Portland, OR, Dec. 14, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the U.S. 60-80 feet motorized yacht charter market generated $215.9 million in 2020, and is projected to reach $803.7 million by 2030, witnessing a CAGR of 14.0% from 2023 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Increase in number of private islands on cruise itineraries, surge in number of high net worth individuals, and shift toward alternative sources of energy, and rise in disposable income drive the growth of the U.S. 60-80 Feet motorized yacht charter market. However, high cost associated with yacht charter and several environmental concerns associated with boating restrain the market to some extent. On the other hand, increased involvement of intermediaries & hybrid business models, changes in yacht infrastructure, and rise in trend of yacht tourism present new opportunities in the upcoming years.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic resulted in nationwide lockdown and a temporary halt of production facilities to prevent further spread, which impacted the U.S. 60-80 feet motorized yacht charter market negatively.
- The boats and engine manufacturing companies also happened to incur huge losses during the first & second quarter of 2020 due to disrupted supply chains and production schedules.
The report offers detailed segmentation of the U.S. 60-80 feet motorized yacht charter market based on application.
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Based on application, the vacation & leisure segment held the highest market share in 2020, holding nearly three fourths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 13.6% from 2023 to 2030.
Leading players of the U.S. 60-80 feet motorized yacht charter market analyzed in the research include Anacortes Yacht Charters, Boatsetter, Charles Charters, GetMyBoat, Metro Yacht Charters of New York, Northrop & Johnson, Ritzy Charters, Sailo, Seattle Yachts, Tranquilisea Yachting, and Yachtico Inc.
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