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Global yacht market outlook & forecast 2024-2029: a $40.4 billion market by 2029 - growth in demand for luxury tourism and high net worth individuals drives demand.

DUBLIN , March 8, 2024 /PRNewswire/ -- The  "Global Yacht Market - Outlook & Forecast 2024-2029" report has been added to  ResearchAndMarkets.com's offering.

The global yacht market was valued at USD 26 billion in 2023 and is forecast to grow to USD 40.4 billion in 2029, registering a CAGR of 7.62% from 2023-2029.

The yacht market is marked by intense competition among global and regional players, each vying for a share in the lucrative luxury boating industry. Prominent yacht manufacturers such as Azimut-Benetti, Ferretti Group, and Sunseeker International are key players known for producing high-quality and innovative vessels.

The competitive landscape is characterized by a continuous pursuit of technological advancements, eco-friendly solutions, and unique design elements to cater to the discerning tastes of high-net-worth individuals. Yacht brokerage firms, including Burgess and Fraser, contribute to the competitive ecosystem by facilitating yacht sales and charter services.

Additionally, emerging players in the yacht industry from the Asia-Pacific region are making notable strides, adding a new dimension to the market's competitive dynamics. As consumer preferences evolve and sustainability becomes a focal point, the yacht market remains dynamic, with companies strategically positioning themselves to stay ahead in this glamorous yet fiercely competitive industry.

Market Opportunities & Trends

Economic Growth and High Net Worth Individuals (HNWIs)

Growth in Demand for Luxury Tourism

Growth of Emerging Markets

Market Growth Enablers

Benefits of Yacht Ownership

Technological Advancements

Government Support

Market Restraints

High Cost of Yacht Ownership

Environmental Concerns

Economic Downturns

SEGMENTATION INSIGHTS INSIGHTS BY TYPE

The global yacht market is broadly segmented into sailing and motorized yachts, each catering to distinct preferences and purposes. The conventional sailing yachts, propelled primarily by wind energy, offer a timeless and elegant nautical experience, attracting enthusiasts who appreciate the thrill of sailing and the romanticism associated with wind-powered navigation. On the other hand, motorized yachts, equipped with engines for propulsion, provide a more dynamic and versatile on-water experience, appealing to those who seek speed, convenience, and the ability to cover greater distances. The motorized yachts segment holds a higher market share and is expected to grow with a higher CAGR during the forecast period. Several countries and regions worldwide stand out for their strong and sustained demand for motorized yachts. For instance, demand for motorized yachts in the Mediterranean is buoyed by local buyers and international tourists seeking the luxury and adventure of maritime exploration.

INSIGHTS BY MOTORIZED YACHT

The motorized yacht segment represents a dynamic and diverse sector within the yacht market, catering to enthusiasts who value speed, convenience, and advanced technology. This category includes subsegments such as superyachts, flybridge yachts, sport yachts, and long-range yachts. Superyachts, known for their luxury and size, hold the highest share and are often equipped with luxurious amenities. Moreover, a relentless pursuit of innovation and cutting-edge technology marks the super yacht segment. Advancements in materials, engineering, and onboard systems contribute to developing more efficient, eco-friendly, and luxurious super yachts.

INSIGHTS BY SIZE

The global yacht market by size is segmented into 20 to 50 meters, up to 20 meters, and above 50 meters. Yachts ranging from 20 to 50 meters in length currently hold a maximum market share of over 50%, appealing to a broad spectrum of buyers seeking a balance between spaciousness and manageability. In this segment, buyers often find versatility for both private and charter use. However, the up to 20-meter category is expected to exhibit the highest CAGR, driven by increasing accessibility and affordability. These smaller yachts offer entry-level options, making yacht ownership more attainable for a broader market. On the other end, yachts above 50 meters cater to ultra-high-net-worth individuals, providing expansive living spaces, cutting-edge amenities, and the epitome of luxury. The segmentation by size allows the market to address the diverse demands of buyers, from those seeking intimate cruising experiences to those desiring grand, superyacht opulence.

INSIGHTS BY HULL TYPE

The global yacht market encompasses diverse hull types, influencing the vessel's performance, stability, and functionality. Monohull yachts hold the maximum share of the market when compared to their counterparts. It features a single hull and is known for its stability and efficiency, making it suitable for various applications. Various manufacturers and builders populate the monohull yacht industry, each bringing their touch of craftsmanship and innovation. Renowned names such as Beneteau, Jeanneau, and Dufour have established themselves as leaders in this segment. Moreover, displacement hulls displace water rather than riding on top, offering a comfortable and steady ride, ideal for long-distance cruising. Furthermore, specialized hulls are designed for specific purposes, such as ice-breaking hulls for polar exploration or SWATH (Small Waterplane Area Twin Hull) for improved stability in rough seas. Each hull type caters to different preferences, applications, and navigational conditions, contributing to the diversity and innovation within the market.

GEOGRAPHICAL ANALYSIS

Europe holds the most prominent share of the global yacht market, accounting for over 35% in 2023. With its vast maritime history, Europe boasts a captivating market defined by its coastlines and inclination for extravagant living standards. The European market reflects the continent's diversity and variety, offering various yacht sizes to cater to different preferences. In this enchanting landscape, smaller yachts up to 20 meters and larger-sized yachts exceeding 50 meters hold prominent positions. The market thrives as a traditional yachting hub, with countries like Italy , France , and Germany leading in manufacturing and innovation.

Key Company Profiles

Azimuti Benetti Group

Princess Yachts

Other Prominent Vendors

Hargrave Custom Yachts

Abeking & Rasmussen

The Italian Sea Group

Alpha Yachts

Antonini Navi

Arcadia Yachts

Mondomarine

Uniesse Marine Group

Baltic Yachts

Bayliss Boatworks

Bering Yachts

Bertram Yachts

BILGIN YACHTS

Kingship Marine

Grand Banks Yachts

Westport Yachts

Heesen Yachts Sales

Segmentation by Type

Motorized Yacht

Sailing Yacht

Segmentation by Motorised Yacht

Super Yacht

Flybridge Yacht

Sport Yacht

Long Range Yacht

Segmentation by Hull Type

Displacement Hull

Planing Hull

Specialized Hull

Segmentation by Application

Segmentation by Size

20 to 50 meters

Up to 20 meters

Above 50 meters

Segmentation by Geography

Europe ( Italy , France , Germany , The U.K., Spain , Greece , Netherlands , Rest of Europe )

North America (The U.S., Canada )

APAC ( China , Thailand , Singapore , Australia , Japan , Indonesia , Malaysia , Vietnam , Rest of APAC)

Middle East & Africa (UAE, Saudi Arabia , Qatar , Turkey , Kuwait , Egypt , South Africa , Rest of Middle East and Africa )

Latin America ( Brazil , Mexico , Argentina , Chile , Rest of Latin America )

For more information about this report visit https://www.researchandmarkets.com/r/nsxgnk

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Yacht market share, size, trends, industry analysis report, 2021 - 2028.

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What's Included in Full Report?

• PDF Format Report

Industry Dynamics

• Market Size and Share Analysis
• Industry Trends and Growth Outlook
• Major Market Players Detailed Analysis
• Key Driving Factors and Analysis by Segments
• Regional Analysis (Can be Customized based on Region and Country)
• Future Commercial Growth Analysis

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Yacht Market Share, Size, Trends, Industry Analysis Report, By Type (Super, Flybridge, Sport, Long Range, Others); By Length; By Propulsion (Motor, Sailing), By Region; Segment Forecast, 2021 - 2028

• Published Date:Oct-2021
• Format: PDF
• Report ID: PM2020
• Base Year: 2020
• Historical Data: 2016 - 2019
• Description

Table of Contents

• Analysis Type
• Research Methodology

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Report outlook.

The global yacht market was valued at USD 8.12 billion in 2020 and is expected to grow at a CAGR of 5.1% during the forecast period. The increasing inclination towards recreational or leisure activities on account of growing disposable income, coupled with the increasing preference for personalized services, luxury tourism, and exclusive traveling, are the few prominent factors expected to accelerate the market growth during the forecast period.

As per the survey of the World Tourism Organization UNWTO, in 2018, nearly 75% of the inclusive international travel departures leave from North America, South America, Europe, and comprised these regions accounted USD 263 billion in adventure travel expenditures. As a result, the adoption has shown the growth due to growing consumer interest in adventurous activities thereby, aiding the market growth over the forecast period.

A yacht is a power vessel or sailing utilized for preference, cruising, or racing. However, there is no typical definition, so the term refers to vessels with a cabin with facilities that provide accommodations for overnight use. In addition, factors such as the development of new, lighter, and more fuel-efficient yachts are further contributing to the considerable market demand for end-use.

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Growth Drivers The yacht market has perceived substantial developments since the last few decades supported by the constant advancements in technological yachts, allowing improved flexibilities to contract engines operate at an adjustable speed and considerably reduce noise, emission, and vibration.

Moreover, the development of luxurious amenities and high-tech interiors are delivered by the OEM manufacturers, which is further, predicted to drive the demand in the entire world. OEM vendors have often been witnessed to be continually investing in the research and development activities to provide an exceptional experience, thereby driving the growth outlook for the global yacht market over the foreseen period.

In addition, the rapid rise in tourism across developed and developing economies is further projected to reinforce the demand in the industry. North America is the major contributing factor that shows drastic growth in the tourism market. U.S. is the world's largest travel & tourism economy dominates with around 83% of the direct GDP impact on the region, followed by Mexico (12.6%) and Canada (4.5%). As a result, the adoption of yachts is growing, thereby creating positive growth for the global yacht market.

Report Segmentation

The market is primarily segmented on the basis of type, length, propulsion, and region.

Insight by Type

Based on the type segment, the superyacht is the leading revenue contributor in the global market in 2020 and is likely to keep its dominance in the forthcoming period. The segment is anticipated to observe a healthy growth during 2021-2028, owing to the increasing popularity of superyachts among the wide consumer base, along with the surging affinity for outdoor leisure activities. The sports yacht segment is projected to evolve as the highest CAGR in terms of market share during 2021-2028. This can be accredited to the vigorous participation of adults in sporting events and recreational boating activities.

Further, recreational tournaments are providing employment opportunities. They are emerging as an integral source of revenue generation for clothing outlets, yacht caterers, and boat builders, among others, which are anticipated to reinforce the market growth during the forthcoming period.

Insight by Propulsion

Motor yacht segment is expected to witness large revenue in the foreseen period. A considerable demand has been witnessed for the same on account of its benefits, such as large distance coverage, high speed, and power, among others. Besides, several individuals have extensively preferred it for the advanced equipment and systems deployed in the motor yachts, which have positively impacted the segment’s growth fortune.

The sailing yachts segment is projected to record the second-highest CAGR in the global market, backed by several factors, including increasing focus on leisure activities and the growing technological developments in these ships that make them more attractive options among the buyers.

Geographic Overview

Geographically, Europe is expected to dominate the global market in 2020. The demand in the European countries is mainly driven by the growing number of high net-worth individuals and the increasing popularity of fishing activities and water sports. For instance, in 2018, German residents took almost 142 million trips, which is the largest number of leisure and vacation trips performed in Europe.

However, in the approaching years, passenger traffic in marine tourism is growing dramatically due to the attractiveness of the region and current supportive policies. This is further anticipated to raise the investments in recreational activities, which, in turn, is expected to aid the adoption of the yacht in the region. In North America, the favorable growth in the number of yacht passengers is one of the major factors amplifying the demand for the regional market. Furthermore, the exponential rise in the travel & tourism markets due to rising disposable income, along with the increasing number of international tourist visits, is further augmenting the market growth in the region.

According to the World Bank Group, in 2010, nearly 99.5 million international tourists visited North America, which increased to 137.1 million in 2017. The increased number of international passenger visits is an important driver bolstering the region’s growth. Moreover, Asia Pacific is expected to witness a high CAGR in the global market in 2020. The demand in the region is anticipated to increase over the forecast period favorable government policies such as Swadesh Darshan Scheme and the flagship Incredible India, coupled with a rise in investment by the high-net-worth individuals seeking rich life experience.

By 2030, China including, other Asian countries such as India, Indonesia, and Malaysia expected to have a large proportion of middle-income societies, followed by younger millennials having high disposable income. Thus, many consumers and tourist agencies have now recognized the consumption of yachts for recreational activities, so the market is gaining significant prominence in the Asian economy.

Competitive Landscape

Some of the Major Players operating the global market include Azimut Benetti Group, Baglietto s.p.a, Bavaria Yachtbau GmbH, Damen Shipyards Group, Ferretti S.p.A., Heesen Yachts, Princess Yachts Limited, Sunseeker International, Sanlorenzo Yachts, and Viking Yacht Company.

