Market Size of Europe Luxury Yacht Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 5.24 Billion |
| Market Size (2029) | USD 8.76 Billion |
| CAGR (2024 - 2029) | 10.81 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Luxury Yacht Market Analysis
The Europe Luxury Yacht Market size is estimated at USD 5.24 billion in 2024, and is expected to reach USD 8.76 billion by 2029, growing at a CAGR of 10.81% during the forecast period (2024-2029).
The European recreational boating industry continues to attract large volumes of participants who are strongly competing with rival luxury leisure pursuits. It has been estimated that European recreational boating involves the use of luxury yachts for leisure and recreation purposes. The increasing disposable income of consumers and growing inclination toward marine tourism and leisure activities, such as sailing, power boating, water sports, yachting, and others, have experienced significant growth in recent years.
The boating industry is expected to develop due to factors such as rising interest in recreational water sports and rising water-based tourism. Furthermore, the advancements in telematics and IoT platforms are expected to improve the luxury yacht industry's potential over the coming years. However, the market is projected to be hampered by the high initial and ownership costs of luxury yachts and environmental problems related to recreational boating.
The growing interest in water adventure sports is helping the water adventure tourist business and positively impacts the luxury yacht market growth. Water adventure sports are performed in bodies of water such as lakes, canals, the sea, streams, the ocean, and coastal locations. Water sports enthusiasts go to specific regions to participate in soft and hard water-based experiences and activities such as fishing, Fast tenders, sea kayaks, paddleboards, sailing, and jet skis. These factors are expected to drive market growth during the forecast period.
