Market Size of Yacht Charter Industry Valued at $11.40 Billion in 2022, Expected to Reach $20.2 Billion by 2032, Growing at a CAGR of 6.9%

According to a recent report published by Allied Market Research, titled, "Yacht Charter Market by Type, Size, and Application: Global Opportunity Analysis and Industry Forecast, 2023-2032", 𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐲𝐚𝐜𝐡𝐭 𝐜𝐡𝐚𝐫𝐭𝐞𝐫 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟏𝟏.𝟒𝟎 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟐, 𝐚𝐧𝐝 𝐢𝐬 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟐𝟎.𝟐 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐, 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟔.𝟗% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟑 𝐭𝐨 𝟐𝟎𝟑𝟐. By type, the motor segment was the highest revenue contributor in 2022, accounting for $8.9 billion, and is estimated to reach $15.4 billion by 2032, registering a CAGR of 6.6% during the forecast period. In 2022, the Europe region accounted the major market share of the market.

Europe dominates the market in terms of revenue, followed by Asia-Pacific, North America, and LAMEA. In Asia-Pacific, Japan dominated the yacht charter market in 2022, whereas rest of Asia-Pacific is expected to grow at a significant rate during the forecast period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/2888

The growth of the yacht charter market is driven by the increasing number of private islands on cruise itineraries, use of alternative source of energy & improvised purchasing power across the globe and increase in number of high-net-worth individuals.

Furthermore, the increase in the demand for leisure activities due to a rise in disposable income and hectic lifestyles. The ease of booking a yacht has led to a rise in the popularity of yacht vacations among the youth to celebrate events in luxury, which is estimated to boost the market growth. Natural calamities and high costs associated with yacht charter are the key restraining factors of this market. Moreover, increased involvement of intermediaries & hybrid business models, rapid changes in yacht infrastructure and yacht tourism are estimated to boost the demand for yachts charter in the upcoming years. In addition, the rising popularity of boats and the increasing preference for luxurious & large-sized yachts that can accommodate large groups will further propel the market growth in the forecast period.

Sailing yachts primarily use natural winds as force for propulsion. The single-hull design of the sailing yachts ensures a comfortable and steady voyage, even when facing demanding sea conditions, a crucial factor for sailors undertaking ocean crossings. These types of yachts provide generous interior space, enabling comfortable living quarters and amenities during extended journeys. The increasing fascination with multi-hulls is attributed to their capacity to harmonize performance and comfort, meeting the changing desires of contemporary sailors who prioritize efficiency, spaciousness, and thrilling sailing adventures.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/yacht-charter-market/purchase-options

𝐁𝐨𝐚𝐭𝐬𝐞𝐭𝐭𝐞𝐫, 𝐈𝐧𝐜., 𝐌𝐀𝐑𝐓𝐄𝐋𝐋𝐎 𝐘𝐀𝐂𝐇𝐓𝐈𝐍𝐆 & 𝐂𝐎𝐌𝐏𝐀𝐍𝐘, 𝐒𝐀𝐈𝐋𝐎𝐆𝐘 𝐒.𝐀., 𝐍𝐨𝐫𝐭𝐡𝐫𝐨𝐩 & 𝐉𝐨𝐡𝐧𝐬𝐨𝐧, 𝐈𝐨𝐧𝐢𝐚𝐧 𝐂𝐚𝐭𝐚𝐦𝐚𝐫𝐚𝐧𝐬, 𝐈𝐘𝐂, 𝐙𝐈𝐙𝐎𝐎𝐁𝐎𝐀𝐓𝐒 𝐆𝐦𝐛𝐇, 𝐘𝐚𝐜𝐡𝐭𝐢𝐜𝐨, 𝐈𝐧𝐜., 𝐁𝐨𝐚𝐭𝐣𝐮𝐦𝐩, 𝐒.𝐋., 𝐚𝐧𝐝 𝐖𝐞𝐬𝐭 𝐂𝐨𝐚𝐬𝐭 𝐌𝐚𝐫𝐢𝐧𝐞 𝐘𝐚𝐜𝐡𝐭 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐏𝐯𝐭. 𝐋𝐭𝐝., 𝐚𝐦𝐨𝐧𝐠 𝐨𝐭𝐡𝐞𝐫𝐬 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐲𝐚𝐜𝐡𝐭 𝐜𝐡𝐚𝐫𝐭𝐞𝐫 𝐦𝐚𝐫𝐤𝐞𝐭.

Furthermore, the yacht charter distinguishes between two type of renting i.e. bareboat yacht chartering and chartering with the skippers/ crew.

In addition, global yacht charter market is expected to remain influenced by eternal need for luxury and change in lifestyle. Moreover, introduction of new materials such as structural glass has allowed yacht architectures to reach new levels of sophistication.

Growth in number of yacht production, under construction projects is estimated to have a significant growth for the yacht charter market. Featuring helipads, swimming pools, saunas, hot tubs, and more yachts are epitome of luxury. Also, the key operating players in this business are adopting acquisition and expansion strategies to have their presence internationally.

The yacht charter market remained one of the few bright spots in an otherwise troubled global economy. With strong underlying drivers such as rise in ultra-net worth of individuals, surge in inclination toward recreational & expeditions, and rise in trend of yacht tourism, the market is expected to witness significant growth during the forecast period. At the same time, the sector is facing restraint i.e. high cost, and natural calamities.

Furthermore, the increase in the demand for leisure activities due to a rise in disposable income and hectic lifestyles also responsible for the growth of market. The ease of booking a yacht has led to a rise in the popularity of yacht vacations among the youth to celebrate events in luxury, which estimated to create an opportunity for the market growth.

Natural calamities and high cost associated with yacht charter are the key restraining factor of this market. Moreover, increased involvement of intermediaries & hybrid business models, rapid changes in yacht infrastructure and yacht tourism to boost demand for yachts charter in the upcoming years. In addition, the rising popularity of boats and the increasing preference for luxurious & large sized yachts that can accommodate large groups will further propel the market growth in future.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/2888

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

In 2022, by type, the Motorized type segment generated the highest revenue.

In 2022 by size, the medium segment was the highest revenue contributor.

In 2022, by application, the vacation/leisure segment was the highest revenue contributor.

In 2022, region-wise, Europe contributed the highest revenue, followed by Asia-Pacific, North America, and LAMEA.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

𝐌𝐚𝐫𝐢𝐧𝐞 𝐓𝐞𝐥𝐞𝐦𝐚𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 :
https://www.prnewswire.com/news-releases/marine-telematics-market-to-reach-30-0-mn-globally-by-2026-at-21-3-cagr-allied-market-research-300944855.html

𝐌𝐚𝐫𝐢𝐧𝐞 𝐃𝐢𝐞𝐬𝐞𝐥 𝐄𝐧𝐠𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 :
https://www.prnewswire.com/news-releases/marine-diesel-engine-market-to-accrue-14-8-bn-globally-by-2031-at-4-9-cagr-allied-market-research-301661340.html

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

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