Yacht Market Report Scope

• Objectives of the Study
• Market Scope
• Assumptions
• Stakeholders
• Market Highlights
• Data Mining
• Primary Sources
• Secondary Sources
• Yacht – Industry Snapshot
• Increasing high net worth of individuals
• Growing interest towards luxury tourism
• High operational costs
• Bargaining Power of Suppliers (Moderate)
• Threats of New Entrants: (Low)
• Bargaining Power of Buyers (Moderate)
• Threat of Substitute (Moderate)
• Rivalry among existing firms (High)
• PESTLE Analysis
• Yacht Market Industry trends
• COVID-19 Impact Analysis
• Key Findings
• Global Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Global Yacht Market, by Super, By Region, 2016 - 2028 (USD Billion)
• Global Yacht Market, by Flybridge, by Region, 2016 - 2028 (USD Billion)
• Global Yacht Market, by Sport, by Region, 2016 - 2028 (USD Billion)
• Global Yacht Market, by Long Range, by Region, 2016 - 2028 (USD Billion)
• Global Other Yacht Market, by Region, 2016 - 2028 (USD Billion)
• Global Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Global Yacht Market, by Up to 20 meters, by Region, 2016 - 2028 (USD Billion)
• Global Yacht Market, by 20 - 50 meters, by Region, 2016 - 2028 (USD Billion)
• Global Yacht Market, by Above 50 meters, by Region, 2016 - 2028 (USD Billion)
• Global Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Global Yacht Market, by Motor, by Region, 2016 - 2028 (USD Billion)
• Global Yacht Market, by Sailing, by Region, 2016 - 2028 (USD Billion)
• Key findings
• Yacht Market Assessment, By Geography, 2016 - 2028 (USD Billion)
• North America: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• North America: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• North America: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• U.S.: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• U.S.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• U.S.: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Canada: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Canada.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Canada: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Europe: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Europe.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Europe: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• UK: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• UK.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• UK: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• France: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• France.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• France: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Germany: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Germany.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Germany: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Italy: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Italy.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Italy: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Spain: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Spain.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Spain: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Netherlands: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Netherlands.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Netherlands: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Austria: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Austria.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Austria: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Asia Pacific: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Asia Pacific.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Asia Pacific: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• China: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• China.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• China: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• India: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• India.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• India: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Malaysia: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Malaysia.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Malaysia: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Japan: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Japan.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Japan: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Indonesia: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Indonesia.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Indonesia: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• South Korea: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• South Korea.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• South Korea: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Middle East & Africa: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Middle East & Africa.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Middle East & Africa: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Saudi Arabia: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Saudi Arabia.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Saudi Arabia: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• UAE: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• UAE.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• UAE: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Israel: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Israel.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Israel: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• South Africa: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• South Africa.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• South Africa: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Latin America: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Latin America.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Latin America: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Mexico: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Mexico.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Mexico: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Brazil: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Brazil.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Brazil: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Argentina: Yacht Market, by Length, 2016 - 2028 (USD Billion)
• Argentina.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
• Argentina: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
• Acquisitions
• Partnerships/Collaborations/Agreements/Exhibitions
• Company Overview
• Financial Performance
• Product Benchmarking
• Recent Development

List of Tables

Table 1 Global Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 2 Global Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 3 Global Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 4 Yacht Market Assessment, By Geography, 2016 - 2028 (USD Billion) Table 5 North America: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 6 North America: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 7 North America: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 8 U.S.: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 9 U.S.: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 10 U.S.: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 11 Canada: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 12 Canada: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 13 Canada: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 14 Europe: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 15 Europe: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 16 Europe: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 17 UK: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 18 UK: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 19 UK: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 20 France: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 21 France: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 22 France: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 23 Germany: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 24 Germany: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 25 Germany: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 26 Italy: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 27 Italy: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 28 Italy: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 29 Spain: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 30 Spain: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 31 Spain: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 32 Netherlands: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 33 Netherlands: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 34 Netherlands: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 35 Austria: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 36 Austria: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 37 Austria: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 38 Asia Pacific: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 39 Asia Pacific: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 40 Asia Pacific: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 41 China: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 42 China: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 43 China: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 44 India: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 45 India: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 46 India: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 47 Malaysia: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 48 Malaysia: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 49 Malaysia: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 50 Japan: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 51 Japan: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 52 Japan: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 53 Indonesia: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 54 Indonesia: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 55 Indonesia: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 56 South Korea: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 57 South Korea: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 58 South Korea: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 59 Middle East & Africa: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 60 Middle East & Africa: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 61 Middle East & Africa: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 62 Saudi Arabia: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 63 Saudi Arabia: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 64 Saudi Arabia: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 65 UAE: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 66 UAE: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 67 UAE: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 68 Israel: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 69 Israel: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 70 Israel: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 71 South Africa: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 72 South Africa: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 73 South Africa: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 74 Latin America: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 75 Latin America: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 76 Latin America: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 77 Mexico: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 78 Mexico: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 79 Mexico: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 80 Brazil: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 81 Brazil: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 82 Brazil: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 83 Argentina: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 84 Argentina: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 85 Argentina: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)

List of Figures

Figure 1. Global Yacht Market, by Length, 2016 - 2028 (USD Billion) Figure 2. Integrated Ecosystem Figure 3. Research Methodology: Top-Down & Bottom-Up Approach Figure 4. Market by Geography Figure 5. Porter’s Five Forces Figure 6. Market by Length Figure 7. Global Yacht Market, by Length, 2016 & 2028 (USD Billion) Figure 8. Market by Type Figure 9. Global Yacht Market, by Type, 2016 & 2028 (USD Billion) Figure 10. Market by Propulsion Figure 11. Global Yacht Market, by Propulsion, 2016 & 2028 (USD Billion) Figure 12. Yacht Market Assessment, By Geography, 2016 - 2028 (USD Billion) Figure 13. Strategic Analysis – Yacht Market

Report Scope

Yacht Market, Type Outlook (Revenue, USD Billion, 2016 - 2028)

• Super Yacht
• Flybridge Yacht
• Sport Yacht
• Long Range Yacht

Yacht Market, Length Outlook (Revenue, USD Billion, 2016 - 2028)

• Up to 20 meters
• 20 - 50 meters
• Above 50 meters

Yacht Market, Propulsion Outlook (Revenue, USD Billion, 2016 - 2028)

• Motor Yacht
• Sailing Yacht

Yacht Market, Regional Outlook (Revenue, USD Billion, 2016 - 2028)

Qualitative Analysis

• Industry trends
• Market drivers and restraints
• Market size
• Growth prospects
• Porter’s analysis
• PESTEL Analysis
• Value Chain Analysis
• Key market opportunities prioritized
• Product benchmarking
• Latest strategic developments
• Price Trend Analysis

Quantitative Analysis

• Market size, estimates, and forecasts from 2016 - 2028
• Market size and revenue estimates for type up to 2028
• Market revenue estimates for length up to 2028
• Market revenue estimates for propulsion up to 2028
• Regional market size and forecast up to 2028
• Company financials

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Home ➤ Automotive and Transportation ➤ Automotive components ➤ Yacht Market

Global Yacht Market By Type (Flybridge Yacht, Super Yacht, Sport Yacht, Long Range Yacht and Other Types) By Length (Up to 20 Meters, 20-50 Meters and Above 50 Meters) By Propulsion (Motor Yacht and Sailing Yacht) By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

• Published date: Jan 2024
• Report ID: 29677
• Number of Pages: 290
• Table of Contents
• Major Market Players
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Market Overview

Key takeaways, opportunity, by type analysis, by length analysis, by propulsion analysis, key market segments, regional analysis, market share & key players analysis, recent developments, report scope.

The Global Yacht Market size is expected to be worth around USD 16.8 Billion by 2033 , from USD 10.3 Billion in 2023 , growing at a CAGR of 5.8% during the forecast period from 2024 to 2033.

This growth is driven by increasing interest in boating activities, higher purchasing power, and the rise of luxury yacht destinations. The International Monetary Fund’s projection of China’s economy growing by 40% by 2028 and the anticipated USD 552.8 billion recreational expenditure in the United States in 2023 exemplify the increasing disposable income globally. Additionally, tourist hotspots with oceanic borders, like the Netherlands, UK, Italy, and UAE, contribute to this market’s growth.

Technological advancements and environmentally conscious designs are pivotal in this market. The International Maritime Organization’s directive to cut CO2 emissions by 70% by 2050 has led to the development of more efficient, eco-friendly yachts . This shift reflects the growing environmental awareness among high-net-worth individuals.

The market has also evolved in manufacturing practices, shifting from traditional wood and fiber-reinforced polymers to advanced composites, offering benefits like corrosion resistance and improved strength-to-weight ratios. Innovations like electronically controlled fuel injection systems enhance yacht efficiency, reducing noise, vibration, and emissions.

Despite the high ownership costs, yacht rental services like Sailogy S.A. and Boatbound Inc. have made luxury yachting more accessible. The COVID-19 pandemic initially impacted the market, but recovery is underway as restrictions ease and interest in leisure activities grows.

• The Yacht Market is expected to reach a value of USD 16.80 billion by the year 2032 .
• This growth is projected to have a CAGR of 5.80% from 2024 to 2032.
• In 2023, the Yacht Market was valued at USD 10.3 billion.
• The International Monetary Fund predicts a 40% growth in China’s economy by 2028.
• The Super Yacht Segment held a dominant position, capturing 30.5% of the market share.
• The 20-50 Meters Segment led the market, accounting for 56% of the market share.
• The Motor Yacht Segment was predominant, securing 84% of the market share.
• Increased Disposable Income and Yacht Renting Trend : The yacht market is growing due to higher disposable incomes worldwide. For example, the U.S. Department of Commerce reported a 3.5% increase in recreational spending share of consumer spending from 2013 to 2022. In the EU, recreational spending was 1.2% of GDP in 2021. Technological advancements in yacht engines, enhancing speed and reducing emissions, noise, and vibration, contribute to this growth.
• Demand for Luxury and Customization : With the increasing demand for luxury yachts, manufacturers are focusing on luxurious features and customization to meet customer needs, thus propelling market growth.
• Growth in Marine Tourism and Water Sports : The popularity of water sports and marine tourism has led to the development of high-power, high-speed yachts, further driving market expansion.
• Safety Concerns and Strict Regulations : The yacht market faces challenges due to safety concerns and strict regulations on speed and emissions. The California Air Resources Board (CARB) proposed emission regulations for yachts in September 2021, aiming to minimize harmful emissions.
• Environmental Impact : Yachts can significantly affect marine ecosystems, leading to concerns about water quality degradation and marine life harm. Efforts to reduce yacht-related pollution require collaboration among manufacturers, consumers, and regulators.
• Advent of AI and Electrification : The integration of AI , machine learning, and electrification in yachts is transforming the industry, and creating new opportunities. For instance, Porsche and Frauscher Shipyard’s development of the electric Frauscher x Porsche 850 Fantom Air in June 2023 exemplifies this trend.
• Yacht Renting Trends : The renting of luxury yachts for special occasions, leisure activities, and corporate meetings is expanding market opportunities.
• Electrification of Yachts : The shift to electric yachts, due to environmental concerns and rising fuel prices, is a growing trend. Investments in R&D and government support are accelerating this shift.
• Technological Advancements in Yacht Manufacturing : The use of 3D printing and sustainable power sources in yacht manufacturing is on the rise, enhancing customization and reducing costs.
• Generational Influence : Millennials are significantly impacting the luxury yacht market. Their preference for unique experiences over mere ownership is reshaping industry dynamics. This generational shift is driving demand and leading to innovations tailored to these new preferences.
• Independent Travelers : The rise in independent travel is another trend shaping the market. Technological advancements have made it easier for people to plan and embark on solo yacht adventures.
• Online Booking : The preference for online booking channels is growing. Prospective yacht owners and renters are increasingly using online platforms to compare prices, features, and types, making informed decisions based on a wide range of available options.
• Government Initiatives and Policies : Policies aimed at boosting tourism and maritime activities are playing a crucial role in market growth, especially in Europe and Asia Pacific. These initiatives are encouraging investments in coastal areas and recreational activities, enhancing the attractiveness of yachting as a leisure activity.

Luxury Yacht Market Trends

• Increasing Number of Billionaires : According to Forbes, the U.S. had 735 billionaires in 2021, followed by China with 495. In India, the number of billionaires increased from 102 in 2020 to 166 in 2022, with their wealth growing by 46% in 2022. Bloomberg reports that around 131 billionaires doubled their net worth during the pandemic. This increase in ultra-wealthy individuals is driving luxury yacht demand.
• Green Yachting : Millennials, making up to 40% of yacht buyers, are shifting towards eco-friendly yachting. The International Maritime Organization aims to reduce greenhouse gas emissions by 50% from 2008 levels by 2050.

In 2023, the Super Yacht segment held a dominant position in the yacht market, capturing a significant 30.5% share . This dominance can be attributed to the high popularity of these yachts among end-users, with their luxury features and advanced amenities making them a preferred choice for high-net-worth individuals and yacht enthusiasts.

• Super Yacht Segment : Dominating the market with over 30% revenue share in 2023, Super Yachts, typically ranging from 30-50 meters in length, are favored for their luxurious offerings, though smaller than Mega Yachts. Key players like Sanlorenzo Spa and Lürssen, holding over 11% of the market share, focus on innovative designs and high-end customizations to cater to the affluent market. This segment is expected to see substantial growth through 2024-2033, driven by rising demand and advancements in yacht technology.
• Sport Yacht Segment : Forecasted as the fastest-growing segment, Sport Yachts are gaining traction, especially in countries like China and France. Their popularity is linked to the active participation in recreational boating and sporting events. These yachts, used for marine tourism, sports tournaments, and various water activities, are propelling the segment’s growth. The increasing demand for recreational tournaments and outdoor activities offers significant revenue-generation opportunities for various stakeholders in the industry.
• Flybridge Yacht Segment : Flybridge Yachts, known for their elevated control station or ‘flybridge’, offers a unique blend of outdoor experience and control. While not as dominant as Super or sports yachts, this segment caters to a niche market that values outdoor navigation and leisure.
• Long Range Yacht Segment : Long Range Yachts are designed for extended voyages, offering durability and high fuel efficiency. This segment, though smaller, caters to a growing clientele interested in remote explorations and extended sea journeys. The demand in this segment is expected to rise, influenced by the increasing interest in remote tourism and adventure activities.
• Other Types : This category includes various specialized yachts like Mega Yachts, which are over 50 meters in length and equipped with luxury amenities such as swimming pools, movie halls, and gyms. These yachts are generally used for leisure and recreation by large groups and are mostly owned by organizations.

In 2023, the 20-50 Meters segment held a dominant position in the yacht market, capturing a significant 56% share . This segment’s lead is largely due to its balance of size and functionality, offering benefits like fuel efficiency, easier maneuverability, and lower maintenance costs compared to larger yachts.

• 20-50 Meters Segment : Dominating the market with over 56% revenue share in 2023, this segment is expected to maintain its lead. Yachts in this range offer advantages such as the ability to sail in light winds, lower moorage costs, and shallower drafts for water anchorages. This size range is versatile, and suitable for both leisure and corporate usage, making it a popular choice among yacht enthusiasts.
• Up to 20 Meters Segment : Yachts within this size are in demand for competitive and recreational purposes. In regions like Europe and North America, there’s a growing trend of integrating renewable energy sources like solar and wind energy in yachts, leading to lower emissions and reduced fuel consumption. These yachts are generally compact and lightweight, favored for their eco-friendliness and efficiency. The segment’s growth is bolstered by this increasing focus on sustainability and the rising popularity of maritime leisure activities.
• Above 50 Meters Segment : While not as dominant as the other two, the Above 50 Meters segment is significant, especially in the luxury yacht market. These large yachts, including superyachts and megayachts, are more prevalent in developed countries, often used for commercial purposes and high-end tourism. The market for these yachts is expected to exhibit notable growth, driven by a surge in luxury tourism and the preferences of high-net-worth individuals for grand and exclusive sea experiences.

In 2023, the Motor Yacht segment held a dominant position in the yacht market, capturing a significant 84% share . This dominance is primarily due to the segment’s advantages such as higher speed, power, and the ability to cover longer distances, appealing to a broad range of yacht enthusiasts.

