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Yacht Charter Market to Grow into USD 144.21 Billion Market at CAGR of 6.7% during 2021-2027 | Facility Expansion by Fraser Yachts and Worldwide Boat to Create Promising Growth Opportunities

Fortune Business Insights
·6-min read

Yacht Charter Market Key Players Studied in this Report are Dream Yacht Charter (Maryland, USA), Worldwide Boat (Florida, USA), Fraser Yachts (Monaco, Europe), NORTHROP & JOHNSON (Florida, USA), Nicholson Yachts (New Port, USA), Simpson Marine Limited (Hong Kong, China), Ocean Independence (Zurich, Switzerland), MasterCraft Boat Holdings, Inc. (Tennessee, USA).

Pune, India, April 20, 2021 (GLOBE NEWSWIRE) -- According to the report, Yacht Charter Market size is projected to reach USD 10.82 Billion value by 2027, exhibiting a CAGR of 6.6%. The global yacht charter market size is expected to reach USD 10.82 billion by 2027 backed by the growing number of HNWI and the increasing number of intermediaries that is likely to boost the demand for yacht charter services globally.

What does the Report Provide?

The market report provides in-depth analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth in the forthcoming years. Moreover, the research analyst has adopted several research methodologies to obtain information about the current trends and industry developments that will drive the market growth between 2020 and 2027

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Growing Number of High-Net-Worth Individuals to Augment Growth

According to the World Report 2020 by Capgemini, the number of high-net-worth individuals (HNWI) grew by about 9% in 2019 despite economic slowdown, geopolitical slowdown, and international trade wars. Moreover, North America with 11%, followed by Europe with 9% rise in the income of HNWI, surpassed Asia-Pacific for the first time since 2012. The growing number of such individuals is likely to propel the demand for yacht charter services for leisure and recreational purposes. Moreover, the active participation of intermediaries as a medium between boat charter companies and customers to negotiate sales terms is anticipated to boost the global yacht charter market growth in the forthcoming years.

Motor Yacht to Hold Largest Market Share

Based on yacht type, the motor yacht segment is expected to hold the largest yacht charter market share in terms of revenue owing to the growing demand for such type yachts for recreational and personal purposes across the globe.


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Increasing Number of Water Sports in Europe to Promote Growth

Among all the regions, Europe is expected to remain dominant and hold the highest position in the global market in the forthcoming years. This dominance is attributable to the increasing number of water-based sport activities that is likely to thrive the number of yacht charter services in the region between 2020 and 2027. Europe stood at USD 8.01 billion in 2019.


On the other hand, North America is expected to hold the second position in the market during the forecast period. This is ascribable to factors such as presence of diverse coastline, along with the option of several cruising destinations in countries such as the U.S.


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Facility Expansion by Major Companies to Intensify Industry Competition

The global market comprises small, medium, and large companies striving to maintain a stronghold by focusing on expanding their facilities to develop advanced yachts to cater to the growing marine tourism industry. Moreover, the adoption of strategies such as collaboration, the introduction of new products, and merger and acquisition is expected to bode well for the growth of the market in the forthcoming years.


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Global Yacht Charter Market Segmentation:

By Yacht Type:

  • Motor Yacht,

  • Sailing Yacht,

By Length Type:

  • Up to 40m

  • 40 to 60 m,

  • Above 60m

By End Use Type:

  • Leisure,

  • Business

  • Others

By Contract Type:

  • Bareboat

  • Crewed

By Geography

  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)


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