Global Yacht Charter Market Expected to Reach a Value Higher than US$ 17 Bn by the end of the year of assessment (2027)
According to Market Research Reports Search
Engine, the global market for yacht charter is expected to display steady
growth during the period of forecast. The global yacht charter market has been
witnessing consistent growth since 2012. According to this research, the global
market for yacht charter, in terms of value, is anticipated to expand at a CAGR
of 5.1% during the forecast period and is expected to reach a value higher than
US$ 17 Bn by the end of the year of assessment (2027). Strong inclination of
the younger audience towards sailing holidays, especially in European countries
such as Italy and Croatia, driven by increasing disposable income has catalysed
growth of the yacht charter market over the last few years.
The global yacht
charter market is witnessing a trend of innovative interior design such as
use of exotic leather for upholstery and aesthetic alignment of commodities
inside the yacht. Motor and sailing yachts are equipped with modern furniture,
woodwork, and good lighting. Moreover, the global yacht charter market is
witnessing a trend of increasing yacht sizes. This is owing to rising
preference of customers to explore destinations in large groups. Manufacturers
are focused towards retrofitting old yachts, especially motor yachts, in order
to make them more fuel efficient and reduce CO2 emissions. Eco-friendly yachts
with low CO2 emissions are presented with various Environment Protection Awards
by RINA – an organization that issues notation Green Plus to
environmental-friendly ships on the basis of environment performance index,
which includes impact of the vessel on the environment
On the basis of type, the global yacht charter
market has been segmented into motor yacht and sailing yacht. Sailing yacht
segment is expected to represent largest share in terms of value. In terms of
value this segment has been estimated to reach a value of over US$ 10 Bn by the
end of the year of assessment. Revenue contribution of the segment to the
global yacht charter market is expected to increase at a CAGR of 4.7%
throughout the period of forecast.
Sailing yacht segment is further categorized
into sloop, schooner, catamaran and ketch. In 2017, the schooner sub segment
reflected a valuation a bit under US$ 2600 Mn whereas the sloop sub segment
reflected a value of over US$ 2700 Mn. In 2017, the sloop sub segment dominated
the market. However, the schooner sub segment gained high traction over years
and surpassed the sloop sub segment and is estimated to touch a higher
valuation of more than US$ 4100 Mn by the end of the year of assessment (2027)
as this segment is also projected to register a higher growth rate than the
sloop segment. The catamaran sub category is poised to grow at the highest rate
to register a CAGR of 6.6% throughout the period of forecast and is anticipated
to reach a value a little less than US$ 1500 Mn by end of 2027.
About
(MRRSE)
Market Research Reports Search Engine (MRRSE) is an
industry-leading database of Market Research Reports. MRRSE is driven by a
stellar team of research experts and advisors trained to offer objective
advice. Our sophisticated search algorithm returns results based on the report
title, geographical region, publisher, or other keywords.
MRRSE partners exclusively with leading global publishers to
provide clients single-point access to top-of-the-line market research. MRRSE’s
repository is updated every day to keep its clients ahead of the next new trend
in market research, be it competitive intelligence, product or service trends
or strategic consulting.
Contact
Us
State Tower
90, State Street
Suite 700
Albany, NY – 12207(United State)
Telephone: +1-518-730-0559(toll free no)
Email: sales@mrrse.com
Website: https://www.mrrse.com/
90, State Street
Suite 700
Albany, NY – 12207(United State)
Telephone: +1-518-730-0559(toll free no)
Email: sales@mrrse.com
Website: https://www.mrrse.com/
Comments
Post a Comment