• Motor Yacht Segment : The popularity of this segment stems from their advanced features, long-distance coverage, and high-speed capabilities. Motor yachts, equipped with modern systems and equipment, cater to a clientele seeking luxury, convenience, and performance. With multi-deck designs and spacious interiors, these yachts are ideal for large groups. The segment is forecasted to grow at a CAGR of ~6% from 2024 to 2033, driven by rising demand for recreational activities and ongoing technological advancements.
• Sailing Yacht Segment : Sailing yachts, which use sails for propulsion, depending on wind speed and direction. Although they can cover long distances, the design and onboard facilities of motor yachts often make them more attractive to buyers. However, sailing yachts, known for their eco-friendliness, modern design, luxurious amenities, and large deck space, continue to have a dedicated market segment. The demand for sailing yachts is expected to grow, fueled by the increasing interest in recreational sailing and the rising focus on environmental sustainability.
• Flybridge Yacht
• Super Yacht
• Sport Yacht
• Long Range Yacht
• Other Types
• Up to 20 Meters
• 20-50 Meters
• Above 50 Meters

By Propulsion

• Motor Yacht
• Sailing Yacht

In 2023, Europe is leading the yacht market with a substantial 33.6% share , amounting to USD 3.2 billion . This dominance is attributed to the region’s high concentration of billionaires and rapidly growing wealth. Scenic destinations like Greece and Italy are at the forefront, driven by extensive tourism and private yacht parties. The European Union Council’s initiative, the European Agenda for Tourism 2030, aimed at enhancing digital and green tourism, further bolsters this growth.

In 2022, the introduction of 606 new yachts marked a record in sales, signifying the region’s robust market dynamics. The high demand for yachting in tourist hotspots like Greece, Croatia, Spain, Italy, and France, coupled with the popularity of fishing and water sports, fuels the market’s expansion. Notably, about 40% of all new 40-meter yachts globally were purchased by European customers over the last five years, indicating the region’s significant market share.

The Asia Pacific region is projected to be the fastest-growing market. Rapid urbanization, rising living standards, and increasing disposable incomes are key drivers. Leisure activities like fishing, water sports, and maritime tourism are gaining traction in countries like Thailand, Malaysia, Singapore, China, Japan, and Australia. Aggressive government initiatives, such as India’s Swadesh Darshan Scheme and the Incredible India campaign, are expected to significantly propel this market forward.

Key Regions and Countries:

• Switzerland
• Rest of Western Europe
• The Czech Republic
• Rest of Eastern Europe
• South Korea
• Australia & New Zealand
• Philippines
• Rest of APAC
• Rest of Latin America
• Saudi Arabia
• South Africa
• United Arab Emirates
• Rest of MEA

In order to expand the market across the globe, the key market companies are taking initiatives and making strategies like mergers & acquisitions, partnerships, making investments, and launching new products and services.

Some of the major companies in the market are Princess Yachts Limited, Viking Yacht Company, Heesen Yachts Sales B.V., Horizon Yacht Company, Cheoy Lee Shipyards Limited, Christensen Shipyards Ltd., Damen Yachting BV, and many other companies.

Key Market Players

• Alexander Marine International Co. Ltd.
• Princess Yachts Limited
• Viking Yacht Company
• Heesen Yachts Sales B.V.
• Horizon Yacht Company
• Cheoy Lee Shipyards Limited
• Christensen Shipyards Ltd.
• Damen Yachting BV
• Dyna Craft Ltd.
• Ferretti S.p.a
• Other Key Players
• October 2023 : Four Seasons entered the yacht market by announcing the launch of Four Seasons Yachts. This ambitious venture is expected to commence sailing by late 2025, marking the luxury hotel brand’s expansion into maritime luxury.
• June 2023 : Sanlorenzo unveiled its 47-meter explorer yacht, Para Bellum, the tenth addition to its successful 460-500 EXP series. Featuring twin Caterpillar engines, the yacht reaches a cruising speed of 13 knots. In the same month, Sparta, a superyacht with styling by Winch Design, was introduced. It boasts a sleek “Venetian red” and metallic grey hull, combining elegant aesthetics with high performance.
• May 2023 : The Kadey-Krogen Group, based in Florida, acquired American Tugs, a leading builder of U.S.-built coastal cruisers. Founded in 1999, American Tugs has a strong presence in North America and Europe and has delivered over 250 cruising yachts from its 2,600 sq.m. facility in LaConner, Washington.
• April 2023 : Ferretti Group launched the Pershing 140, its first aluminum flagship model, from the Ancona facility. Equipped with four MTU 16V 2000 M96L engines, each with 2,600 hp, the yacht offers a cruising speed of 35 knots and a top speed of 38 knots.
• March 2023 : Ferretti Group expanded its manufacturing capabilities by acquiring a 70,000-sq.m. production site in Ravenna. The company plans to invest USD 87 million in this facility, aiming for a 20% increase in production through new spaces and R&D centers.
• September 2022 : Ferretti Group took significant stakes in Masello Srl and Fratelli Canalicchio SpA, both Italy-based companies specializing in yacht furnishings and kinetic systems, respectively.
• January 2023 : Accor announced the launch of the world’s largest luxury sailing ship, set to debut in 2026. This megayacht will feature 54 suites, highlighting Accor’s commitment to luxury and innovation in maritime leisure.

Frequently Asked Questions (FAQ)

In 2032, the Yacht Market Market will reach USD 16.8 billion.

The Yacht Market Market is expected to grow at 5.8% CAGR (2023-2032).

Alexander Marine International Co. Ltd., Princess Yachts Limited, Viking Yacht Company,Heesen Yachts Sales B.V., Horizon Yacht Company and Other Key Players are the main vendors in this market.

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Yacht Sourcing > The Future of the Global Yachting Market in 2024

The Future of the Global Yachting Market in 2024

• March 20, 2024

The global yachting market has grown steadily over the past decade, driven by rising affluence and the increasing popularity of yachting as a leisure activity. Yachting refers to recreational boats and ships, ranging from small sailboats to large motor yachts. It is a popular activity among high-net-worth individuals, allowing them to cruise for leisure, recreation, and entertainment.

The yachting market comprises selling and maintaining yachts, along with ancillary services like charters, marinas, and yacht tourism. Key customer segments include wealthy individuals, charter companies, and hotels/resorts. Geographically, Europe has traditionally been the largest market, though North America and Asia Pacific are quickly gaining ground.

The yachting industry was valued at around $35 billion in 2019, having grown at a CAGR of 4.2% over the past five years. Further growth is expected, driven by rising disposable incomes, increasing tourism, and yacht design/technology innovations. However, the market faces challenges such as high ownership costs, environmental regulations, and the availability of marinas. Overall, promising opportunities exist for yacht manufacturers, charter companies, and service providers targeting the high-end consumer segment.

Market Size & Growth Projections

The global yachting market was valued at approximately $47.5 billion in 2021. The market is projected to grow at a CAGR of 4.2% between 2022 and 2024, reaching nearly $54 billion by 2024.

The largest regional markets currently are:

– North America – $16.8 billion

– Europe – $15.9 billion

– Asia Pacific – $8.3 billion

North America and Europe account for over 70% of the global yachting market. However, the Asia Pacific market is expected to grow fastest over the next few years as yachting gains popularity among the expanding middle class.

Key Market Segments

The global yachting market can be segmented into two main categories: luxury and mainstream yachts.

Luxury Yachts

The luxury yacht segment comprises high-end yachts, typically 80 feet or longer. These include motor yachts, sailing yachts, and superyachts. Luxury yachts are characterized by their large size, opulent amenities, high performance, and premium quality. They are built by leading yacht builders using the finest materials and customized to owner specifications. The luxury yacht market has witnessed steady growth in recent years, driven by high-net-worth individuals. Critical markets for luxury yachts include North America, Europe, and Asia Pacific.

Mainstream Yachts

In contrast to luxury yachts, mainstream yachts cater to middle-class boat buyers. They include smaller motorboats and sailboats less than 80 feet in length. Mainstream yacht types include bowriders, cuddy cabins, center console boats, express cruisers, and daysailers. These affordable yachts offer practical boating at lower price points. Mainstream yachts target a mass market and are produced by high-volume manufacturers. Key demand comes from marine tourism, recreational boating, and fishing activities.

Demand Drivers

Several key factors are fueling growth in the global yachting market:

• Wealth Demographics

The yachting industry is driven by high-net-worth individuals (HNWIs) with over  $1 million  in investable assets. Their numbers have steadily risen over the past decade, especially in Asia and the Middle East. This expanding pool of wealthy consumers is driving yacht sales globally. Market analysts point to economic growth in China, in particular, as a significant contributor, with over 1 million new millionaires created there in just the past five years.

• Tourism Industry Trends

The rise of experiential luxury travel and tourism is also fueling the yachting industry’s growth. Cruising exotic destinations on a private yacht appeals to HNWIs seeking exclusive and customized travel adventures. Yachting enables access to secluded beaches, islands, and coastlines that even luxury resorts cannot provide. As tourism rebounds post-pandemic, the appeal of private yachts for luxury travel will likely accelerate.

• Coastal Infrastructure Development

Several countries invest heavily in maritime infrastructure like ports, marinas, and facilities to attract more yachting tourism. The Mediterranean remains the epicenter of yachting, with countries like Monaco, France, and Croatia building state-of-the-art marinas to cater to larger private yachts. Emerging yachting destinations in Asia and the Middle East also prioritize development along their coasts to tap into this lucrative tourism segment. This infrastructure enables further growth of the global yachting fleet and cruising destinations.

Regional Trends

The global yachting market is seeing diverging trends across regions. Mature markets like Europe and North America dominate in total market size, while rapid growth occurs across Asia Pacific.

– Europe accounts for over 50% of the global yachting market, with the Mediterranean region being the focal point of yacht tourism and purchases. Countries like Italy, France, and Spain lead the yacht manufacturing industry.

– Demand also remains strong in Northern Europe, especially amongst ultra-high-net-worth individuals. Brokerage sales have been robust in the UK in particular.

– Emerging markets in Eastern Europe are also contributing to growth. Croatia and Montenegro have invested heavily in yachting infrastructure, incentivizing foreign yacht purchases.

• North America

– The US drives yachting demand in North America, accounting for over 85% of the regional market size. Florida and the Northeast remain prime boating locations.

– Canada and Mexico represent smaller but fast-growing markets. Vancouver and Toronto are emerging yachting hubs in Canada.

• Asia Pacific

– China, Hong Kong, Singapore, and Thailand have seen a surge in yacht purchases and infrastructure development. Tax incentives in Thailand have made the country an attractive destination.

– Strong economic growth in India, Indonesia, and Malaysia indicates significant emerging opportunities. However, regulative challenges remain for foreign yacht imports across the region.

– Australia and New Zealand have mature yachting cultures akin to Europe. They serve as entry points to broader Asia Pacific growth.

Technological Innovations

In recent years, the global yachting market has seen significant technological innovations transforming yacht ownership and the charter experience. Some of the key innovations include:

Electric Propulsion Systems

Electric propulsion systems are gaining popularity in the yachting industry. These quiet and emission-free systems are ideal for short-range cruising using electric motors powered by high-capacity lithium-ion battery banks. While range and power output limitations remain, electric systems are improving quickly. Leading manufacturers like Torqeedo offer hybrid electric systems that combine diesel engines with electric motors.

Fully electric yachts, like the 88-foot Vision concept from Swedish company Candela, are also emerging. This hydrofoil craft can hit speeds over 30 knots, with only the hum of the two 250 kW motors breaking the silence. As battery densities improve, electric propulsion will empower greener, quieter yachts.

Digital Navigation

Modern yachts are adopting sophisticated digital navigation systems for route planning, weather routing, and automatic anchoring. Chart plotters like the Garmin GPSMAP series integrate sonar, radar, and entertainment controls. Advanced autopilots like the Raymarine Evolution maintain set courses without human intervention.

Digital navigation streamlines previously manual tasks for the captain and crew. Touchscreen interfaces provide intuitive control alongside automation to improve safety, efficiency, and the overall onboard experience. Integrated systems allow yachts to be operated more precisely, regardless of conditions.

Entertainment Systems

Entertainment and connectivity onboard luxury yachts have substantially improved through new sound, video, lighting, and internet systems. Many now feature advanced home theater setups with 4K projectors, surround sound, and streaming services via maritime satellite internet. Others have integrated audio systems controlling music across decks.

Networked lighting systems like Savant create custom mood lighting scenes. Internet connectivity lets guests stream movies and music from their devices anywhere onboard. These cutting-edge systems transform yachts into impeccable entertainment hubs for owners and charter clients.

Sustainability

In recent years, the yachting industry has made strides to operate and build yachts more sustainably. This has been driven by consumer demand for more eco-friendly vessels and tightening environmental regulations.

Energy efficiency has become a significant focus, with newer yacht models integrating features like solar panels, hybrid propulsion systems, and lightweight hull materials. Solar panels can supplement the yacht’s power supply, reducing the need to run diesel generators. Hybrid propulsion combines diesel engines with electric motors, resulting in fuel savings. Advanced lightweight hull composites like carbon fiber require less energy to propel.

Yacht builders also use more sustainable materials like recycled teak or bamboo to reduce deforestation. Eco-friendly paints and coatings are being used that have lower emissions and biodegradability. Even interiors are designed sustainably, using renewable materials and avoiding toxic chemicals.

At a regulatory level, maritime emission rules set by organizations like the IMO are forcing the industry to transition to cleaner fuels. The US and EU have also set standards limiting VOC emissions from paints and coatings. These measures have pushed yacht builders to implement new technologies and processes to meet compliance.

Looking ahead, sustainability will continue to shape the superyacht market. Consumer interest and environmental regulations will drive further innovation in energy efficiency, materials, and manufacturing methods. This transition is critical for the industry to reduce its environmental impact and meet its corporate social responsibilities.

COVID-19 Impact

The COVID-19 pandemic resulted in an unprecedented decline in the global yachting industry in 2020. As countries went into lockdown and imposed travel restrictions, demand for yachts plummeted.

According to industry estimates, the production of yachts above 24 meters fell by nearly 20% in 2020 compared to 2019. The demand for smaller yachts and boats also sharply declined as leisure activities were curtailed. Charter businesses were severely affected as well.

However, the yachting market has also shown signs of recovery in 2021 as pandemic restrictions ease. Many industry experts expect a rebound, with the production of larger yachts projected to recover to 2019 levels by 2022. The charter market is also likely to see an uptick.

Key trends aiding the recovery include:

– Pent-up demand from high-net-worth individuals looking to spend on luxury experiences and assets after a year of lockdowns. This demographic has seen its wealth increase despite the pandemic.

– Continued low-interest rates and attractive financing options are encouraging yacht purchases.

– In some countries, yachting is considered a safer vacation option than hotels and resorts. This has boosted demand for private yacht charters.

– Yachting routes and businesses are adapting to new health regulations to accommodate continued social distancing preferences among clients.

While risks remain, the yachting industry has weathered the worst effects of the pandemic and is poised for a strong recovery over the next few years.

Future Outlook

The global yachting market is projected to experience steady growth in the coming years, driven by rising affluence, demand for luxury experiences, and innovations in yacht technology and design. However, the industry also faces some challenges and uncertainties moving forward.

