The expanding database of Market Research Reports Search Engine (MRRSE) has been recently updated by the addition of a new study which is titled as "Global Yacht Charter Market Highlights Key Development Factors and Upcoming Trends During forecast 2018 – 2027". The fact based research report on global Yacht Charter Market covers various aspects such as trends, drivers, challenges and opportunities that have an influence on the growth and expansion of the global market. All these factors are analysed across key regions of Latin America, North America, Europe, Middle and Africa (MEA) and Asia Pacific. In order to provide an accurate forecast, analysts have presented the current market, which forms the basis on how the metal caps and closures market is expected to develop in the future.
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According to Market Research Reports Search Engine (MRRSE), 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
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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 2018, 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 2018, 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.
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Global Yacht Charter Market Highlights Key Development Factors and Upcoming Trends During forecast 2
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