{"id":128734,"date":"2024-02-16T09:51:14","date_gmt":"2024-02-16T14:51:14","guid":{"rendered":"https:\/\/v2fr5er78d.funnewsdaily.com\/books\/global-yacht-charter-market-size-is-projected-to-reach-usd-48910-2-million-by-2031-growing-at-a-cagr-of-11-1-straits-research\/"},"modified":"2024-02-16T09:51:14","modified_gmt":"2024-02-16T14:51:14","slug":"global-yacht-charter-market-size-is-projected-to-reach-usd-48910-2-million-by-2031-growing-at-a-cagr-of-11-1-straits-research","status":"publish","type":"post","link":"https:\/\/v2fr5er78d.funnewsdaily.com\/books\/global-yacht-charter-market-size-is-projected-to-reach-usd-48910-2-million-by-2031-growing-at-a-cagr-of-11-1-straits-research\/","title":{"rendered":"Global Yacht Charter Market Size is Projected to Reach USD 48,910.2 million by 2031, Growing at a CAGR of 11.1%: Straits Research"},"content":{"rendered":"
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New York, United States , Feb. 12, 2024 (GLOBE NEWSWIRE) — A motorized or sail-powered boat used primarily for leisure is a yacht. Yachts can be privately owned (by a person or a company) or leased out for charter. With lengths ranging from 75 feet to more than 250 feet, large, opulent, professionally crewed motor yachts, and sailing yachts are available. Many luxury yacht manufacturers also offer yachts for renting and private use to deliver a seamless luxury experience full of high standards and comfort. OEMs strategically focus on building high-speed yachts to satisfy consumer demand due to the rising popularity of water sports and marine tourism.<\/p>\n
Download Free Sample Report PDF @ <\/strong>https:\/\/straitsresearch.com\/report\/yacht-charter-market\/request-sample<\/u><\/b><\/a><\/p>\n Increased Purchasing Power and Rising Disposable Incomes Drive the Global Market<\/b><\/p>\n According to Straits Research, \u201c<\/i><\/b>The global yacht charter market size was valued at\u00a0USD 15,205.2 million 2022. It is expected to reach\u00a0USD 48,910.2 million by 2031, growing at a\u00a0CAGR of 11.1%\u00a0during the forecast period (2023\u20132031).<\/i><\/b>\u201d<\/i><\/b> Yachting is undoubtedly a consumer discretionary activity, so the industry’s growth is directly impacted by disposable income. Due to solid increases in purchasing power in developing countries, first-tier income-ranking countries no longer dominate the global economy. Furthermore, many OEMs are currently focusing on implementing alternative energy sources for yachting-related uses. Solar-powered yachts are becoming increasingly popular as alternatives to older, diesel-powered yachts. Instead of using conventional fuels, modern technologies like fuel cells, biodiesel, and hydro generators still offer much room for innovation.<\/p>\n Use of Middlemen and Hybrid Business Models Create Tremendous Opportunities<\/b><\/p>\n The yacht market is experiencing an increase in brokers’ involvement in the market, along with an increase in buyers and charters. They are principally in charge of organizing viewings, agreeing on the terms of the sale, handling the paperwork, and collecting and allocating the proceeds. Customers are also drawn to renting yachts because they can view the interiors of the yachts in real time on their phones and tablets. The hospitality and leisure industries are seeing increased interest in yachts. For instance, the Ritz-Carlton hotel chain launched “The Ritz-Carlton Yacht Collection” in May 2018. This collection included modern duplex suites, a spa, a signature restaurant, and a bar. New cruises are being created by several lines, including those on small ships and luxurious vessels. Due to such participation, the market for yacht charters is expected to grow faster soon.<\/p>\n Regional Analysis<\/b><\/p>\n Europe Yacht Charter Market Share<\/u><\/a> is expected to grow at a CAGR of 14.9% during the forecast period. Europe is the world leader in manufacturing luxury yachts, with Italy receiving the most orders in the area. Due to strong government support and many yacht manufacturers in the country, Italy has maintained its position as the top producer of luxury yachts in the world in recent years. However, market participants are currently examining their domestic and international customer bases to increase market share. Manufacturers in the European region are working harder to produce environmentally friendly yachts and are pursuing sustainable growth. For instance, Catamaran used 75% recycled materials to build a luxury yacht. After its useful life, the Vaan R4 can be recycled because it was made with recyclable, circular materials. Additionally, natural materials like certified wood, cork, linen, lyocell, a substitute for silk, and leather substitute made from plants are used to construct the boat. These programs provide high-end luxury while having no adverse environmental effects.<\/p>\n Asia-Pacific is anticipated to grow at a CAGR of 17.6% during the forecast period. The luxury yacht market in Asia-Pacific is expected to expand at the highest CAGR during the forecast period. High yacht project investments are expected to support market expansion in the region. The production of yachts is also anticipated to rise in the upcoming years due to expanded production facilities in the China and Taiwan region. Taiwan is beginning to show promise as a yacht manufacturing location in the Asia-Pacific region. Taiwan has attracted attention from all over the world for its inexpensive but luxurious yachts of the highest caliber, with consistent increases in revenue and average yacht length. It is anticipated that Asia-Pacific will increase its market share during the forecast period.<\/p>\n Key Highlights<\/b><\/p>\n Competitive Players<\/b><\/p>\n The Top\u00a010 players in the global yacht charter market’s are Boatsetter, Charter Yachts Australia, Fraser Yacht, Martello Yachting and Company, Nautal, Princess Yachts Limited, Sailogy S.A, Northrop and Johnson, Yachtico Inc, and Zizooboats Gmbh.<\/i><\/b><\/p>\n Market News<\/b><\/p>\n Global Yacht Charter Market: Segmentation<\/b><\/p>\n By Size<\/b><\/p>\n By Type<\/b><\/p>\n By Applications<\/b><\/p>\n By Regions<\/b><\/p>\n Get Detailed Market Segmentation @ <\/strong>https:\/\/straitsresearch.com\/report\/yacht-charter-market\/segmentation<\/u><\/b><\/a><\/p>\n About Straits Research Pvt. Ltd.<\/b><\/p>\n Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.<\/p>\n Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client\u2019s purchase. We overcome our clients\u2019 issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.<\/p>\n For more information on your target market, please contact us below:<\/p>\n Phone:<\/b>\u00a0+1 646 905 0080 (U.S.)<\/p>\n +91 8087085354 (India)<\/p>\n +44 203 695 0070 (U.K.)<\/p>\n Email:<\/b>\u00a0sales@straitsresearch.com<\/u><\/a><\/p>\n Follow Us:\u00a0<\/b>LinkedIn<\/u><\/a>\u00a0|\u00a0Facebook<\/u><\/a>\u00a0|\u00a0Instagram<\/u><\/a>\u00a0|\u00a0Twitter<\/u><\/a><\/p>\n \n
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