Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

Yacht charter is the practice of renting a motor yacht or sailboat and traveling to numerous island destinations. Yacht charters are typically used for vacation, business, and leisure activities. There are two types of charter namely skippered and bareboat, in which, bareboat charters involve a person renting a boat. Majority of bareboat companies offer courses to teach basic seamanship and prepare people for bareboat chartering. Various associated businesses such as yacht management, which assists in the construction of new yachts are also entering the market. Yacht charter companies are focusing on vertical integration with major yacht manufacturers in order to increase their revenue.

The global Yacht Charter Market was accounted for US$ 47.7 Bn in terms of value in 2019 and is expected to grow at CAGR of 6.7% for the period 2020-2027.

Market Dynamics- Drivers

  1. Increasing number of yacht owners is expected to drive growth of the global yacht charter market during the forecast period

Increasing wealthy population with high disposable income has increased the sales of luxury products such as yacht charters. Yachts are typically used for vacation and leisure activities, which in turn, is expected to drive growth of the global yacht charter market during the forecast period. According to Coherent Market Insights’ analysis, in 2013, around 355 luxury yachts were sold across the globe and the number increased to 412 in 2014. According to the same source, the global yacht market is expected to be valued at US$ 73.8 billion in 2020.

  1. Continuous advancements in technology are expected to propel the global yacht charter market growth over the forecast period

Many yacht charter companies across the globe are focused on incorporating novel technology into yachts, in order to cater to increasing tech-savvy consumer demands such as ambient lighting control in yachts. Thus, these factors are expected to boost the global yacht charter market growth in the near future. For instance, in 2013, Lumotics Marine installed a Sound 2 Light on a 60-meter yacht in southern Italy. The 400 watts LED lighting system allows consumers to customize the lighting inside the yacht.

Statistics:

Europe held dominant position in the global Yacht Charter market in 2019, accounting for 59.3% share in terms of value, followed by Europe and Asia Pacific, respectively

Figure 1: Global Yacht Charter Market Share (%) in terms of Value, By Region, 2019

Yacht Charter  | Coherent Market Insights

Impact of COVID-19:

COVID-19 Pandemic have adversely affected the economies of various countries around the globe. According to the International Monetary fund Analysis, the global economy is expected to shrink down by 3% percent in the year 2020 compared to year 2019. Due to the reduction in the size of global economy the spending or purchasing power of people also decreases. These economic slowdown affected majorly Travel and Tourism Industry. Yacht charters are typically used for vacation, business, and leisure activities and widely used in the Travel and Tourism Industry. Owing to above mentioned factors, the COVID-19 is expected to restrain the growth of the market in the year 2020.

Market Dynamics- Restraint

  1. High seasonal pricing is expected to restrain growth of the global yacht charter market during the forecast period

Yacht charters have high prices in vacation seasons, especially summers, Christmas, etc. This is typically due to increased demand for yachts. Furthermore, the peak season and yacht charter pricing during the period differs according to region. For instance, in North America, December to April is the peak season, while in Europe, demand for charter yachts is highest from June to September. On the contrary, in the Pacific region, July to October is the peak season for yacht charters. Therefore, these factors are expected to restrain growth of the global yacht charter market during the forecast period.

  1. High taxation in certain regions is expected to hamper the global yacht charter market growth over the forecast period

Taxation of yacht offers services is different across various regions. In certain regions, there are moderate taxation norms on yachts, while some other regions have high taxation rates, which in turn, is expected to hinder the global yacht charter market growth over the forecast period. For instance, in Spain, the purchase of a yacht involves 19% VAT and 12% registration tax if the yacht is more than 8m in length. This, in turn, drives the yacht charter prices in the country.

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Yacht Charter Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 47.7   Billion
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 6.7% 2027 Value Projection: USD 79.0  Billion
Geographies covered (27):
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East and Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Yacht Type: Motor Yacht (Displacement Type, Semi-Displacement, Planing, Catamaran and Trimaran) and Sailing Yacht (Sloop, Schooner. Catamaran and Ketch)
  • By Consumer Type: Corporate, Retail (Individual, Family/Group, Couple and Others
  • By Yacht Size : Large (over 50m), Medium (30m – 50m) and Small (up to 30m)
Companies covered:

Fun2Rent, Sunsail Ltd., Boatbound Inc., The Moorings, Yachtico, Hanse Group, Sailogy S.A., Fraser Escape Bareboat Charters, Dream Yacht Charter, Incrediblue Limited, and Antlos.

