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Yacht Market Trends

  • Report ID: GMI5108
  • Published Date: Jun 2024
  • Report Format: PDF

Yacht Market Trends

The yacht industry is expanding as a result of rising demand for custom boats. Manufacturers are providing consumers with a wide range of customization options so they may create vessels that exactly match their preferences. These days, customers want everything to be customizable to suit their own preference. For instance, in July 2023, Columbus Yachts launched M/Y Anjelif, a brand-new, 50-meter bespoke yacht made completely of aluminum. A vehicle brimming with innovative features, including hybrid and diesel-electric propulsion, equipped with modern styling that caters to the demands of its seasoned owner.
 

Nowadays, a wide range of customization choices are available from yacht manufacturers, enabling clients to create custom interiors, distinctive amenities, or layout arrangements for their boats. The above-mentioned trend serves a discerning audience that desires exclusivity and customization, mirroring the transition from mass-produced yachts to customized and unique vessels that satisfy owners' distinct aesthetic preferences and unique lives.
 

In addition, fuel injection systems with electronic controls are becoming increasingly popular. By allowing varying speeds, these systems increase engine flexibility and significantly reduce pollution, vibration, and noise, especially in port and coastal locations. The yacht's propulsion system operates more efficiently as a result of this technology.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of yacht reached USD 12 billion in 2023 and is set to witness 7% CAGR between 2024 and 2032, due to the increasing number of high-net-worth individuals across the globe.

The cruiser segment garnered 60% of the yacht industry share in 2023, owing to the range, comfort, and versatility offered by cruiser yachts.

North America market held 35% revenue share in 2023, driven by high disposable incomes and well-developed yachting infrastructure.

Azimut Benetti, Damen Yachting, Ferretti S.p.A., Groupe Beneteau, Hanse Group, Heesen Yachts, Lürssen Yachts, Princess Yachts, Royal Huisman Shipyard B.V., Sanlorenzo S.p.A, Sunseeker International Ltd., and Viking Yacht Company.

Yacht Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 16
  • Tables & Figures: 300
  • Countries covered: 22
  • Pages: 250
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