What is Yacht Charter Market?
Yacht chartering is becoming more popular for vacationing and enjoying holidays in coastal cities and islands. Over the last few years, demand for cabin charters has been growing for sailing vacations among the people who don’t have skills for bareboat charter or want to board a crewed luxury yacht. Further, the increasing expenditure of consumers and growing preference for recreational boating in the United States and European countries will create significant opportunities for the yacht charter market.
Highlights from Yacht Charter Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Click&Boat (France), Dream Yacht Charter (United States), Fraser (Monaco), The Moorings (United States), Yachtico (united States), Zizooboats Corp. (United States), Sunsail Limited (United States), Princess Yacht Charter (United Kingdom), Anacortes Yacht Charter (United States), Mala Yachts Rental (United Arab Emirates), FairWind Charters (New Zealand), Sail Play Dine Yacht Charters (United States), Boatsetter, Inc. (United States), IYC (United States) and Top Sailing Charter (Spain) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Yacht Charter market throughout the forecasted period.
Click&Boat (France), Dream Yacht Charter (United States), Fraser (Monaco), The Moorings (United States), Yachtico (united States), Zizooboats Corp. (United States), Sunsail Limited (United States), Princess Yacht Charter (United Kingdom), Anacortes Yacht Charter (United States), Mala Yachts Rental (United Arab Emirates), FairWind Charters (New Zealand), Sail Play Dine Yacht Charters (United States), Boatsetter, Inc. (United States), IYC (United States) and Top Sailing Charter (Spain) are some of the key players profiled in the study. Yacht Charter Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Personal and Business |
Type | Large Yachts or Luxury Sailing Yachts, Commercial Yachts and Private Yachts |
End Users | Family,Individual,Couple,Groups |
On the basis of geography, the market of Yacht Charter has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emerging Trend of Catamarans for Entertaining Large Groups, Business Meetings, or Corporate Events
Market Growth Drivers:
Increasing Disposable Income of People and High Growth of Yacht Chartering for Vacationing and Leisure Activities and High Adoption of Motor Yachts Due to Availability of Spacious Accommodation, Plenty of Rooms, and Larger Outside Deck Areas
Challenges:
High Cost and Difficulties in the Moorings of Some Types of Yachts
Restraints:
Insurance Implications to Put Yachts into Charter and High Cost of Premiums and Maintenance of Yachts May Affect the Growth of Market
Opportunities:
Growing Popularity of the Yacht Charter in the European Countries like Italy, Greece, Spain, and the Mediterranean Coast and Significant Incline in Recreational Boating in the United States Will Create Noteworthy Opportunities
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Yachts Charter Service Providers, Yacht Manufacturers, Venture Capitalists and Private Equity Firms, Regulatory Bodies, End-users and Others
Market Leaders & Development Strategies
In 2020, Click&Boat, a leader in boat rental announced the acquisition of Nautal with a new office in Barcelona. The acquisition will help Click&Boat to develop and expand its business in the European countries and provide their boats for rent. The transaction also offers significant growth of the Click&Boat platform and the perfect strategy to win clients.
In May 2022, The New Zealand Marine Industry Association announced the updated yachting regulations that will come into play from August. According to the updated regulations, foreign-flagged superyachts and cruises of countries named Australia, Fiji, and French Polynesia for chartering and cruising. However, Australia, Fiji, French Polynesia, and New Zealand coordinated to introduce new Temporary Import Entry (TIE) rules, which will come into force after easing pandemic restrictions.