Yacht Charter Market to Generate $ 20202.5 million, Globally, by 2032 at 6.9% CAGR: Allied Market Research

The global yacht charters market has witnessed growth due to rise in water sports and recreation activities along with surge in number of private islands on cruise itineraries.

PORTLAND, Ore., Jan. 8, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Yacht Charter Market by Type (Motorized yacht, Sailing Yacht and Others), Size {(Small (up to 30m), Medium (30m-50m), large (over 50m)}, and Application (Vacation/Leisure, Sailing and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global yacht charter market size was valued at $ 11405.2 million in 2022 and is projected to reach $ 20202.5 million by 2032, registering a CAGR of 6.9% from 2023 to 2032.

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(We are providing yacht charter industry report as per your research requirement, including the Latest Industry Insight's Evolution, Potential and Russia-Ukraine War Impact Analysis)

    --  116 - Tables
    --  45 - Charts
    --  255 - Pages

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Prime determinants of growth

Market expansion is being propelled by various factors such as growth of water sports and recreation activities and increase in number of private islands on cruise itineraries. However, the high cost associated with yacht charter and the weather and safety concerns hamper the growth of the market. Moreover, increased involvement of intermediaries & hybrid business models and a change in yacht infrastructure are expected to provide opportunities for market growth during the forecast period.

Report Coverage and Details:

     
              Report Coverage 
     
              Details



     Forecast Period            
     2023-2032



     Base Year                                                                 2022



     Market Size in 2022                        
            $
             11405.2 million



     Market Size in 2035                        
            $
             20202.5 million



     CAGR                                                                     6.9 %



     No. of Pages in Report                                                     255



     Segments covered           
     Size, Type, Application, and Region.



     Drivers                      Growth of water sports and recreation activities.

                                   Increase in number of private islands on cruise
                                    itineraries.



     Opportunities                Weather and safety concerns associated with yacht
                                    charter.

                                   Increased involvement of intermediaries & hybrid
                                    business models.



     Restraints                 
     High cost associated with yacht charter.

                                   Weather and safety concerns associated with yacht
                                    charter.

The Small (Upto 30m) segment to maintain its leadership status throughout the forecast period

By size, the small (upto 30m) segment held the highest market share in 2022, accounting for more than two-fifth of the global yacht charter revenue and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 7.3% from 2023 to 2032, owing to the water sports enthusiasm.

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The motor yacht segment to maintain its leadership status throughout the forecast period

By type, the motor yacht segment held the highest market share in 2022, accounting for more than three fourth of the global yacht charter market.

The Vacation/ Leisure segment to maintain its lead position during the forecast period

By application, the Vacation/ Leisure segment accounted for the largest share in 2022, contributing to nearly half of the global Yacht charters Market revenue, and is estimated to maintain its leadership status throughout the forecast period.

Europe to maintain its dominance by 2032

By region, Europe held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global Yacht charters Market revenue. However, the Asia-Pacific is expected to witness the fastest CAGR of 7.9% from 2023 to 2032.

Key Developments in the Yacht Charter Industry:

    --  In October 2023, IYC, the yacht brokerage firm, initiated a new venture
        into the Middle East by establishing its inaugural branch in Dubai. This
        expansion is a result of a collaboration with Vision Investments
        Limited, a subsidiary of Al Ameeri Group Holding, marking IYC's
        fifteenth global location.
    --  In September 2022, the watercraft rental platform Boatsetter secured a
        funding of $70 million, aiming to transform into the "Airbnb of boats"
        with a goal to feature 50,000 listings in 700 global locations. This
        funding demonstrates Boatsetter's commitment to expanding its presence
        and offerings in the yacht charter market.

Key Highlights of the Report:

    --  The report presents a comprehensive analysis of the truck yacht charter
        market, offering detailed insights into market dynamics, trends, and key
        players.
    --  The yacht charter market share has been thoroughly examined from 2022 to
        2032, providing a comprehensive understanding of the industry's growth
        trajectory.
    --  The research study includes the latest developments in the yacht charter
        market, keeping stakeholders informed about emerging trends and
        innovations.
    --  Top companies operating in the industry have been profiled in the
        research study, offering a detailed overview of their strategies, market
        presence, and contributions to the yacht charter sector.
    --  The research study encompasses various segments and regions, providing a
        holistic view of the market landscape and helping stakeholders make
        informed decisions.

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Leading Market Players: -

    --  Volkswagen Group
    --  Ford Motor Company
    --  Renault S.A
    --  AB Volvo
    --  General Motors
    --  Mercedes-Benz AG (Daimler AG)
    --  Toyota Motor Corporation
    --  Tesla, Inc.
    --  BMW AG
    --  Hyundai Motor Group

The report provides a detailed analysis of these key players in the global yacht charters market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Similar Reports We Have on Yacht Industry:

U.S. 60-80 Feet Motorized Yacht Charter Market Research Report 2023-2032

Superyacht Market Research Report 2023-2032

Hydrogen-Powered Yacht Market Research Report 2023-2032

Cruise Ship Market Research Report 2023-2032

Electric Boat Market Research Report 2023-2032

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