Key companies
competing against one another in the global yacht
charter market are Yachtico, Inc., Zizooboats GmbH, Boat
International Media Ltd., and Charterworld Limited. Besides these,
other prominent names in the market are Burgess, Incrediblue Limited,
Boatbound Inc., Martello Yachting and Company, Northrop &
Johnson, Fairline Yachts Ltd., SuperYacht Logistics, Fraser Yachts,
and West Coast Marine Yacht Services Pvt. Ltd. Keen players in the
global yacht charter market are shifting their gaze towards the
emerging markets in Asia Pacific, Latin America, and the Middle East
and Africa, where increasing spending capacity of people and
relatively new tourist hotspots spell a lot of opportunity for them.
A report by
Transparency Market Research forecasts the global market for yacht
charter to register a 7.2% CAGR during the period between 2017 and
2025 to attain a value of US$14.987 bn by 2025 from US$8.123 bn in
2016. Volume-wise, it predicts the market to grow to 7,684 units from
6,054 units in 2016 by clocking a healthy 7.2% CAGR.
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The different types
of yacht in the global yacht charter market are sailing yachts, motor
yachts, and catamarans yachts. Among them, the sailing yacht accounts
for a substantial share in the market due to their soaring popularity
with first time sailors and sea enthusiasts. Sailing yachts can be
further sub-segmented into classic yachts, open yachts, etc.
Asia
Pacific is considered a lucrative market that will likely outshine
all others in terms of growth rate. The market in the region is
receiving a major boost from the rising number of charter
destinations, increasing wealth of people, and greater availability
of yachts. Thailand, Australia, Singapore, and Malaysia are some of
the popular yacht chartering destinations in Asia Pacific. The market
in Asia Pacific is slated to expand at an 8.0% CAGR from 2017 to
2025, as per the TMR report.
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