#Trends In Yacht Charter Market

[sports9885]

Yacht charter market size is valued at USD 9,859.48 million by 2028 expected to grow at a compound annual growth rate of 5.10% over the forecast period of 2021 to 2028. Data Bridge Market Research report on yacht charter market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.

#Yacht Charter Market – Industry Trends and Forecast

[blogaarti]

Yacht Charter Market Will be Worth US$25.53 Bn by 2027

The global yacht charter market is driven by an upsurge in leisure activities as consumers across demographics discover the pleasure of yachting to exotic locations. Charter yachts are immensely popular as they rival the best that luxury hotels have to offer with the added advantage of complete seclusion as any tourists can travel to a waterbody of their choice. Tourists can visit several locations in a single trip and avoid the inconvenience of bumper-to-bumper traffic or lengthy waits at airport departure lounges, making yacht charters extremely appealing for those pressed for time or willing to pay for a premium experience.

 As per Fairfield Market Research, the global yacht charter market is on track to register an impressive CAGR of 22.85% from 2021 to 2027.

 For More Industry Insight Read: https://www.fairfieldmarketresearch.com/report/yacht-charter-market

 Government Initiatives to Play Major Role in Popularizing Yacht Charters

National governments are putting various initiatives in place to boost local tourism and yacht charters are vital in this. The govt. of Indonesia has excluded the Clearance and Approval for Indonesian Territory (CAIT) from its marine tourism policy. This resulted in a profit of $600 million in 2019 alone.

 Yacht Charter Companies Entering Into Celebrity Partnerships to Raise Awareness

Yacht charter companies are seeking out alliances with social media influencers to tap previously undeserved millennial or Gen Z audiences. Celebrities are chartering yachts for private getaways and documenting their experiences on social media, exponentially raising awareness among younger clientele who have the disposable income to indulge in luxuries such as charter yachts.

 Motor Yachts Most Popular in the Yacht Charter Market Due to Their Design and Range

The motor yacht segment is anticipated to race ahead of other segments in the yacht charter market as it can cover maximum distances in the shortest timeframe. The shallow design of motor yachts allows them to easily enter narrow passages and coastlines, boosting their demand amongst end-users. Motor yachts have a larger deck space than other options in the yacht charter market, allowing tourists to be in the lap of luxury while travelling the high seas.

Wealthy Europeans to Continue Chartering Yachts to Travel to Unexplored Locations

Europe comprised almost half of the global yacht charter market with a share of 48% in 2020 and this is likely to continue for the forecast period. Europe has long been a highly sought-after tourist destination and Mediterranean nations such as Turkey and Italy will propel demand going forwad. Several companies on the continent already offer a combination of online yacht charter bookings with flights to provide a complete package to travellers.

 The presence of a significant high-net-worth (HNI) population has resulted in a large number of watercraft licenses issued here to cater to the wealthy clientele’s discerning taste. In 2017, the European Commission stated that 60,000 yachts in European waters generate revenue of Euro 6 billion annually. Nonetheless, the highest growth rate of 24% is predicted to be in the dynamic Asia Pacific region as robust economic growth leads to a spike in HNIs, especially in Southeast Asia.

 Companies Looking at Both Organic and Inorganic Growth in the Yacht Charter Market

Companies in the yacht charter market are adopting different strategies including mergers and acquisitions, joint ventures, and collaborations to strengthen their competitive position. Companies studied in this report on the yacht charter market are Mertello Fairline Yacht, Thai Charters, Dream Yacht Charter, Fraser Yacht, Charter Yachts Australia, Boatbound Inc., CharterWorld LLP, Incrediblue Ltd., Burgess, Boat International Media Ltd., Simpson Marine, Northrop & Johnson, and Sailing Thailand Island Cruises Co., Ltd.

 In 2018, Sailogy S.A. acquired Master Yachting and became the number one company in the yacht charter market. In the same year, rival Princess Yachts launched six models developed through its GBP 100 million investment programme from 2015. Other companies such as Click&Boat and Marine Max Group have also chosen an acquisition strategy to solidify their presence in the yacht charter market.

