Global Yacht Charter Market: Snapshot
Yacht chartering is one of the many results of a growing on demand oriented market. It provides advantages to both the owners of yachts as well as those who wish to lease them. Yacht chartering implies the service of renting or chartering a specific type of marine vessels, ranging from sailboats to motor yachts. The purpose of renting yachts can vary from personal vacations to corporate events; nearly all key players in the global yacht charter market have these purposes covered. Yacht charter currently can be categorized as crewed or bareboat, the former being more expensive but having the ship come with its own crew of operators. The latter can be cheaper but requires the renters to be able to operate the vessel. Several players in the global yacht charter market are also offering tutorials on operating bareboat vessels in order to entice more consumers.
From the perspective of the individuals or companies that own yachts, the global yacht charter market provides the advantage of having their vessels taken care of. From a global perspective, owing to growing disposable incomes and a growing number of high net worth and ultra-high net worth individuals, it is becoming easier for consumers to either purchase or rent yachts, providing an increasingly wider scope of opportunities for players in the global yacht charter market. The market is also gaining momentum due to the increasing popularity of services and packages that involve bareboat operating lessons as well as cabin charters.
Global Yacht Charter Market: Overview
Yacht chartering refers to the practice of renting a yacht for recreational or corporate purposes. Owners spend significantly on the maintenance of yachts. Furthermore, they use yachts infrequently. Primarily, yachts are employed for sailing purposes. Considering these factors, the provision of chartering yachts provides owners an effective way to recover the maintenance costs. Factors such as the growing population of affluent people worldwide, rising popularity of yacht vacations among the young population, and ease of booking yachts have been propelling the global yacht charter market since the last few years.
The ease of booking can be contributed to the convergence of web-based yacht charter applications in the yacht chartering business. Owing to these applications, customers can easily look up for yacht services on the Internet, choose suitable options, and make bookings within minutes. This factor is expected to lead to significant growth avenues for the global yacht charter market during the forecast period.
Exhaustive market data has been included in the report to provide a brief outline of major segments of the market. Based on criteria, the global yacht charter market can be segmented into mode of operation, yacht size, end-use, consumer, and geography.
Global Yacht Charter Market: Trends and Opportunities
The report on the yacht charter market unravels the most crucial details about the key elements of the global yacht charter market, over the review period and the present times. The report also presents a forward-looking perspective of the market and presents forecasts pertaining to market segments during the period between 2016 and 2024. It provides insights into the most influential drivers, restraints, and trends in the market. It also studies their impact on the market’s growth prospects during the forecast period.
Major trends observed in the global yacht charter market in the past few years include rising preference for large sized yachts that can accommodate large groups, booking services through web portals, and increasing partnerships between yacht charter mediators and travel (air or land) booking service providers.
The rising popularity of boat shows and promotional events presents a great opportunity for yacht manufacturers and yacht charter companies to market the latest yachts directly to potential consumers. The increased consumer preference toward luxurious yachts with excellent interiors, even if the services are somewhat expensive, is another major growth opportunity for companies.
Global Yacht Charter Market: Region-wise Outlook
Geographically, the global yacht charter market can be segmented into North America, Asia Pacific, Europe, and Rest of the World. In terms of revenue, countries in the Mediterranean and Caribbean regions account for the major share of the global yacht charter market. However, the yacht charter market in Asia Pacific is estimated to expand at the fastest pace during the forecast period. Demand for yacht charter services in Asia Pacific is likely to be driven by the affluent middle class population – exotic vacations and parties have become affordable to this group due to their high disposable income. The yacht charter market is also projected to expand significantly in Europe, as the demand for leisure activities has increased owing to the post-recession stability in the region’s economy.
Global Yacht Charter Market: Competitive Landscape
The global yacht charter market is dominated by international companies such as Sailogy S.A., The Moorings, Fun2 Rent, Incrediblue Limited, and Boatbound Inc. Other key vendors operating in the global yacht charter market include Fraser Escape Bareboat Charters, Yachtico Inc., Princess Yacht Charter, Boatbookings, Zizooboats GmbH, Antlos S.r.l., TUI Group, Collaborative Boating Inc., Sunsail Ltd., Hanse Group, Dream Yacht Charter, and Sailogy S.A.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.