London, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Rampant expansion of marine tourism, and consistently growing consumer proclivity for leisure activities collectively drive the growth of global yacht charter market. Increasing proclivity for vacationing at exotic destinations is predominantly driving the growth of yacht charter market. The flourishing trend of marine tourism, and group vacationing, especially among the young consumer cluster will work to the advantage of global yacht charter market. Fairfield Market Research in its recently released report anticipates an excellent growth outlook for the market during 2021 - 2027. Up from around US$8.3 Bn attained in 2021, the market value is likely to rise up to US$25.5 Bn toward the end of 2027. The report highlights growing prominence of medium- and large-sized yachts among the leading companies in yacht charter market. Growing influence of social media, and an increasing number of groups of exotic trippers, and boaters’ communities will further accelerate the growth of yacht charter market.
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Key Research Insights
- Global yacht charter market expects a whopping 22.8% CAGR during 2021 - 2027
- Motor yachts continue to be the most sought-after category, poised to demonstrate nearly 24.8% growth through 2027 end
- Europe will remain dominant throughout the forecast period with an estimated share of over 48% by 2027 end
Insights into Segmental Analysis
With more than 42% share in overall market revenue recorded in 2020, motor yacht is expected to lead the pack in global yacht charter market throughout the forecast period, followed by sailing yacht. The report highlights the fact that unlike a sailing yacht, the motor yacht powers through sea elements for covering larger distances in lesser time. With increasing tourists seeking explorations of most of the coastlines, motor yachts are likely to continue receiving an impetus in the long run. Growing fondness for leisure activities like spending family time on deck space, basking in the sun, and dining al fresco, motor yachts will continue to gain preference over other yacht types. Growing market value of luxury motor yachts will keep this yacht type ahead of the sailing type of yachts.
Key Report Highlights
- Luxury yachts become a trend as yacht charter companies expand fleets equipped with intelligent and smart solutions for entertainment and safety
- The investments of both the yacht builders, and chartering service providers are concentrated in the incorporation of luxurious features
- In addition to the expensive basic price point, yacht charter market will continue to face challenges in long term in the form of maintenance, redesigning and refitting, and routine annual servicing
Insights into Regional Analysis
The report reveals that the European yacht charter market will remain at the forefront, majorly attributing to the region’s favourable policy framework. The sailing activity remains integral to the tourism experience of European consumers. In line with the mounting number of marine tourists across the region, and strong presence of industry leaders, the market here surpassed the US$2 Bn mark in the year 2020, accounting for more than 48% market share. Turkey, and Italy remain the leading markets across Europe and the report attributes their primacy to the remarkably high number of online yacht charter collaborations. With the presence of the premium consumer segment, and growing number of licenses issued for watercraft, Europe is expected to remain the most lucrative yacht charter market throughout the period of projection. On the other hand, Asia Pacific has been developing an attractive market over the recent past. The region is expected to exhibit around 24% growth during the period of projection. The expanding population of high-net-worth individuals has been showcasing growing interest in
marine tourism and the trend of picking long-range yachts is especially prominent across the key southeast Asian markets.
Key Market Players in Global Yacht Charter Landscape
Fraser Yacht, Charter Yachts Australia, Boatbound Inc., CharterWorld LLP, Mertello Fairline Yacht, Thai Charters, Dream Yacht Charter, Incrediblue Ltd., Burgess, Boat International Media Ltd., Yachtico, Inc., Inter Yacht Charter, Nicholson Yachts, Simpson Marine, Northrop & Johnson, Sailing Thailand Island Cruises Co., Ltd., Yachting Company, Super Yacht Logistics, LLC., Yacht Charter Fleet, West Coast Marine Yacht Service Pvt Ltd., Zizooboats GmbH
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2020 | |
| Forecast Year | 2021 - 2027 | |
| Estimated Market Size in 2021 | US$8.3 Bn | |
| Estimated Market Size in 2027 | US$25.5 Bn | |
| CAGR | 22.8 % | |
| Key Players | Fraser Yacht, Charter Yachts Australia, Boatbound Inc., CharterWorld LLP, Mertello Fairline Yacht, Thai Charters, Dream Yacht Charter, Incrediblue Ltd., Burgess, Boat International Media Ltd., Yachtico, Inc., Inter Yacht Charter, Nicholson Yachts, Simpson Marine, Northrop & Johnson, Sailing Thailand Island Cruises Co., Ltd., Yachting Company, Super Yacht Logistics, LLC., Yacht Charter Fleet, West Coast Marine Yacht Service Pvt Ltd., Zizooboats GmbH | |
Market Segmentation
Yacht Type Coverage
- Sailing
- Motor
- Catamaran
Yacht Sub – Type Coverage
- Classic
- Open
- Large
Yacht Size Coverage
- Small
- Medium
- Large
Yacht Usage Coverage
- Corporate
- Retail
- Others
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Leading Companies
- Boatsetter
- Burgess
- Charter Yachts Australia
- CharterWorld LLP
- Dream Yachts Charter
- Fraser Yachts (Marine Max Group Subsidiary)
- Nautal
- Zizooboats GmbH
- Yachtico, Inc.
- Simpson Yachts Charter
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Technology-wise Analysis
- Application-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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