Yacht Industry Insights – June 2024 Edition
The yachting industry's future looks bright with its sustained growth, innovative advancements, and increased focus on sustainability.
A Flourishing Market
Market Dynamics
Industry Milestones and Achievements
Employment and Economic Impact
Pioneering Sustainability
In response to growing environmental concerns, the yachting industry is making notable strides towards sustainability. Dutch shipyard Oceanco is at the forefront with plans to establish a 100% renewable energy and waste-free facility by 2030. Feadship is set to build the first emission-free yachts by 2025, while German shipyard Lürssen is developing an emissions-free hydrogen-powered yacht expected to launch in the same year. Additionally, the Ferretti Group aims to reduce its shipyard’s electricity use by 79% through solar power and energy-efficient LED lighting.
Despite these advancements, challenges persist. Notably, two-thirds of the 8,000 metric tons of CO2 produced annually by the top 20 billionaires is attributed to their superyachts. This statistic highlights the ongoing need for further sustainable practices within the industry.
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