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

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).

The 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. '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', '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.'

The 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.

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.

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.