Yachts Charter Market: Industry Analysis and Forecast (2022-2029) by Yacht Type, by Yacht Size, by Consumer Type

Yachts Charter Market size was valued at US$ 16.7 Bn. in 2021 and the total revenue is expected to grow at 5.5% (CAGR) through 2022 to 2029, reaching US$ 25.63 Bn.
Yachts Charter Market Overview:
A yacht is a type of sea vessel that is used strictly for recreational or pleasure purposes like cruising, entertaining, water sports, fishing, or year-round accommodations. Yachts are usually large enough to have some form of sleeping quarters on board for overnight trips as well as a kitchen and a bathroom. They are also large enough that they require more than human inputs to propel forward.

Yachts are classed by mode of propulsion, size, style, amenities, and function. Yacht charters can be a wonderful way to take a new approach to any water-cantered vacation. Yacht rentals are a unique experience, combining the luxury of a five-star resort with the excitement of a boat trip into one unforgettable experience.

The yachts charter market is segmented by Yacht Type (Sailing Yachts, Motor Yachts, Catamaran Yacht), by Yacht Size (Small, medium, large) and by Consumer Type (Corporate, Retail, Other), and geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the value (in USD Billion) for the above-mentioned segments.

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Research Methodology
The yachts charter market report provides an evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the driving factors and restraints that are playing a substantial role in the market.

Primary and secondary data have been collected from each country that is covered in the report. Primary samples and sources used to collect secondary data made this report comprehensive and helped to get deep insight in each segment and dynamics of the market. Sources for secondary data include internal MMR database, annual reports of the key players, financials of unorganized players, associations of tours and travels, government database in each country. Also, the data are extracted from paid databases like Reuters, Bloomberg, Hoovers, etc. The secondary research carried out at the primary level is verified by primary research. The detailed sources are given in the report.

Bottom-up approach have been applied to estimate the market value and market growth rate, the country-level analysis is provided by analyzing various regional players, and consumer behaviour.
Yachts Charter Market Dynamics:
Rising customer interest in maritime tourism drives the yacht charter market

The demand for marine tourist activities is growing as a result of the rising likelihood of holiday activities and rising per capita income. The many activities provide travelers with unforgettable and difficult experiences. Marine Tourism is growing thanks to shifting consumer preferences, dropping travel costs, and rising middle-class disposable income. The report also has dedicated chapter for consumer preferences on torus and travels and changes in pattern in last five years.

The demand for maritime tourism activities is rising as a result of population growth and the younger generation. Additionally, a rise in internet usage is inspiring more people to engage in leisure activities through travel blogs and social media influencers. Numerous prospects for economic growth in a nation are provided by tourism.

It is one of the fastest-growing industries and contributes significantly to the total revernue of tours and travel industry across the world. Improving tourism infrastructure, as a result, is a major element in the expansion of marine tourism in the yacht charter sector.

Booking a yacht charter at a boat drives the market.

Booking a yacht charter at a boat show rather than online has several benefits. Special discounts that aren't available at other times are frequently offered at events. Companies are now more likely to bargain over prices or offer discounts to close a deal. These elements consequently aid in the growth of the yachting sector.

During boat shows, dealers and enterprises have a unique chance to boost sales significantly and expand the market reach of their brand. As a result, to increase their visibility among potential customers and in the industry, yacht builders put a lot of effort into presenting their new boats at significant boat shows worldwide.

High yacht charter cost hindering the market growth

The location of the charter, the type of yacht, local and international taxes, and base fees key things affecting the cost of charter a yacht. Rent for these charters varies widely as a result. In addition, the cost of renting a private boat ranges from US$ 10,000 per week for sailing yacht cruises to US$ 200,000 per week for the most luxurious charter.

Opportunity for yacht Charter Company

Some of the major providers of yacht charters are NORTHROP & JOHNSON, Yachtico Inc., Sailogy S.A., Sweet Escape Yacht Charters, ARGO NAUTICAL LIMITED, Burgess, and Yacht Charter Fleet.
The yacht rental industry's major players are pursuing acquisition and development plans to increase their global presence, which will present a potential opportunity for yacht charter firms. Businesses can boost their sales and solidify their place in the yacht charter market by implementing cutting-edge technologies.

Online service providers in the yacht charter industry are creating user-friendly online boaters' communities to improve the appeal of yacht vacations. This functions as a social network for boaters, giving them knowledge about resources, restaurants, and bars. All of these initiatives and actions on the part of industry participants are anticipated to support industry growth during the course of the projection period.
Yachts Charter Market Segment Analysis:
By Yachts Type, In terms of yacht type, the motor yacht segment held a key share of the yacht charter market in 2021. A motor yacht is a yacht that is not propelled by the wind and sails. The majority of the time, a motor boat feels cozy. The standard design has a large living area in the middle and two cabins that are divided by the length of the yacht. The cabins typically resemble hotel suites. Essentially, this machine is a sizable boat that is propelled by either a diesel or a gasoline engine.