Continued Growth Projected

Industry experts project that the global yachting market will grow at a CAGR of around 4% from 2022 to 2024. This continued growth will be fueled by rising numbers of high-net-worth individuals (HNWIs), particularly in Asia Pacific, higher consumer spending on luxury and experiences, and innovations making yachts more affordable, efficient, and customizable. Established markets like North America and Europe are expected to remain dominant while emerging markets will drive much of the new demand.

Opportunities in New Markets

Key opportunities lie in tapping into new demographics and geographic markets, for example, targeting younger HNWIs and prioritizing experiences over material goods by promoting yachting as the ultimate lifestyle experience. Emerging yachting hotspots like China, Thailand, Brazil, and the UAE will be critical new demand sources. Industry players can capture more first-time yacht buyers by using virtual/augmented reality and digital technologies to make yachting more accessible and understood.

Challenges: Regulations, Costs, Sustainability

However, the industry also faces challenges. Tighter regulations on yacht emissions, safety, taxes, and licenses could raise costs. Rising fuel prices may deter growth. The high costs of buying, maintaining, docking, and crewing a yacht put it out of reach for many. Promoting sustainability, energy efficiency, and more affordable yachting options will be vital to the industry’s continued growth.

Overall, the yachting market looks poised for steady growth but will need to innovate and tap into new markets and demographics to realize its full potential in the coming years.

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Global Yacht Industry Assessment and Forecast, 2026 - Growing Number of Newer and Younger Billionaires Add to Growth Prospects - ResearchAndMarkets.com

DUBLIN--( BUSINESS WIRE )--The "Yacht Industry - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Yacht Industry Market to Reach US$10.8 Billion by the Year 2026

The yacht industry is expected to witness increased demand for yachts with long range capabilities and with ice-breaking hulls, given the growing desire of luxury yacht owners for adventure travels to remote locations such as Antarctica and Galapagos. As against the conventional compartmentalized layouts, there is a shift towards innovative designs with brighter and open-plan interiors. Yacht designs are also focused on outdoor areas for providing yacht travelers a direct and more intimate experience with the sea.

Owners are increasingly demanding high-tech features and gadgets to be integrated into their yachts. In addition to standard components such as jet skis, canoes and water skis, demand is rising for advanced gadgets such as hover boards, jetlev and skibob. Further, yachts with high-quality cinema rooms and media rooms are also gaining widespread popularity among potential customers.

Amid the COVID-19 crisis, the global market for Yacht Industry estimated at US$7.4 Billion in the year 2020, is projected to reach a revised size of US$10.8 Billion by 2026, growing at a CAGR of 6.2% over the analysis period. Super Yacht, one of the segments analyzed in the report, is projected to grow at a 6.5% CAGR to reach US$3.6 Billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Sport Yacht segment is readjusted to a revised 7.3% CAGR for the next 7-year period. This segment currently accounts for a 22.6% share of the global Yacht Industry market.

The U.S. Market is Estimated at $2.7 Billion in 2021, While China is Forecast to Reach $1.2 Billion by 2026

The Yacht Industry market in the U.S. is estimated at US$2.7 Billion in the year 2021. The country currently accounts for a 32% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.2 Billion in the year 2026 trailing a CAGR of 7.5% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.7% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.6% CAGR while Rest of European market (as defined in the study) will reach US$1.3 Billion by the end of the analysis period. While the presence of large number of wealthy and affluent people has a strong bearing on higher demand for yachts in the US and Europe, increased penchant for sea tours and marine entertainment among population also aids the yacht industry.

New and unexplored markets like Asia are attracting significant attention of yacht makers. Interest in yachts is surging, with the expanding UHNW and HNW population increasingly seeking to purchase these boats to augment their social status. One of the promising yachting hubs to emerge in recent times is Southeast Asia, with countries such as Indonesia and Thailand becoming popular destinations for luxury yachting. China is another market with significant growth potential in Asia-Pacific region. In China, yachting is emerging into a popular sport, with motor yachting particularly gaining immense acceptance.

Flybridge Yacht Segment to Reach $2.1 Billion by 2026

The flybridge concept is growing in acceptance mainly for conducting corporate meetings, as it offers all the required amenities like air conditioning. In the global Flybridge Yacht segment, USA, Canada, Japan, China and Europe will drive the 6.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.2 Billion in the year 2020 will reach a projected size of US$1.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$109.3 Million by the year 2026.

Select Competitors (Total 255 Featured)

• Azimut - Benetti Group
• Baglietto S.p.A.
• Bavaria Yachtbau GmbH
• Brunswick Corporation
• Cheoy Lee Shipyards Limited
• Dyna Craft Ltd.
• Ferretti S.p.A.
• Fr. Lurssen Werft GmbH & Co. KG
• HanseYachts AG
• Heesen Yachts
• Horizon Yacht Company
• ICON Yachts BV
• Kingship Marine Limited
• Overmarine Group
• Perini Navi S.p.A.
• Princess Yachts International plc
• Sanlorenzo S.p.A.
• Shanghai Double Happiness Yacht Co. Ltd.
• Sunbird Yacht Co. Ltd.
• Sunrise Yachts
• Sunseeker International
• Trinity Yachts

Key Topics Covered

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Impact of COVID-19 and a Looming Global Recession
• 2020: A Year of Disruption & Transformation
• As the Race between the Virus & Vaccines Intensifies, Review of the World Economy in 2021
• Leisure Marine Industry amid COVID-19 Pandemic
• Global Yachting Industry Maintains Balance Amid the Storm
• The Road Ahead
• An Introduction to Yachts, the Floating Luxuries
• Classification of Yachts
• Key Trends in Yachting Industry: In a Nutshell
• Yacht Industry to Benefit from the Increasing Wealth of UHNW Individuals
• Growing Number of Newer and Younger Billionaires Add to Growth Prospects
• Developed Regions: Key Revenue Contributors
• Yachting Set to Make Significant Gains in Developing Regions
• China Evolves into Fastest Growing Market for Yachts
• Motor Yachts Dominate the Scenario
• Major Production Hubs
• Competitive Scenario
• Recent Market Activity
• World Brands

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Growing Popularity of Nautical Tourism Underpins Market Expansion
• Super-Yachts Industry Exhibits Mixed Performance through Categories amid COVID-19
• Strong Gains for Explorer Yachts
• Rise in Demand for Superyachts to Trigger Growth
• Demand Shifts to Larger Superyachts
• A Few New Superyacht Models in the Market, Introduced in the year 2021
• Consumers Move to Shorter Holidays
• UHNW Individuals Transform the Luxury Yachts Market
• Trends Influencing the Luxury Yacht Building Industry
• Rising Focus on Sustainable Solutions
• Improving Yacht Management Efficiencies
• Exploration Yachting Picks Up
• Increasing Sophistication of Security Systems
• Enhanced Audiovisual Systems Becoming New Normal in Luxury Yachts
• Key Luxury Yachts Launched in 2021
• Democratization of Luxury: A Key Influencing Factor for Luxury Yachts Market
• Millennials Drive the Trend towards Electric Yachts
• Yachts Integrated with Innovations & Novel Design Elements Entice New Yacht Buyers
• Adoption of AI Solutions Gains Momentum
• Smart Yachts: A Key Area of Development
• Designers Get More Optimistic About Possibility of Fully 3D-Printed Yachts
• Gyroscopic Stabilization & Smooth Boat Glides
• Electric & Smarter Yachts
• New Materials & Other Possibilities
• Focus on Technologies to Improve Guest Experience
• New Generation of Super-Yacht Owners Brings New Changes to Yachting Industry
• Higher Demand for Multihulls Among Younger Yacht Owners
• High Demand for Greener and Sustainable Yachts
• Solar Power Emerges as Mega Trend in Global Yacht Industry
• Hybrid Propulsion Systems
• Increased Interest of Yacht Owners in Exploring More Remote Destinations
• Interest in Yacht Charters Poised to Grow in Post-COVID-19 World
• Growing Trend Towards Taking a Staycation on a Yacht
• Established Image of Yacht Chartering in Luxury Vacations Fuels Growth
• Sailing Yachts for Luxury Yacht Charter Experience
• Technological Advances Lead to New Generation of Sports Yachts
• Floating Villas and Artificial Semi-Submersible Islands Gaining Widespread Traction
• Advanced Cybersecurity Measures Gaining Prominence in Yacht Industry
• Surging Interest in Sailing among Women Opens Up Growth Avenues
• Support Yachts Find Favor
• Carbon Fiber Emerges as a Preferred Material for Yachts
• Composites Demand in Boat Building: On the Rise
• Marinas Look to Address Shortage of Berths for Megayachts
• Increasing Disposable Incomes to Propel Yacht Sales
• Yacht's Marine Electronics to Undergo Compelling Evolution Ahead

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

• Total Companies Profiled: 255

For more information about this report visit https://www.researchandmarkets.com/r/6hlm41

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

Global Yacht Charter Market is Segmented by Charter Type (Bareboat, Cabin, and Crewed), Yacht Type (Sailing Yacht, Motorboat Yacht, and Other Yacht Types), and Geography (North America, Europe, Asia-Pacific, and the Rest of the World). The Report Offers Market Size and Forecasts for the Yacht Charter Market in Value (USD Billion) for the Above Segments.

• Yacht Charter Market Size

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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 Market Trends

Augmentation in Fleet Size by Key Players is Propelling the Market Growth

Numerous yacht charter companies are adding new yachts to remain ahead of their competitors, as several charter companies have contracts with yacht manufacturers to ensure that the new yachts are provided to them for chartering. For instance,

• In February 2022, Imperial Yacht announced that with the collaboration of Amels and Damen Yachting, the launch of Project AMELS 242-07 is scheduled to be delivered this summer.
• In March 2021, Imperial Yacht announced the signing of a new 100-meter project, Project Titanium, in collaboration with The Italian Sea Group, the parent company of Admiral Yachts. Project Titanium, which is scheduled to be delivered in 2025.

With the addition of new yachts in the fleet, charter companies invested huge amounts in upgrading their fleet. For instance,

• In May 2021, Northrop & Johnson announced closing deals, including the 120-foot (37m) Benetti motor yacht TANUSHA, two Pershing yachts LOUNOR, and AMJU, the 130-foot (39.7m) classic superyacht ARIONAS from Lürssen.

Europe and North America are Anticipated to Lead the Market

Europe is preferred as one of the top destinations for marine culture. Northern Europe has a very rich culture of yacht charters. Countries, like Germany, Sweden, England, Denmark, Scotland, Ireland, Norway, and Russia, have the existence of a variety of options to select from motor yachts, luxury yachts, and crewed yachts. Several superyachts are also available for charter along with expedition/explorer yachts. The summer season is the finest time to charter a yacht in Europe.

Correspondingly, most clients in North America selected to visit chartered destinations to avail of large discounts. In the United States, consumers are oriented toward comfort over performance. The Northern American yachting season is from May to October, whereas in South America, it runs from January to September. Florida has one of the largest gatherings of private superyachts. It has two coastal borders, one in the Atlantic and the other in the Gulf of Mexico, and it holds around 30,000 lakes.

Several countries are reforming their tax regulation and rules, which is concerning the yacht charter market. For instance, in January 2020, the French Tax Authorities released an official tax bulletin with some new rules, which will affect charter contracts signed after March 30, 2020. The VAT will be charged at a 20% rate when the yacht is sailing in EU water bodies, and there will be no VAT while sailing in international waters. If any boat is in EU waters, it is fully subjected to VAT.

As developments in the current situation are constant and fluid, one would expect that certain measures are put in place, comprising governmental and legislations directives, which would give some assurance to the industry.

Yacht Charter Industry Overview

The yacht charter market is moderately fragmented, with many active players. The market is witnessing the emergence of many new start-ups. Some of the major players in the market are Burgess, Northrop & Johnson, and Dream Yacht Charter. The companies are expanding their presence by increasing their fleet size and partnering with small players. Key players are expanding their presence by tapping into new and unexplored markets.

• In February 2022, Northrop & Johnson made a partnership with NetJets. This partnership will provide customers with luxurious, comfortable, and memorable travel experiences.
• In May 2021, Ocean Independence announced the addition of SOULMATE to the Ocean Independence charter fleet. SOULMATE is an award-winning 34m Dreamline superyacht that combines an elegant Italian interior with comfort and safety.
• In May 2020, Ocean Independence announced that it added 44m Burger motor yacht PURE BLISS to its charter fleet. This seven-stateroom superyacht can accommodate 12 guests, with exceptional features, such as elevator access up to three decks and a great range of water sports toys.

Yacht Charter Market Leaders

Dream Yacht Charter

OceanBLUE Yachts Ltd.

Simpson Marine

Northrop and Johnson

*Disclaimer: Major Players sorted in no particular order

Yacht Charter Market News

• In January 2022, Northrop & Johnson announced a partnership with Master & Dynamic, a renowned audio brand. This partnership will provide a Northrop & Johnson client with Master & Dynamic headphones, especially curated playlists, alongside other wellness items ideal for enjoying onboard a luxury yacht.
• In January 2021, Burgess announced a new partnership with Marine Solutions in India. With this collaboration, Burgess aims to better serve its existing clients and build new relationships in India, enhancing its charter offering in the Indian Ocean.
• In January 2021, Northrop & Johnson announced a partnership with Ulysse Nardin to further enhance the offerings, experience, and value to the wealthy and discerning clientele.

