Superyacht industry has gained significant traction during the recent past, owing to increasing number of tourism in across key European countries, which includes Italy, UK, and Spain. Tourism plays vital role in superyacht industry, as tourism is a key contributor to the social development, economic growth, and employment of many emerging economies across the globe. Furthermore, the countries in European region such as Italy, France, Spain, and Greece attract more tourists across the globe, as these countries allow tourists to purchase duty-free luxury goods.

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Global superyacht market is expected to witness significant growth during the forecast period (2018–2026). This growth is majorly attributed to the increase in number of adventure tourism and recreational activities in the emerging countries of Europe and Asia Pacific.
Increasing number of tourists in Europe and Asia Pacific region is turning to be the major driving factor for growth of the superyacht market

Growing tourism sector is one of the key driving factors for growth of the superyacht market in developed countries of Europe such as UK and Italy. For instance, according to World Travel and Tourism Council, the U.K. Travel & Tourism sector’s contribution to GDP was estimated around 6.2% in 2017, which is US$ 272.9 billion (GBP 214 billion) contribution to the overall GDP of UK.
Additionally, the rising spending in water-sports and recreational activities by international tourist and visitors, and high net-worth individuals in the UK has accelerated growth of the UK travel & tourism industry. According to World Travel and Tourism Council, in 2017, the international tourist and visitors’ spending increased by 7.9% from the spending of 2016. Hence, this growing tourism industry has accelerated demand for superyachts, which is expected to aid in growth of the superyacht market.

Increasing number of superyacht launches is expected to drive growth of the global superyacht market.
Significant rise in the number of new superyacht launches by prominent boat manufacturers in countries of Europe such as France, is another key factor for growth of the superyacht market. For instance, in July 2018, Abeking & Rasmussen, a yacht building company, launched KIBO, an 82m/268ft luxury yacht, in France charter market.
According to the U.S. Commercial Services, in 2018, around 1.8 million people owned a boat license in Germany, which allows them to operate sailing motor boats or yachts. The country has around 6,250 miles of waterways, which is expected to be one of the major factors driving growth of the superyacht market during the forecast period.

The luxury superyacht market is characterized by the presence of well-diversified and established boat builders in the North America and Europe. Boat builders engaged in custom and semi-custom boat segments are planning to expand its regional footprint and product portfolio, especially regarding its product quality, services, technology, and price. This competitive environment among prominent superyacht manufactures such as Beretta yachts and Royal Huisman is expected to intensify during the forecast period. Boat manufacturers are majorly focusing towards developing new technologies and upgrading its product portfolio in order to maintain its dominance in this highly competitive marketplace.

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Some of the key players operating in the global superyacht market include Amels, Blohm+Voss, Christensen Shipyards, Feadship, Fincanteri, Heesen Yachts, Lurssen, Nobiskrug, Oceanco, Perini Navi, Sunseeker Yachts, Holland Jachtbouw, Royal Huisman, Moonen Shipyards, Mulder Shipyards, and Benetti Yachts.