USD 19.24 billion
Boat Rental Market Size, Share, Growth Analysis, By Boat Type(Fuel Powered, Sail Boat, Electric Boat.), By Boat Size(Up to 20 feet, 21 to 35 feet, Above 36 to 50 feet.), By End users(Luxury, Sports, and Fishing), By Region(North America, Europe, Asia-Pacific, Latin America), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25J2029 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|Tables:
119
|Figures:
80
Boat Rental Market Insights
Global Boat Rental Market was valued at USD 19.24 billion in 2022, and is expected to rise from USD 20.34 billion in 2023 to reach a value of USD 31.69 billion by 2031, at a CAGR of 5.70% during the forecast period (2024–2031).
Clients who use boat rental administrations can lease boats for their relaxation or excursions. Chartering a boat seems a feasible option in the present economy where anything can be bought without claiming it. Most boats spend the more significant part of their helpful life secured, so the leasing arrangement supports reusing these inactive vessels. Contingent to the client's requirements, boat rental firms offer either powered or unfueled boats, alongside teams or without them. A great many superb conveniences are given for boats, an accomplished group. These boats offer a total extravagance experience with the best solace and principles and are sanctioned for business and extravagance purposes. In a few regions of the planet, most conspicuously in Europe, boats are often utilized for cruising and fishing.
Since buying a boat is less expensive than maintaining it, listing a parked boat in a boat rental provides boat owners a new stream of income. The industry for boat rentals has a lot of room to grow in the years to come because of the parked boats in harbours. Many people wish to enjoy luxury at a reasonable price. Before, boat rental businesses offered weekly and monthly boat rentals. Digitalization has, however, opened up new possibilities for hourly and partial- or full-day rental services.
US Boat Rental Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Luxury
Fastest Growth
Luxury
Growth Rate
5.70% CAGR
Global Boat Rental Market ($ Bn)
Country Share for Europe Region (%)
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Boat Rental Market Segmental Analysis
Boat Rental Market is segmented based on the basis of boat type, boat size, end users, and region. Based on boat type, the Boat Rental Market is segmented into fuel powered, sail boat, electric boat. In terms of segmentation by boat size, the Boat Rental Market is categorized into up to 20 feet, 21 to 35 feet, and above 36 to 50 feet. With respect to segmentation by end users, the Boat Rental Market is classified into luxury, sports, and fishing. Based on Region Boat Rental Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Boat Rental Market Analysis by Boat Type
The fuel powered segment dominated the market in 2022. The market growth is attributed to the increasing demand for personal and recreational gasoline-powered boats throughout several nations. Fuel-powered boats have a number of benefits, such as enhanced power and speed as well as long range. Additionally, fuel-powered boats can navigate tropical waters, giving users access to nearly the whole coastline as well as shallow streams. Additionally, a rise in marine competitions, sporting events, and championships drives up demand for fuel-powered boats.
Electric boats are the fastest growing segment during the forecast period. Because of the increased demand for environmentally friendly boats. Currently, electric boats are available in Europe, and over the forecast period, the U.S. will utilize them more frequently. There are just a few hundred or so makers of electric boats, but the industry is growing. The market for boats is expected to rise due to electrification.
Boat Rental Market Analysis by End Users
Luxury Segment dominated the market in 2022 and is further projected to serve as the fastest growing segment during the forecast period as well. A rising interest in luxury sailing, especially among wealthy people worldwide, is driving the rental boat market. The wealthy and the general public have been drawn to travel the world to discover new tourist destinations that offer luxurious cruises. Furthermore, most corporations concentrate on providing their customers with greater comfort and longer luxury cruises by developing premium services like internet access, pubs, and restaurants. This is anticipated to create lucrative growth opportunities for the luxury boating sector in the coming years.
Global Boat Rental Market By End User
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Boat Rental Market Regional Insights
Europe dominated the market in 2022 owing to its abundance of tourist locations. Their revenue is significantly boosted by contributions from Croatia, Spain, and Italy.The market will continue to rise in this region due to factors such as the rising popularity of fishing and water activities and the presence of high net worth individuals.
