Yacht Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2025-2034)

The global yacht market size reached around USD 56.11 Billion in 2024. The market is projected to grow at a CAGR of 4.30% between 2025 and 2034 to reach nearly USD 85.48 Billion by 2034.

Global Yacht Market Growth

The financial wealth of high-net-worth individuals (HNWIs) increased from USD 82.91 trillion in 2022 to USD 86.79 trillion in 2023, boosting the luxury yacht market revenue. As wealth accumulates among individuals, their inclination towards acquiring luxury assets, including yachts, intensifies, thereby elevating the demand for custom vessels and premium services. The growing interest in yachts among high-net-worth individuals is fuelled by their pursuit of luxury, privacy, and exclusivity. Yachts provide tailored experiences, access to secluded locations, and elevated recreational opportunities, which resonate with the lavish lifestyle of affluent consumers in search of opulence.

At the beginning of 2021, the global fleet of superyachts measuring over 30 metres comprised 5,245 vessels. Notably, 84% of this fleet consists of motor yachts. The rising appeal of luxury tourism and tailored travel experiences is driving the demand for yachts, as more consumers pursue high-end leisure options. Additionally, advancements in yacht manufacturing technology, including hybrid propulsion systems, smart technologies, and sustainable materials, are attracting environmentally conscious buyers.

The trend of customisation in yachts is on the rise, as customers increasingly desire distinctive and personalised experiences. Yacht owners are now requesting bespoke interiors, creative layouts, and cutting-edge technologies that align with their lifestyles and preferences. The use of sustainable materials, hybrid propulsion systems, and one-of-a-kind designs is becoming more prevalent. This movement enables yacht manufacturers to address specific tastes, thereby enhancing exclusivity and fostering innovation within the luxury yacht market.

Key Trends and Developments

The yacht market growth can be attributed to the rising number of high-net-worth individuals, escalating interest in luxury travel and sailing experiences, innovations in yacht production technology, and the growth of marine tourism in emerging regions

October 2024

Royal Huisman, a Dutch shipbuilding firm renowned for its expertise in new construction, refitting, rebuilding, and renewing both sailing and motor yachts, unveiled Aquarius II, a 213-foot sailing yacht. This vessel was commissioned by the same owners who previously ordered the original Aquarius in 2018.

June 2024

Mangusta Yachts, one of the few remaining family-owned and family-operated brands in the yachting sector, unveiled the seventh unit of its 104REV series, a 104-foot yacht that seamlessly blends performance with luxury.

June 2024

Overmarine Group, an Italian yacht supplier, introduced the fourth unit of the Mangusta Oceano 50, a 50-meter vessel specifically crafted for extended-range cruising.

February 2024

Lürssen, recognised globally for its exceptional quality and cutting-edge technologies in shipbuilding, unveiled the 142-meter Project Alibaba, marking it as one of the largest yachts ever constructed by the shipyard.

The Rising Number of High-Net-Worth Individuals

The worldwide rise in affluent individuals has led to an increased demand for luxury yachts, as they seek distinctive and exclusive recreational experiences.

Escalating Interest in Luxury Travel and Sailing Experiences

There is a significant surge in luxury tourism, with an increasing number of individuals choosing tailored and premium travel options, thereby enhancing the market for yacht charters and ownership.

Innovations in Yacht Production Technology

Developments such as hybrid propulsion systems, sophisticated navigation tools, and sustainable materials are rendering yachts more attractive to environmentally aware consumers.

Growth of Marine Tourism in Emerging Regions

Regions such as the Middle East and the Asia Pacific are enhancing their marine infrastructure, drawing in tourists and investors, which, in turn, fosters the yacht market expansion.

Global Yacht Market Trends

The market is propelled by the growth of luxury tourism, a rising number of high-net-worth individuals, and an increasing demand for tailored travel experiences. Innovations in technology, such as hybrid propulsion systems and environmentally friendly designs, attract buyers who prioritise sustainability. The expansion of marine tourism in emerging markets within the Asia Pacific and Middle East is also leading to the market expansion. This expansion is further bolstered by advancements in yacht manufacturing that emphasise sustainability and state-of-the-art luxury attributes.

Global Yacht Industry Segmentation

The report titled “Global Yacht Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Breakup by Type

• Super Yacht
• Sport Yacht
• Flybridge Yacht
• Long Range Yacht
• Others

Breakup by Length

• Up to 20 m
• 20 m to 50 m
• Above 50 m

Breakup by Propulsion

• Motor Yacht
• Sailing Yacht

Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Global Yacht Market Share

Based on propulsion, the market is segmented into motor yacht and sailing yacht. The motor yacht segment is projected to grow at a CAGR of 5.6% during the forecast period of 2025-2034. A motor yacht is a high-end vessel driven by engines, intended for leisurely cruising. It provides comfort and speed, along with features such as ample cabins, entertainment zones, and outdoor areas for recreational pursuits.

Leading Companies in the Global Yacht Market

Major players in the yacht market are focusing on the adoption of advanced technologies to gain a competitive edge in the market.

Damen Shipyards Group

Founded in 1927 and based in Gorinchem, the Netherlands, Damen Shipyards Group is dedicated to the design and construction of various types of vessels, including yachts, military ships, and workboats. The company is celebrated for its pioneering shipbuilding methods and commitment to sustainable maritime practices.

Sanlorenzo S.p.A.

Founded in 1958 and located in Ameglia, Italy, Sanlorenzo S.p.A. stands as a prominent manufacturer of luxury yachts, distinguished by its bespoke design approach. The company emphasises exceptional craftsmanship, merging traditional techniques with cutting-edge technology to produce customised yachts for a sophisticated clientele.

Viking Yacht Company

Established in 1964 and situated in New Jersey, United States, Viking Yacht Company is a family-operated enterprise that specialises in the production of sportfishing and luxury yachts. The company is acclaimed for its high-performance vessels, characterised by exceptional engineering and craftsmanship.

Feadship Holland B.V.

Founded in 1949 and headquartered in Haarlem, the Netherlands, Feadship Holland B.V. is a leading manufacturer of custom superyachts. The company is recognised for its ability to create some of the most innovative and luxurious yachts within the international maritime sector.

Other major players in the yacht market are Azimut Benetti S.p.A., Heesen Yachts Sales B.V., Sunseeker International Limited, Ferretti S.p.A., Alexander Marine USA, and Princess Yachts Limited, among others.