Global Boat Rental Market Size By Propulsion Type (Fuel Powered, Sail Boat), By Boat Size (Up to 20 Feet, 21 To 35 Feet), By Boat Class (Luxury, Sports), By Geographic Scope And Forecast

Boat Rental Market Size And Forecast

Boat Rental Market size was valued at USD 15.09 Billion in 2022 and is projected to reach USD 21.09 Billion by 2030, growing at a CAGR of 4.0% from 2023 to 2030.

The growth of the Boat Rental Market is primarily fueled by a surge in tourism numbers, growing attractiveness of recreational activities, which in turn is a consequence of the rise in disposable income of the population of many economies. The Global Boat Rental Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Boat Rental Market Definition

Boat rental is the practice of renting a boat for an exciting holiday or for business purposes. Furthermore, boat owners frequently rent or lease their boats while they are not in use to recuperate some of their maintenance costs. Boat rental is a low-cost alternative that responds to the growing public interest in sailing without requiring a large initial investment.

Want to enjoy the open water without the hassle of boat ownership? Renting a boat is a smart way to do it in today's world! Let's face it, most boats just sit docked most of the time. Renting lets those boats get used! Boat rental companies offer all kinds of options, from fueled to unfueled, and with or without a crew – whatever you need. Expect fantastic amenities and maybe even a professional crew to take care of everything. These yachts are chartered for both business and fun, offering a truly luxurious experience with top-notch comfort and standards.

Boats are frequently used for cruising and fishing in several parts of the world. The Boat Rental Market, along with increased access to high-speed internet and social media, is bringing together a significant number of people who are both boat owners and boat users. This is helping to develop a community of people who are occasional boat users and boat owners. Normally, everyone wishing to hire a certain boat first verifies the availability of all its certificates and its prior record.

The owner of a boat then hires his boat together with a captain or a crew to a person hiring that boat. There are different sorts of boats that may be leased based on their location, availability, function, etc. Aluminum Fishing Boats, Bay Boats, Cabin Cruisers, Bowriders, Centre Consoles, Inflatables, Multi-Hull Power Boats, and more sorts of boats are available. Boating has several applications in sports, tourism, and, to a lesser extent, commercial events.

Global Boat Rental Market Overview

During the projection period, the developing tourist sector, rising interest in leisure activities, and maritime tourism are likely to drive demand for boat rentals. Renting a boat is a simple and handy method to own one without really owning one. Renting a boat is a much-needed service in today’s market, where everything can be rented, from a bicycle to a home, a car to a workplace, as most boats are parked in the harbor for more than half of their service life.

Need a boat? Rental companies have you covered! They offer all sorts of options, whether you need a captain or prefer to skipper yourself, want a full tank of gas or plan to fill it up, and even extras like skis and tubes. Thinking of making some extra cash? Listing your boat for rent is a great way to do it – owning a boat is often cheaper than keeping it shipshape! With so many boats sitting pretty in harbors, the rental business is poised to take off. After all, who doesn't want a little luxury without breaking the bank? While boat rentals used to be all about weekly or monthly commitments, now, thanks to the internet, you can often rent by the hour, half-day, or full-day.

In Europe, the number of parked boats is significant. In addition, four European nations are in the top five in terms of yachts moored on their coastlines, with the United States leading the way. Furthermore, the United States is the world leader in boat production. However, it faces stiff competition from Italy, the world’s second-largest boat maker, because luxury boats built in Italy are highly favored, whereas boats made in the United States are favored for fishing and recreational activities.

Global Boat Rental Market Segmentation Analysis

The Global Boat Rental Market is segmented on the basis of Propulsion Type, Boat Size, Boat Class, And geography.

Boat Rental Market, By Propulsion Type

• Fuel Powered
• Sail Boat
• Electric Boat

Based on Propulsion Type, the market is bifurcated into fuel powered, sail boat, and electric boat. The fuel-powered segment has the largest worldwide market share and is expected to maintain it during the forecast period. The market’s expansion may be attributed to increased demand for gasoline-powered boats for personal and recreational usage in a number of nations. Fuel-powered boats offer several benefits, including enhanced speed and power, as well as a long range. Furthermore, fuel-powered boats may sail in tropical seas, allowing clients to explore the whole coastline as well as narrow and shallow streams.