Asia Pacific is the fastest growing region and expected to exhibit the highest CAGR during the forecast period. The rising population in China and India, which together make up more than 38% of the world’s population, is a crucial element driving the growth of this area. This expansion is attributable to rising urbanisation and shifting personal tastes brought on by higher disposable income. There are many prospects for boat sports due to the rising popularity of fishing, water sports, and marine tourism in Asia Pacific nations. India and China have also implemented a number of helpful government programmes to promote maritime tourism. This is further anticipated to promote market growth in the forecast duration.
Global Boat Rental Market By Region
- Largest
- Fastest
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Boat Rental Market Dynamics
Boat Rental Market Driver
Increasing growth of Marine Tourism is anticipated to Propel Market Growth
- The global boat rental industry is anticipated to develop as a result of consumers’ rising per capita incomes, growing interest in luxury activities like sailing and marine tourism, and these factors. Over the past few years, recreational boating has increased in popularity, supporting industry growth. These factors collectively fuel market expansion. Marine tourism is being promoted through a number of government initiatives and programmes, which is expected to accelerate industry expansion.
Boat Rental Market Restraint
High Cost of Boats and Higher Taxation May Hinder Growth
- The location of the trip, the boat’s kind, inter- and intra-border taxes, and cover charges all affect how much it will cost to rent a boat. Rental boats are therefore available in a range of price points. Monohulls and smaller sailboats can be rented for USD 10,000 per week, whereas super yachts with luxurious motors can be rented for more than USD 210,000 per week. In addition, extra unreported fees and charges, such as VAT, allowances, insurance, and crew tips, make up an additional 15.1% to 30.0% of the initial cost. These fee structures may cause problems for many consumers in emerging nations, thus restricting the growth of this industry on a global scale.
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Boat Rental Market Competitive Landscape
The global boat rental market is highly competitive in nature owing to the presence of multiple players. To maintain a competitive edge, the major industry participants are implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually investing in R & D activities.
Boat Rental Market Top Player's Company Profiles
- GetMyBoat
- Boatsetter
- Click&Boat
- Sailo
- Antlos
- Zizoo
- SamBoat
- Nautal
- Yachtico
- Boatbound
- GlobeSailor
- Dream Yacht Charter
- BoatBureau
- The Moorings
- Navigare Yachting
- Sunsail
- Le Boat
- Anema By Pontos
- Guletbookers
- Fraser Yachts
Boat Rental Market Recent Developments
- In March 2024, Battle Born Boat Rentals, a premier provider of high-quality pontoon boat rental services, announced its official launch in South Lake Tahoe, California.
- In February 2024, Bilgin Yachts launched its first motor yacht hitting the water in Istanbul in the form of the striking 50m charter yacht ETERNAL SPARK. Designed with the discerning charter client in mind, the latest Bilgin 163 charter yacht promises an experience like no other.
- In January 2024, Getmyboat, the world's leading booking platform for yacht charters and boat rentals and Your Boat Club, the world’s largest privately-owned boat club, joined forces to expand offerings to meet customer demand in key locations.
Boat Rental Key Market Trends
- To create a favourable trend for market expansion, boat rental apps are resolving issues with standardisation in payments and customer service. The market’s fragmentation simply makes challenges for business owners worse. Pricing, standardisation, and customer service are all in greater demand. Therefore, boat rental companies are staking their future on the creation of smartphone apps.
- Software for managing boat rentals is becoming a differentiating point among rivals. An online boat hiring management tool called Rent Rabbit analyses reservations to produce information that help monitor success and customize the rental reservation process. These businesses provide customers with user-friendly mobile apps that assist business owners in managing operations while on the road. In-demand in mobile apps are instant booking options. Companies are able to expand their business network thanks to precise insights and statistics on reservations and bookings that may be gathered using data science and machine learning.
Boat Rental Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Boat Rental Market analysis, Europe is expected to capture higher market share, owing to abundance of tourist locations and rising popularity of fishing. Italy has emerged as a significant contributor to market growth in Europe. In terms of boat type, the fuel powered type segment dominates the boat rental market. Growth of this segment can be attributed to its increasing demand for personal and recreational gasoline-powered boats throughout several nations. In terms of end users, the luxury used led the market and is predicted to grow at the fastest rate.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 19.24 billion |
| Market size value in 2031 | USD 31.69 billion |
| Growth Rate | 5.70% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Boat Rental Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Boat Rental Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Boat Rental Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Boat Rental Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Boat Rental Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Boat Rental Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Boat Rental Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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