 Get a Sample Copy of Yacht Charter Market: https://www.fairfieldmarketresearch.com/report/yacht-charter-market/request-sample

 About Us

Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.

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[latestmarketblogupdates]

Yacht Charter Market - Forecast 2022 - 2027

Yacht Charter Market Forecast (2020- 2025)

Overview

The Yacht Charter Market is forecast to reach $ 14.98 billion by 2025 growing at a CAGR of 6.2% during the forecast period 2020-2025. Growing interest towards leisure activities such as sailing and growing number of tourism are envisioned to be the dynamic factor behind the rapid growth of yacht charter market across the globe. Moreover, advance booking methods are allowing consumers to book yacht while booking flights tickets is also expected to propel the growth of yacht charter market. Further, favorable government programs to boost the tourism are also predicted to elevate the market of yacht charter. In addition to this, swelled disposable income coupled with positive GDP figures of developed and developing nations such as U.S. and others are projected to flourish the growth of yacht charter market. Likely, rising adoption of sailing vacations by affluent consumers is expected to boost the demand for yacht charter.

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Key Takeaways

With the increasing interest of people towards marine tourism, yacht charter business is set to exhibit robust growth in the forecast period 2020-2025. Rising affluence and inclination towards luxurious lifestyle has significantly uplifted the demand for yacht chartering services Increasing effort from yacht builders & service providers focusing to provide more luxurious features are the substantial driving factors of the market during the forecast period. High cost associated with yacht charter is anticipated to hamper the growth of yacht charter market over the forecast period.

Yatch Type - Segment Analysis

On the basis of type, the Motor Yatchs segment has been analyzed to witness a high CAGR of 6.59% during the forecast period 2020-2025. Unlike a sailing yacht, a motor yacht powers through sea elements allowing them to cover greater distances in less time. Moreover the shallow draft design allow the yacht to navigate through shallow and narrow passages enabling to explore almost any coastline or archipelago. The global yachts charter service market has experienced considerable adoption, particularly from younger population. Most of the young consumers are generally first-time boaters, who frequently celebrate programs such as weekend and birthday parties especially in the form of yacht holidays. Motor yachts tend to have more deck space for basking in the sun, dining al fresco, and entertaining with family and friends. More over Luxury motor yachts are equipped with better communication options and modern conveniences which is propelling the adoption of Motor Yatchs over Sailing Yatchs.

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Application - Segment Analysis

The retail segment is expected to grow at a CAGR of 6.89% during the forecast period 2020-2025. The yacht charter market growth is highly driven due to increasing interest in luxury cruising from high net worth and ultra-high net worth individuals (UHNWI) worldwide. With more than 200,000 households falling under ultra-high net worth category, yacht charter has been gaining immense popularity since the past few years. Similarly, according to 2017 World Health Report by Capgemini, the total number high net worth individuals (HNWI) worldwide increased by nearly 8% to a record-breaking 16.5 Mn. This has ensured a promising consumer base for yacht charter services worldwide. Emergence of new tourist destinations (such as Southeast Asia) offering luxury cruising along with scenic beauty has been encouraging the HNWIs and UHNWIs across the world to explore such tourist destinations. Yacht charter companies are now more focused on providing enhanced luxury cruising to their consumers by improving their infrastructure including more sophisticated bars & restaurants, internet connectivity and other related IT tools which will further boost the growth of Yacht Charter Market during the forecast period.

Geography - Segment Analysis

Europe is forecast to dominate the Yatch Charter Market with the highest market share of 58% in 2018 and is expected to grow at a considerable CAGR during the forecast period. Growing tourism in this region along with presence major yacht charters is expected to drive the yatch charter market in Europe. Likely, Turkey and Italy are the dominating countries in this region. Additionally, collaboration of online yacht charter and flight booking service providers in Europe region is projected to propel the growth of yacht charter market. Rise in number of issued license for water craft and presence of wealthy population is also expected to boost the market growth. For Instance, according to European Commission’s report on nautical tourism (2017), about 6 million boats are kept in European waters out of which 60,000 charter boats generate up to € 6 billion turnover each year.