Growth Drivers:
  • Increasing number of yacht owners
  • Continuous advancements in technology
Restraints & Challenges:
  • High seasonal pricing

Market Opportunities

  1. Growing emphasis on interior design of yachts can offer significant growth opportunities

There has been increased emphasis on the interior design of yachts with growing use of exotic leather upholstery and aesthetic alignment of commodities inside the yacht. Furthermore, motor and sailing yachts are equipped with modern furniture, woodwork, and beautiful lighting. For instance, Hanse Group offers Hanse 370 and Hanse 400 yacht models with a new deck layout and updated design characteristics. The floor is made in teak style and cushions are of light cream color. Hanse Group offers new hull colors to its variety of colors such as desert sand and trabbi blue.

  1. Increasing preference for large yachts can present lucrative business opportunities

The global yacht charter market is witnessing a trend of increasing yacht sizes. This is owing to rising preference of customers to explore destinations in large groups. For instance, in 2011, Sunsail introduced the Sunsail 41 – a three-cabin monohull yacht. It is the latest addition to the current 39i and offers more space with 3 rooms and a 2-head layout.

Figure 2: Global Yacht Charter Market Value (US$ Bn), 2016 - 2027

Yacht Charter  | Coherent Market Insights

The global Yacht Charter market was valued at US$ 47.7 Bn in 2019 and is forecast to reach a value of US$ 79.0 Bn by 2027 at a CAGR of 6.7% between 2020 and 2027.

Market Trends

  1. North America Trends

Consumers across North America are preferring to visit charter destinations in large groups. This is done to avail lucrative discounts offered by various yacht charter companies and also minimize individual expenditure by sharing among the group. Furthermore, in the U.S., consumers are more are preferring yachts that provide comfort instead of performance. Since majority of consumers are tech-savvy, yacht charter companies are focusing on providing customers yachts that are equipped with the latest technology. For instance, The Moorings offers Moorings 5800 catamaran, an airconditioned yacht with iPod AUX connections, and Apple TV.

  1. Rest of Europe

Among the rest of the Europe region, Greece is the most popular destination for vacation and leisure activities. Most popular yacht charter destinations in Greece include Ionian Island, Aegean Islands, Cyclades, Dodecanese, Corfu, and Athens. Yacht charter companies offer various types of yacht charters in Greece, which includes luxury motor yachts, sailing, yacht charter, skippered, crewed yachts, and catamaran, powerboat, sailboat, and luxury yachts. Furthermore, the Greece yacht charter season starts in April and ends in October.

Competitive Section

Key players operating in the global yacht charter market are Fun2Rent, Sunsail Ltd., Boatbound Inc., The Moorings, Yachtico, Hanse Group, Sailogy S.A., Fraser Escape Bareboat Charters, Dream Yacht Charter, Incrediblue Limited, and Antlos.

Key Developments

  1. Key companies in the market are focused on product development, in order to strengthen the product portfolio. For instance, in June 2019, The Moorings, U.K.-based charter operator, introduced two new models The Moorings 52.3 and 52.4 monohulls.
  2. Major players in the market are involved in mergers and acquisitions, in order to enhance the market presence. For instance, in June 2018, Hanse Group acquired Privilège Marine SAS for US$ 541,875.

A storage area network refers to a high-speed network, which interconnects and presents a shared band of storage devices to various servers. SANs are typically helpful in backup and disaster recovery settings. SANs are used to enhance the capacity of mass storage devices such as optical jukeboxes, tape libraries, and disk arrays that have access to servers. Increasing volumes of critical data being accumulated in the global business environment have led to an increased need for better performances, manageability, availability, and security of data storage assets among enterprises. Furthermore, many enterprises are focused on implementing specialized storage networks that can aid businesses in attaining operational efficiencies.

Market Dynamics

Previously, in a conventional approach, LAN was used for data back-up and restore functions that are particularly slow and majorly impact efficiency of the whole operation. On the contrary, in SAN approach, data moves smoothly across the SAN to tape devices as it does not utilize critical server I/O or CPU resources. Several issues can be improved with the integration of high-performance backup and restore capabilities with data availability and device sharing. This includes performance degradation, extended downtime periods, and shrinking backup windows. However, increase in the overall server efficiency with server-less backup offered by SAN architecture is fueling adoption of SAN across various verticals. Thus, these factors are expected to drive growth of the market in the near future. Increasing usage of SANs among small and medium-sized enterprises (SMEs) is expected to boost the market growth, especially in emerging economies. This adoption of SANs among smaller organizations is mainly driven by the benefits offered by SANs such as flexibility, shared storage, and centralized control, in order to share capacity between multiple hosts. As a result of this, major SAN solution providers are constantly focused on products that are easy to use and are cost-effective for smaller enterprises, which in turn, is expected to boost the global Yacht Charter market growth over the forecast period.

