PUBLISHER: The Business Research Company | PRODUCT CODE: 1539786
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539786
A sailing yacht is a recreational watercraft that relies primarily on sails and wind power for propulsion, as opposed to engine propulsion. Sailing yachts are designed for leisure cruising, racing, or both, and are characterized by sleek hull designs, tall masts, and multiple sails that harness wind energy.
The main types of sailing yachts include non-powered yachts and motor yachts. Non-powered yachts, also known as sailboats, depend on wind propulsion through sails rather than engine power to move on water. They incorporate various propulsion technologies such as fixed pitch, variable pitch, and folding propulsion. These yachts serve different applications including private, commercial, and special uses.
The sailing yacht market research report is one of a series of new reports from The Business Research Company that provides sailing yacht market statistics, including the sailing yacht industry global market size, regional shares, competitors with sailing yacht market share, detailed sailing yacht market segments, market trends, and opportunities, and any further data you may need to thrive in the sailing yacht industry. These sailing yacht market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The sailing yacht market size has grown strongly in recent years. It will grow from $3.23 billion in 2023 to $3.44 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth observed in the historical period can be attributed to the increasing popularity of luxury recreational activities, the expansion of the tourism industry, rising disposable incomes in emerging markets, growing participation in sailing events, and the rise of yacht chartering and rental services.
The sailing yacht market size is expected to see strong growth in the next few years. It will grow to $4.42 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be attributed to a rising demand for eco-friendly transportation, growing interest in experiential travel, expansion in luxury tourism, increased availability of yacht finance options, and growth in coastal real estate development. Major trends expected in the forecast period include the incorporation of smart connectivity features, advancements in satellite communication systems, utilization of lightweight materials, adoption of virtual reality (VR) in design processes, and advancements in navigation and mapping systems.
The growth of the sailing yacht market in the foreseeable future is expected to be driven by the increase in tourism. Tourism growth is spurred by enhanced transportation infrastructure, economic development, marketing initiatives, and rising disposable incomes. Sailing yachts contribute to tourism by offering distinctive travel experiences, enabling exploration of remote destinations, and meeting the rising demand for luxury and adventure tourism. For example, in 2023, as reported by the Croatian Bureau of Statistics, commercial accommodation establishments in Croatia experienced a significant increase with 17.8 million tourist arrivals and 90.0 million tourist nights in 2022, marking respective rises of 39.1% and 28.3% from 2021. Thus, the expansion of tourism is a key driver behind the sailing yacht market's growth.
Major companies in the sailing yacht market are advancing innovative technologies such as eFoiler technology to enhance speed and efficiency on the water. eFoiler technology employs an advanced electric propulsion system coupled with hydrofoil technology, lifting the yacht's hull above the water to reduce drag and increase speed. For example, in June 2022, Artemis Technologies, a UK-based technology company, unveiled the eFoiler system designed for electric foiling workboats. This development marks a significant achievement in maritime sustainability by offering zero-emission vessels capable of high-speed and efficient operations. These vessels can achieve speeds of up to 34 knots and cover distances of 60 nautical miles, addressing global needs for workboats and crew transfers while delivering superior efficiency and environmental advantages compared to traditional fossil fuel-powered alternatives.
In May 2021, MarineMax, a company based in the United States, acquired Cruisers Yachts for an undisclosed sum. This strategic acquisition allows MarineMax to address a product gap in its portfolio, bolster its offering with premium American-built yachts, improve gross margins, and expedite its market expansion efforts. Cruisers Yachts, also based in the US, specializes in manufacturing luxury yachts such as sport cruisers, motor yachts, and express cruisers.
Major companies operating in the sailing yacht market are Sabre Yachts Corporation, Ferretti S.p.A., Sunseeker, Hinckley Yachts, HanseYachts AG, Bavaria Yachts, Dufour Yachts, Catalina Yachts, Oceanco, Baltic Yachts Oy Ab Ltd., Nautor's Swan Oy, Garcia Yachts, Tartan Yachts, BSI Group, Morris Yachts, Hylas Yachts International, Island Packet Yachts, RM Yachts, Azimut Benetti S.p.A., Alerion Yachts, Italia Yachts srl, Chantiers Amel
Europe was the largest region in the sailing yacht market in 2023. The regions covered in the sailing yacht market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the sailing yacht market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The sailing yacht market consists of revenues earned by entities by providing services such as brokerage for buying and selling, management and maintenance, crew placement, and marina facilities. The market value includes the value of related goods sold by the service provider or included within the service offering. The sailing yacht market also includes sales of sails, rigging equipment (such as masts and booms), and navigation instruments. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Sailing Yacht Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on sailing yacht market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for sailing yacht ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The sailing yacht market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.