The Yacht Charter Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Yacht Charter Global Market Report 2024, The yacht charter market size has grown rapidly in recent years. It will grow from $15.19 billion in 2023 to $16.85 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to seasonal demand and tourism patterns, regulatory changes in yachting industry, environmental awareness in yachting, emergence of charter brokerages, global tourism and destination appeal
The yacht charter market size is expected to see rapid growth in the next few years. It will grow to $25.46 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to flexible and adaptive charter policies, enhanced charter booking platforms, influence of social media and influencers, luxury lifestyle and high-end experiences, expansion of emerging markets. Major trends in the forecast period include rise in shared charters and group travel, rise in experiential tourism, personalization in services, technological innovations in yachts, social media influence on travel choices
The growing popularity of luxury marine tourism is expected to propel the growth of the yacht charter market going forward. Marine tourism refers to leisure endeavors entailing travel away from one’s home and having the marine environment as their host or main focus. Yacht charters are widely used as a premium form of marine tourism for luxurious and tremendous experiences. For instance, in December 2023, according to the Anadolu Agency, a Turkey-based news agency company, 95 cruise ships came to the Turkish ports in November 2023, up 39.7% every year. Therefore, the growing popularity of luxury marine tourism is driving the growth of the yacht charter market.
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The yacht charter market covered in this report is segmented –
1) By Type: Motorized Yacht, Sailing Yacht, Other Types
2) By Contract: Bareboat Charter, Crewed Charter
3) By Size: Large, Medium, Small
4) By Application: Vacation/ Leisure, Sailing, Other Applications
Major companies in the yacht charter market are focused on developing innovative vessels, such as fuel cell technology, to meet the growing demand for sophisticated sea experiences and maximize their profits in the market. A fuel cell technology is an electrochemical process that converts the chemical energy of a fuel and an oxidant directly into electricity, unlike batteries which store and then release pre-charged chemical energy. For instance, in March 2023, Lürssen Yachts, a Germany-based luxury yacht builder, launched COSMOS, superyacht with fuel cell technology.
The yacht charter market report table of contents includes:
1. Executive Summary
2. Yacht Charter Market Characteristics
3. Yacht Charter Market Trends And Strategies
4. Yacht Charter Market – Macro Economic Scenario
5. Global Yacht Charter Market Size and Growth
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26. South America Yacht Charter Market
27. Brazil Yacht Charter Market
28. Middle East Yacht Charter Market
29. Africa Yacht Charter Market
30. Yacht Charter Market Competitive Landscape And Company Profiles
Top Major Players:
- Burgess Yachts Limited
- Dream Yacht Worldwide
- The Moorings
- Camper & Nicholsons International Ltd
- Fairline Yacht
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