U.S. 60-80 Feet Motorized Yacht Charter Market Analysis, Growth By Top Companies, Trends By Types And Forecast To 2022-2031

According to a recent report published by Allied Market Research, titled, "U.S. 60-80 Feet Motorized Yacht Charter Market by Application: Opportunity Analysis and Industry Forecast, 2021-2030," the U.S. 60-80 feet motorized yacht charter market was valued at $215.9 million in 2020, and is projected to reach $803.7 million by 2030, registering a CAGR of 14.0% from 2021 to 2030.

Yacht chartering is the process of using yachts to travel across sea to perform recreational activities on water. It is a key activity in the area of service that is connected to the recreational boating. Changes in yacht infrastructure for better performance further creates potential opportunity for the growth of the yacht charter market during the assessment period. Moreover, to reduce the production cost, manufacturers are shifting toward the utilization of modular construction method for yacht building.

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 Covid-19 Impact Analysis

The COVID-19 pandemic outbreak has caused widespread economic downturn, as several countries imposed strict lockdowns to contain the infection.
This has affected diverse industries; manufacturing is one of the severely impacted sectors. For instance, a major player, Princess Yachts reported that sales were 50% lower in April 2020 than in April 2019.
There has been significant impact on supply chains globally. Boats and engine manufacturing companies have faced huge losses during the first & second quarter of 2020 due to disrupted supply chains and production schedules.
The rapid spread of COVID-19 in the U.S., Europe, and Asian economies resulted in nationwide lockdown and a temporary halt of production facilities to prevent further spread.
With increasing number of cases, consumers opted to spend on necessities and food supply compared to recreational & leisure activities in the highly impacted regions, including Europe and Asia-Pacific.
The North American yacht chartering market witnessed a slight dip in the first quarter of 2020, owing to the pandemic's sudden outbreak. Companies having reservations either delayed or cancelled their possible trips, due to imposed government restrictions to retain the spread of COVID-19.

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 The key players profiled in the U.S. 60-80 feet motorized yacht charter market are Anacortes Yacht Charters, Boatsetter, Charles Charters, GetMyBoat, Metro Yacht Charters of New York, Northrop & Johnson, Ritzy Charters, Sailo, Seattle Yachts, Tranquilisea Yachting, and Yachtico Inc

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https://www.alliedmarketresearch.com/us-60-80-feet-motorized-yacht-charter-market-A14325

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