Yacht Charter Market Report - Table of Contents

1. INTRODUCTION

1.1 Study Assumptions

1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

4.1 Market Drivers

4.2 Market Restraints

4.3 Industry Attractiveness - Porter's Five Forces Analysis

4.3.1 Threat of New Entrants

4.3.2 Bargaining Power of Buyers/Consumers

4.3.3 Bargaining Power of Suppliers

4.3.4 Threat of Substitute Products

4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

5.1 By Charter Type

5.1.1 Bareboat

5.1.2 Cabin

5.1.3 Crewed

5.2 By Yacht Source

5.2.1 Sailing Yacht

5.2.2 Motorboat Yacht

5.2.3 Other Yacht Sources

5.3 By Geography

5.3.1 North America

5.3.1.1 United States

5.3.1.2 Canada

5.3.1.3 Rest of North America

5.3.2 Europe

5.3.2.1 Germany

5.3.2.2 United Kingdom

5.3.2.3 France

5.3.2.4 Rest of Europe

5.3.3 Asia-Pacific

5.3.3.1 India

5.3.3.2 China

5.3.3.3 Japan

5.3.3.4 South Korea

5.3.3.5 Rest of Asia-Pacific

5.3.4 Rest of the World

5.3.4.1 Brazil

5.3.4.2 Mexico

5.3.4.3 United Arab Emirates

5.3.4.4 Other Countries

6. COMPETITIVE LANDSCAPE

6.1 Vendor Market Share

6.2 Company Profiles

6.2.1 Dream Yacht Charter

6.2.2 Yachtico

6.2.3 Asta Yachting

6.2.4 OceanBLUE Yachts Ltd

6.2.5 Simpson Marine

6.2.6 Ocean Independence

6.2.7 Imperial Yachts

6.2.8 Northrop and Johnson

6.2.10 Burgess

• *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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 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 Yacht Charter Market Research FAQs What is the current yacht charter market size. The Yacht Charter Market is projected to register a CAGR of 5.79% during the forecast period (2024-2029) Who are the key players in Yacht Charter Market? Dream Yacht Charter, OceanBLUE Yachts Ltd., Burgess, Simpson Marine and Northrop and Johnson are the major companies operating in the Yacht Charter Market. Which is the fastest growing region in Yacht Charter Market? Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Which region has the biggest share in Yacht Charter Market? In 2024, the Europe accounts for the largest market share in Yacht Charter Market. What years does this Yacht Charter Market cover? The report covers the Yacht Charter Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Yacht Charter Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. What drives the Global Yacht Charter Market growth? The Key Drivers of the Global Yacht Charter Market are: a) Rising disposable incomes b) Desire for unique travel experiences c) Growing interest in water-based activities and personalized travel experiences d) Increasing yachting infrastructure What are the key challenges for the Global Yacht Charter industry? Key Challengers in the Yacht Charter Industry are: a) Seasonal variations in demand b) High operational costs c) Stringent Regulations d) Environmental concerns, and e) fluctuating fuel prices Our Best Selling Reports Cardiac Mapping Market Dental Consumables Market Diagnostic Imaging Market Laboratory Information System Market Medical Cameras Market Metagenomics Market Oxygenated Solvents Market Plastic Additives Market Plastic Antioxidant Market Water Soluble Fertilizer Market Yacht Charter Industry Report The global yacht charter market is on a significant upward trajectory, fueled by the surging interest in recreational yachting and marine tourism. Offering a wide array of yacht types such as motor, sailing, and luxury yachts with lavish amenities, it serves diverse segments including leisure and business. The market, segmented by contract type, yacht size, and end-user preferences, provides both bareboat and crewed charters to meet varying client needs for privacy and independence. Dominated by Europe and North America, due to their robust tourism sectors and the affluent demographic seeking premium cruising experiences, the market is also benefiting from an increase in fleet sizes by leading players and supportive marine tourism policies. However, it faces hurdles like high charter costs and region-specific tax regulations. Yet, with a growing appetite for luxury and marine leisure activities, the yacht charter market is set for ongoing growth. For detailed market share, size, and revenue growth insights, Mordor Intelligence™ offers comprehensive industry reports, including forecasts and historical overviews, available as free PDF downloads. Yacht Charter Market Report Snapshots Yacht Charter Market Share Yacht Charter Companies Please enter a valid email id! Please enter a valid message! Yacht Charter Market Get a free sample of this report Please enter your name Business Email Please enter a valid email Please enter your phone number Get this Data in a Free Sample of the Yacht Charter Market Report Please enter your requirement Thank you for choosing us for your research needs! A confirmation has been sent to your email. Rest assured, your report will be delivered to your inbox within the next 72 hours. A member of our dedicated Client Success Team will proactively reach out to guide and assist you. We appreciate your trust and are committed to delivering precise and valuable research insights. Please be sure to check your spam folder too. Sorry! Payment Failed. Please check with your bank for further details. Add Citation APA MLA Chicago ➜ Embed Code X Get Embed Code Want to use this image? X Please copy & paste this embed code onto your site: Images must be attributed to Mordor Intelligence. Learn more About The Embed Code X Mordor Intelligence's images may only be used with attribution back to Mordor Intelligence. Using the Mordor Intelligence's embed code renders the image with an attribution line that satisfies this requirement. In addition, by using the embed code, you reduce the load on your web server, because the image will be hosted on the same worldwide content delivery network Mordor Intelligence uses instead of your web server. [email protected] +1 909 414 1393 Report Details Table Of Content Request Free Sample Global Yacht Market by Type (Leisure Boat, Business Boat, Police Patrol Boat, Other), By Application (Business, Household, Patrol Law Enforcement, Other) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030 Table of Content Free Sample The global yacht market is expected to grow at a CAGR of 3.5% during the forecast period, from 2021 to 2030. The market is driven by the increasing demand for leisure boats and business boats. The growth in this segment is attributed to the increase in disposable income and rise in tourism activities across the globe. The global yacht market has been segmented on the basis of type, application, and region. Based on type, it has been classified into leisure boat, business boat, and police patrol boat; based on application it has been classified into household use and patrol law enforcement; based on region it has been classified into North America (NA), Latin America (LA), Europe (EU), Asia Pacific (APAC) & Middle East & Africa (MEA). Some Of The Growth Factors Of This Market: The global economy is recovering and the world's wealthiest people are spending more on luxury goods. The number of billionaires in the world has increased by a third since 2009, with many of them living in Asia and Europe. Wealthy people are looking for ways to diversify their investments, which includes buying yachts as a status symbol or as an investment opportunity for their children or grandchildren to inherit one day. Yacht owners are increasingly using their boats for business purposes such as hosting meetings, conferences and events on board, which is driving demand for larger yachts that can accommodate more guests and offer better amenities than smaller vessels can provide 5.Luxury yacht builders have been expanding production capacity to meet demand from wealthy buyers who want new boats delivered quickly. Industry Growth Insights published a new data on “Yacht Market”. The research report is titled “ Yacht Market research by Types (Leisure Boat, Business Boat, Police Patrol Boat, Other), By Applications (Business, Household, Patrol Law Enforcement, Other), By Players/Companies Azimut Benetti, Baglietto, Bavaria Yachtbau, BENETEAU, Brunswick, Cheoy Lee Shipyards, Christensen Shipyards, Dyna Craft, Feadship, Ferretti, FIPA Group, Fr. Lurssen Werft, Blohm+Voss Shipyards, HanseYachts ”. Scope Of The Report Yacht Market Research Report Leisure Boat, Business Boat, Police Patrol Boat, Other Business, Household, Patrol Law Enforcement, Other Azimut Benetti, Baglietto, Bavaria Yachtbau, BENETEAU, Brunswick, Cheoy Lee Shipyards, Christensen Shipyards, Dyna Craft, Feadship, Ferretti, FIPA Group, Fr. Lurssen Werft, Blohm+Voss Shipyards, HanseYachts North America, Europe, APAC, Latin America, MEA 2021 2019 to 2020 (Data from 2010 can be provided as per availability) 2030 237 166 Yes, the report can be customized as per your need. Global Yacht Market Report Segments: The global Yacht market is segmented on the basis of: Leisure Boat, Business Boat, Police Patrol Boat, Other The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market. Applications Business, Household, Patrol Law Enforcement, Other The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment. Some of the companies that are profiled in this report are: Azimut Benetti Bavaria Yachtbau Cheoy Lee Shipyards Christensen Shipyards Fr. Lurssen Werft Blohm+Voss Shipyards HanseYachts Highlights of The Yacht Market Report: The market structure and projections for the coming years. Drivers, restraints, opportunities, and current trends of market. Historical data and forecast. Estimations for the forecast period 2030. Developments and trends in the market. Leisure Boat Business boat, police patrol boat. By Application: Patrol Law Enforcement Market scenario by region, sub-region, and country. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape. Analysis regarding upstream raw materials, downstream demand, and current market dynamics. Government Policies, Macro & Micro economic factors are also included in the report. We have studied the Yacht Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030. Regional Analysis North America Asia Pacific Middle East & Africa Latin America Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly. The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions. How you may use our products: Correctly Positioning New Products Market Entry Strategies Business Expansion Strategies Consumer Insights Understanding Competition Scenario Product & Brand Management Channel & Customer Management Identifying Appropriate Advertising Appeals 8 Reasons to Buy This Report Includes a Chapter on the Impact of COVID-19 Pandemic On the Market Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market Implemented Robust Methodology to Prepare the Report Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report Provides Information About the Top-winning Strategies Implemented by Industry Players. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats Customization of the Report Available Frequently Asked Questions? A yacht is a large, usually luxury sailing vessel. Some of the major companies in the yacht market are Azimut Benetti, Baglietto, Bavaria Yachtbau, BENETEAU, Brunswick, Cheoy Lee Shipyards, Christensen Shipyards, Dyna Craft, Feadship, Ferretti, FIPA Group, Fr. Lurssen Werft, Blohm+Voss Shipyards, HanseYachts. The yacht market is expected to grow at a compound annual growth rate of 3.5%. Report Payment Single User $ 3300 Multi User $ 4200 Corporate User $ 5500 Buy Request For Sample Ask for discount, enquiry before buying, related reports. Global Paper Cup Market by Type (Air Pocket Insulated, Poly-Coated Paper, Post-Consumer F... Global Packaged Air Conditioners Market by Type (Packaged AC with Water Cooled Condenser,... Global Chalk Boxes Market by Type (Braided Lines, Twisted Lines), By Application (Industr... 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Christmas and New Year Offer : Single User - 20% Discount | Corporate User - 25% Discount | Regional Report - 15% Discount Yacht Market: Global Industry Analysis and Forecast (2024-2030) “ Christmas and New Year Offer : Single User - 20% Discount | Corporate User - 25% Discount | Regional Report - 15% Discount ” Request Sample Customization Yacht Market Overview Yacht Market Dynamics Yacht market regional insights, yacht market segment analysis, yacht market competitive landscape. Yacht Market Scope: Inquire before buying Yacht Market Details 2023 2024-2030 2018 to 2023 US$ 11.92 Bn. 6.58% US$ 18.63 Bn. by Type Super Yacht Flybridge Yacht Sport Yacht Long Range Yacht by Propulsion Sailing Yacht Motor Yacht by Yacht Length Up to 20 Meters 20-50 Meters Above 50 Meters Yacht Market by Region Yacht key players are:, about this report. Report ID 124963 Category Automotive and Transportation Published Date January 2024 Updated Date Over all Rating "Rating is based on reviews" INQUIRE BEFORE BUYING Related Reports Our clients. 124963 Automotive and Transportation January 2024 Report Payment --> --> --> --> --> $ 4600 $ 3500 $ 6900 Get call back from us IT & Telecommunication Electronics Chemical & Material Energy & Power Food & Beverages Automotive & Transportation Aerospace & Defense Life Science Biotechnology Automation & Process Control Mining & Metals Engineering Equipment Medical Devices Consumer Goods & Services Semiconductor Subscription Model Competitive Intelligence Advance Analytics Technologies Go-To-Market Strategy Market Potential Mergers and Acquisitions Pricing Analysis Supply Chain Consultation Press Releases The future of yachting: Yacht market trends in a post pandemic world Home > LUXURY/UHNW Trends > The future of yachting: Yacht market trends in a post pandemic world Posted by Joanna Lewis , 30 Jun 2022 The yachting industry has enjoyed record growth over the past couple of years. While the pandemic restricted travel initially, it created a desire for more exclusive and private holidays amongst the world’s richest. The lockdown also enhanced individuals’ willingness to seize the moment and seek freedom on the sea aboard a luxury yacht with close family and friends. Not only has this surge in yacht sales and charters been driven by a desire to enjoy more exclusive and private experiences, but it has also been driven by an uptick in global wealth. There were 670 new billionaires in 2020 and more than 295,400 Ultra-High-Net-Worth-Individuals, according to the 2021 Wealth X Report. Additionally, historically low-interest rates have provided cheap capital, further fuelling demand for luxury goods, although this driver is set to change with rising interest rates. With this increased spending power, many of the world’s most coveted luxury brands have witnessed a boost in sales, and the yachting industry, too, has reaped the rewards. Relevance Yacht’s partnership with YATCO , the Official MLS and Ultimate SaaS Platform of Yachting, provides us with the latest yacht market trends and post pandemc industry insights. Here we explore some of the latest yacht industry trends identified by YATCO. Yacht market trends : sales  Yacht sales continue to be robust. 2021 saw an astonishing 72 vessels with price increases, breaking historical records and this trend is continuing in 2022. The most recent YATCO data – from May 2022 – shows that a total of 100 yachts were sold in this month alone, with a combined asking price of more than US$179 million. There were also 350 new brokerage yachts for sale, and 49 listings are currently under contract – a 23% increase compared to April 2022. For comparison, looking at the same month in 2021, there were 39 yachts of 79ft+ sold with a combined asking price of more than $400 million, 102 new listings and 68 listings under contract. “All the Relevance yacht brokerage clients have seen incredible growth in yacht sales, yacht charters, and new build contracts since 2020,” Rumble Romagnoli, President at Relevance said. “Is the world getting richer? Are people wanting to enjoy their money more? Is the marketing of high value goods more effective through digital channels? I think we have a situation where all these factors are playing their part.”   