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Drivers – Yacht Charter Market

· Growing Inclination towards marine tourism to drive the Yatch Charter Market.

Rising disposable income of the consumers coupled with growing interest towards marine tourism and leisure activities such as sailing is expected to drive the Yatch charter market. Recreational boating has been witnessing immense popularity since the past few years, paving way for yacht charter services. Increasing number of promotional programs promoting yachts, technological developments, raising several online yacht service providers, rising number of yachts accessible on rent are some of the most important aspects which will propel the development of the global yachts charter market.

· Government initiatives to drive the Yatch Charter Market.

Government programs and initiatives to promote marine tourism is expected to boost the Yatch Charter Market. For instance, the Indian government is enhancing infrastructure and services to support port city excursions and domestic tourism with aim of promoting cruise tourism and increase sea arrivals to 1.2 million tourists by 2030-31. The Indonesian government renovated their marine tourism policy by removing CAIT (clearance approval for Indonesian territory) permit. This policy projected an increased number of yacht visits to Indonesia which was up to 6,000 yachts in 2019, creating an income of USD 600 million.

Challenges – Yacht Charter Market

· High cost associated with yacht charter is anticipated to hamper the growth of yacht charter market.

Western Europe countries such as Italy and others are the major countries witnessing the augmenting the demand for yacht charter due to presence of high net worth individuals (HNWI). Yacht charting is quite expensive as it is mainly utilized for leisure activities which is restraining the growth of Yatch Charter Market in other regions. However changing lifestyle of the consumers coupled with higher disposable income along with growing sea tourism will foster the growth yacht charter market.

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Market Landscape

Key players embrace a variety of growth strategies, including mergers and acquisitions, collaboration and partnerships, joint ventures and few other strategies to strengthen the Market's position. The major players in the Yatch Charter Market include Yachito Inc., Boatbookings (Enitiative biz, Ltd.), Sailogy SA, Antlos Srl, Collaborative Boating Inc., Fraser Escape Bareboat Charters, Princess Yacht Charter, TUI Group, Zizooboats GmbH among others.

Acquisitions/Partnerships/ Investments/ Product Launches

Ø In June 2018, Sailogy S.A., an online booking solution for yachts and sailboats, acquired the German company Master Yachting, becoming the global leader worth 50 billion.

Ø In February 2018, MasterCraft Boat Holdings, Inc. announced an exclusive national distribution partnership with MarineMax, Inc., the nation’s largest recreational boat and yacht retailer, to help maximize the success of its new brand, Aviara. Beyond this exclusive distribution arrangement, Aviara will also benefit from the ongoing collaboration with MarineMax on the innovative, unique and first to market product.

Ø In July 2018, Princess Yachts announced the launch of 6 new models .The exceptional launch programme and financial result is underpinned by a five-year £100 million investment programme began in 2015.

#Yacht Charter Market #Yacht Charter Market Size #Yacht Charter Market Share #Yacht Charter Market Trends #Yacht Charter Market Research #Yacht Charter Market Demand

[rebecca489]

#orbis research #yacht charters market #yacht transport market #yacht transport market trends #yacht transport market 2020

[dbmrrmarket]

[aimarketresearch]

[wanderlustwhims]

The luxury yacht market is experiencing significant growth, driven by a rising demand for lavish pleasure vessels that cater to both chartered and private services. Additionally, there is a growing trend towards spending leisure time at exclusive destinations.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.nextmsc.com/report/luxury-yacht-market?utm_source=simran_linkedin&utm_medium=simran_ip&utm_campaign=simran_luxury_yacht&utm_id=simran_mar&utm_term=simran_ip&utm_content=simran_ip

#marketinsights #marketstrategy #globaltrends #market trends #markettrends #globalinsights #marketgrowth #marketresearch

[nmsc-market-pulse]

Navigating the High Seas: A Comprehensive Guide to the Luxury Yacht Market

In the realm of opulent indulgence, few experiences match the allure of sailing the open seas aboard a luxury yacht. The luxury yacht market, a bastion of extravagance and sophistication, continues to captivate the elite with its promise of unparalleled leisure and adventure. As the demand for exclusive experiences burgeons, the landscape of yacht charters evolves, ushering in new trends and preferences.

