Yacht Charter Market to Exceed US$ 20.47 Bn by 2029
The global yacht charter market is anticipated to register a CAGR of 5.6 % during the forecast period of 2019-2029. In 2019, global sales of yacht charter are anticipated to be contributed by sailing yachts as compared to motor yachts. It is expected to reach US$ 20,473.5 Mn by the end of 2029.
Boat shows offer an incredible opportunity for dealers and companies to make big sales and increase brand penetration in the market. Yacht manufacturers are significantly focusing on showcasing their latest yachts at various boat shows worldwide to enhance the visibility of yachts among potential consumers and in the market. This in turn is fueling the demand for yacht charters.
FREQUENTLY ASKED QUESTIONS ABOUT Yacht Charter Market
How will the yacht charter market be critical in the future?
The yacht charter market is expected to register a significant CAGR during the forecast period, owing to rise in number of younger customers, who want to experience sailing holidays, booking yachts. Nowadays, consumers are spending more on outdoor recreational and leisure activities that encourage physical activity and healthy lifestyle choices.
Which will be the preferred yacht size in the foreseeable future?
In terms of size, large yacht segment is expected to witness robust growth during the forecast period of 2019-2029, attributable to the rise in demand for superyachts among young consumers for hosting various events and parties
What type of yacht is expected to be the most preferred?
In 2019, motor yacht was the most preferred type and held the highest share in terms of value in the global yacht charter market. This segment is also expected to register the highest CAGR during the forecast period.
What will be the future trend in the yacht charter market?
Robust demand for short-team yacht charters along with growing popularity of exploring remote locations among millennials is anticipated to change the landscape of the yacht charter market.
Which region is expected to be the most lucrative market for yacht charter providers?
The Caribbean is expected to register the highest CAGR during the forecast period, attributable to consumer preference for exploration of exotic and remote Caribbean islands.
Sailing Yachts Hold Dominance with 63.4% share
Sailing yachts is expected to hold about 63.4% of the market revenue due to rise in demand for eco-friendly yachts among yacht enthusiasts as they are getting aware of the adverse effects yachting can have on the environment. Fuel pollution is one of the harmful by-products in the modern era, and a considerable amount of this comes from yachting industry. Therefore, sailing yachts uses a small amount of fuel as comparison to motor yachts. In addition, sailing yachts are less expensive and can go much further distances than motor yachts. The new luxury yacht provides toruists a pesronalized beach experience for enhancing the luxury appeal of the yachts. Luxury yachts have inbuilt casinos that magnify the lesiure experience of a tourist.
Mediterranean to Dominate Global Yacht Charter Market
In the global yacht charter market, the Mediterranean accounted for a maximum share of around 41.2 % in terms of value in 2018. This was attributable to a larger number of consumers across the globe that are hiring more yacht charters from the Western and Eastern Mediterranean regions. Additionally, the Mediterranean is the largest sea touching Africa, Europe, and Asia continents, and is the most popular for cruises and sailing. There are 6,000 Greek islands in Mediterranean but people live in around 227 of them. Most of the popular destinations in Mediterranean include Croatia, Greece, and Turkey. The thriving tourism industry boosts the demand for yacht charter in this region.
Introduction of ‘Boaters’ Community and Travel Blogs to Boost Market Growth
Online service providers in the yacht charter market are launching intuitively designed online boaters’ community to garner maximum attraction towards yacht vacations. This acts as a social network for boaters, and provides them tips on various fronts such as useful landmarks, resources, and restaurants & bars. Similarly, online yacht charter service providers regularly update travel & leisure blogs, where yacht enthusiasts can find essential information on topics such as top yachting destinations, top beaches, safety tips, and answers to FAQs.
For instance, in 2015, Collaborative Boating Inc. launched TidalWavez - a mobile application for the boater community - to connect boaters with each other and help them share must-know information and other relevant tips. Such strategies adopted by service providers are expected to bode well for the global market.
Large (> 50 Meter) holds leading revenue share
Medium (30-50 Meter) to showcase noteworthy CAGR
Sailing Yacht to see high demand
Demand for motor yacht is on rise
Retail to remain top in consumer type
Corporate is expected to show a higher CAGR
How Growth will Unfold
Nowadays consumers, mainly millennials, seek customized and differential options to enjoy exceptional travel experiences through using yacht charters. Retail consumers, specifically opt for exploration of exotic destinations in large groups as it is cost effective as compared to individual and couple chartering. Therefore, various yacht charter companies are expanding their fleet of large and medium yachts to cater to this growing demand and improve their market positions.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Yacht Charter Market: Global Industry Analysis 2014-2018 & Opportunity Assessment 2019-2029
A recent market study published by Future Market Insights on the yacht charter market provides global industry analysis for 2014-2018 and forecast for 2019-2029. This report offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters of the yacht charter market, the growth prospects of the market are obtained with maximum precision.
