Asia Pacific 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)
The Asia Pacific luxury yacht market is expected to grow from US$ 700.15 million in 2022 to US$ 1,249.50 million by 2028. It is estimated to grow at a CAGR of 10.1% from 2022 to 2028.
Rising Demand in Asia Pacific would create growth opportunity for Asia Pacific Luxury Yacht Market
Asia Pacific offers one of the best coastlines of 135,000 km. The region houses thousands of islands in the Pacific Ocean, where tourism is the major economy. The rise in tourism on these islands is likely to boost the demand for luxury yachts in the region. Moreover, the improving living standards and increasing income levels of the population in Asia Pacific countries are further adding to the demand for luxurious consumer goods. Particularly, in China, the demand for luxury yachts has increased to host business meetings, parties, and other business-related events in the contemporary setting. To attract more billionaires to luxury yachts, the sixth edition of the Thailand Yacht Show (TYS) was conducted in June 2022. The show attracted professionals and consumers from various industries.
Governments of various countries are taking different initiatives to boost the yacht industry. For instance, in August 2022, the Ministry of Industry and Information Technology (MIIT)—along with the National Development and Reform Commission (NDRC), the Ministry of Transport (MOT), the Ministry of Finance (MOF), the Ministry of Finance (MOF), and the Ministry of Culture and Tourism (MCT)—released the guidelines to accelerate the development of cruise and yacht industry in China. Through these guidelines, China is creating a roadmap for establishing a well-developed yacht industry by 2025.
Asia Pacific countries have huge young populations, and young sailing enthusiasts, due to the rising demand for sailing by this population, the demand for luxury yachts in this region. Furthermore, yacht tourism has gained significant popularity post-COVID-19 pandemic due to people’s inclination toward freedom and escape. Considering this, Silk Road Yachts announced that they would act as an agent for their Chinese clients to commission luxury yachts and superyachts from top European makers. Thus, the rising demand for luxury yachts in Asia Pacific would create growth opportunities for the Asia Pacific luxury yacht market in the coming years.
Asia Pacific Luxury Yacht Market Overview
Asia Pacific is segmented into China, Japan, India, South Korea, Australia, and the Rest of APAC. The region is an inclined towards adoption of improved living standards with increased disposable income. As APAC is engaged in superyacht production and yachting activities, the demand for luxury yachts is growing in the region.
The rising disposable income is propelling the Asia Pacific luxury yacht market growth. For instance, according to Trading Economics, the disposable personal income in India was US$ 2,415,846 million in 2020 and increased to US$ 2,886,265 million in 2021. It is expected to reach US$ 2,987,285 in 2023 and US$ 3,221,733 in 2025. Moreover, according to report by Superyacht Times B.V. in May 2022, there was a rise in demand for superyachts of lengths 15–45 meters in Hong Kong. Furthermore, according to Affinity Group, in July 2022, there was an increase in yacht sales in APAC as people are engaging in buying yacht and yacht chartering activities. The region has a coastline of ~135,000 kilometers and thousands of islands, which makes it ideal for maritime activities and increased tourism. China ranks second in terms of the number of billionaires after the US. Thus, increase in the number of billionaires and advantage of a wide coastline in the region are propelling the demand for recreational marine activities in the region which further contributes to the growth of the Asia Pacific luxury yacht market.
Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Luxury Yacht Market Segmentation
The Asia Pacific luxury yacht market is segmented into type, material, size, and country.
Based on type, the Asia Pacific luxury yacht market is segmented into sailing luxury yacht, motorized luxury yacht, and others. The motorized luxury yacht segment held the largest share of the Asia Pacific luxury yacht market in 2022.
Based on material, the Asia Pacific luxury yacht market is segmented into FRP/composites, metal/alloys, and others. The metal/alloys segment held the largest share of the Asia Pacific luxury yacht market in 2022.
Based on size, the Asia Pacific luxury yacht market is segmented into 75-120 feet, 121-250 feet, and Above 250 feet. The 121-250 feet segment held the largest share of the Asia Pacific luxury yacht market in 2022.
Based on country, the Asia Pacific luxury yacht market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. The Rest of Asia Pacific dominated the share of the Asia Pacific luxury yacht market in 2022.
