Report : Europe Luxury Yacht Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Sailing luxury Yacht, Motorized Luxury Yacht, and Others), Material  (FRP/Composites, Metal/Alloys, and Others), and Size (75-120 feet, 121-250 feet, and Above 250 feet)

At 8.8% CAGR, the Europe Luxury Yacht Market is speculated to be worth US$ 4,348.77 million by 2028, says Business Market Insights

According to Business Market Insights research, the Europe luxury yacht market was valued at US$ 2,619.94 million in 2022 and is expected to reach US$ 4,348.77 million by 2028, registering a CAGR of 8.8% from 2022 to 2028. Growing yacht tourism and increasing superyacht demand are the critical factors attributed to the Europe luxury yacht market expansion.       

The popularity of yacht tourism is increasing with a rise in the number of high-net-worth individuals. People from this category prefer spending their free time on luxury yachts to release the stress of everyday life. Alongside spending a relaxing time on the oceans, they can moor their yachts and visit historical places and scenic natural destinations. Due to the rising demand, yacht tourism has become an essential asset for development in various countries. The yacht tourism industry brings national and international investments, employment opportunities, foreign exchange income, business volumes, and socioeconomic and sociocultural benefits to national economies. Governments of different countries are investing significant resources in the growth of yacht tourism. European Commission has published the Guide on EU funding for the tourism sector, which particularly focuses on the projects regarding coastal and maritime tourism. Also, under this guide, the European Commission will fund the development of cruising and yachting facilities. Further, the natural landscape of various popular European countries, such as the Netherlands, the UK, and Italy, have maritime border, which significantly attracts a large number of international tourists, especially from the affluent segment of the population, every year. In addition, in these countries, luxury yachts are leased for various promotional events, celebratory functions, and meetings, which is increasing the demand for luxury yachts in recreational tourism. Thus, the growing yacht tourism contributes to the proliferation of the Europe luxury yacht market.

On the contrary, high initial cost and carbon footprint hampers the Europe luxury yacht market.  

Based on type, the Europe luxury yacht market is segmented into sailing luxury yacht, motorized luxury yacht, and others. The motorized luxury yacht segment held 72.5% share of Europe luxury yacht market in 2022, amassing US$ 1,900.22 million. It is projected to garner US$ 3,135.67 million by 2028 to expand at 8.7% CAGR during 2022–2028. 

Based on material, the Europe luxury yacht market is segmented into FRP/composites, metal/alloys, and others. The metal/alloys segment held 53.0% share of Europe luxury yacht market in 2022, amassing US$  1,387.35 million. It is projected to garner US$  2,262.04 million by 2028 to expand at 8.5% CAGR during 2022–2028.

Based on size, the Europe luxury yacht market is segmented into 75-120 feet, 121-250 feet, and Above 250 feet. The 121-250 feet segment held 53.1% share of Europe luxury yacht market in 2022, amassing US$ 1,391.17 million. It is projected to garner US$  2,109.07 million by 2028 to expand at 7.2% CAGR during 2022–2028.

Based on country, the Europe luxury yacht market has been categorized into France, Germany, the UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 80.7% share of Europe luxury yacht market in 2022. It was assessed at US$ 673.77 million in 2022 and is likely to hit US$ 1,125.10 million by 2028, exhibiting a CAGR of 8.9% during the forecast period.      

Key players dominating the Europe luxury yacht market are Alblasserdam Yachtbuilding BV; Azimut Benetti SpA; Bavaria Yachtbau GmbH; Damen Shipyards Group NV; Delta Marine Industries Inc; Fincantieri SpA; Fr. Lurssen Werft GmbH & Co KG; Heesen Yachts Sales BV; and Palumbo Superyachts Ancona SRL, among others.

  • January 2023, Azimut|Benetti Group introduced the S7 at Boot Dusseldorf 2023 for its world premiere, revealing the sporty soul and high-tech heart equipped with environmental technology. This new model comes with a refined design and advanced solutions that distinguish the Azimut|Benetti Group, which offers low-emission yachts.

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