Market Taxonomy

This report segments the Global Yacht Charter Market on the basis of Yacht Type, Consumer Type, Yacht Size and Region. On the basis of Yacht Type, Global Yacht Charter Market is segmented into Motor Yacht (Displacement Type, Semi-Displacement, Planing, Catamaran and Trimaran) and Sailing Yacht (Sloop, Schooner. Catamaran and Ketch). On the basis of Consumer Type, the Global Yacht Charter Market is segmented into Corporate, Retail (Individual, Family/Group, Couple and Others. On the basis of Yacht Size, the Global Yacht Charter Market is segmented into Large (over 50m), Medium (30m – 50m) and Small (up to 30m). On the basis of region, Global Yacht Charter Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the Global Yacht Charter Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global Yacht Charter Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the Global Yacht Charter Market includes Fun2Rent, Sunsail Ltd., Boatbound Inc., The Moorings, Yachtico, Hanse Group, Sailogy S.A., Fraser Escape Bareboat Charters, Dream Yacht Charter, Incrediblue Limited, and Antlos..
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, Yacht Size up gradation, market expansion, and marketing tactics
  • The global Yacht Charter market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Yacht Charter Market

Detailed Yacht Segmentation:

  • Global Yacht Charter Market, By Yacht Type:
    • Motor Yacht
      • Displacement Type
      • Semi-Displacement
      • Planing
      • Catamaran
      • Trimaran
    • Sailing Yacht
      • Sloop
      • Schooner
      • Catamaran
      • Ketch
  • Global Yacht Charter Market, By Consumer Type:
    • Corporate
    • Retail
      • Individual
      • Family/Group
      • Couple
      • Others
  • Global Yacht Charter Market, By Yacht Size:
    • Large (over 50m)
    • Medium (30m – 50m)
    • Small (up to 30m)
  • Global Yacht Charter Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa
  • Company Profiles
    • Antlos
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Boatbound Inc.
    • Dream Yacht Charter
    • Fraser Escape Bareboat Charters
    • Fun2Rent
    • Incrediblue Limited
    • Sailogy S.A.
    • Sunsail Ltd.
    • The Moorings
    • Yachtico, Hanse Group

Browse all the market data tables and figures on “Global Yacht Charter Market - Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, BY Yacht Type
      • Market Snippet, By Consumer Type
      • Market Snippet, BY Yacht Size
      • Market Snippet, By End User
      • Market Snippet, BY Vertical
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Consumer Type Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Yacht Charter Market, BY Yacht Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Yacht Type Trends
    • Motor Yacht
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
        • Displacement Type
        • Semi-Displacement
        • Planing
        • Catamaran
        • Trimaran
    • Sailing Yacht
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
        • Sloop
        • Schooner
        • Catamaran
        • Ketch
  5. Global Yacht Charter Market, By Consumer Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Yacht Type Trends
    • Corporate
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Retail
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
        • Individual
        • Family/Group
        • Couple
        • Others
  6. Global Yacht Charter Market, By Yacht Size, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Yacht Type Trends
    • Large (over 50m)
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Medium (30m – 50m)
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Small (up to 30m)
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Global Yacht Charter Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, Yacht Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Consumer Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, Yacht Size, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, Yacht Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Consumer Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, Yacht Size, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, Yacht Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Consumer Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, Yacht Size, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, Yacht Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Consumer Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, Yacht Size, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, Yacht Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Consumer Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, Yacht Size, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  8. Competitive Landscape
    • Company Profiles
      • Antlos
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Boatbound Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Dream Yacht Charter
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Fraser Escape Bareboat Charters
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Fun2Rent
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Incrediblue Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Sailogy S.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Sunsail Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • The Moorings
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Yachtico, Hanse Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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Frequently Asked Questions

The global market for Yacht Charter is expected to reach USD 57.7 Billion by 2022.
Increasing number of yacht owners is expected to drive growth of the global yacht charter market during the forecast period
NON CORPORATES sub-segment holds the largest market share among Product Type segment contributing 69.0% market share in terms of value in 2019.
Europe region hold the largest share in the global Yacht Charter market in 2019, accounting for 59.3% share in terms of value.
Key players operating in the global Yacht Charter market are Fun2Rent, Sunsail Ltd., Boatbound Inc., The Moorings, Yachtico, Hanse Group, Sailogy S.A., Fraser Escape Bareboat Charters, Dream Yacht Charter, Incrediblue Limited, and Antlos.
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