Loading...

Yacht Charter Market Expected to Reach $25.16 Billion by 2026

 
 

quote By type, the motorized type segment is expected to dominate the market, in terms of revenue. In addition, by size segment, the medium sized (ranges from 30m - 50m) segment dominated the global yacht charter market in 2018. Where as ,the large segment is expected to lead during the forecast period. Region-wise,Europe is anticipated to be the highest revenue contributor, and Asia-Pacific is expected to lead in the future ,followed by North America and LAMEA. quote

Pranav Padalkar
Lead Analyst, Automotive and Transportation at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a recent report published by Allied Market Research, titled, “Yacht charter Market by Type, Size, and Application: Opportunity Analysis and Industry Forecast, 2019–2026”,the global yacht charter market was valued at $15.20 billion in 2018, and is projected to reach $25.16 billion by 2026, registering a CAGR of 6.3% from 2019 to 2026. By type, the motor segment was the highest revenue contributor in 2018, accounting for $10.76 billion, and is estimated to reach $18.65 billion by 2026, registering a CAGR of 7.2% during the forecast period. In 2018, the Europe region accounted the major market share of the yacht charter market.

Europe dominates the market in terms of revenue, followed by Asia-Pacific ,North America, and LAMEA. In Asia-Pacific, Japan dominated the yacht charter market in 2018, whereas rest of Asia-Pacific is expectedto grow at a significant rate during the forecast period.

Yacht chartering is the practice of renting or chartering, a sailboat or motor yacht and travelling to various coastal or island destinations. It is a key activity in the area of service that is connected to the recreational boating. The changes in the yacht infrastructure for better performance further creates an opportunity for augmentation of the market over the assessment period. Moreover, to reduce the production cost, manufacturers are shifting toward the utilization of modular construction method for yacht building. Also, the average size of large yachts increased from 47.8m in 2013 to 51.6m in 2017. In addition, people across the globe are accepting the changing constructed based yachts by breaking off from the traditional Caribbean and Mediterranean waters for sailing in Asia-Pacific, the Middle East, and Antarctic. This shift coupled with the development in yacht infrastructure has caused the growth of the yacht market as it is used as an attraction factor for people across the globe.

Furthermore, the yacht charter distinguishes between two type of renting i.e. bareboat yacht chartering and chartering with the skippers/ crew.    

In addition, global yacht charter market is expected to remain influenced by eternal need for luxury and change in lifestyle. Moreover, introduction of new materials such as structural glass has allowed yacht architectures to reach new levels of sophistication.

Growth in number of yacht production, under construction projects is estimated to have a significant growth for the yacht charter market. Featuring helipads, swimming pools, saunas, hot tubs, and more yachts are epitome of luxury. Also, the key operating players in this business are adopting acquisition and expansion strategies to have their presence internationally. For instance, the boat rental Spain based company Nautal has raised €1million in funding to consolidate its market position in Spain and also planning to expand in U.S.

The yacht charter market remained one of the few bright spots in an otherwise troubled global economy. With strong underlying drivers such as rise in ultra-net worth of individuals, surge in inclination toward recreational & expeditions, and rise in trend of yacht tourism, the market is expected to witness significant growth during the forecast period. At the same time, the sector is facing restraint i.e. high cost, and natural calamities. 

Additionally, the increasing number of private islands on cruise itineraries, use of alternative source of energy & improvised purchasing power across the globe, and increase in number of high net worth individuals are boosting to the growth of global yacht charter market. Furthermore, the increase in the demand for leisure activities due to a rise in disposable income and hectic lifestyles also responsible for the growth of market. The ease of booking a yacht has led to a rise in the popularity of yacht vacations among the youth to celebrate events in luxury, which estimated to create an opportunity for the market growth. 

Natural calamities and high cost associated with yacht charter are the key restraining factor of this market. Moreover, increased involvement of intermediaries & hybrid business models, rapid changes in yacht infrastructure and yacht tourism to boost demand for yachts charter in the upcoming years. In addition, the rising popularity of boats and the increasing preference for luxurious & large sized yachts that can accommodate large groups will further propel the market growth in future.

Key Findings Of The Study

  • In 2018, by type, the Motorized type segment generated the highest revenue.

  • In 2018, by size, the medium segment was the highest revenue contributor.

  • In 2018, by application, the vacation/leisure segment was the highest revenue contributor.

  • In 2018, region-wise, Europe contributed the highest revenue, followed by Asia-Pacific, North America, and LAMEA.

The key players analyzed in the yacht charter market report include Sailogy S.A., Yachtico Inc., Zizooboats GmbH, Fraser Yacht, Boatsetter, Northrop & Johnson, Nautal, Martello Yachting And Company, Princess Yacht limited and Charter Yachts Australia.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Ram D
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Yacht Charter Market by Type ( Motorized yacht, Sailing Yacht and Others), by Size (Small (up to 30m), Medium (30m-50m), large (over 50m) and application (Vacation/Leisure, Sailing and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Yacht Charter Market"
Purchase Enquiry