Authored By: Sarah
11 Jul 2024

 Boat Rentals Market Size to grow by USD 243.9 million between 2024-2028

According to a research report “ Boat Rentals Market” by Propulsion (Fuel powered, Electric boats, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 243.9 million, at a CAGR of  13.63% during the forecast period. The global boat rental market is experiencing robust growth due to the surge in consumer participation in marina and recreational boating activities. The US and Europe dominate this market, with the US recreational boating industry projected to exceed USD28 billion by 2024. Despite a temporary setback in 2020 due to pandemic restrictions, the market has regained momentum with the easing of restrictions, large-scale vaccination drives, and declining COVID-19 cases. Notably, marina and charter services in the US are significant contributors to this growth.

Browse market data tables, figures, and in-depth TOC on “Boat Rentals Market” by Propulsion (Fuel powered, Electric boats, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Propulsion, the Fuel powered segment is projected to dominate the market size in 2024

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By Geography, North America  segment is expected to hold the largest market size for the year 2024

The boat rentals market encompasses motorboats and speedboats, which are fuel-powered vessels propelled by engines. In 2023, this segment held the largest market share and is projected to expand further during the forecast period. Travel agencies worldwide offer recreational boating activities, such as chartered yacht services, in their tour packages to cater to both domestic and international tourists. These activities provide opportunities for socialization among friends and family. The burgeoning millennial population and rising disposable income have fueled the popularity of adventure tourism, thereby driving the growth of the global boat rentals market.

North America is forecasted to hold the largest market size by region in 2024

As a seasoned business analyst, I'm here to provide insights into the Boat Rentals Market. This sector experiences significant growth due to increasing consumer interest in water sports and leisure activities. Key players focus on enhancing customer experience through advanced technologies and personalized services. Market trends include eco-friendly rentals, subscription models, and integration with travel platforms. Strategic partnerships and collaborations are crucial for market expansion.

The Boat Rentals Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • BLUE BAY MARINE
  • Blue Boat Yacht Entertainment Co.
  • Boating Inc.
  • Boatjump SL
  • CLICKANDBOAT SAS
  • GETMYBOAT INC.
  • GlobeSailor SAS
  • Groupe Beneteau
  • NAVIGARE YACHTING AB
  • Odyssey Boats
  • Sailo Inc.
  • SamBoat
  • Travelopia Group
  • West Coast Marine Yacht Services Pvt. Ltd.
  • Yachtico GmbH
  • Zizooboats GmbH
.

For insights on company offerings- Request a sample report!

Research Analysis Overview

The Boat Rentals Market encompasses a variety of watercraft, including electric boats, IC engine motorboats, electric-powered catamarans, and sailing boats. These vessels offer leisure activities for individuals and families seeking outdoor adventures. Digital tools such as apps and internet platforms have revolutionized the boat rental industry, providing reservation options for electric boats, ships, and motorboats for hourly or longer periods. Electric boats are increasingly popular for their eco-friendly and quiet operation, while IC engine motorboats cater to those seeking more power for water sports activities like tubbing and skiing. Catamarans and sailing boats offer unique cruising experiences for maritime tourism enthusiasts. Boat rental companies provide amenities like life jackets, safety equipment, and instruction for first-time renters. Private rentals are also available for those seeking a more personalized experience. Online platforms offer convenience and flexibility, allowing users to easily search, compare prices, and book their preferred watercraft for recreational purposes. Domestic tourism has seen a surge in popularity due to the accessibility and affordability of boat rentals, making it an attractive option for those seeking new experiences and adventures. Whether you're an experienced sailor or a first-time renter, the boat rental market has something for everyone.

Market Research Overview

The Boat Rentals Market is a significant segment of the water tourism industry, offering water-based adventures for individuals seeking unique experiences on water ecosystems. With a growing cultural affinity for boating, the market caters to various water activities, including angling experiences, using fish finders, livewells, rod holders, and fishing platforms on maneuverable vessels. The market encompasses hybrid setups, battery electric, and fuel-powered watercraft, catering to both resource-efficient and luxury segments. Boat rental companies provide sustainable boating options, such as electric boats and sailboats, with digital tools like mobile applications for instant booking features, user-friendly rental reservation processes, and contactless bookings. The industry includes water sports, recreational boating events, boat clubs, and boat ownership options, with various power sources like electric, IC engines, and sailboats. The boat rental industry is evolving with the sharing economy model, offering a wide range of boats, from entry-segment to luxury motor yachts, sailboats, monohulls, and catamarans. Renewable energy sources like fuel cells, bio-diesel, and hydro-generators are being adopted to reduce the environmental impact. The market offers various amenities, including restaurants, bars, and luxury cruising, catering to diverse customer experiences. The rental process includes insurance, taxes, and booking processes, with online platforms and apps providing reservation options for water sports activities and beach activities on independent islands. The boat rental industry contributes to cruise tourism, marine tourism, and the real estate market, with government efforts to improve port infrastructure and hospitality services. The market also includes advanced provisioning allowances, crew gratuity, local taxes, and travel destination information for a memorable vacation experience.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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