In this article, we delve into the dynamic world of luxury yacht charters, exploring emerging trends and the evolving tastes of charter clients.

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Luxury Yacht Market Overview: Sailing in Style

The luxury yacht market epitomizes the pinnacle of refinement and extravagance, catering to discerning clientele seeking bespoke experiences on the water. From sleek, modern vessels to timeless classics, yacht enthusiasts are spoilt for choice with an array of options tailored to their every desire. Whether it's exploring secluded coves in the Mediterranean or cruising the azure waters of the Caribbean, luxury yacht charters offer unparalleled freedom and exclusivity.

Yacht Charter Trends: Charting a Course for Luxury

In recent years, the landscape of yacht charters has witnessed a paradigm shift, driven by changing consumer preferences and evolving travel trends. One notable trend is the rise of themed charters, which offer clients immersive experiences tailored to their interests. From culinary cruises showcasing world-class cuisine to wellness retreats focused on rejuvenation and relaxation, themed charters provide a unique opportunity to indulge in one's passions while traversing the seas.

Culinary Cruises: A Feast for the Senses

For epicurean enthusiasts, culinary cruises have emerged as a sought-after trend in the luxury yacht market. These gastronomic journeys combine the pleasures of sailing with the culinary delights of world-renowned chefs, creating a feast for the senses. Guests can savor gourmet meals prepared with locally-sourced ingredients, paired with fine wines against the backdrop of breathtaking seascapes. From exclusive wine tastings to cooking demonstrations by master chefs, culinary cruises offer a delectable fusion of luxury and indulgence.

Wellness Retreats: Nurturing Body and Soul

In an increasingly hectic world, wellness retreats aboard luxury yachts provide a sanctuary for relaxation and rejuvenation. From sunrise yoga sessions on the deck to pampering spa treatments amidst the gentle sway of the sea, these retreats offer a holistic approach to well-being. Guests can immerse themselves in wellness activities tailored to their needs, fostering a sense of balance and serenity amidst the tranquility of the ocean. Whether it's mindfulness meditation or holistic healing therapies, wellness retreats aboard luxury yachts redefine the concept of relaxation.

Cultural Expeditions: Unveiling Hidden Gems

For the culturally curious traveler, cultural expeditions aboard luxury yachts offer a unique opportunity to explore the world's diverse heritage. From ancient ruins steeped in history to vibrant markets brimming with local flavors, these expeditions unveil the hidden gems of exotic destinations. Guests can embark on guided tours led by knowledgeable experts, immersing themselves in the rich tapestry of local cultures and traditions. Whether it's tracing the footsteps of ancient civilizations or participating in traditional ceremonies, cultural expeditions aboard luxury yachts promise an enriching and immersive experience.

Inquire before buying: https://www.nextmsc.com/luxury-yacht-market/inquire-before-buying

Experiential Travel: Redefining Luxury

Beyond themed charters, the luxury yacht market is witnessing a broader shift towards experiential travel, where the focus is on authentic and transformative experiences. Discerning travelers seek more than just lavish amenities; they crave meaningful encounters and unforgettable moments that leave a lasting impression. From swimming with majestic marine life to exploring remote islands untouched by tourism, experiential travel aboard luxury yachts offers a gateway to untold adventures and unparalleled beauty.

Conclusion: Setting Sail into Luxury

As the luxury yacht market continues to evolve, driven by shifting consumer preferences and emerging travel trends, one thing remains constant: the allure of the open seas and the promise of unparalleled luxury. From themed charters catering to niche interests to experiential travel redefining the boundaries of luxury, yacht enthusiasts are embarking on a journey of discovery and indulgence like never before.

Whether it's exploring uncharted waters or simply basking in the sun-drenched splendor of paradise, luxury yacht charters offer an escape from the ordinary and a voyage into the extraordinary. So, set sail into the sunset and let the enchantment of the high seas awaken your senses and ignite your spirit of adventure.

