North America 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 North America luxury yacht market is expected to grow from US$ 2,237.83 million in 2022 to US$ 3,943.86 million by 2028. It is estimated to grow at a CAGR of 9.9% from 2022 to 2028.
Growing Yacht Tourism fuels the North America Luxury Yacht Market
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. Thus, the growing yacht tourism contributes to the proliferation of the North America luxury yacht market.
North America Luxury Yacht Market Overview
North America is segmented into the US, Canada, and Mexico. North America luxury yacht market’s growth is attributed to Americans spending more on luxury yachting and tourism. North America is also experiencing a rise in wealth and the number of millionaires, which is contributing to the yachting activities in the region.
The rising demand for superyachts is propelling the growth of the North America luxury yacht market. For instance, according to Superyacht Times B.V. news platform, in May 2020, North America was the strongest buyer of superyachts despite a decrease in their construction, where buyers in the US and Canada purchased 24% of new-build yachts over 40 meters in 2020. Moreover, North America has the best yachting destinations, such as San Juan Islands, Washington; Block Island, Rhode Island; Chicago, Illinois; and Florida Keys, which are contributing to the increased demand for yacht charters. For instance, CKIM Group, Inc., a luxury yacht charter, provides yachts for cooler areas such as Alaska, New England, the Pacific Northwest, and Canada. It also provides yachts for warmer areas such as Florida and Mexico. Furthermore, according to the data provided by Autoevolution in September 2022, Fraser—a leader in yacht chartering and management—had almost 500 trips in the first half of 2022. Camper & Nicholsons, a leader in luxury yachting activities, had a 30% increase in bookings in 2022 compared to 2021. These factors are expected to increase the demand for luxury yachts, thereby contributing to the growth of the North America luxury yacht market over the forecast period.
North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
North America Luxury Yacht Market Segmentation
The North America luxury yacht market is segmented into type, material, size, and country.
Based on type, the North America 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 North America luxury yacht market in 2022.
Based on material, the North America luxury yacht market is segmented into FRP/composites, metal/alloys, and others. The metal/alloys segment held the largest share of the North America luxury yacht market in 2022.
Based on size, the North America 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 North America luxury yacht market in 2022.
Based on country, the North America luxury yacht market is segmented into the US, Canada, and Mexico. The US dominated the share of the North America 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; and Heesen Yachts Sales BV are the leading companies operating in the North America 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. North America Luxury Yacht Market Landscape
4.1 Market Overview
4.2 PEST Analysis North America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America 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 for Sustainable Yachting Solutions:
5.4 Future Trends
5.4.1 Implementation of Solar Energy
5.5 Impact Analysis of Drivers and Restraints
6. North America Luxury Yacht Market– North America Market Analysis
6.1 North America Luxury Yacht Market Overview
6.2 North America Luxury Yacht Market Forecast and Analysis
7. North America Luxury Yacht Market Revenue and Forecast to 2028 – by Type
7.1 Overview
7.2 North America Luxury Yacht Market, by Type (2021 & 2028)
7.3 Sailing Luxury Yacht
7.3.1 Overview
7.3.2 Sailing Luxury Yacht: North America 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: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
8. North America Luxury Yacht Market Analysis and Forecast to 2028 – by Material
8.1 Overview
8.2 North America Luxury Yacht Market, by Material (2021 & 2028)
8.3 FRP/Composites
8.3.1 Overview
8.3.2 FRP/Composites: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
8.4 Metal/Alloys
8.4.1 Overview
8.4.2 Metal/Alloys: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
9. North America Luxury Yacht Market Analysis and Forecast to 2028 – by Size
9.1 Overview
9.2 North America Luxury Yacht Market, by Size (2021 & 2028)
9.3–120 Feet
9.3.1 Overview
9.3.2–120 Feet: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
9.4–250 Feet
9.4.1 Overview
9.4.2–250 Feet: North America 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: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
10. North America Luxury Yacht Market– Country Analysis
10.1 Overview
10.1.1 North America Luxury Yacht Market, by Key Country
10.1.1.1 US: North America Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 US: North America Luxury Yacht Market, by Type
10.1.1.1.2 US: North America Luxury Yacht Market, by Material
10.1.1.1.3 US: North America Luxury Yacht Market, by Size
10.1.1.2 Canada: North America Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Canada: North America Luxury Yacht Market, by Type
10.1.1.2.2 Canada: North America Luxury Yacht Market, by Material
10.1.1.2.3 Canada: North America Luxury Yacht Market, by Size
10.1.1.3 Mexico: North America Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Mexico: North America Luxury Yacht Market, by Type
10.1.1.3.2 Mexico: North America Luxury Yacht Market, by Material
10.1.1.3.3 Mexico: North America 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. North America Luxury Yacht Market, Revenue and Forecast, 2019–2028 (US$ Million)
Table 2. North America Luxury Yacht Market, by Key Country– Revenue and Forecast to 2028 (US$ Million)
Table 3. US: North America Luxury Yacht Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. US: North America Luxury Yacht Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 5. US: North America Luxury Yacht Market, by Size– Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: North America Luxury Yacht Market, by Type– Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: North America Luxury Yacht Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: North America Luxury Yacht Market, by Size– Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico: North America Luxury Yacht Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: North America Luxury Yacht Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico: North America Luxury Yacht Market, by Size– Revenue and Forecast to 2028 (US$ Million)
Table 12. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Luxury Yacht Market Segmentation
Figure 2. North America Luxury Yacht Market Segmentation – Country
Figure 3. North America Luxury Yacht Market Overview
Figure 4. North America Luxury Yacht Market, by Type
Figure 5. North America Luxury Yacht Market, by Country
Figure 6. North America: PEST Analysis
Figure 7. North America Luxury Yacht Market Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. North America Luxury Yacht Market: Impact Analysis of Drivers and Restraints
Figure 10. North America Luxury Yacht Market, Forecast and Analysis (US$ Million)
Figure 11. North America Luxury Yacht Market Revenue Share, by Type (2021 and 2028)
Figure 12. Sailing Luxury Yacht: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Motorized Luxury Yacht: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Others: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Luxury Yacht Market Revenue Share, by Material (2021 and 2028)
Figure 16. FRP/Composites: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Metal/Alloys: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Others: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Luxury Yacht Market Revenue Share, by Size, (2021 AND 2028)
Figure 20. –120 Feet: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. –250 Feet: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Above 250 Feet: North America Luxury Yacht Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. North America Luxury Yacht Market, by Key Country – Revenue (2021) (US$ Million)
Figure 24. North America Luxury Yacht Market Revenue Share, by Key Country (2021 and 2028)
Figure 25. US: North America Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
Figure 26. Canada: North America Luxury Yacht Market– Revenue and Forecast to 2028 (US$ Million)
Figure 27. Mexico: North America 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 North America 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 North America 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 North America 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.