The global yacht charter market size reached US$ 7.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8% during 2023-2028.
Yacht charter refers to the process of renting a motor- or sail-driven marine vessel for recreational or commercial purposes. These services are typically used for traveling to various coastal areas without owning a yacht. These privately or company-owned yachts that are offered on a rental basis consist of luxury facilities within the vessel, such as professional crews, captains, and online or on-call support. Several charter companies also furnish yachts and provide a detailed itinerary based on the requirements of their clients. As a result, they find immense applications in luxury marine tourism and recreational boating.
Yacht Charter Market Trends:
The market is primarily driven by significant growth in the marine tourism sector. Along with this, the rising preference for personalized services in tourism activities is providing an impetus to the market. In line with this, the increasing participation of the masses in recreational and competitive boating activities across the globe is providing a thrust to the demand for yacht charters. Moreover, the inflating per capita income levels and the growing inclination toward luxury trips across exotic locations are favorably impacting the market. Besides this, numerous key players are offering online services for yacht chartering to their customers, which are gaining widespread prominence among individuals. Besides this, continual improvements in yacht infrastructure, including the adoption of hybrid business models, are further creating a positive outlook for the market on the global level. Some of the other factors that are contributing to the market include the escalating popularity of fishing and water sports and the increasing usage of renewable energy as the primary fuel in various marine vehicles, including yachts, due to an enhanced focus on sustainable development among the masses.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global yacht chartermarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, length and contract type.
Breakup by Type:
Breakup by Length:
Up To 20 Ft
20 To 50 Ft
Above 50 Ft
Breakup by Contract Type:
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Boat International Media Ltd, Boatsetter Inc., Kiriacoulis Mediterranean, MarineMax Inc, Martello Yachting & Company, Nautal (Click&Boat), OceanBlue Logistics Limited, Sunsail Limited (TUI Group), Sunseeker International Ltd., The Moorings, YACHTICO INC. and Zizooboats GmbH.
Base Year of the Analysis
Type, Length, Contract Type, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Boat International Media Ltd, Boatsetter Inc., Kiriacoulis Mediterranean, MarineMax Inc, Martello Yachting & Company, Nautal (Click&Boat), OceanBlue Logistics Limited, Sunsail Limited (TUI Group), Sunseeker International Ltd., The Moorings, YACHTICO INC. and Zizooboats GmbH
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Key Questions Answered in This Report
The global yacht charter market was valued at US$ 7.9 Billion in 2022.
We expect the global yacht charter market to exhibit a CAGR of 8% during 2023-2028.
The rising consumer inclination towards personalized services in tourism activities and luxury trips across exotic locations is primarily driving the global yacht charter market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in various recreational activities, thereby negatively impacting the global market for yacht charters.
Based on the type, the global yacht charter market can be categorized into motor yacht and sailing yacht. Currently, motor yacht accounts for the majority of the global market share.
Based on the length, the global yacht charter market has been segregated into up to 20 ft, 20 to 50 ft, and above 50 ft. Among these, 20 to 50 ft currently holds the largest market share.
Based on the contract type, the global yacht charter market can be bifurcated into bareboat charter and crewed charter. Currently, crewed charter exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global yacht charter market include Boat International Media Ltd, Boatsetter Inc., Kiriacoulis Mediterranean, MarineMax Inc, Martello Yachting & Company, Nautal (Click&Boat), OceanBlue Logistics Limited, Sunsail Limited (TUI Group), Sunseeker International Ltd., The Moorings, YACHTICO INC., and Zizooboats GmbH.
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