#luxury yacht #global market #consumer goods #industry insights

[northbrokers]

Searching For A True Sales Tactics, Seller Market Analysis And Yacht Charter?

26 North Yachts where a spectrum of strategic sales tactics, comprehensive seller market analysis, and exquisite yacht charter services converge, tailored to elevate your yachting experience and investment pursuits.

True Sales Tactics: At 26 North Yachts, we redefine sales strategies with true sales tactics honed through years of expertise in yacht brokerage. Our team employs innovative approaches, leveraging cutting-edge marketing, strategic negotiations, and client-focused methodologies to optimize sales and ensure maximum value for yacht sellers.

Seller Market Analysis Expertise: Gain a competitive edge in the dynamic yacht market with our comprehensive seller market analysis. Backed by meticulous research and industry insights, our analysis offers sellers a deep understanding of market trends, pricing strategies, and competitor evaluations, empowering informed decision-making for successful yacht sales.

Yacht Charter Excellence: Embark on unforgettable voyages with our yacht charter services. 26 North Yachts presents a curated selection of luxurious yachts available for charter, promising unparalleled experiences on the water. Whether seeking a day excursion or an extended voyage, our charter services cater to diverse preferences, ensuring every moment is marked by luxury, comfort, and sophistication.

Tailored Solutions and Insights: We recognize that each client's needs are unique. Our consultancy approach focuses on understanding individual objectives, offering tailored solutions, and providing invaluable insights, ensuring that sellers, buyers, and charterers receive guidance aligned with their goals, preferences, and aspirations.

Navigating Yachting Success: At 26 North Yachts, we are committed to guiding clients towards yachting success. From unveiling the intricacies of seller market analysis to orchestrating captivating yacht charters, our dedication to excellence and professionalism ensures that clients navigate the yachting industry with confidence and success.

Seamless Yachting Experience: Situated 26 North Yachts serves as a hub of yachting excellence. Our strategic location places us in the heart of vibrant maritime activity, allowing us to provide unparalleled services and access to premium yachting experiences in this thriving yachting community.

Experience the pinnacle of yachting prowess with 26 North Yachts, where sales tactics, seller market analysis, and yacht charters converge to unlock new horizons in the world of luxury yachting.

Discover unparalleled sales tactics, comprehensive seller market analysis, and exquisite yacht charters at 26 North Yachts. Our expertise offers innovative sales strategies, insightful market analysis for sellers, and luxury yacht charters. Tailored solutions ensure a seamless yachting experience, empowering clients to navigate success in the world of luxury yachting. Whether buying, selling, or chartering, trust 26 North Yachts to deliver exceptional service, strategic insights, and unforgettable experiences tailored to your yachting aspirations.

[rjshitalbakch]

#Yacht Chartering Market

[amr-jayprakash]

Luxury yachts are large, luxurious, professionally crewed motors or sailing yachts with length varying from 75 feets and expanding to more than 250 feet. Luxury yachts are often available for chartered providing as well as private purpose to provide seamless luxury experience full of high standard and comfort. Traditionally manufactured using woods, fiber reinforced polymers and composites gain huge popularity in the last few years. Demand for luxury yachts have increased steadily in the last few years. This can be attributed to change in lifestyle of people fueled by growth in high net worth individuals, rise in inclination toward recreational and leisure activities, and surge in trend of yacht tourism.

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[gulfcraftinc]

Gulf Craft, one of the world’s leading boat and yacht manufacturers is making a grand entrance at the Cannes Yachting Festival 2023, with its award-winning Majesty 120 and Majesty 100. Both vessels underline the commercial capabilities across the Majesty yachts model line-up. This year, the Majesty 120 has garnered well-deserved recognition in the prestigious BOAT International’s Design & Innovation Awards receiving both the Eco Award and the Best Naval Architecture Award. Along with the Best Motor Yacht 25–40 Metres at Design et al’s International Yacht & Aviation Awards.

