The Asia Pacific luxury yacht market size reached US$ 1,652.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 3,458.7 Million by 2032, exhibiting a growth rate (CAGR) of 8.3% during 2024-2032.
Report Attribute
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Key Statistics
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 1,652.9 Million |
Market Forecast in 2032
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US$ 3,458.7 Million |
Market Growth Rate (2024-2032) | 8.3% |
A luxury yacht is a crewed sailing vehicle used for recreational activities and sports. It is made with a wide range of materials, including steel, aluminum, fiberglass, wood treated with epoxy resin and carbon fiber. It is generally chartered or rented by private entities seeking luxury, comfort and sophistication. A luxury yacht is operated through wind sailing or by propulsion systems like internal combustion engines (ICE) and gas turbines. In the Asia Pacific region, the demand for luxury yachts has escalated over the years. These state-of-the-art yachts meet specific criteria and offer spacious cabins, well-equipped galleys, dining rooms and staterooms, which are usually equipped with sound and media systems.
The Asia Pacific luxury yacht market is primarily driven by the rising disposable incomes and improving living standards of individuals. The growing demand for marine recreational activities in various countries like Singapore, Thailand, China, and Australia, is creating a significant impact on the market. Moreover, the availability of improved maritime security systems, connectivity, and tracking and rising internet penetration is further escalating the demand for luxury yachts.
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific luxury yacht market report, along with forecasts at the regional and country levels from 2024-2032. Our report has categorized the market based on type, size, material, and application.
Breakup by Type:
Breakup by Size:
Breakup by Material:
Breakup by Application:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Report Features | Details |
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Base Year of the Analysis | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Units | US$ Million |
Segment Coverage | Type, Size, Material, Application, Country |
Countries Covered | China, Japan, India, South Korea, Australia, Indonesia, Others |
Customization Scope | 10% Free Customization |
Report Price and Purchase Option | Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699 |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The Asia Pacific luxury yacht market was valued at US$ 1,652.9 Million in 2023.
We expect the Asia Pacific luxury yacht market to exhibit a CAGR of 8.3% during 2024-2032.
The expanding travel and tourism sector, along with the escalating demand for luxury yachts that are widely available on lease by fleet operators to organize business meetings and events, is primarily driving the global luxury yacht market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several Asia Pacific nations, resulting in the temporary halt in numerous recreational activities, thereby negatively impacting the Asia Pacific market for luxury yacht.
Based on the type, the Asia Pacific luxury yacht market has been divided into sailing luxury yacht, motorized luxury yacht, and others. Among these, motorized luxury yacht currently exhibits a clear dominance in the market.
Based on the size, the Asia Pacific luxury yacht market can be categorized into 75-120 feet, 121-250 feet, and above 250 feet. Currently, 75-120 feet accounts for the majority of the total market share.
Based on the material, the Asia Pacific luxury yacht market has been segregated into FRP/composites, metal/alloys, and others. Among these, FRP/composites currently exhibit a clear dominance in the market.
Based on the application, the Asia Pacific luxury yacht market can be bifurcated into commercial and private. Currently, commercial holds the largest market share.
On a regional level, the market has been classified into China, Japan, India, South Korea, Australia, Indonesia, and others, where China currently dominates the Asia Pacific luxury yacht market.