Mediterranean to Dominate Global Market for Yacht Charter by 2027-End: FMI Study

Yacht Charter Market

Recently, a trend of spending vacation or enjoying parties in a coastal area has become a hot cake in the market. People, nowadays, prefer to relish the natural beauty rather than going for trekking. In order to spend a blissful vacation in a beach area, yacht charters are now on high demand. Recently, Future Market Insights (FMI) has published a report, where it is estimated that the global market for yacht charter will grow at a steady CAGR of 5.1% throughout the forecast period, (2017-2027).

Dynamics

The report has mentioned the drivers, trends, growing opportunities along with the factors that are restraining the global market for yacht charter in the forthcoming years. Owing to the growth of promotional events that showcases technological developments, yachts & their availability and the various online service providers, the global market for yacht charter will grow robustly in the near future. Besides, there is a craze for yacht charters among the younger audiences, who eagerly desire to celebrate their birthdays or other weekend parties. Besides, the yacht charter companies are now adding some latest technologies and they also have some offers for the group of customers that includes reduction of expenses. These also play a crucial role to fuel up the demand for yacht charter rapidly in the market.

Segmentation

The global market for yacht charter has segmented into various segments that are based on the yacht type, yacht size and consumer type. The global market for yacht charter has bifurcated into sailing yacht and motor yacht, in terms of yacht type. Catamaran, trimaran, semi-displacement type, planing, and displacement type are the further sub-segments that fall into motor yacht segment. Moreover, catamaran, sloop, schooner, ketch are the sub-segments under sailing yacht segment. As per the report, it is estimated that the motor yacht segment was accounted for the highest revenue share in the market by 2017-end.

On the basis of consumer type, retail and corporate are two segments in the global market for yacht charter. The retail type yacht has further sub-segments, such as family, individual and couple, among others. It is predicted that the corporate segment will be increasing at an impressive CAGR by the end of forecast period.

In terms of yacht size, the market has segmented into tri-segments, includes large (over 50m), medium (30m-50m) and small (till 30m). According to the report, it is projected that the medium size yacht type segment will grow at a moderate CAGR of 7.6% by the end of the forecast period.

Global Yacht Charter Market: Regional Outlook and Key Players

The global market for yacht charter has segmented into various regions, including EMEA, APAC, Caribbean, America and Mediterranean. It is predicted in the report that the market in Mediterranean will lead the global market for yacht charter in the near future.

The report has outlined the various companies as the key players of the global market yacht charter. Boatbookings (Enitiative.biz, Ltd.), Yachtico Inc, Antlos S.r.l., Sailogy S.A, Fraser Escape Bareboat Charters, Princess Yacht Charter, Zizooboats GmbH and TUI Group, among others.

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About Suyog Keluskar 17 Articles
Suyog Keluskar is an experienced Market Research, Customer Insights & Consulting professional, covering latest industry and market updates on Electronics, Semiconductor and ICT domain. With over ten years of experience in business/market research, Suyog delivers customer-centric assignments in market-entry, market expansion, partner identification, competition analysis, market sizing, industry insights and customer intelligence studies. When Suyog is not busy unraveling the consumer mind or unearthing market potential he can be found traveling the road less traveled with a fascinating book on contemporary history in his hand. An avid cricket fan, music lover and you will also find him discussing politics with his friends and peers more often.