Wilmington, Delaware, United States, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global yacht charter market was estimated to have acquired US$ 22.3 million in 2021. It is anticipated to register a 6.1% CAGR from 2022 to 2031, and by 2031, the market is likely to gain US$ 40.5 million.
The increasing number of superyachts with advanced amenities and services contributes to the overall growth of the market, attracting clients looking for the utmost in luxury and exclusivity.
Yacht charters are increasingly sought after for special occasions, including weddings, anniversaries, and corporate events. The market can benefit from catering to these specific needs with tailored services.
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Key Findings of Market Report
- On the basis of yacht type, the sailing yachts segment is anticipated to lead the yacht charter market, attributed to experiential travel, and scenic coastal exploration.
- In terms of motor yacht sub type, the classic yachts segment is expected to dominate the market growth, owing to nostalgic appeal, as well as luxurious craftsmanship.
- By yacht size, the small yachts segment is expected to accelerate the demand for yacht charters, attributed to intimacy and privacy, access to shallow waters, and cost effectiveness.
Trends for Yacht Charter Market
- The global tourism industry has been growing, with more people seeking unique and personalized travel experiences. Yacht charters offer a high end and customized way to explore various destinations.
- There is a growing preference for experiential travel over traditional vacations. Yacht charters provide a unique and immersive way to explore coastal regions, islands, and other picturesque locations.
- Investments in marinas, yacht clubs, and other yachting infrastructure contribute to the growth of the yacht charter industry. Improved facilities make it easier for charter companies to operate and for customers to access services.
- Online platforms that connect yacht charter companies with potential customers have become more prevalent. The platforms make it easier for individuals to find and book yacht charters, increasing accessibility to the market.
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Global Market for Yacht Charter: Regional Outlook
Various reasons are propelling the growth of the yacht charter market in different regions. The regions include,
North America
North America boasts a diverse range of coastal destinations, from the Caribbean to the Northeastern seaboard. The popularity of these destinations contributes to the demand for yacht charters as a way to explore and experience coastal beauty.
There is a growing trend in North America, as in many parts of the world, toward experiential travel. Yacht charters offer a unique and personalized way to explore the picturesque coastlines and islands of the region.
The region has well developed yachting infrastructure, including marinas, yacht clubs, and supporting services. The infrastructure facilitates the operation of yacht charter companies and enhances accessibility for customers.
Europe
Rich maritime history and seafaring traditions of Europe contribute to the popularity of yachting. Many regions have well established yachting infrastructure, including marinas and yacht clubs, supporting the growth of the market.
The trend of avoiding crowded cruise ships and seeking more private and exclusive travel experiences has been favorable for the yacht charter market in Europe.
Global Yacht Charter Market: Key Players
The following companies are well known participants in the global yacht charter market:
- Boat International Media Ltd.
- Boatbound Inc.
- Burgess
- Charter Yachts Australia
- CharterWorld LLP
- Dream Yacht Charter
- Fairline Yacht
- Fraser Yachts
- Incrediblue Ltd.
- Inter Yacht Charter
- Martello Yachting and Company
- Nicholson Yachts
- Northrop & Johnson
- Sailing Thailand Island Cruises Co., Ltd.
- Simpson Marine
- Super Yacht Logistics, LLC
- Thai Charters
- West Coast Marine Yacht Services Pvt Ltd.
- Yacht Charter Fleet
- Yachtico, Inc.
- Zizooboats GmbH
Recent Development:
- In 2022, Dream Yacht Worldwide unveiled its ambitious initiatives for the expansion of its already impressive fleet and elevate its skippered and crewed charter options.
- In 2020, Groupe Beneteau introduced an impressive lineup of 18 new yacht models, meticulously crafted to deliver optimal comfort, spacious interiors, a delightful on water experience, and the option for personalized customization.
Global Yacht Charter Market Segmentation
Yacht Type
-
- Sailing Yachts
- Motor Yachts
- Catamaran Yacht
Motor Yacht Sub Type
-
- Classic Yachts
- Open Yachts
- Others
Yacht Size
-
- Small
- Medium
- Large
Consumer Type
-
- Corporate
- Retail
- Others
Region
-
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa
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