Global Yacht Charter Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
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“Global Yacht Charter Market” is the title of an upcoming report offered by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global yacht charter market has been segmented on the basis of yacht type, yacht length, contract type, as well as regions and countries.
Yacht chartering is the practice of renting, or chartering, a motor yacht or sailboat, to travel to various costal or island destinations.
The optimization of tourism industry in recent years has facilitated an increase in the number of individuals travelling to various destinations across the globe. A growing number of yacht service providers, as well as a greater number of promotional events are some of the factors that leading to the revenue growth of the global yacht charter market. Younger individuals make up the primary demographic that yacht chartering appeals to, who use them to celebrate birthdays, anniversaries, weekend parties, etc.
Prior to the COVID-19 pandemic, the demand for yacht charter had significantly grown due to a booming tourism sector, higher disposable incomes, as well as a higher inclination of individuals towards outdoor leisure activities. However, post the coronavirus outbreak, revenue growth of the tourism industry as a whole has taken a significant toll. This negative brunt and its corresponding effects are expected to linger over the global yacht charter market for the next few years.
Segmentation of the global yacht charter market is as follows:
In terms of yacht length, the 20-50 ft. segment accounted for the majority revenue share of the global yacht charter market in 2019, and is also expected to index the fastest rate of revenue growth in the foreseeable future. The below 20 ft. segment also accounted for a considerable revenue share of the global market in 2019.
With respect to contract type, the chartered crew segment accounted for the highest number of revenue shares in 2019, owing to the various benefits that come with a chartered crew.
On the basis of yacht type, the motor yacht segment accounted for the majority revenue shares of this global market, and is expected to continue to do so in the foreseeable future. This can be accredited to the advantages of a motor-run yacht such as increased power and speed, as well as the ability to traverse greater distances in shorter durations of time.
Regional Segmentation and Analysis:
Europe accounted for the majority revenue share of the global yacht charter market in 2019, and is expected to continue to do so over the next 10 years. The Asia Pacific is expected to emerge as the fastest growing region in the foreseeable future, owing to improving standards of living, higher disposable incomes, and favorable government initiatives.
Segmentation of the Global Yacht Charter Market:
Segmentation by Yacht Type:
- Sailing Yacht
- Motor Yacht
Segmentation by Yacht Length:
- Up to 20 ft.
- 20 to 50 ft.
- Above 50 ft.
Segmentation by Contract Type:
- Bareboat Charter
- Crewed Charter
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Beneteau S.A
- Sunseeker International Ltd.
- The Moorings Limited
- Camper & Nicholsons International Ltd.
- Sunsail Worldwide Sailing Ltd.
- Argo Nautical Limited
- Kiriacoulis Mediterranean Cruises Shipping S.A.
- Boat International Media Ltd.
- Yachtico Inc.
- Fraser Yachts Florida Inc.
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