Continuing this trend, a number of Gulf Craft vessels are also nominated at the World Yachts Trophies, with three of their vessels earning nominations in various categories. The Majesty 72 has been nominated for the “Best Layout” category, a testament to its thoughtful and functional design. Meanwhile, the Majesty 111 is competing for the “Best Interior Design,” showcasing the yacht’s exquisite and luxurious living spaces. Lastly, the Nomad 101 has earned a nomination in the “Most Achieved Yacht” category, highlighting its exceptional performance and versatile capabilities.

The event will highlight the yachts’ impeccable suitability for the charter market, groundbreaking energy-efficient technologies, and the company’s dedication to sustainable materials.

Gulf Craft Chairman, Mohammed Hussein Alshaali, commented: “I am immensely proud of Majesty Yachts’ unwavering commitment to excellence, innovation, and sustainability, particularly in the dynamic European market. Our Majesty 120 stands as a testament to our dedication to crafting vessels that not only exceed expectations but also set new standards in the industry.”

“We see the shift towards composites gaining momentum, and Majesty Yachts, with its expertise in this area, is poised to lead this transformative journey.” He added.

The company’s unique dedication to commercial-ready vessels is apparent in every facet of design. From expanded cabin capacity and enhanced storage solutions to meticulous compliance with MLC requirements for crew quarters, each detail is meticulously crafted to cater to discerning charter needs. Owners are granted the extraordinary flexibility to opt for full commercial compliance at any stage during the yacht’s lifecycle, enhancing its overall value.

The shipyard is leading the charge in sustainable yachting with its revolutionary energy-saving technologies. Showcased by the Majesty 120 earning the aforementioned Eco Award at this year’s Design & Innovation Awards. The company’s pioneering energy-efficient HVAC system not only ensures passenger comfort but also efficiently recovers waste heat generated from onboard processes. This recovered heat is then seamlessly redistributed to power various onboard utilities, resulting in a substantial reduction in operational costs.

The Majesty 120, equipped with this groundbreaking HVAC system, boasts savings of over 80,000 kW annually, delivering significant operational cost reductions. In colder conditions, the energy savings soar, reaching up to 50 kWh and resulting in savings of approximately 20,000 euros per month.

About the Majesty 120

Exclusively crafted at Gulf Craft’s state-of-the-art, integrated production facility in the United Arab Emirates, the Majesty 120 exemplifies engineering excellence. With a length of 123 feet (37.5 meters) and a beam of 27.6 feet (8.4 meters), the Majesty 120 boasts a lightweight yet robust composite construction, effortlessly gliding through shallow-draft areas, with a draft of just 6.5 feet (1.95 meters). The Majesty 120’s interior offers a contemporary layout enriched with carefully selected solid wood, leather, and marble finishes and paneling. Every fixture and fitting are impeccably handcrafted, ensuring an unparalleled level of attention to detail.

About the Majesty 100

The Majesty 100 is one of the best-selling models of Gulf Craft’s flagship Superyachts brand that has gained acclaim globally for its innovative design, powerful performance, and massive interior volume. Made of fiber-reinforced polymer (FRP), making her lightweight at 199 Gross Tons, the 33.04 meters (108 ft 4 in) Majesty 100 is powered by a Twin MAN V12 1,900 horsepower engine reaching a top speed of 19 knots. With a displacement of approx. 136 tonnes, and a draft of just 1.79 meters (5 ft 10 in), the Majesty 100 can effortlessly cruise in shallow waters accessing pristine beaches along her journey.

#yacht #yachts #superyacht #superyachts #luxury yachts #luxury boat #luxury boats #megayacht

[shubhamresearch]

Yachts Charter Market to record growth at a CAGR of 5.5 percent during the forecast period

The demand for yacht charters is increasing due to the rising participation of the masses in recreational and competitive boating activities across the world. The Yachts Charter Market is also positively impacted by the rising per capita income levels and the increasing inclination towards luxury trips across exotic locations. The other factors that are driving the Yachts Charter Market are the increasing use of renewable energy as a primary fuel in various marine vehicles because of the enhanced focus on sustainable development among the masses and the increasing popularity of water sports. 