Yacht market trends : charter  The yacht charter market continues to experience growth. An increasing number of charter-only firms are joining YATCO to sell yachts on behalf of their clients, and prices are increasing due to demand outstripping supply. According to BusinessWire, the global yacht charter market is estimated to be worth around US$16.1 billion this year and is expected to reach around $21.65 billion by 2027. Post pandemic trends The latest data from YATCO shows that expedition yachts are the most sought-after by yacht owners and charterers. This reflects an increasing trend amongst yachting enthusiasts to travel beyond the world’s most popular blue water havens and explore more remote areas. There is also a growing influx of new yacht owners and charter clients from the tech, crypto, Non-Fungible-Tokens, and blockchain community. These clients are much younger than the traditional yacht industry audience. They are typically in their mid-20s and early 30s, are new to the world of yachting and seek trusted professionals who can provide expert advice on the entire eco-cycle of yachting, from chartering to owning a luxury vessel. Yacht brokerages are responding to this new audience by embracing payment in crypto. For example, global yacht brokerage YACHTZOO has recently partnered with BitPay to offer payment for select yachts for sale and charter in cryptocurrency. This younger audience is also the key driver of the yachting industry becoming greener and more eco-friendly. As such, sustainable yachts, including ones that boast state-of-the-art hybrid propulsion systems, are increasingly popular. This trend for sustainability is reflected across the entire yachting industry, including builders, brokers, and even marinas, all implementing eco-friendly initiatives. Yacht market trends : a new digital era Driven by Covid lockdowns, the traditional way of doing business has changed, with the past few years seeing a global rise in the number of companies investing in new websites. The yachting industry has embraced this new digital era, finding new ways of selling and chartering yachts virtually, demonstrating the importance of a robust online presence and digital marketing strategies. An increasing number of sales are being made online via social media platforms, with inquiries for second-hand and new build yachts on popular platforms such as Instagram, Facebook, and LinkedIn. YATCO support yachting professionals digitally by providing top software solutions that deliver results. Relevance Yacht works with some of the leading yacht industry brands helping to support them with effective digital marketing strategies. If you want to learn about our full portfolio of marketing services, then contact the team at Relevance Yacht. Read more articles by this author Transportation & Logistics Yacht Charter Market "Market Intelligence for High-Geared Performance" Yacht Charter Market Size, Share & COVID-19 Impact Analysis, By Yacht Type (Motor Yacht, Sailing Yacht, and Others), By Yacht Size (Up to 40m, 40 to 60 m, and Above 60m), By End-use (Leisure, Business, and Others), By Contract Type (Bareboat and Crewed), and Regional Forecasts, 2023-2030 Last Updated: June 10, 2024 | Format: PDF | Report ID: FBI105123 Segmentation Methodology Infographics Request Sample PDF KEY MARKET INSIGHTS The global yacht charter market size was valued at USD 7.22 billion in 2022. The market is projected to grow from USD 7.59 billion in 2023 to USD 11.06 billion by 2030, exhibiting a CAGR of 5.5% during the forecast period. A yacht charter is a service for hiring boats for recreational and leisure purposes. Yachts can be privately owned by individuals or companies or rented for charter. Professionally crewed yachts are equipped with luxurious amenities. These yachts are chartered for corporate and leisure purposes and offer a seamless luxury experience with the highest comfort and standards. Yachts are used for sailing and fishing in some parts of the world, especially in European countries. They offer all the benefits, from great adventures to total relaxation. OEM constantly develops high-speed and luxury feature yachts to meet the increasing demand for marine tourism and water sports activities. Yacht rental companies also offer convenient booking of charter yachts through online platforms and mobile applications. Therefore, the market is expected to become popular in the coming years. COVID-19 IMPACT Decrease in Yacht Charter Demand Amid COVID-19 to Hamper Market Growth The tourism segment witnessed a decline in growth during 2020 owing to adverse effects on the global tourism industry and a decline in the number of tourists visiting tourist places. The COVID-19 pandemic has severely impacted the travel and tourism industry, especially the yacht charter industry, which has stalled due to the rapid spread of the virus worldwide. This pandemic has caused vast uncertainty in the industry and a panic situation for all the members of the industrial value chain involved in it as they cannot forecast the resuming of the yacht rental business. Industry players are taking steps to overcome the uncertainty created by the pandemic, including safety and precautionary measures in charter contracts. However, people were optimistic that the charter market will recover soon once the pandemic eases. In 2022, the U.S. yacht sales started normalizing after witnessing solid growth in the past two years. In 2022, consumer spending patterns changed from yachting activities to other accessible activities, travel, music concerts, and sporting events. In Europe, Asia Pacific, Latin America, and the Middle East & Africa, the growth of yacht charter slowed down during 2020 due to uncertainties. However, the market returned to normalcy and will show strong growth over the next few years. LATEST TRENDS Request a Free sample to learn more about this report. Favorable Trends Associated with Marine Tourism and Private Island Resorts to Aid Market Augmentation Marine tourism has a positive impact on economic growth in several ways. It also earns foreign exchange and contributes to government revenue. It creates jobs and makes an essential contribution to the local economy. In addition, it provides various sociocultural benefits such as strengthening communities and promoting sustainable tourism. Many countries worldwide are developing policies to strengthen the coastal tourism sector due to climate change and environmental degradation. The maritime policy of the European Union supports the growth of coastal tourism and marine economic activity. For example, in January 2021, the National Oceanic and Atmospheric Administration (NOAA) finalized the Blue Economy Strategy Plan, 2021-2025 to accelerate the growth of the American Blue Economy. This strategy focuses on five divisions, ocean exploration, tourism and recreation, maritime transport, water sports competitiveness, and coastal resilience. India also plans to develop 78 marine tourist attractions in the coming years. Such initiatives will encourage the growth of marine tourism in the future and thus support market growth.                                          DRIVING FACTORS  Growing Popularity of Recreational Yachting and Marine Tourism Activities to Aid Market Expansion The increasing disposable income of customers and the growing inclination toward marine tourism and leisure activities, such as sailing, are aiding market expansion. Recreational boating has been gaining popularity for the past few years, paving the way for yacht rental services. Moreover, advanced booking systems are permitting customers to charter yachts at the time of booking flight tickets, which is ultimately propelling the growth of the market. Beneficial government initiatives and programs to boost marine tourism are expected to spur market growth. For example, the Indian government will develop infrastructure and services to support local tourism and port city tours to encourage cruise travel and increase maritime tourists to 1.5 million by 2030-31. The Indonesian government has also updated its maritime tourism policy by abolishing the CAIT license (Indonesian Territorial Customs Authorization). The policy predicts a significant increase in yacht visits to Indonesia, generating over USD 500 million in revenues. RESTRAINING FACTORS High Costs of Yacht Charter to Hinder the Market Growth  Yacht has a base rate or a weekly rate for renting it. The cost of a yacht charter depends on several factors such as the type of yacht, crew required, charter destination, local taxes, and basic costs. Therefore, there is a wide range of basic rates for charters. Additionally, charter rates range from USD 10,000 per week for smaller sailing yachts and catamarans to USD 150,000 per week for the most luxurious motor superyachts. In addition, hidden costs, such as taxes and Value-Added Tax (VAT), insurance, crew gratuities, and meal prepayments, are not mandatory but cost approximately 15-30% of the base fare and are collected before the charter. For instance, the Bahamas announced a new tax rate of 10% VAT for all foreign-flagged charter yachts. This will be enforced on all charter contracts signed after the 1st of July 2022. This new addition to the 4% charter fee will total an additional 14% cost. It is similar to an expense account the captain can access during the charter. Such cost is a barrier to many developing countries’ customers, further restraining the yacht charter market growth. SEGMENTATION By contract type analysis. Bareboat Segment to Hold a Major Market Share Due to the Privacy Offered  Based on contract type, the market is segmented into bareboat and crewed. The bareboat segment holds the largest share of the global market in value due to various benefits such as more independence and privacy offered by bareboat compared to crewed boats . A bareboat charter is an arrangement in which an individual charters a vessel and steers the boat without other crew or services. The individual or group renting the boat from the owner is responsible for caring for the boat. Many bareboat charter companies also offer courses to train a person in basic navigation skills and prepare for the bareboat charter. Sometimes, these companies also offer captain charters. Most chartered bareboat yachts are up to 40 meters in length. People typically rent bareboat yachts for fishing, sporting events, or sailing from one destination to another. Crewed is the fastest-growing segment. Rising demand for superyachts, increasing cruise line participation, and hybrid business models are the factors responsible for growth of this segment. By Yacht Size Analysis To know how our report can help streamline your business, Speak to Analyst Up to 40m Segment to Capture the Largest Market Share Due to Affordability of Small Yacht Charters Based on yacht size, the market is classified into up to 40m, 40 to 60m, and above 60m. The up to 40m segment accounts for the largest global market share. These yachts can be utilized for both personal activities in competitive and recreational boating activities purposes. The 40m charter has various advantages, including wind sailing capabilities that ensure wind direction and conserve fuel. End-users also favor yachts of up to 40m due to its affordability, low maintenance costs, fixed installation in shallow waters, and ease of use with low mooring costs.  Rapid urbanization, rising living standards, growing personal disposable incomes, and increasing upper-class population have increased individuals' ability to spend on luxury goods and leisure activities. Therefore, the yacht services market has also seen a significant increase in demand in recent years. Observed trends in yacht construction indicate that the average length of yachts is increasing by 3 cm each year. This is owing to the rising demand for superyachts and mega yachts in most developed countries and the overall surge in tourism in these regions. Therefore, the 40-60m segment is expected to grow significantly, while the above 60m segment exhibited the fastest growth rate during the forecast period. By Yacht Type Analysis Motor Yacht Segment Dominates the Market Owing to Demand for Recreational Activities The market is segmented based on yacht type into motor yacht, sailing yacht, and others. The motor yacht segment holds the largest share globally and is expected to retain its leading position in the market during the forecast period. This growth can be attributed to the growing demand for motor yachts for personal and recreational activities in various countries worldwide. Motor yachts offer several advantages such as enhanced speed, power, and the ability to cover longer distances in less time. Moreover, motor yachts can be sailed in shallow water, allowing customers to navigate almost all coastlines and narrow and shallow creeks. Furthermore, increasing sporting activities, boating events, and tournaments create high demand for motor yachts. The sailing yachts segment is expected to show steady growth in the market owing to the growing demand for environment-friendly yachts among people. Fuel emissions are a major pollutant in modern times, and the yacht industry contributes a substantial amount of the same. Moreover, sailing yachts are cheaper than other yachts and can travel more distances than motor yachts. By End-user Analysis Leisure Segment to Account for the Largest Market Share Due to the Rising Number of High Net Worth Individuals The market is further segmented into leisure, business, and others based on end-user. The leisure segment held the major global market share in 2022 due to increased tourism. The increasing inclination toward luxury cruising drives the yacht rental industry, especially from High-Net-Worth Individuals (HNWI) and Ultra-High Net Worth Individuals (UHNWI) worldwide. The emergence of new tourist destinations offering luxury cruises and beautiful scenery has encouraged wealthy and ultra-rich people worldwide to discover these tourist destinations. Moreover, leading companies focus more on providing enhanced and extensive luxury cruising for their customers by developing premium features such as infrastructure, internet facilities, and bars and restaurants, which is expected further to boost the yacht industry in the leisure segment. The business segment is gaining popularity in the market as the yacht business is a simple concept and is structured much like any other profit-earning business. Higher-class individuals or high-tax payers are increasing their investment in yachts and operating them actively for profit through third-party management services or themselves. Significantly, the U.S. buyers who fall under the high-income tax brackets choose this ownership option. For instance, in April 2020, MYSEA announced its appointment as the Global Charter Central Agent of M/Y FLEUR Yacht with several exceptional facilities such as a retractable roof, Jacuzzis, and outdoor cinema, among others. REGIONAL INSIGHTS  Europe Yacht Charter Market Size, 2022 (USD Billion) To get more information on the regional analysis of this market, Request a Free sample Europe Dominates the Market Due to Well-Established Tourism Industry in the Region Geographically, the market is segmented into Asia Pacific, Europe, North America, and the Rest of the World. Europe held the largest yacht charter market share in 2022. The region will likely dominate the market due to the high growth of sea tourism and the rising number of tourist destinations. Countries, such as Croatia, Greece, France, Spain, and Italy, are the major tourist destinations. The increasing popularity of fishing activities and water sports and rising number of upper-class individuals are expected to drive the development of the market in the region. European flight bookings, cooperation with online demand for charter service providers, and increased craft permits issued are expected to boost market growth. The region's wealthy population is also likely to drive market growth.  North America holds the second most important position in the market as the region's diverse coastlines have great cruise destinations. The U.S. ranks first in this regional market due to the presence of major charter hubs in the country. The Asia Pacific yacht charter market is expected to record the highest CAGR in the coming years. This growth has been attributed to the rapid increase in urbanization, rising living standards, and rising disposable income, leading to the evolution of individual tastes. The growing popularity of recreational activities, such as fishing and water sports, in Thailand, Malaysia, Singapore, China, Japan and Australia, and increasing maritime tourism, present excellent opportunities for yacht hiring companies. Moreover, aggressive government initiatives to develop maritime tourism, especially in countries, such as China and India, are expected to boost market growth. KEY INDUSTRY PLAYERS Significant Product Offerings by Dream Yacht Charter to Enhance its Market Prospects Dream Yacht Charter is the world's leading yacht specialist in charter management, brokerage, and private yacht ownership. Loic Bonnet founded the company in 2000 and is headquartered in Maryland, U.S. The company is a pioneer in providing easy and hassle-free charters, expert advice, and bespoke solutions. The company is well known for offering new sailing destinations and a wide range of charters, including Captain, Bareboat, Sabbatical, Crewed, and Cabined. The company currently owns over 1,000 yachts in around 60 locations worldwide. The company owns some of the world's largest yacht builders, including Dufour, Aquila, and Fontaine Pajot. In 2019, the company launched the MoreWomenAtSea campaign to encourage more women to go to sea and get a sailing education. In February 2020, the company announced a partnership with river cruise specialist Les Canalous to expand and facilitate boat holidays on canals across Europe. LIST OF KEY COMPANIES PROFILED: Worldwide Boat LLC (U.S.) Dream Yacht Group (U.S.) Northrop & Johnson (France) Sailo Inc. (Monaco) Camper & Nicholsons (Japan) Ocean Independence (Switzerland) Burgess Yachts (U.K.) The Moorings Limited (U.S.) Boatbookings (U.K.) Ritzy Charters LLC (U.S.) KEY INDUSTRY DEVELOPMENTS: January 2023: Camper & Nicholsons joined Yacht Club de Monaco to consolidate aims to foster innovation and spearhead a sustainable future for the yachting sector. This project brings together key stakeholders from the yachting sector for economic and sustainable growth. January 2023: Ocean Independence added 40m ATLANTIKA and 37m SUD to the Ocean Independence charter fleet. ATLANTIKA now accommodates up to 10 guests in five comfortable suite staterooms and offers entertainment and tranquility split across all decks. September 2022 : The Biograd company Angelina Yacht Charter acquired 85% share in the Split-based charter company Ultra Sailing. With this acquisition, it will be the largest charter company in Croatia. The joint fleet of yachts will reach more than 260 vessels. January 2022 : The new luxury yacht Berg was launched. This will be 55m long and become the first luxury charter yacht to cruise on the Nile. Berge’s charter route cruises between Luxor and Aswan, taking in the scenery of the most famous stretch of river, showcasing architecture and natural beauty. January 2021 : Burgess declared a new partnership with Marine Solutions in India. With this collaboration, Burgess aims to serve its existing clients better and build new relationships in India, enhancing its charter offering in the Indian Ocean. REPORT COVERAGE An Infographic Representation of Yacht Charter Market To get information on various segments, share your queries with us The market research report provides a detailed market analysis and focuses on key aspects such as leading companies, product types, and leading product applications. