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Yacht Charter Market Report Just Published By Credence Research

According to a new market research report published by Credence Research “Yacht Charter Market (Yacht Type – Sailing Yacht and Motor Yacht; Yacht Size – Small (Upto 30m), Medium (30 to 60m) and Large (Above 60m); Contract Type – Bareboat Yacht Charter and Crewed Yacht Charter) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global yacht charter market is set to expand with a CAGR of 5.4% throughout the forecast period to reach US$ 15.86 Bn by 2026.

Browse here for full report: https://www.credenceresearch.com/report/yacht-charter-market

Consistently growing number of high net worth individuals to drive the global yacht charter market

Yacht charter market was valued at US$ 9.85 Bn in 2017 and set to grow with a CAGR of 5.4% throughout the forecast period from 2018 to 2026. 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 2017, the number of high net worth individuals worldwide increased by nearly 8% to a record-breaking 16.5 Mn, according to 2017 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.

Market Synopsis

Yacht Charter Market

Motor yachts segment to lead the market throughout the forecast period

Motor yachts segment led the overall yacht charter market in 2017. The segment contributed to over 73% 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.

Yacht Charter Market

Europe dominates the market with more than 50% market share; Asia Pacific to emerge as the next promising market

Europe led the overall yacht charter market worldwide with market share, in terms of value, of nearly 54% in 2017. 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.

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Asia Pacific is set to register the fastest growth in yacht charter over the forecast period. The market here is majorly governed by steadily increasing discretionary income of the people in the region. Similarly, growing interest of people in luxury cruising is another important factor supporting the market growth. Southeast Asia has witnessed profound growth in yacht charter market since the past few years. Apart from the regional tourists, number of Western tourists too has increased dramatically over the period. One of the most prominent factors driving yacht charter business in Asia Pacific is relatively low cost of cruising as compared to Western destinations. In addition, improving infrastructure plays a prominent role in supporting the regional yacht charter market growth.

Yacht Charter Market

Geographic expansion and service enhancement to remain the key strategies

The overall yacht charter market is quite consolidated in nature with major companies such as TUI Marine (including Sunsail, Le boat and Footloose), Dream Yacht Charter and Kiriacoulis among others holding the majority of market share. These companies primarily have their operations in Europe and North America having strong yacht charter sector. In case of Asia Pacific, the region is home to large number of regional yacht charter companies serving limited number of countries, making the market quite fragmented in the region. This is attributed to low popularity of yacht chartering in the current scenario.

However, with growing popularity of yacht chartering in Asia Pacific, companies are taking efforts to increase their presence in the region. For instance, in February 2018, Fraser Yachts announced the opening of its new offices in Indonesia, Hong Kong, Thailand, Vietnam and the Philippines. The expansion was made taking into consideration the rapid growth observed in yacht chartering sector of the region. Apart from geographic expansion, companies also focus on increasing their vacation packages for multiple destinations.

Another prominent strategy adopted by yacht charter companies is continual efforts towards improving the yachting experience for their users. With increasing popularity of yacht chartering, users are now more inclined towards luxury cruising that provides numerous facilities and superior experience. As a result, yacht charter companies are investing on improving facilities such as online booking, internet connectivity and improved hospitality onboard.

Yacht Charter Market

Historical & Forecast Period

2016 – Historical Year

2017 – Base Year

2018-2026 – Forecast Period

This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments are calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The yacht charter market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global yacht charter market based on yacht type, yacht size, contract type and geography. Key segments covered in the report are as follows:

  • Yacht Type Segment (2016–2026; US$ Bn)
    • Sailing Yacht
    • Motor Yacht
  • Yacht Size Segment (2016–2026; US$ Bn)
    • Small (Upto 30 meters)
    • Medium (30 to 60 meters)
    • Large (More than 60 meters)
  • Contract Type Segment (2016–2026; US$ Bn)
    • Bareboat Charter
    • Crewed Charter
  • Geography Segment (2016–2026; US$ Bn)
    • North America
      • United States
      • Canada
      • Caribbean Islands
    • Europe
      • United Kingdom
      • France
      • Italy
      • Spain
      • Greece
      • Croatia
      • Rest of Europe
    • Asia Pacific (APAC)
      • China
      • Japan
      • Southeast Asia
      • India
      • Australasia
      • Rest of APAC
    • Rest of the World (RoW)
      • Middle East and Africa (MEA)
      • Latin America

Yacht Charter Market

Key questions answered in this report

  • What was the market size of yacht charter in 2017 and forecast up to 2026?
  • 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?

Unique data points of this report

  • Statistics on high net worth individuals (HNWI) and ultra-high net worth individuals (UHNWI) per region
  • The market size for yacht charter services has been calculated on concrete parameters including distribution of HNWI & UHNWI worldwide, luxury goods & services industry scenario and regional yacht industry
  • In addition, dynamics in tourism industry across different geographies have been equally considered for estimating the growth rate and forecast market size
  • Attractive investment proposition for yacht size segment as well as geography
  • Comparative scenario for all the segments for years 2017 (actual) and 2026 (forecast)

Also you can request us for sample in pdf with more details and graph:https://www.credenceresearch.com/sample-request/59103

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