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
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 1,652.9 Million
Market Forecast in 2032
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.
Key Market Segmentation:
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:
Sailing Luxury Yacht
Motorized Luxury Yacht
Others
Breakup by Size:
75-120 Feet
121-250 Feet
Above 250 Feet
Breakup by Material:
FRP/ Composites
Metal/ Alloys
Others
Breakup by Application:
Commercial
Private
Breakup by Country:
China
Japan
India
South Korea
Australia
Indonesia
Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Report Coverage:
Report Features
Details
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)
Key Questions Answered in This Report
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.
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