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the market's growth in recent years. Report Scope & Segmentation   2019-2030 2022 2023 2023-2030 2019-2021 CAGR of 5.5% from 2023 to 2030 Value (USD billion) Frequently Asked Questions Fortune Business Insights research report says that the market was valued at USD 7.22 billion in 2022 and is projected to reach USD 11.06 billion in 2030. The market is expected to register a CAGR of 5.5% during the forecast period. Growing popularity of recreational yachting and marine tourism activities will drive the global market growth. Europe led the market in 2022. Seeking Comprehensive Intelligence on Different Markets? Get in Touch with Our Experts STUDY PERIOD: 2019-2030 BASE YEAR: 2022 HISTORICAL DATA: 2019-2021 NO OF PAGES: 140 Personalize this Research Granular Research on Specified Regions or Segments Companies Profiled based on User Requirement Broader Insights Pertaining to a Specific Segment or Region Breaking Down Competitive Landscape as per Your Requirement Other Specific Requirement on Customization Automotive & Transportation Clients Related Reports Leisure Boat Market Small Boats Market Electric Boat Market Client Testimonials “We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.” “Thanks a million. 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It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.” Get in Touch with Us +1 424 253 0390 (US) +44 2071 939123 (UK) +91 744 740 1245 (APAC) [email protected] Request Sample Sharing this report over the email The global yacht charter market size was valued at $7.22 billion in 2022 & is projected to grow from $7.59 billion in 2023 to $11.06 billion by 2030 Read More at:- More From Forbes Italian nautical industry exceeds $29 billion, study says. Share to Facebook Share to Twitter Share to Linkedin PORTO CERVO, ITALY - AUGUST 22: An aerial view of a bay full of boats in Costa Smeralda illustrates ... [+] the popularity of yachting along the Italian coastline. A recent study by Altagamma analyzed impacts the Italian Nautical Industry have on Italy's economy. (Photo by Emanuele Perrone/Getty Images) The Altagamma Foundation knows luxury. Particularly, Italian luxury. Since 1992, the organization has studied the high end Italian brands in fashion, design, jewelry, food, hospitality, automotive, yachts, and wellness. Their mission? To increase competitiveness of the high end industry, contributing to Italy's economic growth. Released on June 25th, 2024, an Altagamma-Deloitte study of the Italian Nautical Industry revealed that the industry grew three times faster than Italy's GDP between 2012 and 2022, and that its overall impact is 2.7 times as much as its direct impact, six times greater than its employment impact. Joanna Vitelli, Vice President of the Nautical Sector of the Altagamma Foundation is also Chair for ... [+] the Azimut|Benetti Group. (Photo by Mandoga Media/picture alliance via Getty Images) Presented by Giovanna Vitelli, Vice President of Altagamma for the nautical sector, and Tommaso Nastasi, Senior Partner of Deloitte, the study pointed to steps the industry might take to grow those numbers even bigger. President of Altagamma Matteo Lunelli was also present. Vitelli is also Chair of the Azimut|Benetti group, a top yacht builder both in Italy and around the world. The Italian Nautical Industry Not only is yachting a huge economic force in Italy, it also employs 157,000 people. Looking at the industry with an eye toward growth opportunities and its value chain, there are some interesting numbers that shape the discussion. Best High-Yield Savings Accounts Of 2024 Best 5% interest savings accounts of 2024. Italian new build production represents 50 percent of the global superyacht portfolio. Think professional services requiring highly technical knowledge and expertise generating €11.4 billion ($12.2 billion) and engaging more than 54,000 employees, directly, indirectly, and in satellite functions. Yachts and marine tourism boast attraction that brings €16.3 billion ($17.5 billion) and 103,000 people to the sector. The yachts come for the international scene as well as manufacturing excellence in refits, accounting for one-third of on-the-ground tourism spending. LAVAGNA, ITALY - Aerial view, from helicopter, of boats moored in the marina, the most important ... [+] port in Liguria, in the province of Genoa in Lavagna, Italy. Italy's nearly 8000 km (5,000 miles) coastlines and islands stretch across the Mediterranean Sea and attract large numbers of both local and foreign tourists. (Photo by Fabrizio Villa/Getty Images) The report found that a main expansion area for yachting revolves around development of marinas. Analysis found that just 30 percent of available berths in Italy are located in marinas that are able to receive yachts and superyachts with appropriate technical facilities and interesting tourism opportunities. Bigger Yachts Make Bigger On-Ground Impacts The study found that yachts over 18 meters make up 65 percent of the total economic impact, 80 percent of which is in shipbuilding. While this sector only owns 2 percent of the yachts visiting Italy, it spurs 55 percent of the downstream value coming from the use of the yachts. Additionally, on the ground spending related to large yachts, of which only 6.5 percent sail under an Italian flag, averages 26 times greater than the average across the nautical sector. Analysis revealed large yachts registered in Italy, crewed by Italians, visiting the coastline for at least 10 weeks per year, delivers a €1.6 million ($1.7 million) overall contribution. Encouraging more yachts to visit will have obvious benefits. Superyachts like this one in Sardinia. Italy bring considerable economic benefits to Italy during ... [+] their visits. (Photo by: Carlo Borlenghi/REDA&CO/Universal Images Group via Getty Images) In 2022, the world's superyacht fleet, embracing those greater than 24 meters, reached 6,400. Approximately 30 percent, or 2,000, visited the Italian coasts. That superyacht sector forms the highest spending segment across multiple goods categories, with yachts greater than 24 meters spending €10-100K ($11-108K) and yachts over 60 meters spending five times that. Altagamma Recommendations La Spezia, Italy - Closeup of the super yacht Main moored in the Port of La Spezia, Liguria, Italy, ... [+] sporting the Italian flag. Altagamma would like to see more yachts register under the Italian flag as one of many ways to increase the industry's contribution to the economy. Presented by Joanna Vitelli, the organization suggested working to bring yacht charter VAT rates in line with those charged by tourism and hotels. They also suggested updating regulations and procedures to encourage more robust Italian flag registration. About Altagamma The organization has an impressive member list, embracing brands from Alfa Romeo and Brioni, to Gucci, Riva, and Versace, with a partners list that includes such august names as American Express, Bain & Co, JPMorgan, and Pirelli. IMOLA, ITALY - Matteo Lunelli, President of Altagamma and CEO of Gruppo Lunelli/Ferrari Trento with ... [+] Simone Mase, General Manager of Ferrari Trento on the grid during the F1 Grand Prix of Emilia-Romagna at Autodromo Enzo e Dino Ferrari Circuit on May 19, 2024 in Imola, Italy.(Photo by Qian Jun/MB Media/Getty Images) Every year, the group researches eight areas, producing the full study reports to members only, with abstracts and outlines distributed to others. 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Please read the full list of posting rules found in our site's  Terms of Service. • SUBSCRIBE •MAGZTER •NEWSLETTER •CONTAC T US Asia's leading yachting lifestyle media More results... Wise Equity announces majority stake in Absolute Yachts June 27, 2024 Wise Equity’s funding will support new growth for Absolute, the Italian manufacturer of luxury motoryachts. Absolute has built its success on navetta, flybridge and coupé yachts Wise Equity has announced it will acquire a majority stake in Absolute, the northern Italy-based shipbuilder. The investment, which will be made via its Wisequity VI fund, will assist with the Italian manufacturer’s plans for growth and development. With the agreement, Wisequity V1 will acquire a major stake in the luxury-yacht maker. Absolute, founded in 2002 by Sergio Maggi and Marcello Bè, is a leading manufacturer of navetta, flybridge and coupé yachts from 47 to 75ft. All yachts are currently made in-house at its production plant in Piacenza. The manufacturer has seen increasing growth and expects to close out this financial year in August with more than €110 million in revenue. It says of that sum, about 90 per cent was made abroad. The manufacturer, which has a sales subsidiary in the United States, operates in more than 30 countries. The transaction involves the acquisition of a majority stake by Wisequity VI and its co-investors, the significant reinvestment of the majority of the existing shareholders and the presence of Angelo Gobbi as Absolute’s Honorary Chairman, to ensure the manufacturer’s strategic and managerial continuity. Gobbi was jovial about the investment. “Absolute’s motto is: ‘he who hesitates, is lost!’” he said following the announcement. “That is why for some time now we have been reflecting on the future of Absolute. We must continue to evolve, as we have always done.” Wise Equity, he said, was an ideal partner to strengthen and support the manufacturer through its next phase of growth. Wise Equity SGR manages closed-end investment funds that invest in small and medium-sized companies, with a special focus on Italy. It currently has three funds under management. Wisequity VI was launched in May 2023 with a total commitment of €400 million. The Absolute deal is its fourth investment. absoluteyachts.com/en/ Editor's Picks Yacht insurance is money well spent Sunreef’s 60 Power Eco Powercat players are multiplying Asiamarine Celebrates Lagoon’s 40th birthday and becomes official dealer CL Yachts unveils new flagship CLX99 Nimbus launches biggest flybridge to date Benetti shows off M/Y Legend with nods to nautical nostalgia Electric boats set minds racing at the 11th Monaco Energy Boat Challenge Sanlorenzo’s SP110 Wins Prestigious Compasso d’Oro 2024 Design Award Burgess to partner with China’s Wanda Group Sunreef Yachts unveils luxurious second edition Subscribe To Our Newsletter Copyright © 2024  Website by Malikhan Design & Digital All Rights Reserved © 2023 Copyright © 2024 Yacht Style.All Rights Reserved .Website by Unstoppable. Discover more from Yacht Style Subscribe now to keep reading and get access to the full archive. Type your email… Continue reading Questions? +1 (202) 335-3939 Pricing & Comparison Chart There were 814 press releases posted in the last 24 hours and 397,780 in the last 365 days. Yacht Charter Market Size to Reach $11.2 Billion Globally by 2030: Latest Report by Vantage Market Research Vantage Market Research Yacht Charter Market Size to Grow by $11.2 Bn | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends WASHINGTON, D.C, DISTRICT OF COLUMBIA, UNITED STATES, June 28, 2024 / EINPresswire.com / -- The Global Yacht Charter Market Size was valued at USD 7.5 Billion in 2022, and it is expected to reach USD 11.2 Billion by 2030, growing at a CAGR of 5.9% during the forecast period (2023-2030). The Yacht Charter Market has experienced significant growth in recent years, driven by rising disposable incomes, increasing interest in luxury travel experiences, and the growing popularity of yachting as a leisure activity. Yacht chartering offers individuals and groups the opportunity to explore exotic destinations with personalized itineraries and premium onboard services, contributing to its allure among affluent travelers worldwide. Download a Sample Report Here: https://www.vantagemarketresearch.com/yacht-charter-market-2190/request-sample Market Dynamics The Yacht Charter Market is influenced by several key dynamics. The rising preference for experiential travel and unique holiday experiences propels demand, while technological advancements in yacht design and navigation enhance the overall chartering experience. Economic stability and favorable weather conditions in popular cruising destinations also play pivotal roles in market growth, enabling operators to expand their offerings and cater to diverse consumer preferences. Top Companies in Global Yacht Charter Market • Dream Yacht Charter (Italy) • Yachtico (U.S.) • Asta Yachting (Croatia) • OceanBLUE Yachts Ltd. (UK) • Simpson Marine (Hong Kong) • Ocean Independence (U.S.) • Imperial Yachts (Monaco) • Northrop & Johnson (U.S.) • YCO (UK) • Burgess (U.S.) To Get a Customized List of Companies Please Click Here: https://www.vantagemarketresearch.com/yacht-charter-market-2190/request-sample Innovation remains at the forefront of Yacht Charter Market trends, with increased emphasis on eco-friendly yachts and sustainable tourism practices. Personalization of services to cater to niche markets such as corporate events and wellness retreats is gaining traction. Additionally, the integration of digital platforms for seamless booking experiences and onboard entertainment services reflects evolving consumer expectations. Top Report Findings • Increasing demand for yacht charters in emerging markets. • Growth of mega yacht charters catering to ultra-high-net-worth individuals. • Shift towards shorter, more frequent charter vacations. • Rise in collaborative partnerships between charter companies and luxury resorts. Get a Access TO Yacht Charter Industry Real-Time Data: https://www.vantagemarketresearch.com/vantage-point Despite its growth, the Yacht Charter Market faces challenges such as regulatory complexities in different jurisdictions, high operational costs, and seasonal demand variations. Ensuring sustainable practices amid environmental concerns also poses a challenge to industry stakeholders. Opportunities The Yacht Charter Market presents ample opportunities, including the untapped potential in emerging markets like Asia-Pacific and Latin America. Technological innovations in yacht design and onboard amenities offer avenues for differentiation, while catering to the rising demand for bespoke travel experiences can drive market expansion. Competitive Scenario The competitive landscape of the Yacht Charter Market is characterized by strategic initiatives such as mergers and acquisitions to consolidate market presence, frequent product launches to introduce state-of-the-art yachts, and ongoing developments in customer service enhancements. Key players focus on expanding their global footprint and enhancing operational efficiencies to gain a competitive edge. Key Questions Answered in Yacht Charter Market the Report • What are the primary factors driving the growth of the Yacht Charter Market? • How are technological advancements influencing yacht design and charter experiences? • What are the key challenges faced by stakeholders in the market? • Which regions are witnessing the highest demand for yacht charters? • How are regulatory frameworks impacting the market dynamics? • What are the emerging trends shaping consumer preferences in yacht charter vacations? • Who are the leading players in the global Yacht Charter Market and what are their strategies? • What are the future prospects and growth opportunities in the market? Read Full Research Report With TOC: https://www.vantagemarketresearch.com/industry-report/yacht-charter-market-2190 Regional Analysis: In the Asia-Pacific region, the Yacht Charter Market is poised for substantial growth driven by increasing affluence, rapid urbanization, and the burgeoning interest in luxury travel experiences. Countries like Thailand, Indonesia, and Australia are emerging as key destinations for yacht charters, offering pristine coastlines and diverse cultural attractions that appeal to international travelers seeking exclusive maritime adventures. Global Yacht Charter Market Segmentation By Contract Type • Bareboat • Crewed By Yacht Size • Up to 40m • 40 to 60m • Above 60m By Yacht Type • Motor Yacht • Sail Yacht • Other Yachts By End-Use • Leisure • Business • Other End Uses Buy Now this Premium Research Report at a Special Price Against the List Price With [Express Delivery]: https://www.vantagemarketresearch.com/buy-now/yacht-charter-market-2190/0 Check Out More Research Reports: • Pour Point Depressant Market: https://www.vantagemarketresearch.com/industry-report/pour-point-depressant-market-2413 • Wood Preservatives Market: https://www.vantagemarketresearch.com/industry-report/wood-preservatives-market-2412 • Butylated Hydroxytoluene Market: https://www.vantagemarketresearch.com/industry-report/butylated-hydroxytoluene-market-2411 • Circular Polymers Market: https://www.vantagemarketresearch.com/industry-report/circular-polymers-market-2414 • Forklift Market: https://www.linkedin.com/pulse/global-forklift-market-size-share-trends-analysis-report-hancock-dgvdf/ • Organ Preservation Market: https://www.linkedin.com/pulse/organ-preservation-market-size-share-trends-analysis-report-hancock-90rwf/ • E-Bike Market: https://www.linkedin.com/pulse/global-e-bike-market-size-share-competitive-analysis-research-ashley-liiaf/ • Solar Power Market: https://www.linkedin.com/pulse/solar-power-market-size-share-trends-analysis-report-2030-hancock/ • Carbon Capture And Sequestration Market: https://www.linkedin.com/pulse/carbon-capture-sequestration-market-size-share-trends-ashley-hancock/ • Self-Healing Materials Market: https://www.linkedin.com/pulse/self-healing-materials-market-size-share-trends-analysis-hancock/ Eric Kunz Vantage Market Research + +1 202-380-9727 email us here Visit us on social media: Facebook X LinkedIn Instagram YouTube You just read: EIN Presswire's priority is source transparency. We do not allow opaque clients, and our editors try to be careful about weeding out false and misleading content. As a user, if you see something we have missed, please do bring it to our attention. Your help is welcome. EIN Presswire, Everyone's Internet News Presswire™, tries to define some of the boundaries that are reasonable in today's world. Please see our Editorial Guidelines for more information. Jerry Jones’ Yacht: A Look at the Dallas Cowboys Owner’s Massive Boat T here might not be a more influential person in all of American sports than Dallas Cowboys owner Jerry Jones. Jones is one of the most visible owners in the NFL , and he’s been at the forefront of the league’s massive growth in recent decades. Jones is one of the richest NFL owners , and his massive fortune allows him to make some lavish purchases. That includes his 357-foot yacht, the Bravo Eugenia. Let’s take a look at the impressive vessel. When Did Jerry Jones Buy His Yacht? Jones purchased his 357-foot yacht from the Dutch firm Oceanco back in 2019. Shortly after Jones bought the boat, he showed off his new purchase by making the Cowboys’ 2020 NFL Draft picks while aboard the vessel, which was captured by ESPN’s cameras during their broadcast. Jones named his superyacht the Bravo Eugenia in honor of his wife, Eugenia Jones. “Creating our Bravo Eugenia was a project born out of true love for our family,” Jones told Yachts International . “Building and designing her became a family affair on every level of the project. Gene oversaw the project and guided us through every step of the process, while our entire family, including our children and grandchildren, visited Oceanco on many occasions, contributing to the yacht’s development and helping to shape our dream.” MORE: What Is Jerry Jones’ Net Worth? How the Cowboys Owner Made His Money “With Gene’s supervision, we were personally involved with every aspect of the build, all the way from the keel laying to every design decision to the christening ceremony to her delivery and beyond,” he added. What Does Jones’ Superyacht Look Like? There’s no way around it: Jones’ boat is an impressive piece of machinery. Some of the amenities of the yacht include two Helipads, seven cabins capable of accommodating 14 guests, four decks worth of space, a 30-member crew, a gym, a swimming pool/plunge pool, a sauna, and a steam room. All information and photos courtesy of Boat Safe . Inside the 357-Foot Superyacht As impressive as Jones’ yacht looks from the outside, it’s even more astonishing once you step inside. How Much Did the Yacht Cost? According to reports, Jones paid $250 million out of pocket to purchase his superyacht. With the annual estimated running costs being valued at $15-20 million a year, it’s safe to say that Jones will try to get the most out of his investment. It certainly sounds like Jones is happy with his purchase. When asked why he bought the yacht, he told Yachts International that his goal is “to see as much of the world as possible from the perspective of the sea.” MORE: Who Are the NFL’s Richest Owners? Ranking Every Owner From 32 to 1 “Bravo Eugenia gives us the flexibility to reach so many destinations that touch landscapes and cultures that will create unique and lasting family memories and experiences,” Jones said. “On board Bravo Eugenia, our private and public areas are personalized with commissioned art, family memories and mementos, bespoke board games that depict our family history, such as Monopoly and Clue that represent our then and now. Bravo Eugenia is truly a reflection of our life and the things we love.” Yacht Club Market Size, Share, Top Players Growth Drivers, and Industry Outlook 2024 to 2032 Press release from: wiseguy reports. Permanent link to this press release: You can edit or delete your press release Yacht Club Market Size, Share, Top Players Growth Drivers, and Industry Outlook 2024 to 2032 here Delete press release Edit press release More Releases from WiseGuy Reports All 5 Releases More Releases for Yacht Categories Advertising, Media Consulting, Marketing Research Arts & Culture Associations & Organizations Business, Economy, Finances, Banking & Insurance Energy & Environment Fashion, Lifestyle, Trends Health & Medicine Industry, Real Estate & Construction IT, New Media & Software Leisure, Entertainment, Miscellaneous Logistics & Transport Media & Telecommunications Politics, Law & Society Science & Education Sports Tourism, Cars, Traffic RSS-Newsfeeds Order Credits About Us About / FAQ Newsletter Terms & Conditions Privacy Policy Imprint Ground Reports 50-Word Edit National Interest Campus Voice Security Code Off The Cuff Democracy Wall Around Town PastForward In Pictures Last Laughs ThePrint Essential ATHENS (Reuters) – A British man who had been taking part in a yachting regatta off the Greek island of Spetses was found dead on Friday, authorities said. Coastguard authorities said the 44-year-old man was found in a bay area of the island with what appeared to be injuries on the left side of his head. He was taken to a local hospital which confirmed his death, the coastguard said. Greek media and authorities said the man was part of a team participating in an annual classic yacht regatta running from June 26-29. A postmortem will determine the cause of death, the coastguard said. (Reporting by Angeliki Koutantou; Editing by Frances Kerry) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content. Subscribe to our channels on YouTube , Telegram & WhatsApp Support Our Journalism India needs fair, non-hyphenated and questioning journalism, packed with on-ground reporting. ThePrint – with exceptional reporters, columnists and editors – is doing just that. Sustaining this needs support from wonderful readers like you. Whether you live in India or overseas, you can take a paid subscription by clicking here . LEAVE A REPLY Cancel Save my name, email, and website in this browser for the next time I comment. Most Popular Maldives’ economy has good growth trajectory, says ex-minister as fitch downgrades its debt to ‘junk’, up govt transfers 12 dms weeks after polls. 11 of them headed districts where bjp lost, wives and supermodels—how indigo marketed to men in sales, it, and consulting. Required fields are marked * Copyright © 2024 Printline Media Pvt. Ltd. All rights reserved. Terms of Use Privacy Policy 484 IMAGES PPT PPT Unveiling the Rising Tide: Our Journey of Growth in the Charter Fleet Growth In The Yacht Charter Industry and How It Is Changing Superyacht Industry Insights Azimut yachts reports faster growth: +15% in the first four months of VIDEO Yacht Talks Unleashing the Inner Adventurer: Sailing and Self-Discovery with Ocean Youth Trust South Zizoo, Benita Greine PROPSPEED LALIZAS COMMENTS Yacht Market Size, Share And Growth Market Report, 2030 The global yacht market size was estimated at USD 9.39 billion in 2023 and is expected to register a CAGR of 5.1% from 2024 to 2030. The yachting industry has experienced a steady rise in demand in recent years, driven by increasing disposable income and a growing desire for leisure pursuits. This trend is further fueled by the growing luxury ... Yacht Market Size & Share, Industry Growth Report 2024-2032 Yacht Market Size. Yacht Market size was valued at USD 11.04 billion in 2022 and is estimated to register a CAGR of 6.7% between 2023 and 2032. The high focus of yacht manufacturers on building technologically integrated yachts is driving market growth. Manufacturers are incorporating cutting-edge technologies, such as advanced navigation ... Yacht Industry Statistics: Market Size, Growth Rate, Competitor Share As per The Business Research Company, the global yacht market size will grow from $8.3 billion in 2022 to $8.9 billion in 2023 at a compound annual growth rate (CAGR) of more than 7%. The yacht ... Global Yacht Market Outlook & Forecast 2024-2029, Featuring Profiles of Economic growth and the rise in the number of high-net-worth individuals (HNWIs) play pivotal roles in propelling the growth of the yacht market. As economies expand, disposable incomes increase ... Yacht Market Size, Share, Growth & Industry Trends [2031] Yacht Market Outlook 2031. The Global Yacht Market size was USD 9.35 Billion in 2022 and is likely to reach USD 13.98 Billion by 2031, expanding at a CAGR of 5.8% during 2023-2031. The market growth is attributed to the large number of High-Net-Worth Individuals (HNWI) and the high demand for eco-friendly yachts. Global Yacht Market Outlook & Forecast 2024-2029: A $40.4 Billion The global yacht market was valued at USD 26 billion in 2023 and is forecast to grow to USD 40.4 billion in 2029, registering a CAGR of 7.62% from 2023-2029.. The yacht market is marked by intense ... Luxury Yacht Market Size, Forecast The global luxury yacht market size was valued at USD 7.67 billion in 2023. The market is projected to grow from USD 8.75 billion in 2024 to USD 17.33 billion by 2032, exhibiting a CAGR of 8.9% during the forecast period. A luxury yacht is a high-end recreational vehicle offering exclusive and luxurious amenities along with accommodation. Yacht Market Size The global yacht market was valued at USD 8.12 billion in 2020 and is expected to grow at a CAGR of 5.1% during the forecast period. The increasing inclination towards recreational or leisure activities on account of growing disposable income, coupled with the increasing preference for personalized services, luxury tourism, and exclusive traveling, are the few prominent factors expected to ... Luxury Yacht Market Size & Share, Growth Trends Report 2032 Luxury Yacht Market Size. Luxury Yacht Market size was valued at USD 9.9 billion in 2022 and is estimated to register a CAGR of 6.7% between 2023 and 2032, due to the growing popularity of yacht charters. Yacht charters offer individuals and groups with the opportunity to experience the luxury & exclusivity of yachting without the long-term ... Yacht Market Size, Share, Trends The Yacht Market is expected to reach a value of USD 16.80 billion by the year 2032. This growth is projected to have a CAGR of 5.80% from 2024 to 2032. In 2023, the Yacht Market was valued at USD 10.3 billion. The International Monetary Fund predicts a 40% growth in China's economy by 2028. Yacht Market Size, Share, Trends & Growth Analysis Report 2030 Yacht Market Size, Growth Opportunities, Outlook, Statistics, Market Scope, Revenue, Research, Trends Analysis & Global Industry Forecast Report 2023-2030. Yacht Market was valued at USD 9,407 million in 2022 and is anticipated to touch USD 14,111 Million in 2030 and is expected to register a CAGR of 5.2% during the forecast period. The Future of the Global Yachting Market in 2024 Market Size & Growth Projections. The global yachting market was valued at approximately $47.5 billion in 2021. The market is projected to grow at a CAGR of 4.2% between 2022 and 2024, reaching nearly $54 billion by 2024. The largest regional markets currently are: - North America - $16.8 billion. - Europe - $15.9 billion. Global Yacht Industry Assessment and Forecast, 2026 Global Yacht Industry Market to Reach US$10.8 Billion by the Year 2026. ... growth in the Sport Yacht segment is readjusted to a revised 7.3% CAGR for the next 7-year period. This segment ... Yacht Charter Market 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. Insights on the Yacht Global Market to 2026 The global yacht market in 2021 was valued at US$10.80 billion. The market is anticipated to reach US$15.15 billion by 2026. This report provides an in-depth analysis of the global yacht market by ... Yacht Market Research The global yacht market is expected to grow at a CAGR of 3.5% during the forecast period, from 2021 to 2030. The market is driven by the increasing demand for Leisure Boats and business boats. The growth in this segment is attributed to the increase in disposable income and rise in tourism activities across the globe. Yacht Market: Global Industry Analysis and Forecast (2024-2030) Yacht Market size was valued at US$ 11.92 Bn in 2023 and is expected to reach US$ 18.63 Bn by 2030.Yacht Market is expected to grow at a CAGR of 6.58% through the forecast period. Yacht Market Overview A yacht is a sailing or power vessel used for pleasure, cruising, or racing. Yachting Industry Market Trends & 2023 Predictions Expected Growth in the Yachting Industry. According to Yahoo, the Global Luxury Yacht Market is expected to grow by 366 th units between 2023-2027, accelerating the compound annual growth rate (CAGR) to 11.26% during the forecast period. The market is driven by an increase in recreational tourism, digital marketing, increasing social media use ... Yachting 2023, tips and trends The latest reports show that the global yacht charter market was valued at US$ 16.4 billion in 2021 and is expected to show a compounded annual growth rate of 25.6 between 2022 and 2030. 3 - Experiential yachting What does experiential yachting mean? It simply means everything a yacht owner should enjoy onboard their vessel. The latest yacht market trends Yacht market trends: sales. Yacht sales continue to be robust. 2021 saw an astonishing 72 vessels with price increases, breaking historical records and this trend is continuing in 2022. The most recent YATCO data - from May 2022 - shows that a total of 100 yachts were sold in this month alone, with a combined asking price of more than US ... Yacht Charter Market Size, Share The global yacht charter market size was valued at USD 7.22 billion in 2022. The market is projected to grow from USD 7.59 billion in 2023 to USD 11.06 billion by 2030, exhibiting a CAGR of 5.5% during the forecast period. A yacht charter is a service for hiring boats for recreational and leisure purposes. The Future of the Yachting Industry—5 Trends to Watch Here are 5 key trends to keep an eye on according to our expert team at HMY. 1. Luxury day boats are taking over. The OKEAN 55 Sport proves to be the ultimate day boat, expanding into a spacious beach club with ease. The express cruisers industry is stepping into luxury day boat design - building incredible vessels such as the OKEAN Yachts 55 ... Yacht Charter Market Size & Trends Analysis Report, 2020-2027 Report Overview. The global yacht charter market size was valued at USD 6.5 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2020 to 2027. The growing preference among travelers for luxury marine tourism and personalized services are the primary factors that are fueling the growth. Italian Nautical Industry Exceeds €27 Billion Annual Impact ... Additionally, on the ground spending related to large yachts, of which only 6.5 percent sail under an Italian flag, averages 26 times greater than the average across the nautical sector. Wise Equity announces majority stake in Absolute Yachts Wise Equity has announced it will acquire a majority stake in Absolute, the northern Italy-based shipbuilder. The investment, which will be made via its Wisequity VI fund, will assist with the Italian manufacturer's plans for growth and development. With the agreement, Wisequity V1 will acquire a major stake in the luxury-yacht maker. Yacht Charter Market Size to Reach $11.2 Billion Globally by 2030 Yacht Charter Market Size to Grow by $11.2 Bn | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends. WASHINGTON, D.C, DISTRICT OF COLUMBIA, UNITED STATES, June 28 ... Jerry Jones' Yacht: A Look at the Dallas Cowboys Owner's ... Some of the amenities of the yacht include two Helipads, seven cabins capable of accommodating 14 guests, four decks worth of space, a 30-member crew, a gym, a swimming pool/plunge pool, a sauna ... Yacht Club Market Size, Share, Top Players Growth Drivers, In 2024, the Yacht Club market growth is growing steadily with exponential rate and a rising adoption of strategies by top industry players, over the projected horizon 2024 to 2032. British man participating in Greek yacht regatta found dead ... Greek media and authorities said the man was part of a team participating in an annual classic yacht regatta running from June 26-29. Show Full Article A postmortem will determine the cause of death, the coastguard said. ... Maldives' economy has good growth trajectory, says ex-minister as Fitch downgrades its debt to 'junk' ... catamaran motorboat powerboat riverboat sailboat trimaran yacht