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Global yacht charter market to grow at a CAGR of 5.8%

Global yacht charter market to grow at a CAGR of 5.8%

Yacht charter is defined as renting of yacht for travelling various destinations. There are two types of yacht charter, bareboat and crewed. Yacht is different from working ships mainly due to yacht is used for leisure purposes. Yacht chartering is usually a vacation activity but it can also be used for corporate events.

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The global yacht charter market is segmented into yacht type segment such as motor yacht and sailing yacht. Further, motor yacht segment is sub-segmented into displacement type, semi-displacement, planing, Catamaran, trimaran.

From above segments, motor yacht segment captured the largest market of overall yacht charter market by the end of 2024 and is projected to post a noteworthy CAGR during the forecast period. Likely, this growth of motor yacht segment is attributed to the increasing consumer preference for posh interior designs and comfort.

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Moreover, rising disposable income of the population is believed to intensify the growth of yacht charter market across the globe.     

Global yacht charter market is projected to post a noteworthy CAGR of 5.8% during the forecast period i.e. 2017-2024. Moreover, the global yacht charter market is anticipated to capture considerable sales by the end of 2024.

Additionally, the yacht charter market is riding on the back numerous factors such as changing lifestyle of the consumers along with growing sea tourism.

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In terms of regional platform, with 69.1% in 2016, Europe region contributed the largest share in the market of global yacht charter. Further, Western Europe countries such as Italy and others are the major countries witnessing the augmenting the demand for yacht charter due to presence of high net worth individuals (HNWI).

In addition to this, motor yacht is mostly used yacht in this region owing to strong build and spacious. In addition to this, presence major yacht charter in Europe region is believed to foster the growth yacht charter market.

Growing Number of Tourism

Swelled disposable income of the consumers along the growing interest towards leisure activities such as sailing is envisioned to foster the growth of yacht charter market over the forecast period. Further, advance booking methods are allowing consumers to book yacht while booking flights tickets is also believed to propel the market of yacht charter.

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Favorable Government Programs

Government initiatives to boost the tourism are projected to foster the growth of yacht charter market. Moreover, rising adoption of sailing vacations by affluent consumers is also bolstering the market of yacht charter.

Although, high cost associated with yacht charter is anticipated to hamper the growth of yacht charter market over the forecast period.

The report titled Yacht Charter Market: Glob…look 2024” delivers detailed overview of the global medical equipment rental market in terms of market segmentation by yacht type, by consumer, by yacht size and by region.                  

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the global yacht charter market which includes company profiling of Yachtico Inc., , Sailogy S.A., Enitiative.biz, Ltd., Antlos S.r.l., Collaborative Boating Inc., Zizooboats GmbH , Fraser Escape Bareboat Charters , Princess Yachts International PLC, Sunsail Worldwide Sailing Ltd.  The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.

On the whole, the report depicts detailed overview of the global yacht charter market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.         

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