DUBLIN--(BUSINESS WIRE)--The "Yacht Charter Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2020 to 2028" report has been added to ResearchAndMarkets.com's offering.
The global Yacht charter market was valued at US$ 10.91 Bn in 2019 witnessing a steady growth in the recent years.
However, with the onset of the COVID-19 pandemic, almost all operations in the yacht charter market were halted due to severe lockdown restrictions and lack of tourism. Thereby, the overall global yacht charter market witnessed a decline of about 85% in 2020, accounting to only US$ 1.63 Bn in terms of market value. However, with easing lockdown restrictions in most countries coupled with resumption of the overall tourism industry, the yacht charter market is expected to steady reach pre-COVID-19 levels by 2022. On account of the significant drop in 2020 and estimated quick recovery in 2021 and 2022, the global yacht charter market is expected to bounce back with a CAGR of 25.6% during the forecast period from 2020 to 2028.
The market is highly driven by rising inclination towards luxury cruising worldwide. This further complemented by consistently increasing number of high net worth individuals globally. In 2020, the number of high net worth individuals worldwide increased by nearly 9%, according to 2020 World Health Report by Capgemini. This represents a promising user base for yacht charter companies. With increasing interest in luxury cruising along with consistently increasing number of high net worth, especially in Asia Pacific, the yacht charter market is set to register robust growth over the forecast period.
Motor yachts segment led the overall yacht charter market in 2019. The segment contributed to over 70% of the total market value generated worldwide. Despite the exotic experience offered by sailing yachts, motor yachts are typically more preferred over the counterparts. This is primarily due to higher speed, power, space and luxury offered by motor yachts as compared to sailing yachts. Motor yachts have larger space for entertainment, bigger cabins and usable deck space. In addition, they are easier to operate as compared to sailing boats. Thus, people with limited sailing experience prefer chartering motor yachts. Other features offered by motor yachts include sophisticated communication & navigation systems, electronic entertainment systems and amenities.
Europe led the overall yacht charter market worldwide with market share, in terms of value, of over 50% in 2019. The European market is principally governed by Mediterranean countries including Greece, Croatia, Italy, Spain and France among others in the region. In addition, the U.K., Germany and some of the Nordic countries too form major markets for yacht chartering business. The market growth in Europe is primarily supported by favorable climate and spectacular natural beauty. In addition, the region is home to the 2nd highest number of high net worth individuals worldwide. This has further ensured substantial demand for yacht charter services in the region.
Key questions answered in this report
- What was the market size of yacht charter in 2019 and forecast up to 2028?
- Which is the largest regional market for yacht charter?
- What are the top destinations for yacht charter?
- What are the key market trends observed in the yacht charter market?
- Which is the most promising yacht type and yacht size in yacht charter market?
- Which is the most popular contract type preferred worldwide?
- Who are the key players leading the market?
- What are the key strategies adopted by the leading players in market?
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
3.1 Introduction
3.1.1 Global Yacht Charter Market Value, 2018 - 2028, (US$ Bn)
3.2 Market Drivers
3.3 Market Growth Inhibitors
3.3.1 Impact Analysis of Drivers and Restraints
3.4 Key Market Trends and Future Outlook
3.5 Attractive Investment Proposition, by Geography, 2019
3.6 Competitive Analysis
Chapter 4 Global Yacht Charter Market Analysis, by Yacht Type, 2018 - 2028 (US$ Bn)
Chapter 5 Global Yacht Charter Market Analysis, by Yacht Size, 2018 - 2028 (US$ Bn)
Chapter 6 Global Yacht Charter Market Analysis, by Contract Type, 2018 - 2028 (US$ Bn)
Chapter 7 North America Yacht Charter Market Analysis, 2018 - 2028 (US$ Bn)
Chapter 8 Europe Yacht Charter Market Analysis, 2018 - 2028 (US$ Bn)
Chapter 9 Asia Pacific Yacht Charter Market Analysis, 2018 - 2028 (US$ Bn)
Chapter 10 Rest of the World (RoW) Yacht Charter Market Analysis, 2018 - 2028 (US$ Bn)
Chapter 11 Company Profiles
11.1 Boat International Media Ltd.
11.2 Boatbookings.com
11.3 Camper & Nicholsons International Ltd.
11.4 Charterworld Ltd.
11.5 Collaborative Boating, Inc.
11.6 Cosmos Yachting Ltd.
11.7 Dream YC SARL
11.8 Fairline Yachts Ltd.
11.9 Fraser Yachts
11.10 Kiriacoulis Mediterranean Cruises Shipping SA
11.11 Le Boat
11.12 Nigel Burgess Ltd.
11.13 Northrop & Johnson, Inc.
11.14 Sailogy SA
11.15 Sunsail, Inc.
11.16 The Moorings
11.17 Yachtico, Inc.
11.18 Zizooboats GmbH
For more information about this report visit https://www.researchandmarkets.com/r/gn914x
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