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Yacht Charter Market Size, Industry Analysis Report By Type (Motorized Yacht, Sailing Yacht), By Size (Small, Medium, and Large), by Application (Vacation/Leisure, Sailing) & Region – Forecasts By 2030

  • PUBLISHED ON
  • 1970-01-01
  • NO OF PAGES
  • 239
  • CATEGORY
  • Automotive & Transportation
Market- Overview

The yacht charter market was worth USD 22.3 million in 2021 and is anticipated to expand at a CAGR of 6.1% over 2022-2030. It is further reckoned to be influencing by various growth inducing factors and accumulate a valuation of USD 40.5 million by 2030.

The growing disposable income of the masses, rising popularity of water-based adventures, and technological advancements in the field are primarily augmenting the outlook of this marketplace.

Alongside, rising focus of governments to expand marine tourism sector in their respective countries is creating lucrative opportunities for the business vertical to prosper.

Moreover, increasing emphasis of OEM manufacturers to build and launch advanced yachts is adding momentum to the progression of this industry.
Besides, the ease of yacht booking through online channels along with the widespread increase in political and corporate events across the globe are bolstering the growth of this market sphere.

On the flipside, high cost of yacht charters along with the travel obstacles caused by natural calamities are hindering the remuneration scope of the worldwide yacht charter market.

Yacht Charter Market- Description

Yacht charter is referred to as a time of motorized waterway vessels that are predominantly rented or purchased for recreational purposes. These yachts are mostly used to luxury cruise trips or parties. They are powered with a wide array of luxurious facilities handled by professional crew members. Chartered yachts are spacious in nature with expanding lengths to 75 to more than 250 ft. Some of these vessels are also hired for corporate purposes.

Yacht Charter Market- Key Trends

Rising disposable income of the masses to aid industry expansion

Booking a chartered yacht can get quite expensive since it is equipped with a wide array of luxurious facilities. Hence, apart from corporate organizations and official trip organizers, only individuals with high income levels can afford to book a yacht for personal recreation based purposes.

With prompt socio-economic developments, people are being bestowed with ample earning opportunities which in turn is increasing their spending power. This in turn is adding traction to the development of this market vertical.

Growing technological innovations in the field to bolster market growth

There has been a rising integration of advanced technologies into yachts. These technologies not only enhance the features of these marine vessels but also protect them from internal and external hindrances.

The incorporation of AI, Big Data, and field analyzing technologies into yachts help the concerned bodies to identify potential obstacles, predict upcoming natural disasters, while reducing human errors in the same. These factors are stimulating the overall dynamics of this business sphere.

Yacht Charter Market- Segmental Assessment

By Type
• Motorized Yacht
• Sailing Yacht
• Others

The motorized segment is likely to showcase a considerable progression by 2030. This is attributable to the various benefits offered by motor yachts including high speed, enhanced power, along with the ability to cover longer distances in lesser time.

By Size
• Small
• Medium
• Large

By Application
• Vacation/Leisure
• Sailing
• Others

The vacation/leisure segment is slated to generate significant returns over the stipulated timeline due to the rising disposable income of the masses and increasing developments in the marine tourism sector.

Yacht Charter Market- Geographical Landscape

The major regions constituting the geographical ambit of this business vertical are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, North America is projected to amplify substantially over the forecast duration of 2022-2030. This is ascribed to the growing disposable income of the masses, developing marine tourism, and increasing technological advancements in the field.

Yacht Charter Market- Competitive Hierarchy

The prominent players defining the competitive terrain of this marketplace are Northrop & Johnson, Yachtico Inc., Sailogy S.A., Burgess, Ionian Catamarans, IYC, Royal Yacht International, and Princess Yacht Charter.

Notably, in February 2022, Northrop & Johnson inked a partnership deal with NetJets to jointly provide enhanced marine travel experiences to their customers.

Report scope

Global Yacht Charter Market: Historical Trends- 2018-2021
Global Yacht Charter Market: Forecast Years- 2022-2030
Global Yacht Charter Market 2021- USD 22.3 million
Global Yacht Charter Market CAGR- 6.1%
Global Yacht Charter Market 2030- USD 40.5 million

Key Segments Reported-

• By Type (Motorized Yacht, Sailing Yacht, and Others)
• By Size (Small, Medium, and Large)
• By Application (Vacation/Leisure, Sailing, and Others)

Major Regions and Countries Covered-

• North America (U.S., Canada, and Mexico)
• South America (Brazil, Argentina, and Colombia)
• Europe (Germany, U.K., France, Italy, Spain, and Russia)
• Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
• Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)



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We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


Frequently Asked Questions

What is the market size and growth projections?

The yacht charter market was worth USD 22.3 million in 2021 and is anticipated to expand at a CAGR of 6.1% over 2022-2030. It is further reckoned to be influencing by various growth inducing factors and accumulate a valuation of USD 40.5 million by 2030.

What are the drivers shaping various markets?

Rising disposable income of the masses to aid industry expansion: - Booking a chartered yacht can get quite expensive since it is equipped with a wide array of luxurious facilities. Hence, apart from corporate organizations and official trip organizers, only individuals with high income levels can afford to book a yacht for personal recreation based purposes. With prompt socio-economic developments, people are being bestowed with ample earning opportunities which in turn is increasing their spending power.

Who are the key competitors of market Players?

Some of the major players operating within the market are Northrop & Johnson, Yachtico Inc., Sailogy S.A., Burgess, Ionian Catamarans, IYC, Royal Yacht International, and Princess Yacht Charter.

What are the top performing segments, and countries / regions of each of the markets?

The major regions constituting the geographical ambit of this business vertical are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, North America is projected to amplify substantially over the forecast duration of 2022-2030.

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