Market Size of Yacht Charter Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 5.79 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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.
