The global yacht charter market provides recreational boating activities by renting luxury yachts equipped with modern amenities to customers. Yacht charters offer customized cruising experiences and water sports. They are an eco-friendly substitute to owning yachts as they reduce ownership and maintenance costs. The growing popularity of luxury boating vacations is spurring the demand for yacht rental services. The global yacht charter market is estimated to be valued at US$ 68809.83 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends

The expansion into offshore markets is one of the key trends being witnessed in the yacht charter market. Many large yacht charter companies are focusing on expanding their offshore operations to cater to the increasing demand from international customers. Offshore markets like the Mediterranean, Caribbean, and South Pacific regions are growing lucrative markets for yacht charters. Charter operators are strengthening their offshore fleets and international marketing efforts to tap opportunities in these regions. The growing popularity of international boating holidays is driving the offshore expansion of major yacht charter companies.

Segment Analysis

The global yacht charter market is dominated by the sailing yacht segment. Sailing yachts are popular among recreational users and account for over 45% of the total yacht charter market share. Their growing popularity can be attributed to factors such as opportunity to learn sailing, cost effectiveness compared to motorized yachts, and environment friendliness.

Key Takeaways

The Global Yacht Charter Market Size is expected to witness high growth.

Regional analysis: The European region currently dominates the global yacht charter market. Countries like Italy, Greece, and Croatia have seen substantial growth in yacht rental activities over the past few years owing to their scenic coastlines and growing luxury tourism industries. These countries are expected to continue their dominance with Italy alone holding over 25% market share.

Key players operating in the yacht charter market are Siemens Gamesa Renewable Energy, Vestas Wind Systems A/S, MHI Vestas Offshore Wind, Ørsted A/S, EDP Renewables, RWE Renewables, Equinor ASA, China Three Gorges Corporation, Envision Energy, Goldwind Science and Technology Co., Ltd. Boatbookings, Sailogy, Antlos, Yachtico, and Northrop & Johnson are some of the major online yacht rental platforms operating in the market. These players have been focusing on expanding their fleet sizes and online presence to capture higher market shares.

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