Yacht Charter Market Size
| 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 |
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
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Dream Yacht Charter
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OceanBLUE Yachts Ltd.
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Burgess
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Simpson Marine
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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
6.2.9 Y.CO
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 Charter Type | |
| Bareboat | |
| Cabin | |
| Crewed |
| By Yacht Source | |
| Sailing Yacht | |
| Motorboat Yacht | |
| Other Yacht Sources |
| By Geography | |||||||
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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
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.
