Yacht Charter Market Predicted to Hit US$ 12.9 Billion by 2028

IMARC Group, a leading market research company, has recently releases report titled “Yacht Charter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global yacht charter market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What is Yacht Charter?

Yacht charter refers to the practice of renting or hiring a yacht, typically for a specific period, to enjoy a leisurely boating experience. It allows individuals or groups to explore and travel to various destinations by water, enjoying the freedom, luxury, and amenities of yachts. It is popular for vacations, special events, corporate outings, and other recreational activities. It offers various activities and amenities, such as snorkeling, scuba diving, fishing, jet skiing, and kayaking, to enhance the onboard experience.

How big is the Yacht Charter Market?

The global yacht charter market size reached US$ 7.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8% during 2023-2028.

What Are the Growth Prospects and Trends in The Yacht Charter Industry?

The increasing marine tourism involving various leisure activities and sporting events and the rising demand for personalized traveling experiences among individuals represents one of the major factors driving the demand for yacht charter around the world. Moreover, the growing participation of the masses in recreational and competitive boating activities is influencing the market positively. In addition, the increasing adoption of yacht charters for business meetings, investor presentations, and sales parties is favoring the growth of the market. Apart from this, the increasing popularity of social media and the desire to capture and share unique experiences is contributing to the market growth. Furthermore, the easy the availability of improved maritime security systems, connectivity, and tracking, and rising internet penetration are propelling the growth of the market.

What Is Included In Market Segmentation?

The report has been segmented the market into following categories:

Breakup by Type:

• Motor Yacht
• Sailing Yacht

Breakup by Length:

• Up To 20 Ft
• 20 To 50 Ft
• Above 50 Ft

Breakup by Contract Type:

• Bareboat Charter
• Crewed Charter

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

The report provides a comprehensive analysis of the industry key players listed below:

The Major Players in the market are Boat International Media Ltd, Boatsetter Inc., Kiriacoulis Mediterranean, MarineMax Inc, Martello Yachting & Company, Nautal (Click&Boat), OceanBlue Logistics Limited, Sunsail Limited (TUI Group), Sunseeker International Ltd., The Moorings, YACHTICO INC. and Zizooboats GmbH.