Yacht Charter Market Trajectory, from $11.4 Billion (2022) to $20.2 Billion (2032) with 6.9% Growth
Europe dominates the market in terms of revenue, followed by Asia-Pacific, North America, and LAMEA. In Asia-Pacific, Japan dominated the yacht charter market in 2022, whereas rest of Asia-Pacific is expected to grow at a significant rate during the forecast period.
๐๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ : https://www.alliedmarketresearch.com/request-sample/2888
The growth of the yacht charter market size is driven by the increasing number of private islands on cruise itineraries, use of alternative source of energy & improvised purchasing power across the globe and increase in number of high-net-worth individuals.
Furthermore, the increase in the demand for leisure activities due to a rise in disposable income and hectic lifestyles. The ease of booking a yacht has led to a rise in the popularity of yacht vacations among the youth to celebrate events in luxury, which is estimated to boost the market growth. Natural calamities and high costs associated with yacht charter are the key restraining factors of this market. Moreover, increased involvement of intermediaries & hybrid business models, rapid changes in yacht infrastructure and yacht tourism are estimated to boost the demand for yachts charter in the upcoming years. In addition, the rising popularity of boats and the increasing preference for luxurious & large-sized yachts that can accommodate large groups will further propel the market growth in the forecast period.
Sailing yachts primarily use natural winds as force for propulsion. The single-hull design of the sailing yachts ensures a comfortable and steady voyage, even when facing demanding sea conditions, a crucial factor for sailors undertaking ocean crossings. These types of yachts provide generous interior space, enabling comfortable living quarters and amenities during extended journeys. The increasing fascination with multi-hulls is attributed to their capacity to harmonize performance and comfort, meeting the changing desires of contemporary sailors who prioritize efficiency, spaciousness, and thrilling sailing adventures.
Furthermore, the yacht charter distinguishes between two type of renting i.e. bareboat yacht chartering and chartering with the skippers/ crew.
In addition, global yacht charter market is expected to remain influenced by eternal need for luxury and change in lifestyle. Moreover, introduction of new materials such as structural glass has allowed yacht architectures to reach new levels of sophistication.
Growth in number of yacht production, under construction projects is estimated to have a significant growth for the yacht charter market. Featuring helipads, swimming pools, saunas, hot tubs, and more yachts are epitome of luxury. Also, the key operating players in this business are adopting acquisition and expansion strategies to have their presence internationally.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/yacht-charter-market/purchase-options
The yacht charter market remained one of the few bright spots in an otherwise troubled global economy. With strong underlying drivers such as rise in ultra-net worth of individuals, surge in inclination toward recreational & expeditions, and rise in trend of yacht tourism, the market is expected to witness significant growth during the forecast period. At the same time, the sector is facing restraint i.e. high cost, and natural calamities.
Furthermore, the increase in the demand for leisure activities due to a rise in disposable income and hectic lifestyles also responsible for the growth of market. The ease of booking a yacht has led to a rise in the popularity of yacht vacations among the youth to celebrate events in luxury, which estimated to create an opportunity for the market growth.
Natural calamities and high cost associated with yacht charter are the key restraining factor of this market. Moreover, increased involvement of intermediaries & hybrid business models, rapid changes in yacht infrastructure and yacht tourism to boost demand for yachts charter in the upcoming years. In addition, the rising popularity of boats and the increasing preference for luxurious & large sized yachts that can accommodate large groups will further propel the market growth in future.
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ ๐๐ก๐ ๐๐ญ๐ฎ๐๐ฒ :
In 2022, by type, the Motorized type segment generated the highest revenue.
In 2022 by size, the medium segment was the highest revenue contributor.
In 2022, by application, the vacation/leisure segment was the highest revenue contributor.
In 2022, region-wise, Europe contributed the highest revenue, followed by Asia-Pacific, North America, and LAMEA.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/2888
๐๐๐๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ :
Volkswagen Group
Ford Motor Company
Renault S.A
AB Volvo
General Motors
Mercedes-Benz AG (Daimler AG)
Toyota Motor Corporation
Tesla, Inc.
BMW AG
Hyundai Motor Group
๐๐ซ๐จ๐ฐ๐ฌ๐ ๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :
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https://www.alliedmarketresearch.com/online-car-buying-market-A10067
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https://www.alliedmarketresearch.com/automotive-tire-market
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๐๐๐จ๐ฎ๐ญ ๐ฎ๐ฌ :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of โMarket Research Reportsโ and โBusiness Intelligence Solutions.โ AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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