LONDON - Yachts are motor-driven or sail-driven vessels that are used for primarily for recreational purposes. Yachts available for chartering can be privately owned or can be owned by the companies that lend yachts for chartering. Generally, yachts are big enough to contain a cabin. They can be multihulled or monohulled vessels. Yacht charter is basically renting a yacht for recreation. Yacht owners usually charter their yachts when these are not being used by them.
There is a basic difference between a boat and a yacht, the length and expense of the vessels. However, the primary difference is that a boat is essentially a watercraft used for residential, commercial, or recreational purposes whereas a yacht is only associated with recreation and luxury.
This report on the global yacht charter market highpoints the present scenario of the market coupled with expected growth of the global yacht charter market during the forecast period. Various social, political, technological and economic factors have been analyzed which are likely to impact the demand of yacht charter in the coming years.
An exhaustive study of the market dynamics i.e. global market drivers, restraints and opportunities has been included under the purview of the report.
Global Yacht Charter Market: Segmentation
The global yacht charter market has been segmented on the basis of yacht type into sailing yachts, motor yachts and catamarans yachts. These types are further divided into classic yachts, open yachts and others. Sailing yacht accounted for a maximum share in the global yacht charter market.
However, motor yachts are likely to grow at a significant pace owing to many reasons including high occupancy space, ease of use, and availability. On the other hand, open yachts are likely to increase their market share in the coming years.
Global Yacht Charter Market: Drivers and Trends
Travelling has become one of the key trends in the recent times. Consumers looking for holidaying nowadays choose their destinations very wisely. As the number of destinations for yacht chartering is increasing at a steady pace, so is the demand for yacht chartering. As consumer preference towards yacht chartering is rising, there is an increasing popularity of charter destinations especially among the young population.
Moreover, the growing inclination of corporate consumers for yacht chartering is also on the rise. As businesses and corporate houses look for destinations that are serene and peaceful, yet happening, therefore, they prefer yacht chartering for spending their vacations.
Additionally, owing to a shift in lifestyle, sailing destinations have also been observed to break off from the traditional Caribbean and Mediterranean waters to less familiar destinations of Asia Pacific, Middle East and Antarctic. Thus, growing inclination of consumers to explore new destinations and rising number of destinations globally is likely to consequently increase the number of yachts available for charter, thereby boosting the overall yacht charter market.
Global Yacht Charter Market: Competitive Analysis
Additionally, the key players that are operating the yacht charter market have been thoroughly profiled and the competitive landscape is comprehensive of these companies' recent developments associated to yacht charters and the divergent business strategies followed by them. To analyze their market positioning further, SWOT analysis for each of the players has been provided. Furthermore, the report includes market attractiveness analysis of the segmentation, by yacht size, for offering a deep insight into the major yacht size that is governing the global yacht charter market.
Some of the major players operating in the global yacht charter market include Yachtico, Inc. (U.S.), Zizooboats GmbH (Germany), Boat International Media Ltd. (U.K.) and Charterworld Limited (U.K.). Other players operating in the global market are Burgess (U.K.), Incrediblue Limited (U.K.), Boatbound Inc. (U.S.), Martello Yachting and Company (China), Northrop & Johnson (U.S.), Fairline Yachts Ltd. (U.K.), SuperYacht Logistics (Japan), Fraser Yachts (U.S.) and West Coast Marine Yacht Services Pvt. Ltd. (India) among others.