DUBLIN--(BUSINESS WIRE)--The "Yacht Charter Market by Type, by Size, Medium, large and application: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global yacht charter market was valued at $15.2 billion in 2018, and is projected to reach $25.16 billion by 2026, registering a CAGR of 6.3% from 2019 to 2026.
By type, the motor segment was the highest revenue contributor in 2018, accounting for $10.76 billion, and is estimated to reach $18.65 billion by 2026, registering a CAGR of 7.2% during the forecast period. In 2018, the Europe region accounted the major market share of the yacht charter 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 2018, whereas the rest of Asia-Pacific is expectedto grow at a significant rate during the forecast period.
The changes in the yacht infrastructure for better performance further creates an opportunity for augmentation of the market over the assessment period. Moreover, to reduce the production cost, manufacturers are shifting toward the utilization of modular construction method for yacht building. Also, the average size of large yachts increased from 47.8m in 2013 to 51.6m in 2017.
In addition, people across the globe are accepting the changing constructed based yachts by breaking off from the traditional Caribbean and Mediterranean waters for sailing in Asia-Pacific, the Middle East, and Antarctic. This shift coupled with the development in yacht infrastructure has caused the growth of the yacht market as it is used as an attraction factor for people across the globe.
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. For instance, the boat rental Spain based company Nautal has raised EUR 1 million in funding to consolidate its market position in Spain and also planning to expand in U.S.
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.
Additionally, 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 are boosting to the growth of global yacht charter market. 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.
The key players analyzed in the yacht charter market report include Sailogy S.A., Yachtico Inc., Zizooboats GmbH, Fraser Yacht, Boatsetter, Northrop & Johnson, Nautal, Martello Yachting And Company, Princess Yacht limited and Charter Yachts Australia.
- In 2018, by type, the Motorized type segment generated the highest revenue.
- In 2018, by size, the medium segment was the highest revenue contributor.
- In 2018, by application, the vacation/leisure segment was the highest revenue contributor.
- In 2018, region-wise, Europe contributed the highest revenue, followed by Asia-Pacific, North America, and LAMEA.
Key Topics Covered
Chapter 1: Introduction
1.1. Report Description
1.1.1. Key Benefits for Stakeholders
1.2. Key Market Segments
1.3. Research Methodology
Chapter 2: Executive Summary
2.1. CXO Perspective
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pocket
3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
3.4. Top Player Positioning
3.5. Market Dynamics
18.104.22.168. Increase in Number of Private Islands on Cruise Itineraries
22.214.171.124. Shift Towards Alternative Sources of Energy and Rising Disposable Income Coupled with Purchasing Power
126.96.36.199. Increase in Number of High Net Worth Individuals to Augment Market Growth
188.8.131.52. Natural Calamities to Pose Significant Challenge to the Growing Market
184.108.40.206. High Cost Associated with Yacht Charter
220.127.116.11. Increased Involvement of Intermediaries & Hybrid Business Models
18.104.22.168. Change in Yacht Infrastructure
22.214.171.124. Yacht Tourism to Boost Demand for Yachts Charter in the Upcoming Years
Chapter 4: Yacht Charter Market, by Size
4.2. Small (Up to 30M)
4.3. Medium (30M-50M)
4.4. Large (Over 50M)
Chapter 5: Yacht Charter Market, by Type
5.2. Sailing Yacht
5.3. Motor Yacht
5.4. Other Yacht
Chapter 6: Yacht Charter Market, by Application
Chapter 7: Yacht Charter Market, by Region
7.2. North America
Chapter 8: Company Profiles
8.2. Charter Yachts Australia
8.3. Fraser Yacht
8.4. Martello Yachting & Company
8.6. Princess Yachts Limited
8.7. Sailogy SA
8.8. Northrop & Johnson
8.9. Yachtico Inc.
8.10. Zizooboats GmbH
For more information about this report visit https://www.researchandmarkets.com/r/rvyvdu