Yacht Charter Market Taxonomy
The global yacht charter market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Small (<30M)
- Medium (30-50M)
- Large (>50M)
- Sailing Yacht
- Motor Yacht
- Displacement Type
- Rest of EMEA
The report begins with the executive summary of the yacht charter market, which includes a summary of the key findings and statistics of the market. It includes dominating segments in the global yacht charter market, along-with key facts about yacht charters, and graphical representation of the segments according to market size and growth rate.
Readers can find detailed segmentation and definition of the yacht charter market in this chapter, which will help them to understand basic information about the yacht charters available in the market. This section also highlights the inclusions and exclusions, which help readers to understand the scope of the yacht charter market report.
This section explains the global market value analysis and forecast for the yacht charter market between 2019 and 2029. It includes detailed analysis of the historical yacht charter market, along with an opportunity analysis for the future. Readers can also find the absolute $ opportunity for the current year (2019 – 2020), and incremental opportunity for the forecast period (2019 – 2029).
This chapter explains the key macroeconomic factors that are expected to influence the growth of the yacht charter market over the forecast period. Along with macroeconomic factors, this section also highlights the opportunity analysis for the yacht charter market. This chapter also highlights the key market dynamics of the yacht charter market. Moreover, readers will understand the key trends followed by the leading manufacturers in the yacht charter market. This section also covers supply chain analysis, forecast factors, Porter’s analysis, and PESTLE analysis for the global yacht charter market.
Based on size, the yacht charter market is segmented into small (<30M), medium (30-50M), and large (>50M). In this chapter, readers can find information about key attractive segments during the forecast period.
Based on yacht type, the yacht charter market is segmented into sailing yacht and moto yacht. The sailing yacht segment is further sub-segmented into sloop, schooner, catamaran, and ketch. Motor yacht segment is further sub-segmented into displacement type, semi-displacement, planing, catamaran, and trimaran. In this chapter, readers can find information about key attractive segments during the forecast period.
Based on consumer type, the yacht charter market is segmented into corporate and retail. Retail consumer type is further sub-segmented into individual, family/group, and couple. In this chapter, readers can find information about key attractive segments during the forecast period.
This chapter explains how the yacht charter market is expected to grow across various geographical regions, such as the Caribbean, Mediterranean, Americas, APAC, and the Rest of the EMEA.
This chapter includes a detailed analysis of the growth of the Caribbean yacht charter market, along with a country-wise assessment that includes BVI, St.Martin, Grenada, Cuba, and the Rest of the Caribbean. Readers will also find some of key points on the basis of estimated market size and consumption of yacht charter.
Readers can find detailed information about several factors, such as the pricing analysis and the regional trends, which are impacting the growth of the Mediterranean yacht charter market. This chapter also includes the growth prospects of the yacht charter market in leading countries such as Spain, France, Greece, Turkey, Croatia, and the Rest of the Mediterranean.
Important growth prospects of the yacht charter market based on size, yacht type, and consumer type in several countries, such as Bahamas, Florida, Mexico, and the Rest of the Americas, are included in this chapter.
Thailand, Malaysia, Indonesia, Australia, Maldives, and the rest of APAC are the leading countries in the APAC region that are the prime subjects of assessment to obtain the growth prospects of the APAC yacht charter market in this chapter. Readers can find detailed information on the growth parameters of the APAC yacht charter market during the period of 2019-2029.
This chapter highlights the growth of the yacht charter market in rest of the EMEA by focusing on Sweden, Poland, the U.K., Austria, Netherlands, South Africa, GCC Countries, and others. The section also highlights data points regarding the growth of the yacht charter market in the rest of the EMEA region.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the yacht charter market along with their market presence analysis by region and product portfolio.
In this chapter, readers will find a comprehensive list of all leading manufacturers in the yacht charter market, along with detailed information about each company, including company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Yachtico Inc., Boatbookings (Enitiative.biz, Ltd.), Sailogy S.A., Antlos S.r.l., Collaborative Boating Inc., Fraser Escape Bareboat Charters, Princess Yacht Charter (Princess Yachts International PLC), TUI Group (The Moorings Limited and Sunsail Worldwide Sailing Ltd.), and Zizooboats GmbH.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the yacht charter report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, about the yacht charter market.
How the research was conducted?
Primary research interviews with key opinion leaders and other participants were conducted for data collection and validation of the below information:
- Key Segments in the Yacht Charter Market
- Market Share Analysis
- Average Yacht Charter Price (US$) Per Week and Market Growth
- Comparative Analysis of Several Yacht Charter Present in the Market
- Market Size
- Key Trends & Developments
- Competition & Key Vendor Strategies
- Industry Journals
- National Marine Manufacturers Association
- International Council of Marine Industry Associations
- Import-Export Database
- Annual Reports/SEC filings/Investor Presentations
Primary Interview Splits