulsion systems
which propel segment growth.
Europe to maintain its
dominance by 2032
By region, Europe held the
highest market share in terms of revenue in 2022 and is estimated
to maintain its leadership status throughout the forecast period,
as the manufacturers in the European region are now venturing into
sustainable development and increasing 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. However, the LAMEA region is expected to witness the
fastest CAGR of 11.9% from 2023 to 2032, due to the region's
strategic location, featuring picturesque coastlines and vibrant
cultural destinations, positions it as an attractive playground for
superyacht activities. Additionally, the Middle East's commitment to hosting
world-class events which plays a pivotal role in the growth of the
superyacht industry in the region.
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Leading Market Players: -
- Damen Yachting BV
- Azimut Benetti Group S.p.A.
- Burgess
- Ferretti SpA
- Horizon Yacht USA
- Ocean Alexander Yachts, Inc.
- Overmarine
- San Lorenzo
- Sunseeker
- The Italian Sea Group S.p.A.
The report provides a detailed analysis of these key players in
the global superyacht market. These players have adopted different
strategies such as new product launches, collaborations, expansion,
joint ventures, agreements, and others to increase their market
share and maintain dominant shares in different regions. The report
is valuable in highlighting business performance, operating
segments, product portfolio, and strategic moves of market players
to showcase the competitive scenario.
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Yacht Charter Market Research Report 2023-2032
Hydrogen-Powered Yacht Market Research Report 2023-2032
Cruise Ship Market Research Report 2023-2032
Recreational Boating Market Research Report 2023-2032
Sailboat Market Research Report 2023-2032
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