Press release
Yacht Charter Industry to Achieve $28 Billion Growth by 2029
Yacht Charter
How Will the Yacht Charter Market Grow by 2025 in Terms of Size and Growth?
Strong growth has been observed in the yacht charter market size over the past few years. The anticipated increase is significant - from $16.56 billion in 2024 to $18.2 billion in 2025, with a compound annual growth rate (CAGR) of 9.9%. Factors contributing to this growth during the historic period include seasonal demand and tourism trends, amendments in yachting industry regulations, rising environmental consciousness in yacht operations, the rise of charter brokerages, and the allure of global tourism destinations.
What Are the Estimated Growth Rates for the Yacht Charter Industry Through 2029?
In the coming years, the yacht charter market size is predicted to undergo swift expansion. The growth rate is anticipated to reach $28 billion by 2029, featuring a compound annual growth rate (CAGR) of 11.4%. The predicted growth during this period could be due to flexible and adaptive charter laws, better charter booking systems, the impact of social media and influencers, luxurious living, and high-end experiences, and the growth of new markets. In the forecasted period, shared charters and group travel, increased experiential tourism, personalized services, technological advancements in yachts, and the influence of social media on travel decisions are expected to be among the major trends.
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What Are the Strategic Drivers Boosting Yacht Charter Market Performance?
The yacht charter market is anticipated to experience significant growth due to the increasing popularity of lavish marine tourism. Marine tourism involves travel activities centered around the marine environment, away from an individual's usual place of residence. Yacht charters are popular for providing a luxurious, immersive experience in marine tourism. As an illustration, the Anadolu Agency, a news agency based in Turkey, reported in December 2023 that 95 cruise ships docked at Turkish ports in November 2023, marking a 39.7% annual growth. Consequently, the rising demand for opulent marine tourism is fueling the expansion of the yacht charter market.
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What Are the Segments in the Yacht Charter Market?
The yacht charter market covered in this report is segmented -
1) By Type: Motorized Yacht, Sailing Yacht, Other Types
2) By Contract: Bareboat Charter, Crewed Charter
3) By Size: Large, Medium, Small
4) By Application: Vacation Or Leisure, Sailing, Other Applications
Subsegments:
1) By Motorized Yacht: Power Catamarans, Motor Sailer Yachts, Luxury Motor Yachts
2) By Sailing Yacht: Mono-Hull Sailing Yachts, Multi-Hull Sailing Yachts
3) By Other Types: Gulets, Houseboats, Hybrid Yachts
What Are the Key Adoption Trends in the Yacht Charter Market?
One significant trend gaining traction in the yacht charter market is product innovations. Many leading firms participating in the yacht charter market are zeroing in on creating innovative new products in a bid to solidify their market standing. For example, in April 2022, Sunseeker, a British luxury motor yacht manufacturer, unveiled the 30m Sunseeker 100, initiating a fresh chapter in flybridge design and functionality for the British yard. It was a first-of-its-kind 29.85-meter Sunseeker, boasting distinctive entertainment aspects at the fore and the extensive flybridge with full walk-around access from bow to stern, one of the standout entertainment areas that characterises the 100 Yacht.
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Which Companies Lead the Competitive Landscape of the Yacht Charter Industry?
Major companies operating in the yacht charter market include Burgess Yachts Limited, Dream Yacht Worldwide, The Moorings, Camper & Nicholsons International Ltd., Princess Yacht Charter, Boatsetter, West Coast Marine Yacht Services, Super Yacht Logistics Ltd., Sailogy S.A., Charterworld Ltd., Martello Yachting, Yachtico Inc., Northrop & Johnson, Barefoot Yacht Charters, Fraser Yachts, Incrediblue Ltd., Orvas Yachting, Partners International, Croatia Charter, Windward Islands Yachting Company, Bluewater Yachting, Horizon Yacht Charters, Navigare Yachting BVI, Sunsail Limited, Yacht Getaways, TUI Marine Limited, Kiriacoulis Mediterranean, Luxury Yacht Group, Edmiston, Ocean Independence, International Yacht Corporation, YPI Group, Nicholson Yacht Charters & Services, Zizooboats GmbH
Where Are the Key Yacht Charter Market Opportunities by Region?
Europe was the largest region in the yacht charter market in 2024. North America is expected to be the fastest growing region in the forecast period. The regions covered in the yacht charter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Speak With Our Expert:
Saumya Sahay,
Americas: +1 310-496-7795,
Asia: +44 7882 955267 & +91 8897263534,
Europe: +44 7882 955267,
Email: saumyas@tbrc.info
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