#YachtsCharterMarket

[rebecca489]

#orbis research #yacht charters market #yacht transport market #yacht transport market trends #yacht transport market 2020

[brieftheoristmiracle]

Global Superyacht Market Is Estimated To Witness High Growth Owing To Growing Demand for Luxury Yachts and Increasing Wealthy Population

The global Superyacht market is estimated to be valued at USD 18.8 billion in 2021 and is expected to exhibit a CAGR of 16.10% over the forecast period 2020-2028, as highlighted in a new report published by Coherent Market Insights. A) Market Overview: The Superyacht market refers to the market for luxury yachts that are over 24 meters in length. These yachts are designed and built to offer high-end amenities and luxurious experiences to their owners and guests. They are equipped with state-of-the-art technology, luxurious interiors, and various recreational facilities, making them popular among high-net-worth individuals and celebrities. Superyachts are used for leisure and recreational purposes, as well as for corporate events and private parties. They provide an exclusive and luxurious cruising experience, offering privacy, comfort, and unparalleled services. The market for superyachts is driven by the increasing demand for luxury experiences, rising disposable income, and the growing number of wealthy individuals globally. B) Market Dynamics: 1. Driver: Growing Demand for Luxury Yachts The demand for luxury yachts has been increasing due to the rising trend of experiential tourism and the desire for unique and exclusive experiences. Luxury yacht owners and charterers seek personalized services, exceptional comfort, and privacy while cruising. This has led to an increasing number of individuals investing in superyachts. Additionally, advancements in yacht technology, such as stabilizers for a smoother sailing experience, eco-friendly propulsion systems, and innovative design concepts, have further enhanced the appeal of luxury yachts. These technological advancements have also led to the development of hybrid and electric superyachts, catering to the growing demand for sustainable yachting. 2. Driver: Increasing Wealthy Population The Superyacht Market Size is influenced by the wealth and spending power of high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs). The number of HNWIs and UHNWIs has been steadily increasing across the globe. These individuals seek luxury assets and experiences, including owning or chartering a superyacht. The growing wealth in emerging economies, such as China, India, and Brazil, has also contributed to the demand for superyachts. Furthermore, the younger generation of wealthy individuals has shown an increasing interest in yachting, which is expected to drive the growth of the market in the coming years. C) SWOT Analysis: Strength: 1. Growing demand for luxury experiences 2. Technological advancements in yacht design and features Weakness: 1. High cost of ownership and maintenance 2. Limited accessibility for aspirational buyers Opportunity: 1. Emerging markets and untapped customer segments 2. Rising popularity of eco-friendly yachting Threats: 1. Economic downturns and uncertain market conditions 2. Stringent regulations for environmental conservation D) Key Takeaways:

The global Superyacht market is expected to witness high growth, exhibiting a CAGR of 16.10% over the forecast period. The growing demand for luxury yachts and increasing wealth among individuals are major drivers for this growth.

In terms of regional analysis, Europe is the fastest-growing and dominating region in the Superyacht market. The region has a long-standing tradition of yachting and is home to several renowned yacht manufacturers and shipyards. It attracts a significant number of superyacht owners and charterers from around the world.

Key players operating in the global Superyacht market include Azimut Benetti Group, BILGIN YACHTS, Ferretti S.p.A., Fincantieri S.p.A, Gulf Craft, Heesen Yachts, Heysea Yachts, Horizon Yachts, Lürssen Group, NOBISKRUG GmbH, Ocean Alexander, Perini Navi, PRINCESS YACHTS LIMITED, Sanlorenzo S.p.a., and Sunseeker International. These players focus on product innovation and offer a wide range of yacht models to cater to the diverse requirements of their customers.

In conclusion, the Superyacht market is poised for high growth due to the increasing demand for luxury experiences and the growing wealth among individuals. The market is driven by factors such as the desire for unique and exclusive cruising experiences, advancements in yacht technology, and the rising number of HNWIs and UHNWIs. However, challenges such as the high cost of ownership and maintenance and stringent regulations need to be addressed for sustained growth in the market.

#Superyacht Market #Coherent Market Insights #Superyacht Market Value #Superyacht Market Size #Superyacht Market Share #Superyacht Market Growth #Superyacht Market Analysis .

[aimarketresearch]