Global Luxury Yacht Market Report

The luxury yacht market is one of the most lucrative markets in the world – especially in the travel industry. Over the last few years, it has experienced tremendous growth. They offer a level of comfort and style not found in other industry segments. The international luxury yacht industry is estimated at $9.5 billion and is expected to reach $13.5 billion by 2024.

yacht market report

Yacht Industry Statistics

The global luxury yacht market has grown substantially over the past decade, rising by an average of 22% per annum between 2014 and 2022. This rapid demand increase and rising property prices has pressured luxury yacht builders to expand capacity.

Although the global shipbuilding industry is still growing, it is expected to slow down. Nonetheless, the industry is forecasted to remain strong, despite these headwinds, as high-end yachts continue to capture a growing market share.

The boating and yacht industries are a key component of many countries’ economies. The industry generates tens of billions of dollars annually and employs tens of thousands of people.

Since 1992, Florida Yachts International has served our international and local clients through our yacht market in the USA, Europe, Latin America, and the Far East.

Yacht companies and manufacturers are some of the largest employers in the U.S. and provide hundreds of thousands of jobs globally. The industry is also a major source of revenue for government agencies and other organizations.

Trends in the Yachting Industry

Yachting has consistently risen for several years, with annual numbers growing, as seen in the yachts industry report. An increasing number of yachts are used for recreational boating and the global yachting industry has grown at an average annual rate of six percent for the past three years.

Yachting represents a $12 billion industry in the U.S. alone, generating almost $1.6 billion in direct and indirect taxes for the federal and state governments. The Fort Lauderdale yachting industry has employed over 10,000 workers.

New yacht market sales in 2021 included a range of products ranging from complex marine structures to custom materials, parts, and accessories. At Florida Yachts International, our experts are ready to help you enjoy the yachting lifestyle.

How Many Yachts are Sold Each Year?

Over 800 super yachts were sold in 2021, a 77% jump from new yacht market sales in 2020. In 2021, the global yacht market was valued at 9.50 billion USD and is expected to grow by 5.4% annually between 2022 and 2030.

Yacht demand has gradually increased in the last few years, as individuals’ disposable incomes have increased. They have become more inclined to participate in leisure or recreational activities. Yacht sales are driven primarily by consumer preferences for luxury vacations, individualized services, and exclusive travel.

Future of the Yacht Industry

The 2022 yacht industry forecast shows that the superyacht industry is expected to increase at 6.4% to reach $3.5 billion USD by the end of the next yacht industry analysis. China’s yacht market, the world’s second largest, is expected to reach a market size of $1.3 billion USD in 2026, with a 7.6% increase in luxury yachts for sale worldwide.

International Luxury Yacht Consultants

With over 300 years of combined luxury yachting experience, our international luxury yacht consultants are experts in creating the right yachting program for you. Our yachting solutions include buying and selling yachts, new construction, pre-owned yachts, and luxury yacht charters.

Whatever your dream is, Florida Yachts International can make it a reality, whether you’re cruising in splendor or fishing in style. To find out more about our worldwide inventory of yachts for sale or to begin living the yachting lifestyle, get in touch with our yacht purchase consultant. You can contact us online or give us a call at 305-239-4978.