Boat Rental Market, By Boat Size

• Up to 20 Feet
• 21 To 35 Feet
• Above 36 To 50 Feet

Based on Boat Size, the market is bifurcated into up to 20 feet, 21 to 35 feet, and above 36 to 50 feet. The category of 21 to 35 feet accounts for the majority of the global market. Many boats with lengths ranging from 26 to 35 feet are utilized mostly for personal reasons. The influence can be attributed to a variety of factors, including low maintenance costs, low mooring costs, and anchoring capabilities in shallow waters, making it the preferred choice for end users.

Boat Rental Market, By Boat Class

• Luxury
• Sports
• Entry

Based on Boat Class, the market is bifurcated into luxury, sports, and entry. The rental boat industry is being pushed by a growing interest in luxury sailing, particularly among the world’s wealthy. Exploring new tourist destinations that provide luxury cruises has tempted the rich and general public to travel throughout the world. Furthermore, by developing premium amenities such as internet access, bars, and restaurants, the firms want to provide their clients with better comfort and lengthier luxury cruises. This is likely to stimulate the luxury yachting sector.

Boat Rental Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

Looking at where boats are being rented around the globe, we can divide the market into areas like North America, Europe, Asia Pacific, and basically, everywhere else. Seems like 2021 was Europe's year to shine, leading the worldwide boat rental industry. And guess what? Europe's also predicted to grow the fastest, probably because there are so many great tourism locations there. Countries like Spain and Italy? They're making a big splash in terms of money. Plus, with fishing and water sports getting more popular, and a lot of high net worth individuals around, expect Europe to keep riding the wave of growth in the boat rental market for years to come.

North America accounts for a sizable portion of the worldwide boat rental industry, because to the support of innovative platforms such as Uber and Boatsetter, which have brought boat rental service providers to the area. Because of the country’s great concentration of central boat hire locations, the United States leads the market in the area. Furthermore, growing public spending on water sports and leisure tourism is pushing the industry in the region.

Key Players

The “Global Boat Rental Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are GetMyBoat, Inc., Click&Boat, Sailo, SamBoat, GlobeSailor, Yachtico Inc., Boatjump SL, BoatBureau, Ocean Serenity, and Boatsetter. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In February 2022, GetMyBoat, a boat rental firm, was acquired by Yanmar Holdings. The acquisition is part of the previous company’s USD 21 million investment round, and GetMyBoat will continue to operate as an independent organization following the acquisition.
• In Aug 2020, Click&Boat acquired Nautal, a major participant in the European boat rental sector. The corporation currently enjoys a leading position in the worldwide boat rental sector. The purchase is expected to boost Click&Boat’s sales to USD115 million in 2021.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global boat rental market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in the global boat rental market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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Reasons to Purchase this Report

We dig deep into the market, looking at both the numbers (quantitative) and the softer side (qualitative), dividing it all up based on everything from money matters to other important stuff. We'll give you the market value in USD Billion for every slice and dice of the market. Plus, we'll pinpoint which region and segment are likely to be the rocket ships, growing the fastest and leading the pack. We'll break down each geographic area, showing you where the product/service is being used and what's influencing the market there. Expect a competitive landscape view, ranking the big players and highlighting their latest moves – new product launches, alliances, expansions, and acquisitions over the last five years, along with detailed SWOT analyses and company insights for key market participants. We'll also paint a picture of the current and future market, considering recent events, growth possibilities, driving forces, hurdles, and limitations in both emerging and established areas. You'll get an in-depth look at the market from all angles using Porter's five forces analysis, and we'll trace the product's journey through the value chain. Finally, we'll explore the market's dynamics and upcoming growth opportunities. Oh, and did we mention 6-month post-sales analyst support?

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