What Is The Definition Of The Global Sailing Yatch Market?
A sailing yacht refers to a recreational watercraft primarily propelled by sails and wind power rather than by engine propulsion. Sailing yachts are designed for leisure cruising, racing, or both, and are typically characterized by their sleek hull designs, tall masts, and multiple sails that harness wind energy for propulsion.
Sailing Yatch Global Market Report 2024 provides data on the global sailing yatch market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The sailing yatch market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Sailing Yatch Market Size Expected To Expand, And At What Annual Growth Rate?
The sailing yacht market has grown steadily, increasing from $3.23 billion in 2023 to $3.44 billion in 2024 at a CAGR of 6.4%. Growth has been driven by the rising popularity of luxury recreational activities, growth in tourism, increasing disposable income in emerging markets, and the expansion of yacht chartering services. The market is expected to grow to $4.42 billion in 2028 at a CAGR of 6.5%, supported by demand for eco-friendly transportation, luxury tourism, experiential travel, and the availability of yacht financing. Trends include smart connectivity features, satellite communication advancements, lightweight materials, virtual reality in yacht design, and innovations in navigation systems.
What Are The Key Drivers Fueling Growth In The Sailing Yatch Market?
The growth in tourism is expected to boost the sailing yacht market. Tourism is driven by improved transportation, economic growth, and higher disposable income. Sailing yachts offer a unique travel experience, catering to the demand for adventure and luxury tourism. According to the Croatian Bureau of Statistics, Croatia saw 17.8 million tourist arrivals in 2022, a 39% increase compared to the previous year. This rise in tourism is expected to stimulate growth in the sailing yacht market.
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What Are The Principal Market Segments In The Global Sailing Yatch Industry?
The sailing yatch market covered in this report is segmented –
1) By Type: Non-Powered Yachts, Motor Yachts
2) By Propulsion Technology: Fixed Pitch Propulsion, Variable Pitch Propulsion, Folding Propulsion
3) By Application: Private Use, Commercial Use, Special Use
Which Emerging Market Trends Are Altering The Sailing Yatch Sector?
Companies in the sailing yacht market are developing innovative technologies like eFoiler systems to improve vessel speed and efficiency. This advanced electric propulsion system uses hydrofoil technology to lift the hull above water, reducing drag and increasing performance. In June 2022, UK-based Artemis Technologies introduced the eFoiler system for electric foiling workboats. These zero-emission vessels achieve speeds up to 34 knots and cover 60 nautical miles, offering sustainable, high-performance solutions for maritime operations while minimizing environmental impact.
What Is The Leading Region In The Sailing Yatch Market?
Europe was the largest region in the sailing yacht market in 2023. The regions covered in the sailing yatch market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
