The new report by Expert Market Research titled, ‘Global Yatch Charter Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global yatch charter market, assessing the market based on its segments like sizes, types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 15.71 Billion
- Forecast CAGR (2022-2027): 20%
- Forecast Market Size (2027): USD 31.32 Billion
The global market for yatch charter is driven by the growing popularity of yatch sailing destinations, favourable government policies aimed towards bolstering marine tourism, increasing inclination of working-class population towards sea exploration in order to take time for rejuvenation from daily stress, and rising standards of living. In addition, the market is anticipated to be bolstered by the growing efforts by the major yatch charter firms towards incorporating advanced and luxurious fleets. This factor is likely to attract significant amount of tourists in the business. Geographically, Europe accounts for a significant share in the market owing to the presence of sailing enthusiasts and strong foothold of major yatch manufacturers in the region.
Industry Definition and Major Segments
Yatch charter is defined as the practice of leasing a yatch to the clients for business, vacation, exploration, or leisure purposes. Yatch charter generally provides the facility of crew and captain in order to take complete care of client’s comfort. The process of chartering also involves the creation of an itinerary by the owners and companies, which suits the travel needs of the client.
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On the basis of size, the market can be categorised into:
- Small (Up to 30m)
- Medium (30m-50m)
- Large (Over 50m)
Based on type, the market has been segmented into:
- Motor Yacht
- Sailing Yacht
- Other Yacht
The major applications included in the market are as follows:
- Vacation/ Leisure
- Sailing
- Others
The regional markets for yatch charter include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The technological advancements in the yatch charter industry, such as the emergence of online booking system, which provides convenience to the clients, are likely to be the key trends in the market. With this system, a client can simply click on the preferred package and make the payment without being physically present on the site. The increasing investments in yatch charter firms are likely to be other major trends in the market. These investments are often utilised in the advancement of yatch by incorporating specialised features. This factor will further boost the popularity of yatch charting activities in the forecast period.
Key Market Players
The major players in the market are Charter Yachts Australia, Princess Yachts Limited, Sailogy S.A., Yachtico Inc., and Northrop & Johnson Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