Based on yacht size, Small but mighty hatches are always a good option, Small boats get to sail more often than big boats. Most winds are so light that big boats hardly get moving, while a small boat will be going over 60% hull speed. On the ocean, the big boat’s sails tend to flop around in light winds due to the wave and swell motion, while the small boat sails on by. This just became very apparent to me while buddy boating with a Niagara 35, which ultimately needed to motor most of the time. An outboard motor can be much less expensive and easier to purchase, replace and service. The entire propulsion system has the potential to be replaced completely anew for less than $4000US in 2020, tax included, without the help of a high-cost technician. Gasoline is relatively inexpensive and very common (though a bit more dangerous.) Depending on the installation, they can create less vibration and noise within the boat during operation.

By Customer Type, Due to growing tourism the retail segment is projected to hold a significant proportion of the global yacht charter market. According to recently disclosed data from the MMR, retail sales of new boats are expected to top 300,000 units for the second year in a row by the end of 2021. The forecast for retail sales in 2021 is 7% higher than the five-year sales average but 4-6% lower than the record-breaking year of 2020. Global supply chain problems caused by the pandemic had an impact on manufacturers, which had a knock-on effect that limited growth in 2020 despite increased demand for new yacht boats. The yacht charter industry is being driven by the rising popularity of luxury cruising, particularly among high- and ultra-high-net-worth individuals worldwide.

Rich and ultra-rich people from all around the world have been drawn to new tourism destinations that provide luxurious cruises and magnificent scenery. Additionally, businesses are concentrating more on providing upgraded and expanded luxury cruises for their customers by extending premium amenities including infrastructure, Internet capabilities, bars, and restaurants. This is anticipated to strengthen the yacht charter market in the retail segment.


Global Yachts Charter Market Regional Insights:
North America is likely to dominate the global yacht charter market thanks to many tourism destinations. North America, which stretches from ocean to shining sea, is enormous and has something unique to offer in every coastal location. While the warmer waters of Florida are currently regarded as the yachting hub, New England is frequently regarded as the birthplace of yachting. Expansive orchards and roving moose provide fascinating finds on the Great Lakes interior. For the most daring traveler, the wild and stunning coastline of the Pacific Northwest and British Columbia on the West Coast offers an unparalleled wildlife experience.

The report covers forecast revenue growth at the global, regional, and country level and provide analyses of industry trends and restrains in each segment Besides this, the report analyses factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., restraints, opportunities, drivers, and trend. The report also provides an PORTER, & PEST analysis for all five regions
Yachts Charter Market Scope: Inquire before buying



Yachts Charter Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 16.7 Bn.


Forecast Period 2022 to 2029 CAGR:
5.5%
Market Size in 2029:
US $ 25.63 Bn.


 Segments Covered:
by Yacht Type
• Sailing Yachts
• Motor Yachts
• Catamaran Yacht


by Yacht Size
• Small
• Medium
• Large


by Consumer Type
• Corporate
• Retail
• Other


by Contract Type
• Bareboat
• Crewed



Yachts Charter Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key Competitors in Global Yachts Charter Market are:
• Boat International Media Ltd. (UK)
• Charter Yachts Australia (Australia)
• CharterWorld LLP (UK)
• Dream Yacht Charter (US)
• Fairline Yacht (UK)
• Fraser Yachts (Sydney)
• Inter Yacht Charter (UK)
• Martello Yachting and Company (Netherlands)
• Nicholson Yachts (US)
• Northrop & Johnson (US)
• Simpson Marine Limited (Hong Kong)
• Super Yacht Logistics, LLC (Japan)
• Thai Charters (Thailand)
• West Coast Marine Yacht Services Pvt Ltd. (India)
• Yacht Charter Fleet (UK)
• Yachtico, Inc. (US)
• Zizooboats GmbH (Germany)
• Burger Boat Company (US)
• Catamaran Guru (US)
• Dream Marine Limited (Republic of Korea)
• Fipa Group Srl. (Italy)
• Grand Yachts, Inc. (Canada)
• Horizon Yatch Company (US)
• Jokai Marive International, Inc. (Philippines)
• KingShip Marine Ltd. (Hong Kong)
• Maxi Dolphin Srl (Italy)
• Oceanco (Netherlands)
• OnBoat Inc. (US)
Frequently Asked Questions:

1. What is the forecast period considered for the Global Yachts Charter Market report?
Ans. The forecast period for the Global Yachts Charter Market is 2021-2029.

2. Which key factors are hindering the growth of the Global Yachts Charter Market?
Ans. High yacht charter cost hindering the market growth

3. What is the compound annual growth rate (CAGR) of the Global Yachts Charter Market for the forecast period?
Ans. 5.5 % of CAGR is the annual growth rate of the global yacht charter market.

4. What are the key factors driving the growth of the Global Yachts Charter Market?
Ans. Rising customer interest in maritime tourism drives the yacht charter market

5. Which are the worldwide major key players covered for the Global Yachts Charter Market report?
Ans. Boat International Media Ltd., Boatbound Inc., Burgess, Charter Yachts Australia, CharterWorld LLP, Dream Yacht Charter, Fairline Yacht.