Azimut Benetti SpA; Cheoy Lee Shipyards Ltd; Damen Shipyards Group NV; Delta Marine Industries Inc; Fincantieri SpA; Fr. Lurssen Werft GmbH & Co KG; Heesen Yachts Sales BV are the leading companies operating in the Asia Pacific luxury yacht market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Luxury Yacht Market Landscape
4.1 Market Overview
4.2 PEST Analysis APAC
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Asia Pacific Luxury Yacht Market- Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Yacht Tourism
5.1.2 Increasing Superyacht Demand
5.2 Key Market Restraints
5.2.1 High Initial Cost and Carbon Footprint
5.3 Key Market Opportunities
5.3.1 Rising Demand in Asia Pacific
5.4 Future Trends
5.4.1 Implementation of Solar Energy
5.5 Impact Analysis of Drivers and Restraints
6. Luxury Yacht Market– Asia Pacific Market Analysis
6.1 Asia Pacific Luxury Yacht Market Overview
6.2 Asia Pacific Luxury Yacht Market Forecast and Analysis
7. Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 – by Type
7.1 Overview
7.2 Asia Pacific Luxury Yacht Market, by Type (2021 & 2028)
7.3 Sailing Luxury Yacht
7.3.1 Overview
7.3.2 Sailing Luxury Yacht: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
7.4 Motorized Luxury Yacht
7.4.1 Overview
7.4.2 Motorized Luxury Yacht: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
8. Asia Pacific Luxury Yacht Market Analysis and Forecast to 2028 – by Material
8.1 Overview
8.2 Asia Pacific Luxury Yacht Market, by Material (2021 & 2028)
8.3 FRP/Composites
8.3.1 Overview
8.3.2 FRP/Composites: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
8.4 Metal/Alloys
8.4.1 Overview
8.4.2 Metal/Alloys: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
9. Asia Pacific Luxury Yacht Market Analysis and Forecast to 2028 – by Size
9.1 Overview
9.2 Asia Pacific Luxury Yacht Market, by Size (2021 & 2028)
9.3–120 Feet
9.3.1 Overview
9.3.2–120 Feet: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
9.4–250 Feet
9.4.1 Overview
9.4.2–250 Feet: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
9.5 Above 250 Feet
9.5.1 Overview
9.5.2 Above 250 Feet: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
10. Asia Pacific Luxury Yacht Market– Country Analysis
10.1 Overview
10.1.1 Asia Pacific Luxury Yacht Market, by Key Country
10.1.1.1 Australia: Asia Pacific Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 Australia: Asia Pacific Luxury Yacht Market, by Type
10.1.1.1.2 Australia: Asia Pacific Luxury Yacht Market, by Material
10.1.1.1.3 Australia: Asia Pacific Luxury Yacht Market, by Size
10.1.1.2 China: Asia Pacific Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 China: Asia Pacific Luxury Yacht Market, by Type
10.1.1.2.2 China: Asia Pacific Luxury Yacht Market, by Material
10.1.1.2.3 China: Asia Pacific Luxury Yacht Market, by Size
10.1.1.3 India: Asia Pacific Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 India: Asia Pacific Luxury Yacht Market, by Type
10.1.1.3.2 India: Asia Pacific Luxury Yacht Market, by Material
10.1.1.3.3 India: Asia Pacific Luxury Yacht Market, by Size
10.1.1.4 Japan: Asia Pacific Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Japan: Asia Pacific Luxury Yacht Market, by Type
10.1.1.4.2 Japan: Asia Pacific Luxury Yacht Market, by Material
10.1.1.4.3 Japan: Asia Pacific Luxury Yacht Market, by Size
10.1.1.5 South Korea: Asia Pacific Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
10.1.1.5.1 South Korea: Asia Pacific Luxury Yacht Market, by Type
10.1.1.5.2 South Korea: Asia Pacific Luxury Yacht Market, by Material
10.1.1.5.3 South Korea: Asia Pacific Luxury Yacht Market, by Size
10.1.1.6 Rest of APAC: Asia Pacific Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.1 Rest of APAC: Asia Pacific Luxury Yacht Market, by Type
10.1.1.6.2 Rest of APAC: Asia Pacific Luxury Yacht Market, by Material
10.1.1.6.3 Rest of APAC: Asia Pacific Luxury Yacht Market, by Size
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
12. Company Profiles
12.1 Fincantieri SpA
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Azimut Benetti SpA
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Delta Marine Industries Inc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Heesen Yachts Sales BV
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Fr. Lurssen Werft GmbH & Co KG
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Cheoy Lee Shipyards Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Damen Shipyards Group NV
