Yacht Charter Market Size (2024 - 2029)

The yacht charter market is poised for growth, driven by increasing participation in competitive and recreational boating activities and rising disposable incomes. Despite challenges such as the impact of the COVID-19 pandemic and high costs in certain regions, the market is expected to expand, with Asia Pacific emerging as the fastest-growing area due to the popularity of marine recreational activities. Key players are focusing on vertical integration with yacht manufacturers to enhance revenue, while associated businesses are entering the market to capitalize on its potential.

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Market Size of Yacht Charter Industry

Yacht Charter Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 5.79 %
Fastest Growing Market Asia-Pacific
Largest Market Europe
Market Concentration Medium

Major Players

Yacht Charter Market Major Players

*Disclaimer: Major Players sorted in no particular order

Yacht Charter Market Analysis

The Yacht Charter Market is expected to register a CAGR of 5.79% during the forecast period.

The market was valued at USD 18.9 billion in 2021, and it is projected to reach USD 26.5 billion by 2027,

The market was negatively impacted by the COVID-19 pandemic in 2020. Worldwide, the yacht charter industry was brought to a standstill by the pandemic. The impact was clear on the industry, as several companies confronted instabilities with their supply chain. Furthermore, the lack of skilled labor impacted the market growth. The key players are doing their best to counter the situation. Additionally, rising global participation in competitive and recreational boating activities and growing corporate tourism activities are expected to significantly support the demand of the target market.

Over the medium term, the factors such as the increasing demand for competitive and recreational boating activities, the purchasing power of people, and rising disposable income are anticipated to drive the yacht charter market during the forecast period. Seeing the potential of the market, numerous associated businesses, like yacht management, that support the construction of new yachts are also entering the market. Yacht charter companies are currently concentrating on vertical integration with major yacht manufacturers to intensify their revenue.

However, factors like high costs of yacht taxation policies and rentals in certain regions are impeding the market growth.

Asia Pacific is expected to be the fastest-growing region. Rising recreational activity popularity, as evidenced by increased participation in marine recreational activities in countries such as Australia, Indonesia, Thailand, and Singapore, is expected to support regional growth.

Yacht Charter Industry Segmentation

Yacht charters are typically used for leisure, business, and vacation activities. A yacht charter offers a convenient and easy way to enjoy a long holiday with friends and family without owning a yacht. Yacht charter firms provide the yacht and deliver the best itinerary as per the requirements of the clients, with crew and captain and online or on-call support till total charter duration.

The yacht charter market is segmented by charter type, yacht type, and geography. By charter type, the market is segmented into the bareboat, cabin, and crewed. By yacht type, the market is segmented into sailing yacht, motorboat yacht, and other yacht types.

By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.

By Charter Type
Bareboat
Cabin
Crewed
By Yacht Source
Sailing Yacht
Motorboat Yacht
Other Yacht Sources
By Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Brazil
Mexico
United Arab Emirates
Other Countries
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Yacht Charter Market Size Summary

The yacht charter market is poised for significant growth, driven by increasing global participation in both competitive and recreational boating activities. Despite the setbacks caused by the COVID-19 pandemic, which disrupted supply chains and highlighted labor shortages, the industry is rebounding. Key players are focusing on vertical integration with major yacht manufacturers to enhance revenue streams. The market is also witnessing the entry of numerous associated businesses, such as yacht management, capitalizing on the growing demand. However, challenges such as high taxation policies and rental costs in certain regions continue to impede growth. The Asia Pacific region is expected to experience the fastest growth, supported by the rising popularity of marine recreational activities in countries like Australia, Indonesia, and Thailand.

In Europe and North America, the yacht charter market remains robust, with Europe being a preferred destination due to its rich marine culture and diverse yacht options. The Northern American yachting season is characterized by a preference for comfort, with Florida being a significant hub due to its coastal borders and numerous lakes. The market is moderately fragmented, with major players like Burgess, Northrop & Johnson, and Dream Yacht Charter expanding their presence through fleet size increases and strategic partnerships. These companies are tapping into new markets and enhancing their offerings to cater to a discerning clientele. Regulatory changes, such as those in France regarding VAT, are also shaping the market landscape, prompting companies to adapt to evolving tax regulations.

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Yacht Charter Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Charter Type

      1. 2.1.1 Bareboat

      2. 2.1.2 Cabin

      3. 2.1.3 Crewed

    2. 2.2 By Yacht Source

      1. 2.2.1 Sailing Yacht

      2. 2.2.2 Motorboat Yacht

      3. 2.2.3 Other Yacht Sources

    3. 2.3 By Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 India

        2. 2.3.3.2 China

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Rest of the World

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Mexico

        3. 2.3.4.3 United Arab Emirates

        4. 2.3.4.4 Other Countries

Yacht Charter Market Size FAQs

The Yacht Charter Market is projected to register a CAGR of 5.79% during the forecast period (2024-2029)

Dream Yacht Charter, OceanBLUE Yachts Ltd., Burgess, Simpson Marine and Northrop and Johnson are the major companies operating in the Yacht Charter Market.

Yacht Charter Market Report Snapshots

Yacht Charter Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)