According to the latest report by IMARC Group “United States Luxury Yacht Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The United States luxury yacht market is expected to exhibit strong growth during 2021-2026.
A luxury yacht refers to a professionally crewed marine vessel that is either sailed or motor-driven. It is usually privately owned, chartered or rented by private entities. With an opulent appearance, the luxury yacht is well-equipped with sophisticated facilities, such as sun pads, sauna, gymnasium, jacuzzi and spa, to offer a luxurious experience and high standards of comfort. In the United States, luxury yachts are provided on lease for recreational activities, events and business meetings.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The United States luxury yacht market is primarily driven by the rising investments in yachts due to improving lifestyles and rising disposable incomes. Additionally, consumers are increasingly engaging in marine recreational activities and seeking luxurious experiences, which has bolstered the market growth. Furthermore, several key players are introducing innovative components and modern designs to enhance the performance, durability and safety of luxury yachts, thereby escalating their demand across the country. Other factors, including the emerging trend of remote explorations and growing usage of advanced structural materials like fiberglass, are also anticipated to drive the market further.
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 Region:
- Northeast
- Midwest
- South
- West
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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