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific Luxury Yacht Market, Revenue and Forecast, 2019–2028 (US$ Million)
Table 2. Asia Pacific Luxury Yacht Market, by Key Country– Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Asia Pacific Luxury Yacht Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Asia Pacific Luxury Yacht Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 5. Australia: Asia Pacific Luxury Yacht Market, by Size– Revenue and Forecast to 2028 (US$ Million)
Table 6. China: Asia Pacific Luxury Yacht Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. China: Asia Pacific Luxury Yacht Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 8. China: Asia Pacific Luxury Yacht Market, by Size– Revenue and Forecast to 2028 (US$ Million)
Table 9. India: Asia Pacific Luxury Yacht Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. India: Asia Pacific Luxury Yacht Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 11. India: Asia Pacific Luxury Yacht Market, by Size– Revenue and Forecast to 2028 (US$ Million)
Table 12. Japan: Asia Pacific Luxury Yacht Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Japan: Asia Pacific Luxury Yacht Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 14. Japan: Asia Pacific Luxury Yacht Market, by Size– Revenue and Forecast to 2028 (US$ Million)
Table 15. South Korea: Asia Pacific Luxury Yacht Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 16. South Korea: Asia Pacific Luxury Yacht Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 17. South Korea: Asia Pacific Luxury Yacht Market, by Size– Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of APAC: Asia Pacific Luxury Yacht Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of APAC: Asia Pacific Luxury Yacht Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 20. Rest of APAC: Asia Pacific Luxury Yacht Market, by Size– Revenue and Forecast to 2028 (US$ Million)
Table 21. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia Pacific Luxury Yacht Market Segmentation
Figure 2. Asia Pacific Luxury Yacht Market Segmentation – Country
Figure 3. Asia Pacific Luxury Yacht Market Overview
Figure 4. Asia Pacific Luxury Yacht Market, by Type
Figure 5. Asia Pacific Luxury Yacht Market, by Country
Figure 6. APAC: PEST Analysis
Figure 7. Asia Pacific Luxury Yacht Market Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. Asia Pacific Luxury Yacht Market: Impact Analysis of Drivers and Restraints
Figure 10. Asia Pacific Luxury Yacht Market, Forecast and Analysis (US$ Million)
Figure 11. Asia Pacific Luxury Yacht Market Revenue Share, by Type (2021 and 2028)
Figure 12. Sailing Luxury Yacht: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Motorized Luxury Yacht: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Others: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. Asia Pacific Luxury Yacht Market Revenue Share, by Material (2021 and 2028)
Figure 16. FRP/Composites: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Metal/Alloys: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Others: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Asia Pacific Luxury Yacht Market Revenue Share, by Size, (2021 AND 2028)
Figure 20. –120 Feet: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. –250 Feet: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Above 250 Feet: Asia Pacific Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Asia Pacific Luxury Yacht Market, by Key Country– Revenue (2021) (US$ Million)
Figure 24. Asia Pacific Luxury Yacht Market Revenue Share, by Key Country (2021 and 2028)
Figure 25. Australia: Asia Pacific Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
Figure 26. China: Asia Pacific Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
Figure 27. India: Asia Pacific Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
Figure 28. Japan: Asia Pacific Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
Figure 29. South Korea: Asia Pacific Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
Figure 30. Rest of APAC: Asia Pacific Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
- Azimut Benetti SpA
- Cheoy Lee Shipyards Ltd
- Damen Shipyards Group NV
- Delta Marine Industries Inc
- Fincantieri SpA
- Fr. Lurssen Werft GmbH & Co KG
- Heesen Yachts Sales BV
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific luxury yacht market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific luxury yacht market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.