According to Future Market Insights, the global market for yacht charter is expected to display steady growth during the period of forecast. The global yacht charter market has been witnessing consistent growth since 2012. According to this research, the global market for yacht charter, in terms of value, is anticipated to expand at a CAGR of 5.1% during the forecast period and is expected to reach a value higher than US$ 17 Bn by the end of the year of assessment (2027). Strong inclination of the younger audience towards sailing holidays, especially in European countries such as Italy and Croatia, driven by increasing disposable income has catalysed growth of the yacht charter market over the last few years.
The global yacht charter market is witnessing a trend of innovative interior design such as use of exotic leather for upholstery and aesthetic alignment of commodities inside the yacht. Motor and sailing yachts are equipped with modern furniture, woodwork, and good lighting. Moreover, the global yacht charter market is witnessing a trend of increasing yacht sizes. This is owing to rising preference of customers to explore destinations in large groups. Manufacturers are focused towards retrofitting old yachts, especially motor yachts, in order to make them more fuel efficient and reduce CO2 emissions. Eco-friendly yachts with low CO2 emissions are presented with various Environment Protection Awards by RINA – an organization that issues notation Green Plus to environmental-friendly ships on the basis of environment performance index, which includes impact of the vessel on the environment
Sailing yacht to reflect high market value in the years to follow
On the basis of type, the global yacht charter market has been segmented into motor yacht and sailing yacht. Sailing yacht segment is expected to represent largest share in terms of value. In terms of value this segment has been estimated to reach a value of over US$ 10 Bn by the end of the year of assessment. Revenue contribution of the segment to the global yacht charter market is expected to increase at a CAGR of 4.7% throughout the period of forecast.
Schooner to largely contribute to the growth of sailing yachts during the assessment period
Sailing yacht segment is further categorized into sloop, schooner, catamaran and ketch. In 2017, the schooner sub segment reflected a valuation a bit under US$ 2600 Mn whereas the sloop sub segment reflected a value of over US$ 2700 Mn. In 2017, the sloop sub segment dominated the market. However, the schooner sub segment gained high traction over years and surpassed the sloop sub segment and is estimated to touch a higher valuation of more than US$ 4100 Mn by the end of the year of assessment (2027) as this segment is also projected to register a higher growth rate than the sloop segment. The catamaran sub category is poised to grow at the highest rate to register a CAGR of 6.6% throughout the period of forecast and is anticipated to reach a value a little less than US$ 1500 Mn by end of 2027.
Future Market Insights offer a 10-year forecast for the global yacht charter market between 2017 and 2027 in its recent report titled “Yacht Charter Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)”. The primary objective of the report is to offer insights on the advancements in the yacht charter market. The study demonstrates market dynamics that are expected to influence the current environment and future status of the global yacht charter market over the forecast period. The primary objective of this report is to offer updates on trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the global yacht charter market.
In this report, Future Market Insights (FMI) analyses the global yacht charter market for the period 2017–2027. The primary objective of the report is to offer updates on the advancements in the global yacht charter market.
In the next section, FMI analyses the performance of the yacht charter market on the basis of the global market revenue split, since this is essential in understanding the future growth potential of the market. This section also includes FMI’s analysis of the key trends, drivers and restraints and opportunities that are influencing market growth currently. Impact analysis of the key growth drivers and restraints, based on the weighted average model, is included in the report across all regions to equip and arm clients with crystal clear decision-making insights.
The next section of the report includes analysis of the yacht charter market by region. It provides a market outlook for 2017–2027 and sets the forecast within the context of the yacht charter market. This study discusses the key regional trends contributing to growth of the yacht charter market on a worldwide basis, as well as analyses the degree at which the global drivers are influencing this market in each region. Key regions assessed in this report include Caribbean, Mediterranean, Rest of EMEA, Americas and APAC.
All the above sections, by yacht type, consumer type, by yacht size, and by region evaluate the present scenario and the growth prospects in the yacht charter market for the period 2017–2027. We have considered 2015 as the base year and provided data for the trailing 12 months.
To calculate the yacht charter market size, we have considered the overall revenue generated from sales of yacht charter across the various regions. The forecast presented here assesses the total revenue, by value, generated across the yacht charter market. In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the yacht charter market would develop in the future. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analysis – based on supply side, consumer spending and economic envelope. However, forecasting the market in terms of various yacht charter segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.
It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and to identify the right opportunities in the yacht charter market.
Another key feature of this report is the analysis of all key yacht charter market segments and sub-segments, regional adoption, revenue forecast in terms of absolute dollar forecast in terms of absolute unit. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity are critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources, from a sales and delivery perspective, present in the yacht charter market.
In order to understand the key segments in terms of growth and adoption of yacht charter across the concerned regions, FMI has developed the yacht charter market attractiveness index, which should help clients identify the real market opportunities.
In-depth competitive assessment
In the final section of the report, the yacht charter market competitive landscape is included to provide report audiences with a dashboard view, based on various categories of providers present in the market value chain, their yacht charter product portfolio and key differentiators in the market. Key categories of providers covered in the report are yacht charter providers. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a segment in the yacht charter market value chain. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the yacht charter market place. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the yacht charter market space.
Key Segments Covered